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    BNY Mellon Bond Market Index Fund

    Why invest in this Fund?

    The fund seeks to match the total return of the Bloomberg U.S. Aggregate Bond Index (the "Index"). Accordingly, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds that are included in the Index. To maintain liquidity, the fund may invest up to 20% of its assets in various short-term, fixed-income securities and money market instruments. The fund's investments are selected by a "sampling" process, a statistical process used to select bonds.
    Min. class investment
    $1,000
    Class Inception Date
    11/30/93
    Fund Assets
    $552,541,671  As of  02/28/24
    Class Assets
    $331,722,594  As of  02/28/24
    Portfolio Turnover Rate
    160.90% As of fiscal year end  10/31/23
    Morningstar Category
    Intermediate Core Bond
    Benchmark
    Bloomberg U.S. Aggregate Bond Index
    Morningstar Overall Rating
    Fund Holdings
    2667 As of 01/31/24
    AVERAGE EFFECTIVE MATURITY
    8.45 yr(s).  As of  01/31/24
    AVERAGE EFFECTIVE DURATION
    6.17 yr(s).   As of  01/31/24

    Morningstar Rating™ as of January 31, 2024 for the Class I class shares; other classes may have different performance characteristics. Overall rating for the Intermediate Core Bond category. Fund ratings are out of 5 Stars: Overall 3 Stars (425 funds rated); 3 Yrs. 3 Stars (425 funds rated); 5 Yrs. 3 Stars (386 funds rated); 10 Yrs. 3 Stars (277 funds rated).

    Yields and Expense Ratio

    30-DAY SEC YIELD
    as of 02/28/24
    ANNUALIZED
    DISTRIBUTION RATE
    as of 01/31/24
    PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of 03/01/23
    Subsidized Unsubsidized Net Gross Contractual
    Fee Waiver End Date
    4.31 4.31 3.50 0.15 0.16 -

    Yield fluctuates and past performance is no guarantee of future results.

    The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.

    Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.

     

     

    Portfolio Turnover Rate - It is a measure of how quickly securities in a fund are either bought or sold by the fund's managers, over a given period of time.

    Average Effective Maturity (AEM) - is a measure of maturity that takes into account the possibility that a bond might be called back by the issuer. For a portfolio of bonds, average effective maturity is the weighted average of the maturities of the underlying bonds.

    Average Effective Duration - It is used to measure the market price sensitivity of the fund’s portfolio holdings to changes in interest-rates. Duration is not a complete measure of bond risk and may not be successful.

    Portfolio Managers

    • Nancy G.  Rogers

      Nancy G. Rogers, CFA

      Portfolio Manager, Mellon Investments Corporation

      14 yr(s). on fund

    • Gregory A.   Lee

      Gregory A. Lee, CFA

      Portfolio Manager, Mellon Investments Corporation

      2 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 Bond Market Index Fund
    DBIRX
    8.17 -0.15 1.99 -3.35 0.68 1.45 4.13
    Bloomberg U.S. Aggregate Bond Index
    8.23 -0.27 2.10 -3.17 0.83 1.63 -
    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 Bond Market Index Fund
    DBIRX
    6.67 5.39 5.39 -3.54 0.92 1.61 4.15
    Bloomberg U.S. Aggregate Bond Index
    6.82 5.53 5.53 -3.31 1.10 1.81 -

    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 Bloomberg U.S. Aggregate Total Return Index is designed to measure the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage-backed pass-through securities (agency fixed-rate), commercial mortgage-backed securities (agency and non-agency) and other asset-backed securities having at least one year until final maturity. To be included in the index, securities must be rated investment grade (Baa3/BBB-/BBB- or higher) using the middle rating of Moody’s, S&P and Fitch. Investors cannot invest directly in an index.

     

    When applicable, returns reflect a contractual expense reduction, without which returns would have been lower. Please see contractual expense reduction information, if any, in the Prospectus Fee Table below.

    Growth of $10,000 Investment

    Past performance is no guarantee of future results.

    Historical Performance

      Not available for purchase by individual investors.

       

      Past performance is no guarantee of future results.

      Yield fluctuates and past performance is no guarantee of future results.

      Monthly yield history is the annualized distribution rate that is based upon dividends per share from net investment income paid during the period, divided by the period ended maximum offering price per share, adjusted for capital gains (IF ANY) distributed during the period, and annualized based upon the number of days in the distribution period.


