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Dreyfus Institutional Preferred Treasury Obligations Fund

Fund Objective / Approach

The fund seeks as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity.

The fund pursues its investment objective by investing only in U.S. Treasury securities, repurchase agreements collateralized solely by U.S. Treasury securities, and cash. The fund seeks to invest in securities that present minimal credit risk, based on BNY Mellon Investment Adviser's assessment of the issuer's or guarantor's credit quality and capacity to meet its financial obligations, which may include environmental, social and governance (ESG) factors as appropriate and applicable, among other factors. The fund is a government money market fund managed to meet the requirements of Rule 2A-7 under the Investment Company Act of 1940.
Total Fund Assets
$1,247,050,523  As of  06/21/24
Share Class Assets
$332,921,581  As of  06/21/24
Inception Date
04/01/97
Fiscal Year End
Apr 30
Trade Deadline
5 PM ET
WAM
27 Days  As of  06/21/24
WAL
55 Days  As of  06/21/24
Holdings
44 As of  05/31/24
Min Investment
$100,000,000
Dividend Factor
0.000429004 As of  06/21/24
Fund Share Price
$1.00
MARKET VALUE NAV
$1.0006 As of 06/21/24
Class Status
Open
Fiscal Year End
Apr 30

Yields and Expense Ratio

1-DAY YIELD
as of 06/21/24
7-DAY YIELD
as of 06/21/24
30-DAY YIELD
as of 06/21/24
PROSPECTUS FEE TABLE EXPENSE RATIO (%)
as of 09/01/23
Subsidized Unsubsidized Subsidized Unsubsidized Subsidized Unsubsidized Net Gross Contractual
Fee Waiver
End Date
5.22 5.22 5.22 5.22 5.22 5.22 0.15 0.16 -

The investment adviser may contractually agree to waive or reimburse certain fees and expenses until a specified date. The investment adviser may also voluntarily waive certain fees and expenses, and such voluntary waivers may be discontinued or modified at any time without notice. Voluntary waiver and caps may not be included in the prospectus net expense ratio. The yields and total returns shown reflects any waivers or reimbursements that were in effect for all or a portion of the periods shown. When waivers or reimbursements are in place, the Fund's operating expenses are reduced and the Fund's yield and total returns to the shareholder are increased. Without such waivers, returns would have been lower. The yields and total returns represent past performance.

Past performance does not guarantee future results. Current performance may be lower or higher than the performance quoted above.

Leading Agency Rating and Other Designations

  • AAAm
    S&P
  • Aaa-mf
    Moody's
  • AAAmmf
    Fitch, Inc
  • DOFFC Approved
    NAIC
Fund ratings are statements of opinion, not statements of fact or recommendations to buy, sell or hold the shares of a fund. All funds are formally assessed on an annual basis with each of the Dreyfus money market fund ratings affirmed in 2024. However, the funds are subject to ongoing surveillance and the rating agencies may revise the fund rating or outlook at any time.  Standard & Poor's (S&P) believes that, with a Principal Stability Rating of AAAm, the fund has an extremely strong capacity to maintain principal and stability and to limit exposure to principal losses due to credit, market, and/or liquidity risks.  For more information on rating methodology visit www.standardandpoors.com.  Moody's Investors Service rates money market mutual funds 'Aaa-mf' if, in Moody's opinion, a fund has a very strong ability to meet the dual objectives of providing liquidity and preserving capital. This rating, which is derived from a combination of Moody's assessment of a fund's Portfolio Credit Profile, Portfolio Stability Profile, and other qualitative factors, is not intended to consider prospective performance of a fund. For more information on rating methodology visit www.moodys.com.  Fitch's Money Market Fund Rating of AAAmmf denotes Fitch's opinion that the fund has an extremely strong capacity to achieve its investment management objective of preserving principal and providing shareholder liquidity through limiting credit, market, and liquidity risk. Fitch's rating does not opine on any quality other than the fund's ability to maintain a stable net asset value. For more information on rating methodology visit www.fitchratings.com.   National Association of Insurance Commissioners approved mutual fund list; U.S. Direct Obligations/Full Faith and Credit Exempt list (DOFFC) are exempt from NAIC reserve requirements. NAIC listing is not a principal stability rating. Subject to annual review. For more information on rating methodology visit www.naic.org. NAIC designations are suitable for NAIC member's use in determining if a fund has met certain eligibility requirements for NAIC listing.

