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Trending ETFs

Name

As of 01/20/2023

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

$18.84

$48 M

2.04%

$0.38

0.75%

Vitals

YTD Return

0.6%

1 yr return

-7.4%

3 Yr Avg Return

-6.4%

5 Yr Avg Return

-3.7%

Net Assets

$48 M

Holdings in Top 10

26.2%

52 WEEK LOW AND HIGH

$18.9
$18.27
$20.35

Expenses

OPERATING FEES

Expense Ratio 0.75%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 12.27%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$750


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 01/20/2023

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

$18.84

$48 M

2.04%

$0.38

0.75%

DSDAX - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return -6.4%
  • 5 Yr Annualized Total Return -3.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.91%
DIVIDENDS
  • Dividend Yield 2.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BNY Mellon Tax Sensitive Total Return Bond Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    Mar 31, 2009
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Thomas Casey

Fund Description

To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds (or other instruments with similar economic characteristics). The fund normally invests at least 65% of its net assets in municipal bonds that provide income exempt from federal personal income tax. The fund may invest up to 35% of its net assets in taxable bonds and may invest, without limitation, in municipal bonds, the income from which is subject to the federal alternative minimum tax. The fund invests principally in the following:

municipal bonds;

bonds issued or guaranteed by the U.S. government or its agencies or instrumentalities;

corporate bonds;

mortgage-related securities;

asset-backed securities;

floating rate loans (limited to up to 20% of the fund's net assets) and other floating rate securities; and

bonds of foreign governments and companies (limited to up to 15% of the fund's assets, including emerging market bonds).

The fund also may invest in money market instruments and other short-term debt instruments.

The fund invests principally in bonds rated investment grade (i.e., Baa/BBB or higher) at the time of purchase or, if unrated, determined to be of comparable quality by the fund's sub-adviser. The fund is permitted to invest up to 25% of its assets, in the aggregate, in fixed-income securities rated below investment grade ("high yield" or "junk" bonds) or, if unrated, determined to be of comparable quality by the fund's sub-adviser, with up to 15% of the fund's assets in such securities that are taxable and up to 10% of its assets in such securities that are tax exempt.

The fund's portfolio managers seek relative value opportunities within the municipal bond market and to selectively invest in taxable securities that may offer the potential to enhance after-tax total return and/or reduce volatility. In selecting securities, the portfolio managers use a combination of fundamental credit analysis and macro-economic and quantitative inputs. The portfolio managers focus on identifying undervalued sectors and securities and select municipal bonds by (i) using fundamental credit analysis to estimate the relative value and attractiveness of various sectors and securities and to exploit pricing inefficiencies in the municipal bond market, and (ii) investing in various sectors based on apparent relative values. The fund generally maintains an effective portfolio duration of seven years or less. The fund does not have any restrictions on its average effective portfolio maturity or on the maturity or duration of the individual bonds the fund may purchase. 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.

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DSDAX - Performance

Return Ranking - Trailing

Period DSDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -86.8% 7.5% 72.01%
1 Yr -7.4% -21.5% 15.7% 65.31%
3 Yr -6.4%* -10.1% 52.3% 97.82%
5 Yr -3.7%* -5.1% 29.7% 99.35%
10 Yr -2.1%* -3.2% 13.5% 95.47%

* Annualized

Return Ranking - Calendar

Period DSDAX Return Category Return Low Category Return High Rank in Category (%)
2023 -9.9% -91.1% 101.7% 47.74%
2022 -3.9% -79.2% 102.5% 95.59%
2021 -0.4% -66.1% 60.0% 77.03%
2020 0.1% -57.4% 7.6% 88.55%
2019 -0.3% -35.9% 3.2% 25.45%

Total Return Ranking - Trailing

Period DSDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -86.8% 7.5% 71.98%
1 Yr -7.4% -21.5% 15.4% 65.62%
3 Yr -6.4%* -10.1% 52.3% 97.83%
5 Yr -3.7%* -5.1% 29.7% 99.34%
10 Yr -2.0%* -3.2% 13.6% 93.88%

