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Name

As of 03/08/2024

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

BNY Mellon Municipal Bond Fund

DRTAX | Fund

$10.86

$889 M

2.66%

$0.29

0.74%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$889 M

Holdings in Top 10

16.0%

52 WEEK LOW AND HIGH

$10.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.74%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 9.11%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 03/08/2024

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

BNY Mellon Municipal Bond Fund

DRTAX | Fund

$10.86

$889 M

2.66%

$0.29

0.74%

DRTAX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.38%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BNY Mellon Municipal Bond Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Marques

Fund Description

To pursue its goal, the fund normally invests substantially all (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 invests at least 75% of its net assets in municipal bonds rated, at the time of purchase, A or higher or the unrated equivalent as determined by Insight North America LLC, the fund's sub-adviser. The fund may invest up to 25% of its net assets in municipal bonds rated, at the time of purchase, below A, including 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 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.

Read More

DRTAX - Performance

Return Ranking - Trailing

Period DRTAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -1.7% 9.5% 67.59%
1 Yr N/A -0.4% 39.1% 33.18%
3 Yr N/A* -9.9% 2.9% 57.75%
5 Yr N/A* -4.8% 1104.0% 23.34%
10 Yr N/A* -0.2% 248.3% 23.78%

* Annualized

Return Ranking - Calendar

Period DRTAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -1.4% 41.0% 23.64%
2022 -12.3% -40.2% 0.3% 60.09%
2021 -0.9% -5.6% 6.9% 71.50%
2020 1.5% -2.6% 310.0% 59.41%
2019 4.1% 0.0% 26.0% 37.14%

Total Return Ranking - Trailing

Period DRTAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -1.7% 9.5% 67.59%
1 Yr N/A -0.4% 39.1% 33.18%
3 Yr N/A* -9.9% 2.9% 57.75%
5 Yr N/A* -4.8% 1104.0% 23.34%
10 Yr N/A* -0.2% 248.3% 23.78%

* Annualized

Total Return Ranking - Calendar

Period DRTAX Return Category Return Low Category Return High Rank in Category (%)
2023 6.6% -1.3% 41.0% 25.52%
2022 -9.9% -40.2% 1.1% 57.86%
2021 2.2% -4.8% 23761504.0% 31.86%
2020 4.9% -1.5% 17057.9% 17.19%
2019 8.0% 0.2% 3514.6% 13.90%

NAV & Total Return History

DRTAX - Holdings

Concentration Analysis

DRTAX Category Low Category High DRTAX % Rank
Net Assets 889 M 3.48 M 68.1 B 30.61%
Number of Holdings 250 2 12848 46.85%
Net Assets in Top 10 147 M -317 M 3.4 B 30.33%
Weighting of Top 10 15.99% 1.9% 100.4% 58.14%

Top 10 Holdings

  1. COUNTY OF JEFFERSON AL SEWER REVENUE 2.28%
  2. KENTUCKY PUBLIC ENERGY AUTHORITY 2.12%
  3. PENNSYLVANIA TURNPIKE COMMISSION OIL FRANCHISE TAX REVENUE 1.90%
  4. SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 1.74%
  5. NORTH TEXAS TOLLWAY AUTHORITY 1.58%
  6. COUNTY OF CLARK DEPARTMENT OF AVIATION 1.55%
  7. SAN FRANCISCO CITY COUNTY AIRPORT COMM-SAN FRANCISCO INTERNATIONAL AIRPORT 1.38%
  8. PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY 1.18%
  9. TOBACCO SETTLEMENT FINANCING CORP 1.16%
  10. GREAT LAKES WATER AUTHORITY WATER SUPPLY SYSTEM REVENUE 1.10%

Asset Allocation

Weighting Return Low Return High DRTAX % Rank
Bonds 		99.17% 0.00% 150.86% 32.88%
Cash 		0.83% -50.86% 50.09% 65.87%
Stocks 		0.00% 0.00% 99.88% 97.94%
Preferred Stocks 		0.00% 0.00% 0.52% 89.20%
Other 		0.00% -8.54% 33.35% 86.50%
Convertible Bonds 		0.00% 0.00% 0.93% 89.16%

Bond Sector Breakdown

Weighting Return Low Return High DRTAX % Rank
Municipal 		99.92% 44.39% 100.00% 16.39%
Derivative 		0.00% -8.54% 23.38% 85.60%
Cash & Equivalents 		0.00% 0.00% 48.02% 94.86%
Securitized 		0.00% 0.00% 5.93% 89.61%
Corporate 		0.00% 0.00% 9.41% 91.16%
Government 		0.00% 0.00% 52.02% 89.74%

Bond Geographic Breakdown

Weighting Return Low Return High DRTAX % Rank
US 		99.17% 0.00% 142.23% 30.72%
Non US 		0.00% 0.00% 23.89% 97.88%

DRTAX - Expenses

Operational Fees

DRTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.74% 0.01% 20.65% 50.58%
Management Fee 0.60% 0.00% 1.20% 97.24%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.01% 0.44% 46.48%

Sales Fees

DRTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

DRTAX 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.

DRTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 9.11% 0.00% 283.00% 19.17%

DRTAX - Distributions

Dividend Yield Analysis

DRTAX Category Low Category High DRTAX % Rank
Dividend Yield 2.66% 0.00% 14.33% 49.07%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DRTAX Category Low Category High DRTAX % Rank
Net Income Ratio 2.38% -0.53% 5.33% 25.37%

Capital Gain Distribution Analysis

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

Distributions History

View More +

DRTAX - Fund Manager Analysis

Managers

Daniel Marques

Start Date

Tenure

Tenure Rank

Dec 09, 2009

12.48

12.5%

Daniel Marques, CFA Director, Senior Portfolio Manager Dan is a senior portfolio manager for US Municipal Bond strategies. He is responsible for managing US Municipal Bond portfolios for institutional, high net worth and mutual fund clients. Dan is also a leader of sustainability and ESG integration for US municipal bond portfolios and a lead portfolio manager for the US Municipal Impact strategy. Dan also provides municipal market analysis and performance attribution commentary for the team. Prior to joining the firm in 2000, Dan served as an investment research manager at Citizens Bank. Dan has been in the investment industry since 1992.Dan earned an MBA from Nichols College and a BS from the University of Massachusetts. He holds the CFA® designation and is a member of the CFA Institute.

Daniel Rabasco

Start Date

Tenure

Tenure Rank

Feb 07, 2012

10.32

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58

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