Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.8%
1 yr return
4.1%
3 Yr Avg Return
-2.6%
5 Yr Avg Return
0.1%
Net Assets
$243 M
Holdings in Top 10
16.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.01%
SALES FEES
Front Load 4.50%
Deferred Load N/A
TRADING FEES
Turnover 10.03%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DHYAX - Profile
Distributions
- YTD Total Return 3.8%
- 3 Yr Annualized Total Return -2.6%
- 5 Yr Annualized Total Return 0.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.10%
- Dividend Yield 3.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameBNY Mellon High Yield Municipal Bond Fund
-
Fund Family NameDreyfus
-
Inception DateMar 15, 2007
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey Burger
Fund Description
To pursue its goals, 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 personal income tax. 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.
The fund normally invests at least 50% of its net assets in municipal bonds rated BBB/Baa or lower or the unrated equivalent as determined by Insight North America LLC, the fund's sub-adviser. Municipal bonds rated below investment grade (BB/Ba or lower) are commonly known as "high yield" or "junk" bonds. These bonds typically offer higher yields than investment grade bonds, but involve greater risks, including the possibility of default, and increased market price volatility. The fund may invest up to 10% of its assets in defaulted municipal bonds. The fund may invest up to 50% of its assets in higher quality municipal bonds (those rated AAA/Aaa to A 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 sub-adviser focuses on identifying undervalued sectors and securities. To select municipal bonds for the fund, the sub-adviser uses fundamental credit analysis to estimate the relative value and attractiveness of various sectors and securities and actively trades 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 sub-adviser's strategic or portfolio construction objectives.
Although the fund seeks to provide income exempt from federal income tax, income from some of the fund's holdings may be subject to the federal alternative minimum tax.
DHYAX - Performance
Return Ranking - Trailing
Period | DHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.8% | -4.2% | 11.0% | 72.14% |
1 Yr | 4.1% | -3.9% | 11.3% | 70.65% |
3 Yr | -2.6%* | -9.3% | 2.5% | 89.29% |
5 Yr | 0.1%* | -5.3% | 3.4% | 84.10% |
10 Yr | 2.9%* | -0.8% | 155.1% | 42.52% |
* Annualized
Return Ranking - Calendar
Period | DHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.1% | -6.2% | 7.5% | 44.55% |
2022 | -19.6% | -26.9% | -3.5% | 83.42% |
2021 | 2.9% | -1.9% | 5.6% | 27.41% |
2020 | -0.7% | -4.0% | 4.2% | 79.08% |
2019 | 6.1% | -0.7% | 9.1% | 24.21% |
Total Return Ranking - Trailing
Period | DHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.8% | -4.2% | 11.0% | 72.14% |
1 Yr | 4.1% | -3.9% | 11.3% | 70.65% |
3 Yr | -2.6%* | -9.3% | 2.5% | 89.29% |
5 Yr | 0.1%* | -5.3% | 3.4% | 84.10% |
10 Yr | 2.9%* | -0.8% | 155.1% | 42.52% |
* Annualized
Total Return Ranking - Calendar
Period | DHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.4% | -4.1% | 10.9% | 41.58% |
2022 | -16.7% | -26.9% | 4.3% | 83.42% |
2021 | 6.2% | -1.9% | 10.0% | 32.49% |
2020 | 3.0% | -2.6% | 8.2% | 62.76% |
2019 | 10.3% | -0.7% | 1028633.9% | 16.84% |
NAV & Total Return History
DHYAX - Holdings
Concentration Analysis
DHYAX | Category Low | Category High | DHYAX % Rank | |
---|---|---|---|---|
Net Assets | 243 M | 3.1 M | 15.6 B | 78.00% |
Number of Holdings | 171 | 20 | 3325 | 83.42% |
Net Assets in Top 10 | 38.9 M | -102 M | 1.96 B | 79.40% |
Weighting of Top 10 | 16.24% | 4.6% | 98.9% | 26.63% |
Top 10 Holdings
- NEW YORK CONVENTION CENTER DEVELOPMENT CORP 1.93%
- PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 1.79%
