BNY Mellon Short Term Income Fund

TICKER DSTIX
Fund Code 0083
CUSIP 05600G107
SHARE CLASS
- Class A
- Class D
- Class I
- Class Y
Literature Download

Why invest in this Fund?

Effective May 6, 2022 (the "Effective Date"), the fund's policy to invest at least 80% of its net assets, plus any borrowings for investment purposes, in fixed-income securities of U.S. and foreign issuers rated investment grade or the unrated equivalent as determined by the fund's sub-adviser will be terminated. The fund, however, will continue to invest principally in fixed-income securities of U.S. and foreign issuers after the Effective Date. o pursue its goal, the fund normally invests principally in fixed-income securities of U.S. and foreign issuers. Typically, the fund's portfolio can be expected to have an average effective maturity and an average effective duration of three and one-half years or less.For additional yield, the fund may invest up to 35% of its assets in fixed-income securities rated below investment grade ("high yield" or "junk" bonds) to as low as Caa/CCC or the unrated equivalent as determined by the fund's sub-adviser.

Min. class investment

$1,000

Class Inception Date

08/18/92

Fund Assets

$110,616,939 As of 03/24/23

Class Assets

$104,114,808 As of 03/24/23

Portfolio Turnover Rate

43.43% As of fiscal year end 07/31/22

Morningstar Category

Short-Term Bond

Benchmark

ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index

Fund Holdings

303 As of 02/28/23

AVERAGE EFFECTIVE MATURITY

2.46 yr(s). As of 02/28/23

AVERAGE EFFECTIVE DURATION

2.31 yr(s). As of 02/28/23

Morningstar Rating™ as of February 28, 2023 for the Class D class shares; other classes may have different performance characteristics. Overall rating for the Short-Term Bond category. Fund ratings are out of 5 Stars: Overall 2 Stars (543 funds rated); 3 Yrs. 3 Stars (543 funds rated); 5 Yrs. 2 Stars (479 funds rated); 10 Yrs. 2 Stars (349 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

David R. Bowser, CFA

Senior Portfolio Manager, Insight North America, LLC

14 yr(s). on fund
Scott Zaleski, CFA

Senior Portfolio Manager, Insight North America, LLC

3 yr(s). on fund
Gautam Khanna

Head of US Multi Sector Fixed Income,

Since May 2022

Performance

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 Short Term Income Fund DSTIX	0.98	0.73	-3.11	-0.71	0.78	0.66	3.29
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index	0.12	0.01	-4.03	-1.30	1.01	0.99	-

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 Short Term Income Fund DSTIX	1.37	-5.63	-5.63	-0.46	0.54	0.63	3.28
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index	1.22	-5.54	-5.54	-0.67	0.87	1.01	-

The ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index tracks the performance of U.S. dollar-denominated investment-grade debt publicly issued in the U.S. domestic market, including U.S. Treasury, U.S. agency, foreign government, supranational and corporate securities, including all securities with a remaining term to final maturity less than five years. Investors cannot invest directly in any index.

Growth of $10,000 Investment

Historical Performance

Monthly

Fund	02/23	01/23	12/22	11/22	10/22	09/22	08/22	07/22	06/22	05/22	04/22	03/22
DSTIX	3.18%	3.06%	3.04%	2.98%	2.71%	2.58%	2.15%	1.14%	1.40%	1.98%	1.71%	1.74%

Yearly

Fund	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
DSTIX	-5.63%	-0.40%	4.94%	4.62%	-0.48%	1.47%	1.32%	-0.33%	0.30%	0.87%

Fees & Expenses

Prospectus Fee Table Expense Ratios

As of 12/01/22 Fee Description	Expense Ratio (%)
Management Fee	0.30%
Service Fee	0.20%
Other Expenses	0.61%
Total Expenses	1.11%
Expenses Reimbursed	0.51%
Net Expenses	0.60%

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 contractually agreed, until December 1, 2023, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of its classes (excluding shareholder services fees, taxes, interest, brokerage Commissions, commitment fees on borrowings and extraordinary expenses) exceed 0.40%. On or after December 1, 2023, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.

Portfolio

Portfolio Manager/Sub-Investment Adviser

The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser), and the fund's sub-adviser is Insight North America LLC (INA), an affiliate of BNYM Investment Adviser. David Bowser, CFA, Scott Zaleski, CFA and Gautam Khanna, CFA are the fund's primary portfolio managers, positions they have held since July 2008, July 2019 and May2022, respectively. Messrs. Bowser, Zaleski and Khanna are senior portfolio managers at INA.

Top Holdings

Download Total Holdings

As of 02/28/23

Holdings	% Portfolio Weight
United States Treasury Note/Bond, 2.875%, 05/31/2025	3.60
United States Treasury Note/Bond, 1.125%, 02/28/2027	2.87
United States Treasury Note/Bond, 6.25%, 08/15/2023	1.85
United States Treasury Note/Bond, 3.125%, 08/31/2027	1.33
United States Treasury Note/Bond, 4.125%, 10/31/2027	1.30
Penfed Auto Receivables Owner Trust 2022-A, 4.83%, 12/15/2028	0.88
New Economy Assets - Phase 1 Sponsor, 1.91%, 10/20/2061	0.88
Petroleos Mexicanos, 4.25%, 01/15/2025	0.87
Sealed Air, 1.573%, 10/15/2026	0.85
Berkshire Hathaway, 0.1417%, 03/12/2025	0.78

Asset Allocation

Stats & Risks

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	10/20/22 12 Month Low Nav	YTD Return
DSTIX	3.47%	4.12%	$9.56	$0.00 0.00%	$9.80	$9.27	2.24%

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 decline.

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
DSTIX	3.94	0.50	0.46	50.32	-0.42

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.

Distributions

Dividend Schedule

Declared

Daily

Distributed

Monthly

Paid

Monthly

Fiscal Year End

Jul 31

Annualized Distribution Rate

3.18%
As of 02/2023

Month/Year	Dividend ($)
02/2023	0.022992426
01/2023	0.025637778
12/2022	0.023520678
11/2022	0.023091355
10/2022	0.021455284
09/2022	0.019839015
08/2022	0.018515422
07/2022	0.008751136
06/2022	0.010997690
05/2022	0.016763969
04/2022	0.013194715
03/2022	0.014493456

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
12/01/21	12/02/21	12/02/21	0.0000	0.0000	0.0074	0.0000	0.0000	0.0074	10.18

Record Date	Ex-Dividend Date	Payable Date	Non-Qualified Short-Term Capital Gain	Total Distribution	Reinvest NAV
12/02/20	12/03/20	12/03/20	0.0213	0.0213	-
12/03/18	12/04/18	12/04/18	0.0790	0.0790	-
12/04/17	12/05/17	12/05/17	0.0400	0.0400	-
12/04/13	12/05/13	12/05/13	0.0089	0.0089	-
12/05/12	12/06/12	12/06/12	0.0237	0.0237	-
12/20/07	12/21/07	12/21/07	0.0065	0.0065	-
12/21/05	12/22/05	12/22/05	0.0150	0.0150	-
12/21/04	12/22/04	12/22/04	0.0090	0.0090	-
12/19/03	12/22/03	12/22/03	0.0069	0.0069	-
12/29/92	12/30/92	12/31/92	0.0240	0.0240	-

Literature

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BNY Mellon Short Term Income Fund