Portfolio Daily Net Inflow or Outflow

As of  06/20/24
  Start Date End Date  
$25,060,347 

Portfolio Daily/Weekly Liquid Assets

As of  06/21/24
Daily Weekly Start Date End Date  
99.18% 99.18%

As of 05/31/24  Fund 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Institutional Preferred Treasury Obligations Fund
DHLXX
5.34% 2.93% 2.03% 1.37% 2.02% 04/01/97
As of  03/31/24  Fund 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Institutional Preferred Treasury Obligations Fund
DHLXX
5.28% 2.64% 1.93% 1.28% 2.00% 04/01/97
05/31/24  Fund 1 MO 3 MO 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Institutional Preferred Treasury Obligations Fund
DHLXX
0.44% 1.32% 5.34% 9.06% 10.58% 14.54% 72.25% 04/01/97
As of  03/31/24  Fund 1 MO 3 MO 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Institutional Preferred Treasury Obligations Fund
DHLXX
0.44% 1.31% 5.28% 8.12% 10.03% 13.55% 70.76% 04/01/97

YTD Returns

As of  06/21/24 As of  05/31/24 As of  03/31/24
2.53% 2.19% 1.31%

The investment adviser may contractually agree to waive or reimburse certain fees and expenses until a specified date. The investment adviser may also voluntarily waive certain fees and expenses, and such voluntary waivers may be discontinued or modified at any time without notice. Voluntary waiver and caps may not be included in the prospectus net expense ratio. The yields and total returns shown reflects any waivers or reimbursements that were in effect for all or a portion of the periods shown. When waivers or reimbursements are in place, the Fund's operating expenses are reduced and the Fund's yield and total returns to the shareholder are increased. Without such waivers, returns would have been lower. The yields and total returns represent past performance.

Past performance does not guarantee future results. Current performance may be lower or higher than the performance quoted above.

Fund 05/24 04/24 03/24 02/24 01/24 12/23 11/23 10/23 09/23 08/23 07/23 06/23
DHLXX
5.21%  5.20%  5.22%  5.23%  5.25%  5.26%  5.26%  5.25%  5.24%  5.24%  5.06%  5.02% 

Investment return fluctuates and past performance is no guarantee of future results. As a measure of current income, 7-day yield most closely reflects the fund's current income generating ability.

Fund 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
DHLXX
5.05%  1.57%  0.01%  0.31%  2.03%  1.70%  0.73%  0.19%  0.00%  0.00% 

Investment return fluctuates and past performance is no guarantee of future results.


Asset Allocation

As of  05/31/24

      Maturity Distribution

      As of  05/31/24

      Portfolio composition is subject to change at any time. Data reflects days until final maturity for individual portfolio securities.

      Holdings Report

      Fund Name Total Holdings  As of Historical Daily Holdings
      Dreyfus Institutional Preferred Treasury Obligations Fund
      06/21/24

      See All Money Market Fund Holdings

      Portfolio composition is subject to change at any time.  The holdings listed should not be considered recommendations to buy or sell a security.

      Link to each fund's Form N-MFP on the Securities and Exchange Commission website.


      Monthly Expense Ratios (Annualized)

      As of  05/31/24 FEE DESCRIPTION EXPENSE RATIO (%)
      Management Fee 0.10%
      Service Fee 0.05%
      Other Expenses 0.00%
      Total Expenses 0.15%
      Net Expenses 0.15%

      Monthly Expense Ratios reflect any voluntary expense limitations that may be terminated at any time without notice by BNY Mellon Investment Adviser, Inc. as well as any contractual expense limitations reflected in the prospectus fee table. Voluntary expense limitations are not contractual and may fluctuate daily. Total Expenses is the total annual operating expense ratio for the fund before any applicable fee waivers or expense reimbursements. If applicable, Net Expenses is the total annual operating expense ratio for the fund after any applicable fee waivers or expense reimbursements.
      This data is annualized. Monthly operating expenses may vary month to month.

      Prospectus Fee Table Expense Ratios

      As of  09/01/23  Fee Description Expense Ratio (%)
      Management Fee 0.10%
      Service Fee 0.05%
      Other Expenses 0.01%
      Total Expenses 0.16%
      Expenses Reimbursed 0.01%
      Net Expenses 0.15%

      Total Expenses is the total annual operating expense ratio for the fund before any contractual fee waivers or expense reimbursements as reflected in the prospectus fee table. If applicable, Net Expenses is the total annual operating expense ratio for the fund after any contractual fee waivers or expense reimbursements as reflected in the prospectus fee table.

      The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has agreed in its management agreement with the fund to: (1) pay all of the fund's direct expenses, except management fees, fees pursuant to any service plan adopted by the fund and certain other expenses, including the fees and expenses of the independent board members and independent counsel to the fund and to the independent board members, and (2) reduce its fees pursuant to the management agreement in an amount equal to the fund's allocable portion of the fees and expenses of the independent board members and independent counsel to the fund and to the independent board members (in the amount of .01% for the past fiscal year). These provisions in the management agreement may not be amended without the approval of the fund's shareholders.


      Literature

      Prospectus and Reports

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      Factsheet-Hamilton Shares Download
      Prospectus-Hamilton Shares Download
      Summary Prospectus-Hamilton Shares Download
      SAI Download
      Annual Report Download
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      MARKETING MATERIALS

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      Dreyfus Institutional Preferred Money Market Funds Matrix Download
      WHERE OUR FUNDS CAN BE SOLD Download
      EFFECTIVELY MANAGING MONEY MARKET FUND ASSETS Download
      STRENGTH OF THE LION Download

      Investors should consider the investment objectives, risks, charges, and expenses of a money market fund carefully before investing. To obtain a prospectus, or summary prospectus, if available, that contains this and other information about the fund, contact your financial professional or visit dreyfus.com. Read the prospectus carefully before investing.

