BNY Mellon Tax Managed Growth Fund
- TICKER DTMGX
- Fund Code 0149
- CUSIP 05589K871
- SHARE CLASS
-
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Why invest in this Fund?
The fund seeks long-term capital appreciation consistent with minimizing realized capital gains. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stocks and employs a tax-managed strategy. The fund focuses on 'blue-chip' companies with market capitalizations exceeding $5 billion at the time of purchase, including multinational companies.
The fund employs a 'buy-and-hold' investment strategy, which generally has resulted in an annual portfolio turnover of below 15%.
Morningstar Rating™ as of July 31, 2024 for the Class A class shares; other classes may have different performance characteristics. Overall rating for the Large Growth category. Fund ratings are out of 5 Stars: Overall 3 Stars (1085 funds rated); 3 Yrs. 3 Stars (1085 funds rated); 5 Yrs. 3 Stars (1015 funds rated); 10 Yrs. 2 Stars (792 funds rated).
Portfolio Managers
-
Alan R. Christensen, CFA
Portfolio Manager,
Managing Fund Since 2020
Joined Firm in 2005
Joined Industry in 1995
-
Catherine Crain, CFA
Portfolio Manager,
Managing Fund Since 2000
Joined Firm in 1993
Joined Industry in 1989
-
Gentry Lee, CFA
Chief Executive Officer and Chief Investment Officer,
Managing Fund Since 2010
Joined Firm in 1998
Joined Industry in 1994
-
Christopher Sarofim
Portfolio Manager,
Managing Fund Since 1997
Joined Firm in 1988
Joined Industry in 1986
-
Charles E. Sheedy, CFA
Portfolio Manager,
Managing Fund Since 2000
Joined Firm in 1971
Joined Industry in 1971
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 Tax Managed Growth Fund
DTMGX |
2.09 | 5.23 | 9.38 | 3.38 | 12.16 | 10.50 | 7.24 |
S&P 500® Index
|
10.05 | 16.70 | 22.15 | 9.60 | 15.00 | 13.15 | - |
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 Tax Managed Growth Fund
DTMGX |
-1.77 | 4.62 | 11.18 | 4.43 | 12.56 | 10.17 | 7.24 |
S&P 500® Index
|
4.28 | 15.29 | 24.56 | 10.01 | 15.05 | 12.86 | - |
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 S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. 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.
Growth of $10,000 Investment
Past performance is no guarantee of future results.
Historical Performance
Yearly Total Return
Yearly
Prospectus Fee Table Expense Ratios
As of 03/01/24 Fee Description | Expense Ratio (%) |
---|---|
Management Fee | 0.95% |
12B-1 Fee | 0.25% |
Other Expenses | 0.01% |
Total Expenses | 1.21% |
Expenses Reimbursed | 0.11% |
Net Expenses | 1.10% |
The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has agreed in its investment management agreement with the fund to: (1) pay all of the fund's direct expenses, except management fees, Rule 12b-1 fees and certain other expenses, including the fees and expenses of the non-interested board members and their counsel, and (2) reduce its fees pursuant to the investment management agreement in an amount equal to the fund's allocable portion of the fees and expenses of the non-interested board members and their counsel (in the amount of .01% for the past fiscal year). These provisions in the investment management agreement may not be amended without the approval of the fund's shareholders. In addition, BNY Mellon Investment Adviser, Inc. has contractually agreed to waive a portion of the fund's management fee in the amount of .10% 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.
Sales Charge
Portfolio Manager/Sub-Investment Adviser
Asset Allocation
Daily Statistics
As of 08/30/24 Name | NAV | Change |
07/16/24 12 Month High Nav |
10/27/23 12 Month Low Nav |
YTD Return |
---|---|---|---|---|---|
DTMGX
|
$42.65 |
$0.39
0.92%
|
$42.72 | $35.16 | 14.34% |
Performance Metrics
Overall Morningstar Rating
MORNINGSTAR CATEGORY Large Growth
Morningstar Rating™ as of 07/31/24 for the Class A shares; other classes may have different performance
characteristics. Overall rating for the Large Growth. Fund ratings are out of 5 Stars: Overall
3 Stars (1085 funds rated); 3 Yrs.
3 Stars (1085 funds rated); 5 Yrs.
3 Stars (1015 funds rated); 10 Yrs.
2 Stars (792 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
611 out of 692 -
3 Year
571 out of 630 -
5 Year
354 out of 577 -
10 Year
350 out of 449
LIPPER CLASSIFICATION Large-Cap Core Funds
Main Risks
Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currencyexchange 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.
Risk Metrics
As of 07/31/24 3-Year Trailing | Standard Deviation | Alpha | Beta | R-Squared | Sharpe Ratio |
---|---|---|---|---|---|
DTMGX
|
17.77 | -3.70 | 0.97 | 95.43 | 0.19 |
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 S&P 500® 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
Year | Dividend ($) | Capital Gains ($) |
---|---|---|
2024 | 0.0407 | 0.0000 |
2023 | 0.1463 | 2.5280 |
2022 | 0.0823 | 2.5420 |
2021 | 0.0489 | 1.7165 |
2020 | 0.1270 | 2.2815 |
2019 | 0.2414 | 1.3434 |
2018 | 0.2957 | 2.7081 |
2017 | 0.2285 | 1.3528 |
2016 | 0.2562 | 0.0118 |
2015 | 0.2979 | 1.3170 |
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 |
---|---|---|---|---|---|---|---|---|
08/01/24 | 08/02/24 | 08/02/24 | - | 0.0108 | - | 0.0000 | 0.0000 | 0.0108 |
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 |
---|---|---|---|---|---|---|---|---|
05/01/24 | 05/02/24 | 05/02/24 | - | 0.0299 | - | 0.0000 | 0.0000 | 0.0299 |
12/06/23 | 12/07/23 | 12/07/23 | 0.0000 | 0.0401 | 0.0000 | 0.0000 | 2.5280 | 2.5681 |
11/01/23 | 11/02/23 | 11/02/23 | - | 0.0273 | - | 0.0000 | 0.0000 | 0.0273 |
08/01/23 | 08/02/23 | 08/02/23 | - | 0.0359 | - | 0.0000 | 0.0000 | 0.0359 |
05/01/23 | 05/02/23 | 05/02/23 | - | 0.0430 | - | 0.0000 | 0.0000 | 0.0430 |
12/06/22 | 12/07/22 | 12/07/22 | 0.0000 | 0.0368 | 0.0000 | 0.0000 | 2.5420 | 2.5788 |
11/01/22 | 11/02/22 | 11/02/22 | - | 0.0252 | - | 0.0000 | 0.0000 | 0.0252 |
08/01/22 | 08/02/22 | 08/02/22 | - | 0.0203 | - | 0.0000 | 0.0000 | 0.0203 |
12/06/21 | 12/07/21 | 12/07/21 | 0.0000 | 0.0000 | 0.0000 | 0.0000 | 1.7165 | 1.7165 |
08/02/21 | 08/03/21 | 08/03/21 | - | 0.0018 | - | 0.0000 | 0.0000 | 0.0018 |
05/03/21 | 05/04/21 | 05/04/21 | - | 0.0471 | - | 0.0000 | 0.0000 | 0.0471 |
12/04/20 | 12/07/20 | 12/07/20 | 0.0000 | 0.0061 | 0.0000 | 0.0018 | 2.2797 | 2.2876 |
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Literature
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