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    BNY Mellon Appreciation Fund, Inc.

    Why invest in this Fund?

    The fund seeks long-term capital growth consistent with the preservation of capital. Its secondary goal is current income. To pursue these goals, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stock. The fund focuses on “blue-chip” companies with total market capitalizations of more than $5 billion at the time of purchase, including multinational companies.
    Min. class investment
    $1,000,000
    Class Inception Date
    07/01/13
    Fund Assets
    $2,298,250,324  As of  02/27/24
    Class Assets
    $194,121,012  As of  02/27/24
    Portfolio Turnover Rate
    9.01% As of fiscal year end  12/31/22
    Morningstar Category
    Large Growth
    Benchmark
    S&P 500® Index
    Morningstar Overall Rating
    Fund Holdings
    50 As of 01/31/24

    Morningstar Rating™ as of January 31, 2024 for the Class Y class shares; other classes may have different performance characteristics. Overall rating for the Large Growth category. Fund ratings are out of 5 Stars: Overall 4 Stars (1116 funds rated); 3 Yrs. 4 Stars (1116 funds rated); 5 Yrs. 4 Stars (1039 funds rated); 10 Yrs. 3 Stars (810 funds rated).

    Portfolio Managers

    • Alan R.  Christensen

      Alan R. Christensen, CFA

      Portfolio Manager,

      3 yr(s). on fund

    • Catherine Crain

      Catherine Crain, CFA

      Portfolio Manager,

      23 yr(s). on fund

    • Gentry Lee

      Gentry Lee, CFA

      Chief Executive Officer and Chief Investment Officer,

      13 yr(s). on fund

    • Christopher  Sarofim

      Christopher Sarofim

      Portfolio Manager,

      23 yr(s). on fund

    • Charles E. Sheedy

      Charles E. Sheedy, CFA

      Portfolio Manager,

      23 yr(s). on fund


    Total Returns

    Average Annual
    As of 01/31/24
    Name 3 MO
    01/31/24
    YTD
    01/31/24
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Appreciation Fund, Inc.
    DGYGX
    13.37 1.88 17.52 10.11 15.51 12.25 11.00
    S&P 500® Index
    16.01 1.68 20.82 10.99 14.30 12.62 -
    Average Annual
    As of 12/31/23
    Name 3 MO
    12/31/23
    YTD
    12/31/23
    1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Appreciation Fund, Inc.
    DGYGX
    10.10 21.76 21.76 8.48 16.58 11.38 10.98
    S&P 500® Index
    11.69 26.29 26.29 10.00 15.69 12.03 -

    The performance data quotes represents past performance, which is no guarantee of future results. Yield, share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Click above for month-end returns.

    The S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. Investors cannot invest directly in any index.

    The total return performance figures presented for Class Y shares of the fund represent the performance of the fund's Investor Shares for periods prior to July 01, 2013, the inception date for Class Y shares, and the performance of Class Y, respectively, from that inception date. Performance reflects the applicable class' distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been different.

    Growth of $10,000 Investment

    Past performance is no guarantee of future results.

    Historical Performance

       

      Past performance is no guarantee of future results.

      Yearly Total Return

      Investment return fluctuates and past performance is no guarantee of future results.


      Prospectus Fee Table Expense Ratios

      As of  05/01/23 Fee Description Expense Ratio (%)
      Management Fee 0.55%
      Other Expenses 0.04%
      Total Expenses 0.59%
      Net Expenses 0.59%
      Total Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Total Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc., and the fund's sub-investment adviser is Fayez Sarofim & Co. (Sarofim & Co.). The fund is managed by a team of portfolio managers employed by Sarofim & Co., consisting of Alan R. Christensen, CFA, Catherine Crain, CFA, Gentry Lee, CFA, Christopher Sarofim and Charles Sheedy, CFA. The team is supported by Sarofim & Co.'s Investment Committee, all the members of which are senior investment professionals at Sarofim & Co. The team members hold the following positions at Sarofim & Co.: Mr. Christensen is the President and Head of Investment Risk, Ms. Crain is a Vice President and Director of Marketing and Client Services, Mr. Lee is Chief Executive Officer and Chief Investment Officer, Mr. Sarofim is Chairman, and Mr. Sheedy is a Senior Vice President. Mr. Sarofim has been a portfolio manager of the fund since October 2000. Ms. Crain and Mr. Sheedy have been portfolio managers of the fund since October 2000. Mr. Lee has been a portfolio manager of the fund since November 2010. Mr. Christensen has been a portfolio manager of the fund since March 2020.

