BNY Mellon High Yield Municipal Bond Fund
- TICKER DHYAX
- Fund Code 6165
- CUSIP 05588R869
- SHARE CLASS
-
Literature Download
Why invest in this Fund?
Morningstar Rating™ as of February 28, 2023 for the Class A class shares; other classes may have different performance characteristics. Overall rating for the High Yield Municipal category. Fund ratings are out of 5 Stars: Overall 2 Stars (187 funds rated); 3 Yrs. 1 Stars (187 funds rated); 5 Yrs. 1 Stars (167 funds rated); 10 Yrs. 3 Stars (108 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.
Portfolio Managers
-
Jeffrey Burger, CFA
Senior Portfolio Manager, Insight North America, LLC
11 yr(s). on fund
-
Daniel Barton, CFA
Head of Research, Municipal Bonds, Insight North America, LLC
11 yr(s). on fund
Total Returns
Month End
Average Annual As of 02/28/23 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 02/28/23 |
YTD 02/28/23 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon High Yield Municipal Bond Fund
DHYAX |
-4.42 | -3.77 | -16.38 | -5.79 | -0.27 | 1.88 | 3.22 |
Bloomberg U.S. Municipal Bond Index
|
0.83 | 0.55 | -5.10 | -1.60 | 1.66 | 2.11 | - |
Quarter End
Average Annual As of 12/31/22 |
|||||||
---|---|---|---|---|---|---|---|
Name |
3 MO 12/31/22 |
YTD 12/31/22 |
1 YR | 3 YRS | 5 YRS | 10 YRS | Since Inception |
BNY Mellon High Yield Municipal Bond Fund
DHYAX |
-1.66 | -20.62 | -20.62 | -4.75 | -0.72 | 1.95 | 3.20 |
Bloomberg U.S. Municipal Bond Index
|
4.10 | -8.53 | -8.53 | -0.77 | 1.25 | 2.13 | - |
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 A shares of the fund represent the performance of the fund's Class Z for periods prior to March 15, 2007, the inception date for Class A shares, and the performance of Class A, 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.
Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.
Growth of $10,000 Investment
Historical Performance
Monthly
Yearly
Prospectus Fee Table Expense Ratios
As of 12/30/22 Fee Description | Expense Ratio (%) |
---|---|
Management Fee | 0.45% |
Service Fee | 0.25% |
Other Expenses | 0.15% |
Total Expenses | 0.85% |
The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until December 31, 2023, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of Class A, Class C, Class I, Class Y and Class Z shares of the fund (including Rule 12b-1 fees, shareholder services fees, taxes, brokerage commissions, interest expenses, commitment fees on borrowings and extraordinary expenses) do not exceed an annual rate of .95%, 1.68%, .68%, .67% and .76%, respectively. On or after December 31, 2023, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.
Sales Charge
Portfolio Manager/Sub-Investment Adviser
Asset Allocation
Daily Statistics
As of 03/24/23 Name |
30-Day Sec Yield (WITHOUT WAIVER) |
30-Day Sec Yield (WITH WAIVER) |
NAV | Change |
04/04/22 12 Month High Nav |
10/25/22 12 Month Low Nav |
YTD Return |
---|---|---|---|---|---|---|---|
DHYAX
|
4.09% | 4.09% | $10.68 |
$0.05
0.47%
|
$11.94 | $9.96 | 2.19% |
Main Risks
High yield bonds involve increased credit and liquidity risk than higher rated bonds and are considered speculative in terms of the issuer's ability to pay interest and repay principal on a timely basis.
Municipal income may be subjectto state and local taxes. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.
Recent market risks include pandemic risks related to COVID-19. The effects of COVID-19 have contributed to increased volatility in global markets and will likely affect certain countries, companies, industries and market sectors more dramatically than others. To the extent the fund may overweight its investments in certain countries, companies, industries or market sectors, such positions will increase the fund's exposure to risk of loss from adverse developments affecting those countries, companies, industries or sectors.
Risk Metrics
As of 02/28/23 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
---|---|---|---|---|---|
DHYAX
|
12.36 | -0.54 | 1.71 | 84.93 | -0.38 |
All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Bloomberg U.S. Municipal Bond Index.
Dividend Schedule
As of 02/2023
Month/Year | Dividend ($) |
---|---|
02/2023 | 0.030086908 |
01/2023 | 0.035228565 |
12/2022 | 0.032832606 |
11/2022 | 0.033015246 |
10/2022 | 0.033290555 |
09/2022 | 0.030705356 |
08/2022 | 0.033087482 |
07/2022 | 0.030463683 |
06/2022 | 0.031212697 |
05/2022 | 0.034303181 |
04/2022 | 0.030217769 |
03/2022 | 0.029901432 |
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 |
Reinvest NAV |
---|---|---|---|---|---|---|---|---|---|
12/27/18 | 12/28/18 | 12/28/18 | 0.0000 | 0.0000 | 0.0078 | 0.0000 | 0.0000 | 0.0078 | 12.09 |
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 |
Reinvest NAV |
---|---|---|---|---|---|---|---|---|---|
12/27/17 | 12/28/17 | 12/28/17 | 0.0000 | 0.0000 | 0.0218 | 0.0000 | 0.0000 | 0.0218 | - |
12/28/16 | 12/29/16 | 12/29/16 | 0.0000 | 0.0000 | 0.0087 | 0.0000 | 0.0000 | 0.0087 | - |
12/22/15 | 12/23/15 | 12/23/15 | 0.0000 | 0.0000 | 0.0040 | 0.0000 | 0.0000 | 0.0040 | - |
12/17/14 | 12/18/14 | 12/18/14 | 0.0000 | 0.0000 | 0.0101 | 0.0000 | 0.0000 | 0.0101 | - |
12/18/13 | 12/19/13 | 12/19/13 | 0.0000 | 0.0000 | 0.0111 | 0.0000 | 0.0000 | 0.0111 | - |
12/12/12 | 12/13/12 | 12/13/12 | 0.0000 | 0.0000 | 0.0033 | 0.0000 | 0.0000 | 0.0033 | - |
12/07/11 | 12/08/11 | 12/08/11 | 0.0000 | 0.0000 | 0.0169 | 0.0000 | 0.0000 | 0.0169 | - |
12/08/10 | 12/09/10 | 12/09/10 | 0.0000 | 0.0000 | 0.0097 | 0.0000 | 0.0000 | 0.0097 | - |
Literature
PRODUCT MATERIALS
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