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

$94,045,501 As of 09/22/23

Class Assets

$87,415,518 As of 09/22/23

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

Morningstar Overall Rating

Fund Holdings

296 As of 08/31/23

AVERAGE EFFECTIVE MATURITY

2.29 yr(s). As of 08/31/23

AVERAGE EFFECTIVE DURATION

2.42 yr(s). As of 08/31/23

Morningstar Rating™ as of August 31, 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 3 Stars (532 funds rated); 3 Yrs. 3 Stars (532 funds rated); 5 Yrs. 3 Stars (488 funds rated); 10 Yrs. 2 Stars (354 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

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

Senior Portfolio Manager, Insight North America, LLC

4 yr(s). on fund
Gautam Khanna

Head of US Multi Sector Fixed Income,

1 yr(s). on fund

Performance

Total Returns

Month End

			Average Annual As of 08/31/23
Name	3 MO 08/31/23	YTD 08/31/23	1 YR	3 YRS	5 YRS	10 YRS	Since Inception
BNY Mellon Short Term Income Fund DSTIX	0.61	2.77	2.43	-0.77	1.24	0.93	3.30
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index	0.06	1.88	1.21	-1.44	1.21	1.24	-

Quarter End

			Average Annual As of 06/30/23
Name	3 MO 06/30/23	YTD 06/30/23	1 YR	3 YRS	5 YRS	10 YRS	Since Inception
BNY Mellon Short Term Income Fund DSTIX	-0.22	1.77	1.72	-0.71	1.09	0.85	3.29
ICE BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index	-0.57	1.21	0.18	-1.52	1.17	1.18	-

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 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.

Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

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

Past performance is no guarantee of future results.

Monthly

Fund	08/23	07/23	06/23	05/23	04/23	03/23	02/23	01/23	12/22	11/22	10/22	09/22
DSTIX	3.61%	2.98%	3.18%	3.54%	3.33%	3.50%	3.18%	3.06%	3.04%	2.98%	2.71%	2.58%

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 08/31/23

Holdings	% Portfolio Weight
United States Treasury Note/Bond, 3.125%, 08/31/2027	1.55
United States Treasury Note/Bond, 2.875%, 05/31/2025	1.38
New Economy Assets - Phase 1 Sponsor, 1.91%, 10/20/2061	1.03
Penfed Auto Receivables Owner Trust 2022-A, 4.83%, 12/15/2028	1.02
Petroleos Mexicanos, 4.25%, 01/15/2025	1.00
Sealed Air, 1.573%, 10/15/2026	1.00
United States Treasury Note/Bond, 1.5%, 02/29/2024	0.99
Berkshire Hathaway, 0.1449%, 03/12/2025	0.95
Parkland, 5.875%, 07/15/2027	0.90
Evergy Missouri West, 5.15%, 12/15/2027	0.89

Asset Allocation

Stats & Risks

Daily Statistics

As of 09/22/23 Name	30-Day Sec Yield (WITHOUT WAIVER)	30-Day Sec Yield (WITH WAIVER)	NAV	Change	05/04/23 12 Month High Nav	10/20/22 12 Month Low Nav	YTD Return
DSTIX	4.10%	4.40%	$9.42	$0.01 0.11%	$9.60	$9.27	2.46%

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.

Performance Metrics

Overall Morningstar Rating

MORNINGSTAR CATEGORY Short-Term Bond

Morningstar Rating™ as of 08/31/23 for the Class D shares; other classes may have different performance characteristics. Overall rating for the Short-Term Bond. Fund ratings are out of 5 Stars: Overall 3 Stars (532 funds rated); 3 Yrs. 3 Stars (532 funds rated); 5 Yrs. 3 Stars (488 funds rated); 10 Yrs. 2 Stars (354 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
187 out of 381
3 Year
261 out of 347
5 Year
190 out of 313
10 Year
182 out of 229

LIPPER CLASSIFICATION Short Investment Grade Debt Funds

Lipper Category returns and rankings 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 decline.

Risk Metrics

As of 08/31/23 3-Year Trailing	Standard Deviation	Alpha	Beta	R-Squared	Sharpe Ratio
DSTIX	2.72	-0.16	0.40	82.35	-0.99

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.

Distributions

Dividend Schedule

Declared

Daily

Distributed

Monthly

Paid

Monthly

Fiscal Year End

Jul 31

Annualized Distribution Rate

3.61%
As of 08/2023

Month/Year	Dividend ($)
08/2023	0.029041188
07/2023	0.023986307
06/2023	0.024674879
05/2023	0.030371053
04/2023	0.024394878
03/2023	0.028358367
02/2023	0.022992426
01/2023	0.025637778
12/2022	0.023520678
11/2022	0.023091355
10/2022	0.021455284
09/2022	0.019839015

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