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    BNY Mellon California AMT-Free Municipal Bond Fund, Inc.

    Why invest in this Fund?

    The fund seeks as high a level of current income, exempt from federal and California state income taxes, as is consistent with the preservation of capital.

    To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal and California state income taxes. The fund also seeks to provide income exempt from the federal alternative minimum tax. Municipal bonds are debt securities or other obligations issued by states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, or multistate agencies and authorities, and certain other specified securities.

    Min. class investment
    $1,000,000
    Class Inception Date
    07/01/13
    Fund Assets
    $600,076,411  As of  02/28/24
    Class Assets
    $10,081  As of  02/28/24
    Portfolio Turnover Rate
    6.81% As of fiscal year end  05/31/23
    Morningstar Category
    Municipal California Long
    Benchmark
    Bloomberg U.S. Municipal Bond Index
    Morningstar Overall Rating
    Fund Holdings
    190 As of 01/31/24
    AVERAGE EFFECTIVE MATURITY
    14.94 yr(s).  As of  01/31/24
    AVERAGE EFFECTIVE DURATION
    6.06 yr(s).  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 Municipal California Long category. Fund ratings are out of 5 Stars: Overall 3 Stars (102 funds rated); 3 Yrs. 3 Stars (102 funds rated); 5 Yrs. 2 Stars (96 funds rated); 10 Yrs. 3 Stars (76 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 09/29/23
    Subsidized Unsubsidized Net Gross Contractual
    Fee Waiver End Date
    3.29 3.29 2.67 0.65 0.65 -

    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

    • Thomas Casey

      Thomas Casey

      Senior Portfolio Manager, Insight North America LLC

      12 yr(s). on fund

    • Jeffrey  Burger

      Jeffrey Burger, CFA

      Senior Portfolio Manager, Insight North America, LLC

      14 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 California AMT-Free Municipal Bond Fund, Inc.
    DCAYX
    9.15 -0.08 2.90 -1.44 1.36 2.52 5.20
    Bloomberg U.S. Municipal Bond Index
    8.26 -0.51 2.90 -0.78 2.00 2.78 -
    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 California AMT-Free Municipal Bond Fund, Inc.
    DCAYX
    7.46 5.95 5.95 -1.15 1.49 2.78 5.21
    Bloomberg U.S. Municipal Bond Index
    7.89 6.40 6.40 -0.40 2.25 3.03 -

    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 Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. 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 Class Z 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.

     

    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.

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


      Prospectus Fee Table Expense Ratios

      As of  09/29/23 Fee Description Expense Ratio (%)
      Management Fee 0.45%
      Other Expenses 0.20%
      Total Expenses 0.65%
      Net Expenses 0.65%
      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. (BNYM Investment Adviser). BNYM Investment Adviser has engaged its affiliate, Insight North America LLC (INA), to serve as the fund's sub-investment adviser. The fund's primary portfolio managers are Jeffrey Burger, CFA and Thomas Casey, positions they have held since December 2009 and February 2012, respectively. Messrs. Burger and Casey are senior portfolio managers for tax-sensitive strategies at Insight North America LLC (INA), an affiliate of BNY Mellon Investment Adviser, Inc.

      Asset Allocation


          Daily Statistics

          As of 02/28/24 Name NAV Change 02/01/24  12 Month 
          High Nav
          10/30/23  12 Month 
          Low Nav
          YTD Return
          DCAYX
          $13.55
          $0.00
          0.00%
          $13.63 $12.52 -0.02%

          Past performance is no guarantee of future results.

          Performance Metrics

          Overall Morningstar Rating


          MORNINGSTAR CATEGORY Municipal California Long


          Morningstar Rating™ as of 01/31/24 for the Class Y shares; other classes may have different performance characteristics. Overall rating for the Municipal California Long. Fund ratings are out of 5 Stars: Overall 3 Stars (102 funds rated); 3 Yrs. 3 Stars (102 funds rated); 5 Yrs. 2 Stars (96 funds rated); 10 Yrs. 3 Stars (76 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
            71 out of 120
          • 3 Year
            76 out of 118
          • 5 Year
            83 out of 111
          • 10 Year
            59 out of 89

          LIPPER CLASSIFICATION California Municipal Debt 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.
          Municipal income may be subject to state and local taxes for out-of-state residents. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.

          Risk Metrics

          As of  01/31/24  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DCAYX
          7.87 -0.49 1.04 98.63 -0.49

          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. Municipal 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
          May 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 0.029813195
          12/2023 0.033039144
          11/2023 0.031479934
          10/2023 0.033012262
          09/2023 0.029745987
          08/2023 0.031681559
          07/2023 0.031143899
          06/2023 0.026748534
          05/2023 0.030082019
          04/2023 0.025552241
          03/2023 0.031829412
          02/2023 0.025283413

          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
          12/22/22 12/23/22 12/23/22 0.0000 0.0000 0.0000 0.0000 0.0085 0.0085
          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
          12/22/21 12/23/21 12/23/21 0.0000 0.0000 0.0018 0.0000 0.0205 0.0223
          12/22/20 12/23/20 12/23/20 0.0000 0.0000 0.0000 0.0000 0.0272 0.0272
          12/26/19 12/27/19 12/27/19 0.0000 0.0000 0.0153 0.0000 0.0254 0.0407
          12/27/18 12/28/18 12/28/18 0.0000 0.0000 0.0020 0.0000 0.0607 0.0627
          12/27/17 12/28/17 12/28/17 0.0000 0.0000 0.0086 0.0000 0.1166 0.1252
          12/28/16 12/29/16 12/29/16 0.0000 0.0000 0.0030 0.0000 0.0000 0.0030

          Literature

          PRODUCT MATERIALS

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          WHY MUNICIPALS ARE MORE THAN JUST TAX BENEFITS - BROCHURE Download
          MUNICIPAL BOND FRANCHISE PITCHBOOK Download
          BNY Mellon California AMT-Free Municipal Bond 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.

          Please consult a legal, tax or investment professional in order to determine whether an investment product or service is appropriate for a particular situation.