Dreyfus Diversified Emerging Markets C
Name
As of 05/12/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.3%
1 yr return
-7.6%
3 Yr Avg Return
3.2%
5 Yr Avg Return
-1.6%
Net Assets
$157 M
Holdings in Top 10
50.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.69%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 50.23%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$750
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/12/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DBECX - Profile
Distributions
- YTD Total Return 3.3%
- 3 Yr Annualized Total Return 3.2%
- 5 Yr Annualized Total Return -1.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.13%
- Dividend Yield 0.9%
- Dividend Distribution Frequency Semi-Annually
Fund Details
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Legal NameBNY Mellon Diversified Emerging Markets Fund
-
Fund Family NameDreyfus
-
Inception DateMar 31, 2009
-
Shares OutstandingN/A
-
Share ClassC
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CurrencyUSD
-
Domiciled CountryUnited States
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ManagerPeter Goslin
Fund Description
To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities (or other instruments with similar economic characteristics) of companies located, organized, or with a majority of assets or business in emerging market countries, including other investment companies (underlying funds) that invest in such securities. The fund considers emerging market countries to be all countries represented in the Morgan Stanley Capital International (MSCI®) Emerging Markets Index (MSCI EM Index), the fund's benchmark index.
The fund is designed to provide exposure to various portfolio managers and investment strategies that focus on investing in equity securities of emerging market issuers. The fund may use a "fund of funds" approach by investing in one or more underlying funds and/or a "manager of managers" approach by selecting one or more experienced investment managers to serve as sub-advisers to the fund. The fund normally allocates its assets among emerging market equity strategies employed by one or more underlying funds and/or sub-advisers. Underlying funds may include other funds in the BNY Mellon Family of Funds and unaffiliated open-end funds, closed-end funds and exchange-traded funds (ETFs), and sub-advisers may be affiliated or unaffiliated with BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser), the fund's investment adviser. The fund and the underlying funds also may invest in companies organized or with their principal place of business, or a majority of assets or business, in developed markets and pre-emerging markets, also known as frontier markets. The fund and the underlying funds may invest in equity securities of companies with any market capitalization. The fund and the underlying funds invest principally in common stocks.
The fund currently allocates its assets among an Active Equity Strategy and Multi-Factor Equity Strategy separately employed by Newton Investment Management North America, LLC (NIMNA), the fund's sub-adviser, and BNY Mellon Global Emerging Markets Fund (the Newton Fund), an affiliated underlying fund, which is sub-advised by Newton Investment Management Limited, as described below. The target percentages for allocating the fund's assets among the investment strategies and underlying fund, as of the date of this prospectus, were as follows:
Strategy/Underlying Fund | Target % of Fund's Total Assets |
Active Equity Strategy | 33.3% |
Multi-Factor Equity Strategy | 33.3% |
Newton Fund | 33.3% |
BNYM Investment Adviser determines the investment strategies in which to invest and sets the target allocations. BNYM Investment Adviser will allocate new inflows and outflows of fund assets to the Active Equity Strategy, the Multi-Factor Equity Strategy and the Newton Fund in accordance with the target weightings, and will rebalance the fund's portfolio at least quarterly if the amount allocated to a particular investment strategy varies from the normal targeted allocation by 10% or more because of market fluctuations. The fund may hire, terminate or replace sub-advisers and modify material terms and conditions of sub-advisory arrangements without shareholder approval. A sub-adviser will have complete discretion to invest its allocated portion of the fund's assets as it deems appropriate, based on the particular investment process, philosophy, style and strategy it employs.
As a result of the fund's overall investment program, including the allocation of the fund's assets to the different investment strategies, the fund's country, sector and industry weightings will vary at any given time from those of the MSCI EM Index.
Active Equity Strategy. The portfolio manager responsible for managing the portion of the fund's assets allocated to the Active Equity Strategy invests in a broad range of (and in any case at least five different) emerging market countries. The stocks purchased may have value and/or growth characteristics. The portfolio manage employs a bottom-up investment approach which emphasizes individual stock selection.
The Portfolio manager considers:
●Stock selection, using proprietary quantitative models and traditional qualitative analysis to identify attractive stocks with low relative price multiples and positive trends in earnings forecasts
●Country allocations, generally seeking to allocate country weightings in accordance with the MSCI EM Index, but deviations from the MSCI EM Index country weightings may occur
●Sector and industry allocations, grouping stocks into micro-universes of similar companies within each country to facilitate comparisons and using the sector allocations of the MSCI EM Index as a guide, but allocations may differ from those of the MSCI EM Index
The stock selection process is designed to produce a diversified portfolio that, relative to the MSCI EM Index, has a below-average price/earnings ratio and an above-average earnings growth trend.
