BNY Mellon Dynamic Total Return Fund
- TICKER AVGRX
- Fund Code 6142
- CUSIP 05587N307
- SHARE CLASS
-
Literature Download
Why invest in this Fund?
The fund seeks total return. The fund pursues its goal by normally investing in instruments that provide investment exposure to global equity, bond, currency and commodity markets, and in fixed-income securities. The fund may invest in instruments that provide economic exposure to developed and, to a limited extent, emerging market issuers. The fund may invest up to 30% of its net assets in emerging market issuers and considers emerging market countries to be those included in the Morgan Stanley Capital International Emerging Markets Index.
Morningstar Rating™ as of July 31, 2024 for the Class I class shares; other classes may have different performance characteristics. Overall rating for the Macro Trading category. Fund ratings are out of 5 Stars: Overall 3 Stars (53 funds rated); 3 Yrs. 3 Stars (53 funds rated); 5 Yrs. 3 Stars (52 funds rated); 10 Yrs. 3 Stars (31 funds rated).
Portfolio Managers
-
James Stavena, CFA
Portfolio Manager, Newton Investment Management North America, LLC
Managing Fund Since 2010
Joined Firm in 1998
Joined Industry in 1991
-
Dimitri Curtil
Leader, Systematic Multi-asset Products and Solutions, Newton Investment Management North America, LLC
Managing Fund Since 2020
Joined Firm in 2006
Joined Industry in 2005
-
Torrey Zaches, CFA
Portfolio Manager, Newton Investment Management North America, LLC
Managing Fund Since 2010
Joined Firm in 1998
Joined Industry in 1994
Total Returns
Month End
Average Annual As of 07/31/24 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 07/31/24 |
YTD 07/31/24 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon Dynamic Total Return Fund
AVGRX |
2.31 | 10.79 | 12.38 | 2.13 | 4.24 | 3.64 | 3.62 |
Customized Blended Index (Dynamic Total Return)
|
6.65 | 7.57 | 11.57 | 1.46 | 6.26 | 5.51 | - |
Quarter End
Average Annual As of 06/30/24 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 06/30/24 |
YTD 06/30/24 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon Dynamic Total Return Fund
AVGRX |
2.17 | 10.79 | 13.79 | 2.92 | 4.39 | 3.51 | 3.64 |
Customized Blended Index (Dynamic Total Return)
|
0.94 | 5.25 | 11.51 | 1.30 | 5.82 | 5.14 | - |
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 MSCI World Index is a free float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of developed markets. Investors cannot invest directly in any index. The FTSE World Government Bond Index (the "WGB Index") measures the performance of fixed-rate, local currency, investment-grade sovereign bonds. The WGB Index is a widely used benchmark that currently comprises sovereign debt from over 20 countries, denominated in a variety of currencies, and has more than 25 years of history available. The WGB Index provides a broad benchmark for the global sovereign fixed income market. Investors cannot invest directly in any index.
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.
Yearly Total Return
Yearly
Investment return fluctuates and past performance is no guarantee of future results.
Prospectus Fee Table Expense Ratios
As of 04/01/24 Fee Description | Expense Ratio (%) |
---|---|
Management Fee | 1.10% |
Other Expenses | 0.46% |
Total Expenses | 1.56% |
Expenses Reimbursed | 0.51% |
Net Expenses | 1.05% |
The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, for so long as the fund invests in the subsidiary, to waive the management fee it receives from the fund in the amount equal to the management fee paid to BNY Mellon Investment Adviser, Inc. by the subsidiary.?In addition, BNY Mellon Investment Adviser, Inc. has also contractually agreed, until March 1, 2025, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the fund's share classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed 1.15%. On or after March 1, 2025, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time. Effective on April 1, 2024, BNY Mellon Investment Adviser, Inc has also has contractually agreed to waive receipt of a portion of its management fee in the amount of .10% of the value of the fund's average daily net assets until March 1, 2025.?On or after March 1, 2025, BNY Mellon Investment Adviser, Inc. may terminate this waiver agreement at any time.