- VIRGINIA SMALL BUSINESS FINANCING AUTHORITY 1.73%
- TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES 1.72%
- METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES TOLL ROAD REVENUE 1.61%
- TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES 1.57%
- MICHIGAN TOBACCO SETTLEMENT FINANCE AUTHORITY 1.49%
- BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY 1.48%
- WASHINGTON STATE CONVENTION CENTER PUBLIC FACILITIES DISTRICT 1.47%
- TENDER OPTION BOND TRUST RECEIPTS/CERTIFICATES 1.43%
Asset Allocation
Weighting | Return Low | Return High | DHYAX % Rank | |
---|---|---|---|---|
Bonds | 105.60% | 0.00% | 146.69% | 9.41% |
Stocks | 0.00% | 0.00% | 99.72% | 43.07% |
Preferred Stocks | 0.00% | -47.61% | 0.00% | 18.09% |
Other | 0.00% | -5.67% | 5.07% | 30.65% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 11.56% |
Cash | 0.00% | -0.64% | 10.86% | 77.39% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DHYAX % Rank | |
---|---|---|---|---|
Municipal | 99.49% | 50.68% | 100.00% | 23.62% |
Derivative | 0.00% | -7.70% | 2.16% | 25.13% |
Cash & Equivalents | 0.00% | 0.00% | 10.86% | 52.26% |
Securitized | 0.00% | 0.00% | 22.44% | 17.09% |
Corporate | 0.00% | 0.00% | 2.83% | 57.29% |
Government | 0.00% | 0.00% | 0.09% | 16.08% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DHYAX % Rank | |
---|---|---|---|---|
US | 105.60% | 0.00% | 139.84% | 9.55% |
Non US | 0.00% | 0.00% | 13.35% | 20.10% |
DHYAX - Expenses
Operational Fees
DHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.01% | 0.22% | 3.44% | 45.05% |
Management Fee | 0.45% | 0.00% | 1.41% | 27.23% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.10% | 0.02% | 0.35% | 46.67% |
Sales Fees
DHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.50% | 1.00% | 4.50% | 4.65% |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
DHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
DHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 10.03% | 2.00% | 121.00% | 6.42% |
DHYAX - Distributions
Dividend Yield Analysis
DHYAX | Category Low | Category High | DHYAX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.91% | 0.00% | 5.94% | 61.88% |
Dividend Distribution Analysis
DHYAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
DHYAX | Category Low | Category High | DHYAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.10% | 1.11% | 5.44% | 53.96% |
Capital Gain Distribution Analysis
DHYAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.035 | OrdinaryDividend |
Oct 31, 2024 | $0.035 | OrdinaryDividend |
Sep 30, 2024 | $0.031 | OrdinaryDividend |
Aug 30, 2024 | $0.037 | OrdinaryDividend |
Jul 31, 2024 | $0.035 | OrdinaryDividend |
Apr 30, 2024 | $0.033 | OrdinaryDividend |
Mar 28, 2024 | $0.035 | OrdinaryDividend |
Feb 29, 2024 | $0.033 | OrdinaryDividend |
Jan 31, 2024 | $0.036 | OrdinaryDividend |
Dec 29, 2023 | $0.035 | OrdinaryDividend |
Nov 30, 2023 | $0.033 | OrdinaryDividend |
Oct 31, 2023 | $0.036 | OrdinaryDividend |
Sep 29, 2023 | $0.032 | OrdinaryDividend |
Aug 31, 2023 | $0.033 | OrdinaryDividend |
Jul 31, 2023 | $0.033 | OrdinaryDividend |
Jun 30, 2023 | $0.032 | OrdinaryDividend |
May 31, 2023 | $0.036 | OrdinaryDividend |
Apr 28, 2023 | $0.030 | OrdinaryDividend |
Mar 31, 2023 | $0.033 | OrdinaryDividend |
Feb 28, 2023 | $0.030 | OrdinaryDividend |
Jan 31, 2023 | $0.035 | OrdinaryDividend |
Dec 30, 2022 | $0.033 | OrdinaryDividend |
Nov 30, 2022 | $0.033 | OrdinaryDividend |
Oct 31, 2022 | $0.033 | OrdinaryDividend |
Sep 30, 2022 | $0.031 | OrdinaryDividend |
Aug 31, 2022 | $0.033 | OrdinaryDividend |
Jul 29, 2022 | $0.030 | OrdinaryDividend |
Jun 30, 2022 | $0.031 | OrdinaryDividend |
May 31, 2022 | $0.034 | OrdinaryDividend |
Apr 29, 2022 | $0.030 | OrdinaryDividend |
Mar 31, 2022 | $0.030 | OrdinaryDividend |
Feb 28, 2022 | $0.026 | OrdinaryDividend |
Jan 31, 2022 | $0.029 | OrdinaryDividend |