      Government/Treasury Money Market Funds: You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. Although the fund's board has no current intention to impose a fee upon the sale of shares, the board reserves the ability to do so after providing at least 60 days prior written notice to shareholders.

      Although the fund's board has no current intention to impose a fee upon the sale of shares or temporarily suspend redemptions if the fund's liquidity falls below certain levels, the board reserves the ability to do so after providing at least 60 days prior written notice to shareholders.

      The fund's short-term corporate and asset- backed securities holdings involve credit and liquidity risks and risk of principal loss.

      ESG evaluation risk. Where appropriate and as applicable, Dreyfus incorporates environmental, social and governance (ESG) factors into its fundamental credit research process. Dreyfus may not consider ESG ratings or other ESG data or analysis in connection with every investment decision and may determine that other attributes of an investment outweigh ESG considerations when making an investment decision. ESG factors may not be determinative with respect to a given credit analysis or investment decision. Accordingly, a fund may invest in securities of a company/issuer with a negative ESG profile, and a fund may divest or not invest in a company/issuer with a positive ESG profile. In light of the fact that ESG data often lacks standardization, consistency and transparency, such data including ESG ratings for certain issuers/companies may not be available, complete or accurate. As a result, the fund’s investments may differ from, and potentially underperform funds that incorporate ESG data from other sources or utilize other methodologies.

      As a measure of current income, 7-day yield most closely reflects the fund's current income generating ability.

      1-Day Yield: the distribution factor for the prior business day multiplied by the number of days in the year.

      1-Day Yield Unsubsidized: reflects what the 1-Day Yield would have been absent of contractual and or voluntary expense waivers.

      1-Day Yield Subsidized: reflects expense fee waivers during the period.  Without waivers, the yield would be reduced.

      7-Day Yield Unsubsidized: the Fund's previous 7 days of income dividend per share, annualized by dividing by the 7 days and multiplying by the number of days in the year, and shown as a percentage of the fund's current net asset value per share. This yield does not reflect contractual and or voluntary fee waivers.

      7-Day Yield Subsidized: the Fund's previous 7 days of income dividend per share, annualized by dividing by the 7 days and multiplying by the number of days in the year, and shown as a percentage of the fund's current net asset value per share. This yield reflects contractual and or voluntary fee waivers.  

      30-Day Unsubsidized Yield: a net yield exclusive of any fee waivers or reimbursements, is based upon dividends per share from net investment income during the past 30 days, divided by the period ended maximum offering price per share and annualized.

       30-Day Subsidized Yield: a net yield inclusive of any fee waivers or reimbursements, is based upon dividends per share from net investment income during the past 30 days, divided by the period ended maximum offering price per share and annualized. 

      WAM: A measure of the average effective maturity of all of the underlying money market instruments in the fund, weighted to reflect the relative percentage ownership of each instrument. WAM calculations allow for the maturities of certain securities with periodic interest rate resets to be shortened. Generally, for money market funds, WAM can be used primarily as a measure of relative sensitivity to interest rate changes.

      WAL: A measure of the average final maturity of all of the underlying money market instruments in the fund, weighted to reflect the relative percentage ownership of each instrument. Unlike WAM, WAL calculations do not allow maturities to be shortened for periodic interest rate resets. Accordingly, WAL will generally be higher than WAM.

      Market Value NAV: Calculated based on available market quotations (except overnight securities which are valued at amortized cost) related to the Fund's securities at the close of business on the date stated. It is calculated to the nearest hundredth of a cent or (or $0.0001).

      Daily Dividend Factor is a decimal representation of the amount of yield earned in one day.

      Accumulated Dividend Factor is the decimal representation of the daily factors added up in anticipated of a monthly dividend payout.
       

      Dreyfus provides institutional investors and intermediaries with a variety of domestic and offshore money funds and short duration separate account strategies. Dreyfus is a division of Mellon Investments Corporation (MIC), a registered investment adviser and subsidiary of The Bank of New York Mellon Corporation. Securities are offered by BNY Mellon Securities Corporation (BNYMSC), a registered broker-dealer and affiliate of MIC. Certain offshore products are not available to US investors and are distributed by BNY Mellon entities licensed in the relevant jurisdictions.

      The information provided on this site is for informational purposes only and should not be construed as investment advice or a recommendation of any particular investment product, strategy, investment manager or account arrangement, and should not serve as a primary basis for investment decisions. Prospective investors should consult a legal, tax or financial professional in order to determine whether any investment product, strategy or service is appropriate for their particular circumstances. This information may not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorized.



      MIC-514493-2024-03-15