      Top Holdings

      As of 01/31/24

      Asset Allocation


          Daily Statistics

          As of 02/27/24 Name NAV Change 02/23/24  12 Month 
          High Nav
          03/10/23  12 Month 
          Low Nav
          YTD Return
          DGYGX
          $42.63
          -$0.13
          -0.30%
          $42.92 $35.77 5.18%

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Large Growth


          Morningstar Rating™ as of 01/31/24 for the Class Y shares; other classes may have different performance characteristics. Overall rating for the Large Growth. Fund ratings are out of 5 Stars: Overall 4 Stars (1116 funds rated); 3 Yrs. 4 Stars (1116 funds rated); 5 Yrs. 4 Stars (1039 funds rated); 10 Yrs. 3 Stars (810 funds rated).
          The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance (not including the effects of sales charges, loads and redemption fees if applicable), placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-,and 10-year (if applicable) Morningstar Rating metrics. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The fund represents a single portfolio with multiple share classes that have different expense structures. Other share classes may have achieved different results.

          Lipper Rankings

          • 1 Year
            506 out of 675
          • 3 Year
            273 out of 619
          • 5 Year
            31 out of 557
          • 10 Year
            114 out of 432

          LIPPER CLASSIFICATION Large-Cap Core Funds


          Lipper Category returns and rankings as of 01/31/24, are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns. Rankings do not reflect sales loads

          Main Risks

          Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.
          Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries.

          Risk Metrics

          As of  01/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DGYGX
          18.20 -0.85 1.02 95.81 0.48

          All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is S&P 500® Index.


          Alpha - Alpha is a measure of a security's or portfolio's excess return.

          Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.

          R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

          Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.

          Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.


          Dividend Schedule

          Declared
          Quarterly
          Distributed
          Quarterly
          Paid
          Quarterly
          Fiscal Year End
          Dec 31
          Year Dividend ($) Capital Gains ($)
          2023 0.3749 2.7738
          2022 0.3459 3.0895
          2021 0.2869 1.7239
          2020 0.3394 1.8501
          2019 0.4235 3.2203
          2018 0.5268 5.6036
          2017 0.6510 5.4055
          2016 0.7025 8.7017
          2015 1.0546 11.8660
          2014 1.0915 1.9470

          There is no guarantee that the fund will distribute any level annually. Capital gains may be short-term, long-term, or both.