* Annualized

Total Return Ranking - Calendar

Period DSDAX Return Category Return Low Category Return High Rank in Category (%)
2023 -9.9% -91.1% 101.7% 47.76%
2022 -3.9% -79.2% 102.5% 95.59%
2021 -0.4% -66.1% 60.0% 77.04%
2020 0.1% -57.4% 7.6% 88.76%
2019 -0.3% -35.9% 3.2% 27.66%

NAV & Total Return History


DSDAX - Holdings

Concentration Analysis

DSDAX Category Low Category High DSDAX % Rank
Net Assets 48 M 2.87 M 73.9 B 94.21%
Number of Holdings 53 1 14000 74.19%
Net Assets in Top 10 12.1 M -317 M 8.64 B 69.76%
Weighting of Top 10 26.19% 2.4% 100.0% 36.80%

Top 10 Holdings

  1. RHODE ISLAND ST STUDENT LN AUTH STUDENT LN REV 5% 2.89%
  2. REEDY CREEK IMPT DIST FLA 1.869% 2.83%
  3. MASSACHUSETTS EDL FING AUTH ED LN REV 5% 2.79%
  4. MUNICIPAL ELEC AUTH GA 5% 2.74%
  5. NEW JERSEY ST TRANSN TR FD AUTH 5% 2.65%
  6. TENNESSEE ENERGY ACQUISITION CORP GAS REV 5.25% 2.59%
  7. FEDERAL HOME LN MTG CORP MULTIFAMILY VAR RATE CTFS RELATING TO MUN SECS 3.1 2.46%
  8. PHILADELPHIA PA 5% 2.45%
  9. NEW YORK N Y 3.86% 2.44%
  10. HAWAII ST ARPTS SYS REV 5% 2.41%

Asset Allocation

Weighting Return Low Return High DSDAX % Rank
Bonds
97.83% 0.00% 150.86% 70.33%
Cash
2.17% -50.86% 100.00% 28.53%
Stocks
0.00% -0.03% 4.63% 19.51%
Preferred Stocks
0.00% -1.79% 0.04% 16.64%
Other
0.00% -13.03% 30.01% 17.86%
Convertible Bonds
0.00% 0.00% 0.93% 16.73%

Bond Sector Breakdown

Weighting Return Low Return High DSDAX % Rank
Municipal
95.65% 0.00% 100.00% 82.19%
Corporate
2.18% 0.00% 9.99% 1.22%
Cash & Equivalents
2.17% 0.00% 100.00% 30.20%
Derivative
0.00% 0.00% 21.68% 16.59%
Securitized
0.00% 0.00% 5.93% 17.86%
Government
0.00% 0.00% 52.02% 22.02%

Bond Geographic Breakdown

Weighting Return Low Return High DSDAX % Rank
US
97.83% 0.00% 142.23% 46.75%
Non US
0.00% 0.00% 62.14% 75.36%

DSDAX - Expenses

Operational Fees

DSDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.02% 3.60% 30.08%
Management Fee 0.40% 0.00% 1.10% 37.79%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.06% 0.01% 0.44% 18.13%

Sales Fees

DSDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.00% 4.90% 19.24%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

DSDAX 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.

DSDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.27% 0.00% 283.00% 33.53%

DSDAX - Distributions

Dividend Yield Analysis

DSDAX Category Low Category High DSDAX % Rank
Dividend Yield 2.04% 0.00% 35.27% 43.72%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DSDAX Category Low Category High DSDAX % Rank
Net Income Ratio 1.91% -0.53% 24.00% 52.55%

Capital Gain Distribution Analysis

DSDAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Monthly Monthly Monthly

Distributions History

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DSDAX - Fund Manager Analysis

Managers

Thomas Casey


Start Date

Tenure

Tenure Rank

Apr 29, 2010

12.1

12.1%

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.

Daniel Rabasco


Start Date

Tenure

Tenure Rank

Feb 21, 2014

8.28

8.3%

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.

Jeffrey Burger


Start Date

Tenure

Tenure Rank

Mar 20, 2014

8.2

8.2%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.23 1.58