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Trending ETFs

Name

As of 03/27/2024

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

$14.66

$94.4 M

4.55%

$0.66

1.81%

Vitals

YTD Return

8.4%

1 yr return

10.3%

3 Yr Avg Return

3.9%

5 Yr Avg Return

4.1%

Net Assets

$94.4 M

Holdings in Top 10

195.1%

52 WEEK LOW AND HIGH

$14.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.81%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 82.12%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$750


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$14.66

$94.4 M

4.55%

$0.66

1.81%

AVGAX - Profile

Distributions

  • YTD Total Return 8.4%
  • 3 Yr Annualized Total Return 3.9%
  • 5 Yr Annualized Total Return 4.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.12%
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    BNY Mellon Dynamic Total Return Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    May 02, 2006
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Vassilis Dagioglu

Fund Description

To pursue its goal, the fund normally invests in instruments that provide investment exposure to global equity, bond, currency and commodity markets, and in fixed-income securities. The fund may invest in instruments that provide economic exposure to developed and, to a limited extent, emerging market issuers. The fund may invest up to 30% of its net assets in emerging market issuers and considers emerging market countries to be those included in the Morgan Stanley Capital International Emerging Markets Index. The fund will seek to achieve investment exposure to global equity, bond, currency and commodity markets primarily through long and short positions in futures, options, forward contracts, swap agreements or exchange-traded funds (ETFs), and normally will use economic leverage as part of its investment strategy. The fund also may invest in fixed-income securities, such as bonds, notes (including structured notes) and money market instruments, and including foreign government obligations and securities of supranational entities, to provide exposure to bond markets and for liquidity and income, as well as hold cash. The fund may invest in bonds and other fixed-income securities of any maturity or duration. A bond's maturity is the length of time until the principal must be fully repaid with interest. Average effective portfolio maturity is an average of the maturities of bonds held by the fund directly and the bonds underlying derivative instruments entered into by the fund, if any, adjusted to reflect provisions or market conditions that may cause a bond's principal to be repaid earlier than at its stated maturity. Duration is an indication of an investment's "interest rate risk," or how sensitive a bond or the fund's portfolio may be to changes in interest rates. The fund may invest in bonds and other fixed-income securities of any credit quality (including "investment grade," "high yield" or "junk" bonds). The fund may have investment exposure to bonds and other fixed-income securities by investing directly in such securities or through ETFs and derivative instruments. The fund may invest in, or otherwise have investment exposure to, the securities of companies of any market capitalization.

The fund's sub-adviser, Newton Investment Management North America, LLC, an affiliate of BNY Mellon Investment Adviser, Inc., applies a systematic, analytical investment approach designed to identify and exploit relative misvaluation opportunities across and within global capital markets. Active investment decisions to dynamically shift between long or short positions in individual country, equity, bond, currency and commodity markets, as well as allocations to cash, are driven by this systematic investment process and seek to capitalize on opportunities within and among the capital markets of the world. The fund's sub-adviser has considerable latitude in allocating the fund's assets and in selecting derivative instruments and securities to implement the fund's investment approach, and there is no limitation or requirement as to the amount of fund assets to be invested in any one asset class.

The fund's sub-adviser updates, monitors and follows buy or sell recommendations from its proprietary investment models. The models can recommend selling a security if the relative attractiveness deteriorates or its valuation becomes excessive or risk associated with the security increases significantly. The models also may recommend selling a security if an event occurs that contradicts the models' rationale for owning it, such as deterioration in the issuer's fundamentals. In addition, the fund may sell a security if the sub-adviser determines better investment opportunities emerge elsewhere. For allocation among equity markets, the sub-adviser employs a bottom-up valuation approach using proprietary models to derive market level expected returns. For allocation among bond markets, the sub-adviser uses proprietary models to identify temporary mispricings among global bond markets. The sub-adviser evaluates currencies on a relative valuation basis and overweights exposure to currencies that are undervalued and underweights exposure to currencies that are overvalued based on real interest rates, purchasing power parity, and other proprietary measures. The sub-adviser seeks to identify opportunities in commodity markets by measuring and evaluating inventory and term structure, hedging and speculative activity as well as momentum. The investment process combines fundamental and momentum signals in a quantitative framework.

