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Trending ETFs

Name

As of 05/12/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.49

$125 M

4.08%

$0.43

1.61%

Vitals

YTD Return

0.8%

1 yr return

-22.3%

3 Yr Avg Return

-3.7%

5 Yr Avg Return

-3.6%

Net Assets

$125 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$10.5
$10.20
$13.94

Expenses

OPERATING FEES

Expense Ratio 1.61%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 24.08%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/12/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$10.49

$125 M

4.08%

$0.43

1.61%

DRNIX - Profile

Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return -3.7%
  • 5 Yr Annualized Total Return -3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.17%
DIVIDENDS
  • Dividend Yield 4.1%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    BNY Mellon Alternative Diversifier Strategies Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    Mar 31, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States

Fund Description

To pursue its goal, the fund normally allocates its assets across non-traditional or "alternative" asset classes and investment strategies. The fund is designed to complement and diversify traditional stock and bond portfolios. The fund normally allocates its assets among other investment companies (the underlying funds) that employ alternative investment strategies. 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). The fund generally will allocate its assets to other funds managed by BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser), and will allocate its assets to unaffiliated funds generally when the desired economic exposure to a particular alternative investment strategy is not available through a fund managed by BNYM Investment Adviser, the fund's investment adviser, or its affiliates or for diversification purposes.

The fund seeks to achieve its investment objective—long-term capital appreciation—by allocating its assets among asset classes and investment strategies that typically have had a low correlation to each other and to traditional equity and fixed-income asset classes. The fund uses a "fund of funds" approach by investing in underlying funds. The fund currently intends to allocate its assets among underlying funds that employ the following alternative investment strategies:

Long/short strategies generally maintain long and short positions primarily in equity securities and equity derivatives, including futures, options, swap agreements and contracts for difference. Long/short strategies can be broadly diversified or narrowly focused on specific sectors and can range broadly in terms of levels of net exposure, holding period and market capitalizations. Long/short strategies generally seek lower volatility than, and low to moderate correlation to, major equity market indices and typically will have significant short positions. Although the fund intends to maintain an overall long position in the fund's assets allocated to long/short strategies, in certain circumstances, the short positions in that portion of its assets may approach or reach the size of the fund's overall long positions in that portion of its assets. A short sale involves the sale of a security that the fund or underlying fund does not own in the expectation of purchasing the same security (or a security exchangeable therefor) at a later date and at a lower price. The fund currently may allocate up to 55% of its assets to long/short strategies.

Absolute return hedge strategies employ a wide range of investment tools in seeking to achieve positive returns with low correlation to traditional performance benchmarks even in declining market conditions. Absolute return hedge strategies have the flexibility to allocate investments among global equities and fixed-income securities and other asset classes, including alternative or non-traditional asset classes, and use derivative instruments. The fund currently may allocate up to 40% of its assets to absolute return hedge strategies.

Real estate-related strategies focus on investing in securities related to the real estate industry (including publicly-traded real estate investment trust securities (REITs) and real estate operating companies) and may be diversified across multiple sectors. Companies engaged in the real estate industry include those involved in the development, ownership, construction, management or sale of real estate. REITs are pooled investment vehicles that invest primarily in income-producing real estate or real estate-related loans or interests. The fund currently may allocate up to 40% of its assets to real estate-related strategies.

Commodities strategies seek to gain exposure to commodities markets by investing in commodity-linked derivative instruments and commodity-linked equity and fixed-income securities and commodity-related ETFs. Commodities are assets that have tangible properties, such as oil, precious metals, chemicals, and agricultural products. A commodity-linked derivative is a derivative instrument whose value is linked generally to the movement of a commodity or commodity index. This strategy may include investments in commodity-linked notes (sometimes referred to as structured notes), futures, forward, option and swap agreements, as well as equity and fixed-income securities of companies that, among other things, produce, process, convert, transport and service commodities. The fund currently may allocate up to 40% of its assets to commodities strategies.

Options strategies seek to reduce volatility, provide a steady cash flow and/or protect against significant market declines that may occur over short periods of time. Options strategies include investments in a wide variety of options contracts and option-related instruments across different asset classes, including commodities, currencies, fixed-income and equity securities and indexes. Options strategies may include writing (selling) index call options, including covered call options, and/or purchasing index put options. The fund currently may allocate up to 30% of its assets to options strategies.

The descriptions of the investment strategies above are subjective, are not complete descriptions of any investment strategy and may differ from classifications made by other investment advisers that implement similar investment strategies.

BNYM Investment Adviser determines the fund's use of alternative investment strategies and sets the investment ranges using fundamental and quantitative analysis, and its economic and financial markets outlook. Underlying funds are selected based on their investment objectives and management policies, investment strategies and portfolio holdings, risk/reward profiles, historical performance, and other factors, including the correlation and covariance among the underlying funds. BNYM Investment Adviser has the discretion to change the fund's investment strategies and the investment ranges when BNYM Investment Adviser deems it appropriate without prior notice to shareholders.

The composition of the fund's investment portfolio will vary over time, based on its use of alternative investment strategies and its exposure to the asset classes, including commodities, real estate-related assets, foreign currencies, global equity and fixed-income securities, and cash and cash equivalents, in which the underlying funds invest. The fund, principally through underlying funds, may invest in the securities of U.S. and foreign issuers, including securities of issuers in emerging market countries and securities denominated in a currency other than the U.S. dollar, securities of issuers of any market capitalization, commodities and real estate-related securities (including REITs).

