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Trending ETFs

Name

As of 03/26/2024

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

$12.17

$446 M

2.88%

$0.35

0.72%

Vitals

YTD Return

0.3%

1 yr return

4.5%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

1.5%

Net Assets

$446 M

Holdings in Top 10

12.6%

52 WEEK LOW AND HIGH

$12.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.72%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 9.40%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$12.17

$446 M

2.88%

$0.35

0.72%

PTEBX - Profile

Distributions

  • YTD Total Return 0.3%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.47%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BNY Mellon Opportunistic Municipal Securities Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • 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 personal income tax. Typically, the fund invests substantially all of its assets in such municipal bonds. 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 Insight North America LLC, the fund's sub-adviser. For additional yield, the fund may invest up to 30% of its net assets in municipal bonds rated, at the time of purchase, 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 or duration. 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. 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'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 structural objectives.

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

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PTEBX - Performance

Return Ranking - Trailing

Period PTEBX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -2.7% 12.2% 9.69%
1 Yr 4.5% -3.0% 38.5% 11.38%
3 Yr -0.5%* -10.3% 3.3% 38.00%
5 Yr 1.5%* -5.7% 1102.9% 11.77%
10 Yr 2.6%* -0.2% 248.3% 15.59%

* Annualized

Return Ranking - Calendar

Period PTEBX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -1.4% 41.0% 17.62%
2022 -12.2% -39.7% 0.3% 58.74%
2021 -0.7% -5.6% 6.9% 61.38%
2020 2.1% -2.6% 310.0% 30.97%
2019 5.0% 0.0% 26.0% 13.73%

Total Return Ranking - Trailing

Period PTEBX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -2.7% 12.2% 9.69%
1 Yr 4.5% -3.0% 38.5% 11.38%
3 Yr -0.5%* -10.3% 3.3% 38.00%
5 Yr 1.5%* -5.7% 1102.9% 11.77%
10 Yr 2.6%* -0.2% 248.3% 15.59%

* Annualized

Total Return Ranking - Calendar

Period PTEBX Return Category Return Low Category Return High Rank in Category (%)
2023 6.9% -1.3% 41.0% 19.24%
2022 -9.7% -39.7% 1.1% 55.78%
2021 2.1% -4.8% 23761504.0% 36.31%
2020 4.8% -1.5% 17057.9% 19.95%
2019 8.3% 0.2% 3514.6% 10.96%

NAV & Total Return History


PTEBX - Holdings

Concentration Analysis

PTEBX Category Low Category High PTEBX % Rank
Net Assets 446 M 3.48 M 68.1 B 48.61%
Number of Holdings 229 2 12848 49.94%
Net Assets in Top 10 54.2 M -317 M 3.4 B 61.21%
Weighting of Top 10 12.65% 1.9% 100.4% 75.11%

Top 10 Holdings

  1. COUNTY OF JEFFERSON AL SEWER REVENUE 1.92%
  2. COMMONWEALTH OF PUERTO RICO 1.78%
  3. BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY 1.37%
  4. CLARK COUNTY SCHOOL DISTRICT 1.20%
  5. TRIBOROUGH BRIDGE TUNNEL AUTHORITY 1.19%
  6. CLIFTON HIGHER EDUCATION FINANCE CORP 1.16%
  7. SOUTH CAROLINA PUBLIC SERVICE AUTHORITY 1.13%
  8. ARKANSAS DEVELOPMENT FINANCE AUTHORITY 1.02%
  9. NORTH TEXAS TOLLWAY AUTHORITY 0.94%
  10. PENNSYLVANIA TURNPIKE COMMISSION OIL FRANCHISE TAX REVENUE 0.93%

Asset Allocation

Weighting Return Low Return High PTEBX % Rank
Bonds
98.07% 0.00% 150.86% 61.82%
Cash
1.93% -50.86% 50.09% 34.54%
Stocks
0.00% 0.00% 99.80% 42.05%
Preferred Stocks
0.00% 0.00% 0.52% 34.86%
Other
0.00% -8.54% 33.35% 40.27%
Convertible Bonds
0.00% 0.00% 0.93% 34.80%

Bond Sector Breakdown

Weighting Return Low Return High PTEBX % Rank
Municipal
95.87% 44.39% 100.00% 74.90%
Derivative
0.00% -8.54% 23.38% 37.37%
Cash & Equivalents
0.00% 0.00% 48.02% 72.49%
Securitized
0.00% 0.00% 5.93% 35.71%
Corporate
0.00% 0.00% 9.41% 45.73%
Government
0.00% 0.00% 52.02% 40.62%

Bond Geographic Breakdown

Weighting Return Low Return High PTEBX % Rank
US
98.07% 0.00% 142.23% 58.83%
Non US
0.00% 0.00% 23.89% 42.20%

PTEBX - Expenses

Operational Fees

PTEBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.01% 20.65% 52.26%
Management Fee 0.35% 0.00% 1.20% 26.34%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

PTEBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.50% 4.75% 5.93%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

PTEBX 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.

PTEBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 9.40% 0.00% 283.00% 19.62%

PTEBX - Distributions

Dividend Yield Analysis

PTEBX Category Low Category High PTEBX % Rank
Dividend Yield 2.88% 0.00% 14.36% 42.37%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PTEBX Category Low Category High PTEBX % Rank
Net Income Ratio 2.47% -0.53% 5.33% 19.70%

Capital Gain Distribution Analysis

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

Distributions History

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PTEBX - 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.

Jeffrey Burger


Start Date

Tenure

Tenure Rank

May 06, 2014

8.07

8.1%

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 7.36 1.58