Portfolio Manager/Sub-Investment Adviser
Asset Allocation
Daily Statistics
As of 08/30/24 Name | NAV | Change |
07/16/24 12 Month High Nav |
01/03/24 12 Month Low Nav |
YTD Return |
---|---|---|---|---|---|
AVGRX
|
$15.32 |
$0.02
0.13%
|
$15.79 | $13.97 | 9.43% |
Performance Metrics
Overall Morningstar Rating
MORNINGSTAR CATEGORY Macro Trading
Morningstar Rating™ as of 07/31/24 for the Class I shares; other classes may have different performance
characteristics. Overall rating for the Macro Trading. Fund ratings are out of 5 Stars: Overall
3 Stars (53 funds rated); 3 Yrs.
3 Stars (53 funds rated); 5 Yrs.
3 Stars (52 funds rated); 10 Yrs.
3 Stars (31 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
22 out of 149 -
3 Year
69 out of 129 -
5 Year
75 out of 127 -
10 Year
56 out of 109
LIPPER CLASSIFICATION Alternative Global Macro Funds
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. Short sales involve selling a security the portfolio does not own in anticipation that the security's price will decline. Short sales may involve risk and leverage, and expose the portfolio to the risk that it will be required to buy the security sold short at a time when the security has appreciated in value, thus resulting in a loss.
Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be suitable for all investors.
Derivatives and commodity-linked derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid, and difficult to value and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolio's other investments. Commodity-linked derivative instruments may involve additional costs and risks such as commodity index volatility or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments.
Risk Metrics
As of 07/31/24 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
---|---|---|---|---|---|
AVGRX
|
9.92 | -2.46 | 0.44 | 55.52 | -0.10 |
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 MSCI ACWI 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
As of
Year | Dividend ($) | Capital Gains ($) |
---|---|---|
2023 | 0.7026 | 0.0000 |
2022 | 0.2220 | 0.0000 |
2021 | 0.1169 | 2.7426 |
2019 | 0.2166 | 0.3310 |
2018 | 0.1892 | 0.0000 |
2017 | 0.0000 | 0.8172 |
2016 | 0.0000 | 0.0294 |
2014 | 0.0296 | 0.0000 |
2012 | 0.0070 | 0.0000 |
2008 | 0.4230 | 0.0000 |
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 |
---|---|---|---|---|---|---|---|---|
12/18/23 | 12/19/23 | 12/19/23 | 0.7026 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.7026 |
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 |
---|---|---|---|---|---|---|---|---|
12/19/22 | 12/20/22 | 12/20/22 | 0.2220 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.2220 |
12/17/21 | 12/20/21 | 12/20/21 | 0.1169 | 0.0000 | 1.1668 | 0.0000 | 1.5758 | 2.8595 |
12/20/19 | 12/23/19 | 12/23/19 | 0.2166 | 0.0000 | 0.2282 | 0.0000 | 0.1028 | 0.5476 |
12/19/18 | 12/20/18 | 12/20/18 | 0.1683 | 0.0209 | 0.0000 | 0.0000 | 0.0000 | 0.1892 |
12/21/17 | 12/22/17 | 12/22/17 | 0.0000 | 0.0000 | 0.4630 | 0.0275 | 0.3267 | 0.8172 |
12/22/16 | 12/23/16 | 12/23/16 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 0.0294 | 0.0294 |
03/28/14 | 03/31/14 | 03/31/14 | 0.0000 | 0.0296 | 0.0000 | 0.0000 | 0.0000 | 0.0296 |
12/20/12 | 12/21/12 | 12/21/12 | 0.0000 | 0.0070 | 0.0000 | 0.0000 | 0.0000 | 0.0070 |
12/29/08 | 12/30/08 | 12/30/08 | 0.1591 | 0.2639 | 0.0000 | 0.0000 | 0.0000 | 0.4230 |
12/27/07 | 12/28/07 | 12/28/07 | 0.2529 | 0.0481 | 0.1229 | 0.0234 | 0.0229 | 0.4702 |
12/27/06 | 12/28/06 | 12/28/06 | 0.0701 | 0.0000 | 0.1207 | 0.0000 | 0.0412 | 0.2320 |
Literature
PRODUCT MATERIALS
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BNY Mellon Dynamic Total Return Fund - Commentary | Download | Share |
Factsheet, Prospectus and Reports
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