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Trending ETFs

Name

As of 07/11/2024

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

$11.05

$243 M

2.66%

$0.29

1.80%

Vitals

YTD Return

3.4%

1 yr return

6.6%

3 Yr Avg Return

-3.5%

5 Yr Avg Return

-0.2%

Net Assets

$243 M

Holdings in Top 10

16.2%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.80%

SALES FEES

Front Load N/A

Deferred Load 1.00%

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 07/11/2024

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

$11.05

$243 M

2.66%

$0.29

1.80%

DHYCX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return -3.5%
  • 5 Yr Annualized Total Return -0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.33%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BNY Mellon High Yield Municipal Bond Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    Mar 15, 2007
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeffrey 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.

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DHYCX - Performance

Return Ranking - Trailing

Period DHYCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -1.9% 8.6% 66.35%
1 Yr 6.6% -0.3% 11.2% 65.87%
3 Yr -3.5%* -9.7% 2.0% 90.64%
5 Yr -0.2%* -4.9% 526.6% 89.90%
10 Yr 2.6%* 0.0% 156.0% 71.65%

* Annualized

Return Ranking - Calendar

Period DHYCX Return Category Return Low Category Return High Rank in Category (%)
2023 3.2% -6.2% 7.5% 39.90%
2022 -19.7% -26.9% -3.5% 85.37%
2021 3.0% -1.9% 5.6% 21.78%
2020 -0.8% -10.1% 4.2% 81.50%
2019 6.2% -0.7% 9.1% 22.68%

Total Return Ranking - Trailing

Period DHYCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -1.9% 8.6% 66.35%
1 Yr 6.6% -0.3% 11.2% 65.87%
3 Yr -3.5%* -9.7% 2.0% 90.64%
5 Yr -0.2%* -4.9% 526.6% 89.90%
10 Yr 2.6%* 0.0% 156.0% 71.65%

* Annualized

Total Return Ranking - Calendar

Period DHYCX Return Category Return Low Category Return High Rank in Category (%)
2023 6.6% -4.1% 10.9% 57.21%
2022 -17.5% -26.9% 4.3% 88.29%
2021 5.4% -1.9% 10.0% 51.98%
2020 1.5% -4.1% 8.2% 81.50%
2019 9.5% -0.7% 1028633.9% 28.87%

NAV & Total Return History


DHYCX - Holdings

Concentration Analysis

DHYCX Category Low Category High DHYCX % Rank
Net Assets 243 M 9.79 K 16.1 B 78.16%
Number of Holdings 174 1 3161 80.49%
Net Assets in Top 10 39.5 M -102 M 3.63 B 80.00%
Weighting of Top 10 16.22% 4.3% 99.9% 32.84%

Top 10 Holdings

  1. MICHIGAN TOBACCO SETTLEMENT FINANCE AUTHORITY 2.09%
  2. BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY 1.84%
  3. NEW YORK CONVENTION CENTER DEVELOPMENT CORP 1.82%
  4. PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 1.78%
  5. VIRGINIA SMALL BUSINESS FINANCING AUTHORITY 1.72%
  6. METROPOLITAN WASHINGTON AIRPORTS AUTHORITY DULLES TOLL ROAD REVENUE 1.58%
  7. WASHINGTON STATE CONVENTION CENTER PUBLIC FACILITIES DISTRICT 1.46%
  8. CALIFORNIA MUNICIPAL FINANCE AUTHORITY 1.39%
  9. NORTH CAROLINA MEDICAL CARE COMMISSION 1.37%
  10. PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 1.16%

Asset Allocation

Weighting Return Low Return High DHYCX % Rank
Bonds
98.32% 0.00% 146.69% 63.46%
Cash
1.68% -0.64% 100.00% 31.71%
Stocks
0.00% 0.00% 99.33% 60.10%
Preferred Stocks
0.00% -47.61% 1.64% 44.88%
Other
0.00% -8.76% 4.03% 51.22%
Convertible Bonds
0.00% 0.00% 0.00% 44.88%

Bond Sector Breakdown

Weighting Return Low Return High DHYCX % Rank
Municipal
99.49% 0.00% 100.00% 23.90%
Derivative
0.00% -8.76% 2.12% 45.85%
Cash & Equivalents
0.00% 0.00% 100.00% 70.24%
Securitized
0.00% 0.00% 22.44% 47.32%
Corporate
0.00% 0.00% 2.83% 72.68%
Government
0.00% 0.00% 0.09% 48.29%

Bond Geographic Breakdown

Weighting Return Low Return High DHYCX % Rank
US
98.32% 0.00% 139.84% 59.51%
Non US
0.00% 0.00% 13.35% 49.27%

DHYCX - Expenses

Operational Fees

DHYCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.80% 0.21% 3.44% 10.63%
Management Fee 0.45% 0.00% 1.41% 27.40%
12b-1 Fee 0.75% 0.00% 1.00% 70.27%
Administrative Fee 0.10% 0.02% 0.35% 52.46%

Sales Fees

DHYCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load 1.00% 1.00% 5.00% 45.95%

Trading Fees

DHYCX 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.

DHYCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 10.03% 2.00% 121.00% 6.81%

DHYCX - Distributions

Dividend Yield Analysis

DHYCX Category Low Category High DHYCX % Rank
Dividend Yield 2.66% 0.00% 6.13% 83.65%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DHYCX Category Low Category High DHYCX % Rank
Net Income Ratio 2.33% 1.11% 5.70% 84.13%

Capital Gain Distribution Analysis

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

Distributions History

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DHYCX - 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
0.06 21.43 7.46 2.52