The fund will use, to a significant degree, derivative instruments as a substitute for investing directly in equities, bonds, currencies or commodities in connection with its investment strategy. The fund also may use derivative instruments as part of a hedging strategy or for other purposes related to the management of the fund. The derivative instruments in which the fund may invest typically include options, futures and options on futures (including those relating to securities, foreign currencies, indices and interest rates), forward contracts (including foreign currency forward contracts), swaps (including total return swaps), options on swaps and other derivative instruments (including commodity-linked instruments, such as structured notes).

The fund also may gain investment exposure to global commodity markets through investments in a wholly-owned and controlled subsidiary of the fund that principally invests directly in commodity-related instruments, including futures and options contracts, swap agreements and other derivatives that provide exposure to the commodity markets. The subsidiary has the same investment objective, investment adviser and sub-adviser as the fund.

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AVGAX - Performance

Return Ranking - Trailing

Period AVGAX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.4% -73.0% 19.4% 58.78%
1 Yr 10.3% -9.1% 86.9% 42.55%
3 Yr 3.9%* -9.5% 16.2% 44.58%
5 Yr 4.1%* -4.9% 14.4% 48.43%
10 Yr 3.6%* -0.9% 7.5% 14.89%

* Annualized

Return Ranking - Calendar

Period AVGAX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.0% -22.7% 305.1% 46.67%
2022 -11.9% -9.8% 27.3% 10.08%
2021 -6.3% -20.8% 10.9% 74.67%
2020 2.5% -12.4% 29.4% 68.81%
2019 11.3% -10.5% 15.8% 58.12%

Total Return Ranking - Trailing

Period AVGAX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.4% -73.0% 19.4% 58.78%
1 Yr 10.3% -13.4% 86.9% 64.00%
3 Yr 3.9%* -9.5% 16.2% 69.08%
5 Yr 4.1%* -5.3% 14.4% 66.82%
10 Yr 3.6%* -0.9% 7.5% 21.28%

* Annualized

Total Return Ranking - Calendar

Period AVGAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -22.7% 305.1% 46.67%
2022 -10.7% -9.8% 27.3% 10.08%
2021 11.2% -20.8% 10.9% 78.67%
2020 2.5% -8.4% 29.4% 19.80%
2019 14.8% -10.2% 18.0% 68.06%

NAV & Total Return History


AVGAX - Holdings

Concentration Analysis

AVGAX Category Low Category High AVGAX % Rank
Net Assets 94.4 M 1.5 M 5.01 B 36.90%
Number of Holdings 184 4 4478 42.40%
Net Assets in Top 10 204 M -398 M 2.55 B 11.31%
Weighting of Top 10 195.06% 13.1% 100.0% 9.96%

Top 10 Holdings

  1. US 10YR NOTE (CBT)DEC23 38.07%
  2. UNITED STATES TREASURY BILL 34.93%
  3. UNITED STATES TREASURY BILL 31.33%
  4. AUST 10Y BOND FUT DEC23 23.38%
  5. 10YR MINI JGB FUT DEC23 23.24%
  6. Dreyfus Institutional Preferred Government Plus Money Market Fund 11.77%
  7. NOK/USD FWD 20231220 816 8.92%
  8. NZD/USD FWD 20231220 816 8.04%
  9. UNITED STATES TREASURY BILL 7.97%
  10. MXN/USD FWD 20231220 GOLDUS33 7.40%

Asset Allocation

Weighting Return Low Return High AVGAX % Rank
Cash
98.00% -6278.21% 410.43% 33.57%
Other
2.00% -21.53% 148.54% 60.42%
Stocks
0.00% -3.75% 97.95% 72.44%
Preferred Stocks
0.00% -0.12% 46.97% 43.11%
Convertible Bonds
0.00% 0.00% 87.92% 58.66%
Bonds
0.00% -326.45% 6347.80% 27.56%

AVGAX - Expenses

Operational Fees

AVGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.81% 0.29% 31.15% 65.47%
Management Fee 1.10% 0.00% 2.50% 59.01%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

AVGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.50% 5.75% 42.31%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

AVGAX 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.

AVGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 82.12% 0.00% 491.00% 59.68%

AVGAX - Distributions

Dividend Yield Analysis

AVGAX Category Low Category High AVGAX % Rank
Dividend Yield 4.55% 0.00% 4.56% 93.29%

Dividend Distribution Analysis

AVGAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

AVGAX Category Low Category High AVGAX % Rank
Net Income Ratio -1.12% -2.51% 6.83% 71.94%

Capital Gain Distribution Analysis

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

Distributions History

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AVGAX - Fund Manager Analysis

Managers

Vassilis Dagioglu


Start Date

Tenure

Tenure Rank

May 05, 2010

12.08

12.1%

Vassilis is the head of portfolio management for multi-asset solutions. In his current role, he oversees the portfolio management team responsible for global multi-asset strategies including Dynamic Total Return, Dynamic Equity, Dynamic Growth, Active Commodities and SmartPath Target Date Funds. Vassilis and his team leverage their long experience in designing and implementing systematic multi-asset products and tailored solutions to help clients achieve a variety of investment objectives. Vassilis 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, Vassilis was the head of portfolio management for multi-asset solutions, a senior portfolio manager and portfolio manager at Mellon Investments Corporation and Mellon Capital (both BNY Mellon group companies). Prior to joining BNY Mellon, Vassilis designed and implemented financial information systems and consulted on enterprise-information application development at IBM Global Services and Sybase. Vassilis has a BS in Computer Science from the University of Athens and an MBA in Finance from the University of California at Berkeley.

Torrey Zaches


Start Date

Tenure

Tenure Rank

Jun 29, 2010

11.93

11.9%

Torrey is a member of Newton’s asset allocation portfolio management team. In his current role, Torrey is responsible for overseeing a team of portfolio managers covering multi-asset strategies, with a focus on global total return and tail-risk hedging portfolios. Torrey is responsible for the implementation of these strategies, including strategy refinements, risk management and portfolio management efficiencies. Torrey 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, Torrey was a portfolio manager and senior portfolio manager at Mellon Investments Corporation and Mellon Capitol (both BNY Mellon group companies). Prior to joining BNY Mellon, Torrey worked at Mercer Global Advisors providing global asset allocation investment solutions to small businesses and high net worth clients. Torrey has a BA in Economics from the University of California at Santa Barbara and an MBA from the University of Southern California. He received his CFA designation in 1997 and is a member of the CFA Institute.

James Stavena


Start Date

Tenure

Tenure Rank

Jun 29, 2010

11.93

11.9%

James is a member of Newton’s asset allocation portfolio management team. Since joining in 1998, James has been the lead portfolio manager for the Dynamic US Equity (DUSE) strategy. In his current role, James also manages a team of portfolio managers responsible for the implementation of global multi-asset, custom rules-based, and options-based strategies. James is a key contributor to the development, refinement and risk management of all asset allocation investment strategies and signals. Drawing from his extensive experience, he focuses on the use of derivatives in quantitative investment strategies, as well as 1940 Act and UCITS III implementations of multi-asset strategies. James 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, was a portfolio manager and senior portfolio manager at Mellon Investments Corporation and Mellon Capital (both BNY Mellon group companies). Earlier in his career, James was a currency options trader with both Credit Suisse First Boston and HSBC in New York and London, respectively. James has an MBA from Rice University.

Dimitri Curtil


Start Date

Tenure

Tenure Rank

May 12, 2020

2.05

2.1%

Dimitri is Newton’s global head of multi-asset solutions. In addition to overseeing the team of portfolio managers and researchers responsible for the firm’s systematic multi-asset strategies, Dimitri also leads the development and enhancement of the research underpinning the firm’s multi-asset strategies. Dimitri’s specific areas of research include absolute return and total return strategies as well as risk parity, alternative risk premia and tail-risk hedging solutions. Dimitri 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, Dimitri was chief investment officer and head of multi-asset strategies, head of asset allocation research, a senior research analyst and research analyst at Mellon Investments Corporation and Mellon Capital (both BNY Mellon group companies). Prior to joining BNY Mellon, he worked as a computational systems engineer at Lawrence Berkeley National Lab. Dimitri has an MS in Computer Science from Imperial College in London and an MSc in Mechanical Engineering from Zurich Federal Institute of Technology.

Tenure Analysis

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