The fund, principally through underlying funds, may engage in short-selling and use derivatives. Derivative instruments may be used as a substitute for investing directly in an underlying asset, as an alternative to selling a security short, to increase returns, to manage foreign currency risk, to manage credit or interest rate risk, to manage effective maturity or duration, as part of a hedging strategy, or for other purposes related to the management of the fund or underlying fund. The derivative instruments in which the fund or an underlying fund may invest include principally options, futures and options on futures (including those relating to securities, foreign currencies, indices and interest rates), contracts for difference, forward contracts, swap agreements (including total return, interest rate and credit default swap agreements), options on swap agreements, and other derivative instruments (including commodity-linked instruments, such as structured notes).

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DRNIX - Performance

Return Ranking - Trailing

Period DRNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -73.0% 19.4% 12.90%
1 Yr -22.3% -9.1% 86.9% 22.91%
3 Yr -3.7%* -9.5% 16.2% 40.56%
5 Yr -3.6%* -4.9% 14.4% 59.64%
10 Yr N/A* -0.9% 7.5% 100.00%

* Annualized

Return Ranking - Calendar

Period DRNIX Return Category Return Low Category Return High Rank in Category (%)
2023 -26.8% -22.7% 305.1% 52.59%
2022 4.7% -9.8% 27.3% 20.16%
2021 0.5% -20.8% 10.9% 67.11%
2020 2.1% -12.4% 29.4% 32.18%
2019 -1.6% -10.5% 15.8% 63.87%

Total Return Ranking - Trailing

Period DRNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -73.0% 19.4% 13.62%
1 Yr -22.3% -13.4% 86.9% 21.09%
3 Yr -3.7%* -9.5% 16.2% 37.75%
5 Yr -3.3%* -5.3% 14.4% 53.36%
10 Yr N/A* -0.9% 7.5% 100.00%

* Annualized

Total Return Ranking - Calendar

Period DRNIX Return Category Return Low Category Return High Rank in Category (%)
2023 -26.8% -22.7% 305.1% 52.59%
2022 4.7% -9.8% 27.3% 20.56%
2021 0.5% -20.8% 10.9% 68.89%
2020 2.1% -8.4% 29.4% 47.52%
2019 -1.3% -10.2% 18.0% 70.68%

NAV & Total Return History


DRNIX - Holdings

Concentration Analysis

DRNIX Category Low Category High DRNIX % Rank
Net Assets 125 M 1.5 M 5.01 B 41.70%
Number of Holdings 7 4 4478 97.17%
Net Assets in Top 10 122 M -398 M 2.55 B 21.55%
Weighting of Top 10 100.00% 13.1% 100.0% 0.46%

Top 10 Holdings

  1. BNY Mellon Global Real Return - Y 22.45%
  2. Gateway Y 18.16%
  3. Boston Partners Long/Short Rsrch Instl 16.19%
  4. Neuberger Berman Long Short Instl 15.12%
  5. BNY Mellon Global Real Estate Scs - Y 10.71%
  6. 361 Global Long/Short Equity Y 9.68%
  7. DFA Commodity Strategy Institutional 7.69%

Asset Allocation

Weighting Return Low Return High DRNIX % Rank
Stocks
69.18% -3.75% 97.95% 7.07%
Cash
17.28% -6278.21% 410.43% 60.42%
Bonds
12.39% -326.45% 6347.80% 81.27%
Convertible Bonds
0.60% 0.00% 87.92% 40.99%
Other
0.36% -21.53% 148.54% 43.82%
Preferred Stocks
0.18% -0.12% 46.97% 20.14%

Stock Sector Breakdown

Weighting Return Low Return High DRNIX % Rank
Technology
17.18% 0.00% 39.58% 66.14%
Real Estate
15.29% 0.00% 51.26% 8.27%
Financial Services
11.57% 0.00% 59.28% 70.08%
Healthcare
11.36% 0.00% 45.63% 79.92%
Consumer Cyclical
9.83% 0.00% 29.09% 35.83%
Industrials
9.27% 0.00% 21.45% 25.98%
Communication Services
6.82% 0.00% 21.78% 57.09%
Energy
6.11% 0.00% 100.00% 31.10%
Consumer Defense
5.80% 0.00% 13.62% 34.65%
Basic Materials
3.66% 0.00% 27.46% 50.39%
Utilities
3.12% 0.00% 9.23% 46.06%

Stock Geographic Breakdown

Weighting Return Low Return High DRNIX % Rank
US
54.78% -8.85% 91.88% 6.71%
Non US
14.40% -19.62% 42.11% 24.73%

Bond Sector Breakdown

Weighting Return Low Return High DRNIX % Rank
Cash & Equivalents
40.89% 0.27% 100.00% 21.55%
Derivative
28.80% 0.00% 88.81% 15.90%
Government
17.38% 0.00% 84.29% 67.14%
Corporate
12.93% 0.00% 87.73% 46.29%
Securitized
0.00% 0.00% 56.83% 48.06%
Municipal
0.00% 0.00% 27.33% 55.12%

Bond Geographic Breakdown

Weighting Return Low Return High DRNIX % Rank
US
8.41% -126.19% 6311.18% 79.86%
Non US
3.98% -382.37% 121.02% 54.42%

DRNIX - Expenses

Operational Fees

DRNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.61% 0.29% 31.15% 98.92%
Management Fee 0.25% 0.00% 2.50% 3.18%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

DRNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DRNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

DRNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.08% 0.00% 491.00% 8.87%

DRNIX - Distributions

Dividend Yield Analysis

DRNIX Category Low Category High DRNIX % Rank
Dividend Yield 4.08% 0.00% 4.56% 42.05%

Dividend Distribution Analysis

DRNIX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

DRNIX Category Low Category High DRNIX % Rank
Net Income Ratio 0.17% -2.51% 6.83% 23.38%

Capital Gain Distribution Analysis

DRNIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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DRNIX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67