          Distributions History

          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends
          Qualified 
          Dividends
          Non-Qualified 
          Short-Term 
          Capital Gain
          Qualified 
          Short-Term 
          Capital Gain
          Long-Term 
          Capital Gain
          Total 
          Distribution
          12/19/23 12/20/23 12/20/23 0.0000 0.0957 0.0000 0.0000 1.9798 2.0755
          Record Date Ex-Dividend Date Payable Date Ordinary 
          Non-Qualified 
          Dividends
          Qualified 
          Dividends
          Non-Qualified 
          Short-Term 
          Capital Gain
          Qualified 
          Short-Term 
          Capital Gain
          Long-Term 
          Capital Gain
          Total 
          Distribution
          09/28/23 09/29/23 09/29/23 - 0.0832 - 0.0000 0.0000 0.0832
          06/29/23 06/30/23 06/30/23 - 0.1056 - 0.0000 0.0000 0.1056
          03/30/23 03/31/23 03/31/23 - 0.0904 - 0.0000 0.7940 0.8844
          12/20/22 12/21/22 12/21/22 0.0000 0.1005 0.0000 0.0000 2.7106 2.8111
          09/29/22 09/30/22 09/30/22 - 0.0940 - 0.0000 0.0000 0.0940
          06/29/22 06/30/22 06/30/22 - 0.0912 - 0.0000 0.0000 0.0912
          03/30/22 03/31/22 03/31/22 - 0.0602 - 0.0000 0.3789 0.4391
          12/20/21 12/21/21 12/21/21 0.0000 0.0586 0.0000 0.0050 1.6171 1.6807
          09/29/21 09/30/21 09/30/21 - 0.0486 - 0.0000 0.0000 0.0486
          06/29/21 06/30/21 06/30/21 - 0.0736 - 0.0000 0.0000 0.0736
          03/30/21 03/31/21 03/31/21 0.0000 0.1061 0.0000 0.0000 0.1018 0.2079
          12/18/20 12/21/20 12/21/20 0.0000 0.0727 0.0000 0.0000 1.4228 1.4955
          09/29/20 09/30/20 09/30/20 0.0000 0.0704 0.0000 0.0000 0.0000 0.0704
          06/29/20 06/30/20 06/30/20 0.0000 0.0855 0.0000 0.0000 0.0000 0.0855
          03/30/20 03/31/20 03/31/20 0.0000 0.1108 0.0000 0.0000 0.4273 0.5381
          12/19/19 12/20/19 12/20/19 0.0000 0.0820 0.0000 0.0000 2.2684 2.3504
          09/27/19 09/30/19 09/30/19 0.0000 0.0891 0.0000 0.0000 0.0000 0.0891
          06/27/19 06/28/19 06/28/19 0.0000 0.1144 0.0000 0.0000 0.0000 0.1144
          03/28/19 03/29/19 03/29/19 0.0000 0.1380 0.0000 0.0000 0.9519 1.0899
          12/19/18 12/20/18 12/20/18 0.0000 0.1256 0.0000 0.0000 4.9688 5.0944
          09/27/18 09/28/18 09/28/18 0.0000 0.1169 0.0000 0.0000 0.0000 0.1169
          06/28/18 06/29/18 06/29/18 0.0000 0.1413 0.0000 0.0000 0.0000 0.1413
          03/28/18 03/29/18 03/29/18 0.0000 0.1430 0.0000 0.0296 0.6052 0.7778
          12/21/17 12/22/17 12/22/17 0.0000 0.1900 0.0000 0.0000 3.1765 3.3665
          09/28/17 09/29/17 09/29/17 0.0000 0.1140 0.0000 0.0000 0.0000 0.1140
          06/29/17 06/30/17 06/30/17 0.0000 0.1480 0.0000 0.0000 0.0000 0.1480
          03/30/17 03/31/17 03/31/17 0.0000 0.1990 0.0000 0.0243 2.2047 2.4280
          12/21/16 12/22/16 12/22/16 0.0000 0.1470 0.0000 0.0000 5.3339 5.4809
          09/29/16 09/30/16 09/30/16 0.0000 0.1510 0.0000 0.0000 0.0000 0.1510
          06/29/16 06/30/16 06/30/16 0.0000 0.1840 0.0000 0.0000 0.0000 0.1840
          03/30/16 03/31/16 03/31/16 0.0000 0.2205 0.0000 0.0000 3.3678 3.5883
          12/22/15 12/23/15 12/23/15 0.0000 0.2492 0.0000 0.0000 10.8267 11.0759
          09/29/15 09/30/15 09/30/15 0.0000 0.2410 0.0000 0.0000 0.0000 0.2410
          06/29/15 06/30/15 06/30/15 0.0000 0.2670 0.0000 0.0000 0.0000 0.2670
          03/30/15 03/31/15 03/31/15 0.0000 0.2974 0.0000 0.0000 1.0393 1.3367
          12/29/14 12/30/14 12/30/14 0.0000 0.2595 0.0000 0.0000 1.9470 2.2065
          09/29/14 09/30/14 09/30/14 0.0000 0.2570 0.0000 0.0000 0.0000 0.2570
          06/27/14 06/30/14 06/30/14 0.0000 0.2750 0.0000 0.0000 0.0000 0.2750
          03/28/14 03/31/14 03/31/14 0.0000 0.3000 0.0000 0.0000 0.0000 0.3000
          12/20/13 12/23/13 12/23/13 0.0000 0.2485 0.0000 0.0000 0.0000 0.2485
          09/27/13 09/30/13 09/30/13 0.0000 0.2390 0.0000 0.0000 0.0000 0.2390
          See all rows...

          Literature

          PRODUCT MATERIALS

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          BNY Mellon Appreciation Fund, Inc. - Quality on Defense and Offense Download
          BNY Mellon Appreciation Fund, Inc. - Investment Report Download
          BNY Mellon Appreciation Fund, Inc. - Presentation Download
          BNY Mellon Appreciation Fund, Inc. - Commentary Download

          Factsheet, Prospectus and Reports

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          Factsheet Download
          Prospectus Download
          Summary Prospectus Download
          SAI Download
          Annual Report Download
          Semi Annual Report Download
          1Q Fiscal Holdings Download
          3Q Fiscal Holdings Download

          Investors should consider the investment objectives, risks, charges, and expenses of a mutual fund carefully before investing. Download a prospectus, or summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

          This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement and should not serve as a primary basis for investment decisions.

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