Continue to site >
Trending ETFs

Name

As of 01/27/2023

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

$14.65

$101 M

2.10%

$0.31

0.92%

Vitals

YTD Return

2.1%

1 yr return

-8.9%

3 Yr Avg Return

-4.0%

5 Yr Avg Return

-1.7%

Net Assets

$101 M

Holdings in Top 10

26.6%

52 WEEK LOW AND HIGH

$14.7
$13.79
$16.05

Expenses

OPERATING FEES

Expense Ratio 0.92%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 4.78%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 01/27/2023

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

$14.65

$101 M

2.10%

$0.31

0.92%

PTPAX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return -4.0%
  • 5 Yr Annualized Total Return -1.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.24%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BNY Mellon Pennsylvania Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    Jul 30, 1987
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Daniel Rabasco

Fund Description

To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal and Pennsylvania state personal income taxes. Municipal bonds are debt securities or other obligations issued by states, territories and possessions of the United States and the District of Columbia and their political subdivisions, agencies and instrumentalities, or multistate agencies and authorities, and certain other specified securities.

The fund invests at least 70% of its net assets in municipal bonds rated, at the time of purchase, investment grade (i.e., Baa/BBB or higher) or the unrated equivalent as determined by the fund's sub-adviser. For additional yield, the fund may invest up to 30% of its net assets in municipal bonds rated below investment grade ("high yield" or "junk" bonds) or the unrated equivalent as determined by the fund's sub-adviser. The dollar-weighted average maturity of the fund's portfolio normally exceeds ten years, but the fund may invest without regard to maturity. A bond's maturity is the length of time until the principal must be fully repaid with interest. Dollar-weighted average maturity is an average of the stated maturities of the bonds held by the fund, based on their dollar-weighted proportions in the fund.

The fund's portfolio managers focus on identifying undervalued sectors and securities. To select municipal bonds for the fund, the portfolio managers use fundamental credit analysis to estimate the relative value and attractiveness of various sectors and securities and actively trade among various sectors and securities based on their apparent relative values. The fund seeks to invest in several different sectors, and does not seek to overweight any particular sector but may do so depending on each sector's relative value at a given time.

A rigorous sell discipline is employed to continuously evaluate all fund holdings. Current holdings may become sell candidates if creditworthiness is deteriorating, if bonds with better risk and return characteristics become available, or if the holding no longer meets the portfolio managers' strategic or structural objectives.

Although the fund seeks to provide income exempt from federal and Pennsylvania state income taxes, income from some of the fund's holdings may be subject to the federal alternative minimum tax.

Read More

PTPAX - Performance

Return Ranking - Trailing

Period PTPAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -86.8% 7.5% 51.77%
1 Yr -8.9% -21.8% 15.7% 83.29%
3 Yr -4.0%* -10.3% 52.1% 90.29%
5 Yr -1.7%* -4.8% 29.9% 90.57%
10 Yr -1.4%* -3.2% 13.6% 81.57%

* Annualized

Return Ranking - Calendar

Period PTPAX Return Category Return Low Category Return High Rank in Category (%)
2023 -12.6% -91.1% 101.7% 68.68%
2022 -0.3% -79.2% 102.5% 56.16%
2021 0.4% -66.1% 60.0% 57.87%
2020 0.9% -57.4% 7.6% 49.92%
2019 -0.6% -35.9% 3.2% 71.40%

Total Return Ranking - Trailing

Period PTPAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -86.8% 7.5% 51.88%
1 Yr -8.9% -21.8% 15.4% 83.38%
3 Yr -4.0%* -10.3% 52.1% 90.55%
5 Yr -1.7%* -4.8% 29.9% 91.37%
10 Yr -1.4%* -3.2% 13.6% 83.35%

* Annualized

Total Return Ranking - Calendar

Period PTPAX Return Category Return Low Category Return High Rank in Category (%)
2023 -12.6% -91.1% 101.7% 68.46%
2022 -0.3% -79.2% 102.5% 56.13%
2021 0.4% -66.1% 60.0% 57.84%
2020 0.9% -57.4% 7.6% 51.02%
2019 -0.6% -35.9% 3.2% 72.32%

NAV & Total Return History


PTPAX - Holdings

Concentration Analysis

PTPAX Category Low Category High PTPAX % Rank
Net Assets 101 M 2.87 M 73.9 B 84.58%
Number of Holdings 82 1 14000 70.52%
Net Assets in Top 10 26.7 M -317 M 8.64 B 59.59%
Weighting of Top 10 26.60% 2.4% 100.0% 35.78%