Multi-Factor Equity Strategy. The portfolio manager responsible for managing the portion of the fund's assets allocated to the Multi-Factor Equity Strategy applies a systematic, quantitative investment approach designed to identify and exploit relative misvaluations in equity securities of emerging market issuers. The Multi-Factor Equity Strategy employs a proprietary valuation model that identifies and ranks stocks (Composite Alpha Ranking or CAR). The portfolio manager responsible for the Multi-Factor Equity Strategy constructs a portfolio through a systematic structured approach, focusing on stock selection as opposed to making proactive decisions as to industry or sector exposure. Within each sector and style subset, the portfolio manager responsible for the Multi-Factor Equity Strategy overweights the most attractive stocks and underweights or zero weights the stocks that have been ranked least attractive.
Newton Fund. This underlying fund normally invests in common stocks and other equity securities (or derivative or other strategic instruments with similar economic characteristics) of companies organized or with their principal place of business, or majority of assets or business, in emerging market countries. The Newton Fund also may invest in equity securities of companies in developed and frontier markets. The Newton Fund's sub-adviser, employs a fundamental bottom-up investment process that emphasizes quality, return on capital employed and governance. The process of identifying investment ideas begins by identifying a core list of investment themes. These themes are based primarily on observable global economic, industrial, or social trends that the Newton Fund's sub-adviser believes will positively affect certain sectors or industries and cause stocks within these sectors or industries to outperform others. The Newton Fund's sub-adviser then identifies specific companies using these investment themes to help it focus on areas where thematic and strategic research indicates positive returns are likely to be achieved.
DBECX - Performance
Return Ranking - Trailing
Period | DBECX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.3% | -32.7% | 17.4% | 52.84% |
1 Yr | -7.6% | -50.4% | 14.4% | 80.00% |
3 Yr | 3.2%* | -16.6% | 69.4% | 23.98% |
5 Yr | -1.6%* | -13.2% | 32.4% | 25.19% |
10 Yr | 0.4%* | -12.4% | 11.5% | 33.77% |
* Annualized
Return Ranking - Calendar
Period | DBECX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -25.9% | -50.1% | 15.9% | 65.33% |
2022 | -0.2% | -26.9% | 16.3% | 26.66% |
2021 | 7.3% | -7.2% | 79.7% | 30.07% |
2020 | 4.2% | -14.2% | 9.4% | 55.99% |
2019 | -4.4% | -11.5% | 24.0% | 69.66% |
Total Return Ranking - Trailing
Period | DBECX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.3% | -50.8% | 17.4% | 52.84% |
1 Yr | -7.6% | -50.4% | 30.2% | 80.20% |
3 Yr | 3.2%* | -16.6% | 69.4% | 24.16% |
5 Yr | -1.6%* | -13.2% | 32.4% | 27.52% |
10 Yr | 0.5%* | -12.4% | 11.5% | 41.16% |
* Annualized
Total Return Ranking - Calendar
Period | DBECX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -25.9% | -50.1% | 15.9% | 65.33% |
2022 | -0.2% | -18.2% | 16.3% | 26.66% |
2021 | 7.3% | -7.2% | 79.7% | 30.07% |
2020 | 4.2% | -14.2% | 10.3% | 56.28% |
2019 | -4.4% | -9.7% | 24.0% | 74.77% |
NAV & Total Return History
DBECX - Holdings
Concentration Analysis
DBECX | Category Low | Category High | DBECX % Rank | |
---|---|---|---|---|
Net Assets | 157 M | 717 K | 102 B | 64.64% |
Number of Holdings | 204 | 7 | 6734 | 27.77% |
Net Assets in Top 10 | 81 M | 3.7 K | 19.3 B | 59.00% |
Weighting of Top 10 | 50.19% | 2.8% | 71.7% | 6.60% |
Top 10 Holdings
- BNY Mellon Global Emerging Markets - Y 32.10%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
- Tencent Holdings Ltd 6.39%
Asset Allocation
Weighting | Return Low | Return High | DBECX % Rank | |
---|---|---|---|---|
Stocks | 99.01% | 0.90% | 110.97% | 26.90% |
Cash | 0.99% | -23.67% | 20.19% | 68.18% |
Preferred Stocks | 0.00% | 0.00% | 2.67% | 25.51% |
Other | 0.00% | -1.48% | 9.95% | 19.31% |
Convertible Bonds | 0.00% | 0.00% | 7.40% | 7.99% |
Bonds | 0.00% | -0.03% | 55.68% | 20.71% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DBECX % Rank | |
---|---|---|---|---|
Technology | 24.14% | 0.00% | 47.50% | 38.44% |
Financial Services | 19.15% | 0.00% | 48.86% | 66.35% |
Consumer Cyclical | 12.64% | 0.00% | 48.94% | 43.71% |
Communication Services | 10.58% | 0.00% | 46.62% | 29.70% |
