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 February 28, 2023 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 (1130 funds rated); 3 Yrs. 4 Stars (1130 funds rated); 5 Yrs. 4 Stars (1049 funds rated); 10 Yrs. 2 Stars (801 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
-
Alan R. Christensen, CFA
Portfolio Manager,
3 yr(s). on fund
-
Catherine Crain, CFA
22 yr(s). on fund
-
Gentry Lee, CFA
12 yr(s). on fund
-
Christopher Sarofim
Portfolio Manager,
25 yr(s). on fund
-
Charles E. Sheedy, CFA
Portfolio Manager,
22 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 Tax Managed Growth Fund
DTMGX |
-8.84 | -5.08 | -12.96 | 9.36 | 8.62 | 9.32 | 6.45 |
S&P 500® Index
|
-2.28 | 3.69 | -7.69 | 12.15 | 9.82 | 12.25 | - |
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 Tax Managed Growth Fund
DTMGX |
4.89 | -23.12 | -23.12 | 6.46 | 8.61 | 9.74 | 6.46 |
S&P 500® Index
|
7.56 | -18.11 | -18.11 | 7.66 | 9.42 | 12.56 | - |
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.
Average Annual Returns After Taxes
As of 12/31/22 | 1 YR | 5 YRS | 10 YRS |
---|---|---|---|
Return after taxes on distributions | -24.44% | 6.89% | 8.41% |
Return after taxes on distributions and sale of fund shares | -12.73% | 6.59% | 7.74% |
After-tax returns are calculated using the highest historical individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown here and are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.
Return after taxes on distributions (pre-liquidation) assume an investor held shares throughout the measurement period and reflect the effect of taxable distributions (assuming reinvestment in the fund) by a fund to its shareholders.
Return after taxes on distributions and sale of fund shares (post-liquidation) assume an investor sold shares at the end of the measurement period and, therefore, reflect the effect of both taxable distributions and any taxable gain or loss realized by the shareholder upon sale of fund shares.
Growth of $10,000 Investment
Historical Performance
Yearly Total Return
Yearly
Prospectus Fee Table Expense Ratios
As of 03/01/23 Fee Description | Expense Ratio (%) |
---|---|
Management Fee | 0.95% |
12B-1 Fee | 0.25% |
Other Expenses | 0.01% |
Total Expenses | 1.21% |
Expenses Reimbursed | 0.01% |
Net Expenses | 1.20% |
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 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 pursant 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.
Sales Charge
Portfolio Manager/Sub-Investment Adviser
Asset Allocation
Daily Statistics
As of 03/30/23 Name | NAV | Change |
04/04/22 12 Month High Nav |
09/30/22 12 Month Low Nav |
YTD Return |
---|---|---|---|---|---|
DTMGX
|
$35.01 |
$0.24
0.69%
|
$41.12 | $32.32 | 4.13% |
Performance Metrics
Overall Morningstar Rating
MORNINGSTAR CATEGORY Large Growth
Morningstar Rating™ as of 02/28/23 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 (1130 funds rated); 3 Yrs.
4 Stars (1130 funds rated); 5 Yrs.
4 Stars (1049 funds rated); 10 Yrs.
2 Stars (801 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
250 out of 630 -
3 Year
265 out of 565 -
5 Year
114 out of 511 -
10 Year
363 out of 408
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.
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 |
---|---|---|---|---|---|
DTMGX
|
20.83 | -0.38 | 0.99 | 96.95 | 0.58 |
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.
Dividend Schedule
Year | Dividend ($) | Capital Gains ($) |
---|---|---|
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 |
2014 | 0.2891 | 0.6614 |
2013 | 0.3387 | 0.0000 |
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 |
---|---|---|---|---|---|---|---|---|---|
12/06/22 | 12/07/22 | 12/07/22 | 0.0000 | 0.0368 | 0.0000 | 0.0000 | 2.5420 | 2.5788 | 33.76 |
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 |
---|---|---|---|---|---|---|---|---|---|
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 | - |
11/02/20 | 11/03/20 | 11/03/20 | - | 0.0076 | - | 0.0000 | 0.0000 | 0.0076 | - |
08/03/20 | 08/04/20 | 08/04/20 | 0.0000 | 0.0450 | 0.0000 | 0.0000 | 0.0000 | 0.0450 | - |
05/01/20 | 05/04/20 | 05/04/20 | 0.0000 | 0.0683 | 0.0000 | 0.0000 | 0.0000 | 0.0683 | - |
12/06/19 | 12/09/19 | 12/09/19 | 0.0000 | 0.0682 | 0.0000 | 0.0000 | 1.3434 | 1.4116 | - |
11/01/19 | 11/04/19 | 11/04/19 | 0.0000 | 0.0413 | 0.0000 | 0.0000 | 0.0000 | 0.0413 | - |
08/01/19 | 08/02/19 | 08/02/19 | 0.0000 | 0.0700 | 0.0000 | 0.0000 | 0.0000 | 0.0700 | - |
See all rows... |
Literature
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