Top 10 Holdings

  1. MONTGOMERY CNTY PA INDL DEV AUTH RETIREMENT CMNTY REV 5% 3.42%
  2. PENNSYLVANIA ST TPK COMMN OIL FRANCHISE TAX REV 5% 3.41%
  3. PHILADELPHIA PA AUTH FOR INDL DEV HOSP REV 5% 3.14%
  4. ALLEGHENY CNTY PA ARPT AUTH ARPT REV 5% 2.94%
  5. PENNSYLVANIA ST TPK COMMN OIL FRANCHISE TAX REV 5% 2.81%
  6. PENNSYLVANIA ST TPK COMMN TPK REV 5% 2.71%
  7. DAUPHIN CNTY PA GEN AUTH HEALTH SYS REV 5% 2.62%
  8. GEISINGER AUTH PA HEALTH SYS REV 5% 2.59%
  9. ALLEGHENY CNTY PA HOSP DEV AUTH REV 5% 2.18%
  10. CANONSBURG-HOUSTON PA JT AUTH SWR REV 5% 2.12%

Asset Allocation

Weighting Return Low Return High PTPAX % Rank
Bonds
100.00% 0.00% 150.86% 21.39%
Stocks
0.00% -0.03% 4.63% 94.34%
Preferred Stocks
0.00% -1.79% 0.04% 93.92%
Other
0.00% -13.03% 30.01% 93.70%
Convertible Bonds
0.00% 0.00% 0.93% 94.20%
Cash
0.00% -50.86% 100.00% 88.98%

Bond Sector Breakdown

Weighting Return Low Return High PTPAX % Rank
Municipal
100.00% 0.00% 100.00% 29.48%
Derivative
0.00% 0.00% 21.68% 94.20%
Cash & Equivalents
0.00% 0.00% 100.00% 99.27%
Securitized
0.00% 0.00% 5.93% 94.56%
Corporate
0.00% 0.00% 9.99% 94.74%
Government
0.00% 0.00% 52.02% 94.42%

Bond Geographic Breakdown

Weighting Return Low Return High PTPAX % Rank
US
98.95% 0.00% 142.23% 36.96%
Non US
1.05% 0.00% 62.14% 42.27%

PTPAX - Expenses

Operational Fees

PTPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.92% 0.02% 3.60% 20.79%
Management Fee 0.55% 0.00% 1.10% 94.26%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

PTPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.00% 4.90% 23.50%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

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

PTPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 4.78% 0.00% 283.00% 3.76%

PTPAX - Distributions

Dividend Yield Analysis

PTPAX Category Low Category High PTPAX % Rank
Dividend Yield 2.10% 0.00% 35.27% 39.06%

Dividend Distribution Analysis

PTPAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PTPAX Category Low Category High PTPAX % Rank
Net Income Ratio 2.24% -0.53% 24.00% 33.91%

Capital Gain Distribution Analysis

PTPAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Semi-Annually Semi-Annually

Distributions History

View More +

PTPAX - Fund Manager Analysis

Managers

Daniel Rabasco


Start Date

Tenure

Tenure Rank

Feb 10, 2012

10.31

10.3%

Dan is the head of municipal bonds at Mellon Investments Corp, overseeing and guiding the investment management process for the firm’s tax-exempt strategies. Previously, he was the head of trading for tax-exempt bonds, responsible for managing the municipal bond trading desk. Before joining the firm, Dan directed the municipal bond group at Fleet where he was responsible for managing mutual fund, common trust fund and high net worth client assets. Previously, he was a portfolio manager at Evergreen Investments, where he managed national and state-specific mutual funds. His other responsibilities included hospital and high yield credit analysis. Dan began his career as a municipal analyst at Liberty Insurance Company. Dan has been in the investment industry since 1987. Dan holds a BA from Boston College and an MBA from Suffolk University. Dan has served as a member of the Municipal Securities Rulemaking Board's Investor Advisory Group (2004-2008). He holds the CFA® designation and is a member of the CFA Institute.

Thomas Casey


Start Date

Tenure

Tenure Rank

Oct 29, 2014

7.59

7.6%

Thomas C. Casey Director, Senior Portfolio Manager Tom is a senior portfolio manager for US Municipal Bond strategies. He is responsible for managing US Municipal Bond portfolios for institutional, insurance and high net worth clients. Previously, Tom worked as a trader and a portfolio analyst on the US Municipal team. Prior to joining the firm in 1993, Tom worked as an analyst at State Street Bank & Trust Company. Tom has been in the investment industry since 1988. Tom earned an MBA and a BA from Boston College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.22 1.58