Dec 31, 2021 | $0.030 | OrdinaryDividend |
Nov 30, 2021 | $0.030 | OrdinaryDividend |
Oct 29, 2021 | $0.027 | OrdinaryDividend |
Sep 30, 2021 | $0.028 | OrdinaryDividend |
Aug 31, 2021 | $0.031 | OrdinaryDividend |
Jul 30, 2021 | $0.029 | OrdinaryDividend |
Jun 30, 2021 | $0.033 | OrdinaryDividend |
May 28, 2021 | $0.029 | OrdinaryDividend |
Apr 30, 2021 | $0.032 | OrdinaryDividend |
Mar 31, 2021 | $0.038 | OrdinaryDividend |
Feb 26, 2021 | $0.032 | OrdinaryDividend |
Jan 29, 2021 | $0.037 | OrdinaryDividend |
Dec 31, 2020 | $0.036 | OrdinaryDividend |
Nov 30, 2020 | $0.036 | OrdinaryDividend |
Oct 30, 2020 | $0.035 | OrdinaryDividend |
Sep 30, 2020 | $0.035 | OrdinaryDividend |
Aug 31, 2020 | $0.036 | OrdinaryDividend |
Jul 31, 2020 | $0.035 | OrdinaryDividend |
Jun 30, 2020 | $0.037 | OrdinaryDividend |
May 29, 2020 | $0.036 | OrdinaryDividend |
Apr 30, 2020 | $0.033 | OrdinaryDividend |
Mar 31, 2020 | $0.034 | OrdinaryDividend |
Feb 28, 2020 | $0.031 | OrdinaryDividend |
Jan 31, 2020 | $0.035 | OrdinaryDividend |
Dec 31, 2019 | $0.037 | OrdinaryDividend |
Nov 29, 2019 | $0.033 | OrdinaryDividend |
Oct 31, 2019 | $0.037 | OrdinaryDividend |
Sep 30, 2019 | $0.037 | OrdinaryDividend |
Aug 30, 2019 | $0.035 | OrdinaryDividend |
Jul 31, 2019 | $0.040 | OrdinaryDividend |
Dec 28, 2017 | $0.022 | CapitalGainShortTerm |
Dec 29, 2016 | $0.009 | CapitalGainShortTerm |
Dec 23, 2015 | $0.004 | CapitalGainShortTerm |
Dec 18, 2014 | $0.010 | CapitalGainShortTerm |
Dec 19, 2013 | $0.011 | CapitalGainShortTerm |
Dec 13, 2012 | $0.003 | CapitalGainShortTerm |
Dec 08, 2011 | $0.017 | CapitalGainShortTerm |
DHYAX - Fund Manager Analysis
Managers
Jeffrey Burger
Start Date
Tenure
Tenure Rank
Nov 08, 2011
10.57
10.6%
Jeffrey Burger, CFA Director, Senior Portfolio Manager Jeffrey is a senior portfolio manager for US Municipal Bond strategies. He is responsible for managing US Municipal Bond strategies for institutional, high net worth and mutual fund clients. Previously, he served as a senior analyst for the firm, specializing in land-secured and special tax bonds. Prior to joining the firm in 2009, Jeffrey worked at Columbia Management as a portfolio manager and senior research analyst and at Fitch Ratings as a senior-level analyst. He is a former chairman and member of the executive committee and board of governors for the National Federation of Municipal Analysts. He is also a former president of the Boston Municipal Analysts Forum. Jeffrey has been in the investment industry since 1998. Jeffrey earned an MPA from the Maxwell School of Citizenship and Public Affairs at Syracuse University and a BA degree, cum laude, in policy studies and public relations from Syracuse University. He holds the CFA® designation and is a member of the CFA Institute.
Daniel Barton
Start Date
Tenure
Tenure Rank
Feb 07, 2012
10.32
10.3%
Daniel Barton, CFA and Jeffrey Burger, CFA are the fund's primary portfolio managers, positions they have held since December 2009 and March 2012, respectively. Messrs. Barton and Burger are jointly and primarily responsible for managing the fund's portfolio. Mr. Barton is a director and head of research for tax sensitive strategies at Mellon Investments Corporation. He has been employed by Mellon or a predecessor company of Mellon since 2005, and by BNYM Investment Adviser since December 2009. Mr. Burger is a director and senior portfolio manager for tax sensitive strategies at Mellon. He has been employed by Mellon or a predecessor company of Mellon since July 2009, and by BNYM Investment Adviser since December 2009. Messrs. Barton and Burger manage the fund in their capacity as employees of BNYM Investment Adviser and also manage certain other municipal bond funds advised by BNYM Investment Adviser
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 21.43 | 7.58 | 2.52 |