Industrials | 7.42% | 0.00% | 43.53% | 31.98% |
Basic Materials | 7.20% | 0.00% | 30.03% | 61.20% |
Consumer Defense | 7.01% | 0.00% | 28.13% | 34.97% |
Healthcare | 5.11% | 0.00% | 93.26% | 32.22% |
Energy | 4.10% | 0.00% | 26.66% | 51.02% |
Utilities | 2.18% | 0.00% | 39.12% | 34.37% |
Real Estate | 0.47% | 0.00% | 17.15% | 74.25% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DBECX % Rank | |
---|---|---|---|---|
Non US | 97.31% | -4.71% | 112.57% | 35.28% |
US | 1.70% | -1.60% | 104.72% | 30.15% |
DBECX - Expenses
Operational Fees
DBECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.69% | 0.01% | 2.69% | 0.12% |
Management Fee | 0.71% | 0.00% | 2.00% | 24.85% |
12b-1 Fee | 0.75% | 0.00% | 1.00% | 73.50% |
Administrative Fee | 0.10% | 0.01% | 0.85% | 48.83% |
Sales Fees
DBECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | 1.00% | 1.00% | 5.00% | 12.50% |
Trading Fees
DBECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.40% | 2.00% | 3.06% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DBECX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 50.23% | 0.00% | 190.00% | 53.72% |
DBECX - Distributions
Dividend Yield Analysis
DBECX | Category Low | Category High | DBECX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.92% | 0.00% | 13.22% | 60.74% |
Dividend Distribution Analysis
DBECX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Semi-Annually | Annually | Quarterly | Annually |
Net Income Ratio Analysis
DBECX | Category Low | Category High | DBECX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.13% | -1.98% | 17.62% | 79.65% |
Capital Gain Distribution Analysis
DBECX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 29, 2021 | $0.024 | OrdinaryDividend |
Dec 27, 2019 | $0.196 | OrdinaryDividend |
Dec 14, 2011 | $0.025 | OrdinaryDividend |
Dec 15, 2009 | $0.300 | OrdinaryDividend |
DBECX - Fund Manager Analysis
Managers
Peter Goslin
Start Date
Tenure
Tenure Rank
Jan 31, 2014
8.33
8.3%
Peter is a member of Newton’s equity income team. Peter oversees multi-factor equity portfolio management and is responsible for the portfolio management and implementation of systematic equity investment strategies. Peter collaborates with quantitative and fundamental equity researchers to evolve the systematic investment processes and set the research agenda. Peter joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Peter was a senior portfolio manager and trader at Mellon Investments Corporation, Mellon Capital and Mellon Equity Associates (all BNY Mellon group companies). Prior to joining BNY Mellon, Peter worked as a proprietary derivatives trader and NASDAQ market maker for Merrill Lynch in New York. Previously, he ran Merrill’s equity index option desk at the Chicago Mercantile Exchange. Peter has a BS in Finance and Computer Science from St. Vincent College and an MBA in Finance from the University of Notre Dame. He received his CFA designation in 2000 and is a member of the CFA Institute and the CFA Society Pittsburgh.
Julianne McHugh
Start Date
Tenure
Tenure Rank
Nov 02, 2015
6.58
6.6%
Julianne is a senior portfolio manager and Newton’s head of sustainable equities. As an experienced investor, she has been integral in identifying resources to support and enhance the integration of sustainability considerations into the firm’s investment practices. Julianne manages a selection of global and regional equity mandates. She is the lead portfolio manager for the BNY Mellon Large Cap Securities Fund, leveraging the global research team to deliver capital growth by investing in high quality US companies with strong positions in their industries. Julianne has led the Emerging Markets Research Fund since its inception in February 2014. She also serves as a portfolio manager for Newton’s Global Research Equity and Global First Decade Innovators strategies. Julianne joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Julianne was a senior portfolio manager and senior research analyst at Mellon Investments Corporation and The Boston Company Asset Management (both BNY Mellon group companies). Prior to joining BNY Mellon, Julianne was an equity analyst at State Street Research & Management. Julianne has a BS in Finance from Lehigh University and an MBA with a Financial Management track from MIT Sloan School of Management.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 33.71 | 6.43 | 13.42 |