      Prospectus Fee Table Expense Ratios

      As of  03/01/23 Fee Description Expense Ratio (%)
      Management Fee 0.15%
      Other Expenses 0.01%
      Total Expenses 0.16%
      Expenses Reimbursed 0.01%
      Net Expenses 0.15%
      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.
      The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has agreed in its investment management agreement with the fund to: (1) pay all of the fund's expenses, except management fees, Rule 12b-1 fees and certain other expenses, including the fees and expenses of the non-interested board members and their counsel, and (2) reduce its fees pursant to the investment management agreement in an amount equal to the fund's allocable portion of the fees and expenses of the non-interested board members and their counsel (in the amount of .01% for the past fiscal year). These provisions in the investment management agreement may not be amended without the approval of the fund's shareholders.

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). Nancy Rogers, CFA and Gregg Lee, CFA are the fund's primary portfolio managers, positions they have held since February 2010 and October 2021, respectively. Ms. Rogers is a managing director and Head of Fixed Income Index portfolio management at Mellon Investments Corporation (Mellon), an affiliate of BNYM Investment Adviser. Mr. Lee is a senior portfolio manager and director at Mellon. Ms. Rogers and Mr. Lee also are employees of BNYM Investment Adviser.

      Top Holdings

      As of 01/31/24

      Asset Allocation


          Daily Statistics

          As of 02/28/24 Name NAV Change 04/06/23  12 Month 
          High Nav
          10/19/23  12 Month 
          Low Nav
          YTD Return
          DBIRX
          $8.89
          $0.02
          0.23%
          $9.23 $8.40 -1.75%

          Past performance is no guarantee of future results.

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Intermediate Core Bond


          Morningstar Rating™ as of 01/31/24 for the Class I shares; other classes may have different performance characteristics. Overall rating for the Intermediate Core Bond. Fund ratings are out of 5 Stars: Overall 3 Stars (425 funds rated); 3 Yrs. 3 Stars (425 funds rated); 5 Yrs. 3 Stars (386 funds rated); 10 Yrs. 3 Stars (277 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
            358 out of 521
          • 3 Year
            293 out of 487
          • 5 Year
            340 out of 460
          • 10 Year
            224 out of 335

          LIPPER CLASSIFICATION Core Bond 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

          Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines.
          The fund uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor stock performance.

          Risk Metrics

          As of  01/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DBIRX
          7.24 -0.19 1.00 99.89 -0.81

          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 Bloomberg U.S. Aggregate Bond 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
          Daily
          Distributed
          Monthly
          Paid
          Monthly
          Fiscal Year End
          Oct 31

          Annualized distribution rate is based upon dividends per share from net investment income paid during the period, divided by the period ended maximum offering price per share, adjusted for capital gains (IF ANY) distributed during the period, and annualized based upon the number of days in the distribution period.

          Month/Year Dividend ($)
          01/2024 0.026043919
          12/2023 0.027684522
          11/2023 0.025794450
          10/2023 0.027078031
          09/2023 0.024556644
          08/2023 0.025747257
          07/2023 0.025336005
          06/2023 0.024521755
          05/2023 0.026694507
          04/2023 0.022547919
          03/2023 0.024430785
          02/2023 0.022171950

          All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid

          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
          12/14/21 12/15/21 12/15/21 0.0000 0.0000 0.0039 0.0000 0.0915 0.0954
          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
          12/14/20 12/15/20 12/15/20 0.0000 0.0000 0.0000 0.0000 0.0444 0.0444
          12/17/18 12/18/18 12/18/18 0.0000 0.0000 0.0031 0.0000 0.0000 0.0031
          12/19/17 12/20/17 12/20/17 0.0000 0.0000 0.0061 0.0000 0.0000 0.0061
          12/19/16 12/20/16 12/20/16 0.0000 0.0000 0.0292 0.0000 0.0210 0.0502
          12/18/15 12/21/15 12/21/15 0.0000 0.0000 0.0422 0.0000 0.0069 0.0491
          12/19/14 12/22/14 12/22/14 0.0000 0.0000 0.0336 0.0000 0.0502 0.0838
          12/19/13 12/20/13 12/20/13 0.0000 0.0000 0.0050 0.0000 0.1373 0.1423
          12/20/12 12/21/12 12/21/12 0.0000 0.0000 0.0000 0.0000 0.0250 0.0250
          12/16/04 12/17/04 12/17/04 0.0000 0.0000 0.0000 0.0000 0.0127 0.0127
          12/18/03 12/19/03 12/19/03 0.0000 0.0000 0.0000 0.0000 0.0469 0.0469
          11/30/98 12/01/98 12/01/98 0.0000 0.0000 0.0175 0.0000 0.0000 0.0700
          11/26/97 11/28/97 11/28/97 0.0000 0.0000 0.0270 0.0000 0.0000 0.0520
          See all rows...

          Literature

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