Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
9.0%
1 yr return
15.1%
3 Yr Avg Return
0.5%
5 Yr Avg Return
4.2%
Net Assets
$1.03 B
Holdings in Top 10
55.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.01%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 71.67%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$750
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DRRIX - Profile
Distributions
- YTD Total Return 9.0%
- 3 Yr Annualized Total Return 0.5%
- 5 Yr Annualized Total Return 4.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.86%
- Dividend Yield 0.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBNY Mellon Global Real Return Fund
-
Fund Family NameDreyfus
-
Inception DateMay 12, 2010
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerSuzanne Hutchins
Fund Description
To pursue its goal, the fund uses an actively-managed multi-asset strategy to produce absolute or real returns with less volatility than major equity markets over a complete market cycle, typically a period of five years. The fund is not managed to a benchmark index. Rather than managing to track a benchmark index, the fund seeks to provide returns that are largely independent of market moves.
The fund allocates its investments among global equities, bonds and cash, and, generally to a lesser extent, other asset classes, including real estate, commodities, currencies and alternative or non-traditional asset classes and strategies, primarily those accessed through derivative instruments. The fund may invest in, or otherwise have investment exposure to, the securities of companies of any market capitalization. The fund obtains investment exposure to these asset classes by investing in securities and through derivative instruments.
The fund's sub-adviser, Newton Investment Management Limited, an affiliate of BNY Mellon Investment Adviser, Inc., combines a top-down approach, emphasizing economic trends and current investment themes on a global basis, with bottom-up security selection based on fundamental research to allocate the fund's investments among and within asset classes. In choosing investments, the sub-adviser considers: key trends in global economic variables, such as gross domestic product, inflation and interest rates; investment themes, such as changing demographics, the impact of new technologies and the globalization of industries and brands; relative valuations of equity securities, bonds and cash; long-term trends in currency movements; and company fundamentals. Within markets and sectors determined to be attractive in absolute terms, the fund's sub-adviser seeks what it believes to be attractively priced companies that possess a sustainable competitive advantage in their market or sector and invests in such companies across their capital structures. The fund generally will sell investments when themes change or when the sub-adviser determines that a particular market or sector is no longer considered attractive in absolute terms, a company's prospects have changed or the investment is fully valued by the market.
The fund's investments will be focused globally among the developed and emerging capital markets of the world. Under normal market conditions, the fund will invest a substantial portion of its assets in the securities of issuers organized or located outside the United States, whose primary listing exchange for securities is located outside the United States, whose largest amount of revenues are derived from countries outside the United States or whose reporting currencies are other than U.S. dollars, and derivatives which provide exposure to such issuers or foreign markets. The sub-adviser has considerable latitude in allocating the fund's investments and in selecting securities and derivative instruments to implement the fund's investment approach, although the fund must invest at least 10% of the value of its total assets in equity securities and at least 10% of the value of its total assets in fixed-income securities. The fund may invest in bonds and other fixed-income securities of any maturity or duration. 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.
The fund may use, to a significant degree, derivative instruments as a substitute for investing directly in equities, bonds, currencies and other asset classes in connection with its investment strategy. The fund also may use derivative instruments as part of a hedging strategy or for other purposes related to the management of the fund. The derivative instruments in which the fund may invest typically include options, futures and options on futures (including those relating to securities, indices, foreign currencies and interest rates), forward contracts, swap agreements and structured notes.
The fund also may gain investment exposure to global commodity markets through investments in a wholly-owned and controlled subsidiary of the fund that principally invests directly in commodity-related instruments, including futures and options contracts, swap agreements and pooled investment vehicles that invest in commodities. The subsidiary has the same investment objective, investment adviser and sub-adviser as the fund.
The fund's portfolio will not have the same characteristics as its designated performance baseline benchmark — USD 30-day Compounded Secured Overnight Financing Rate (SOFR) — or its designated broad-based securities market index — the FTSE One-Month U.S. Treasury Bill Index. Although the fund is not managed to a benchmark index, the fund seeks to provide a minimum average annual total return of USD 30-day Compounded SOFR plus 4%, before fees and expenses, over a five-year period. There can be no assurance the fund will be able to provide such returns and you may lose money by investing in the fund.
DRRIX - Performance
Return Ranking - Trailing
Period | DRRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.0% | -2.8% | 27.4% | 64.98% |
1 Yr | 15.1% | 1.3% | 51.5% | 70.97% |
3 Yr | 0.5%* | -21.3% | 11.6% | 61.86% |
5 Yr | 4.2%* | -11.8% | 23.0% | 70.10% |
10 Yr | 3.9%* | -4.8% | 9.8% | 65.22% |
* Annualized
Return Ranking - Calendar
Period | DRRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.5% | -18.9% | 60.2% | 77.31% |
2022 | -16.5% | -48.5% | 0.1% | 48.37% |
2021 | 5.3% | -19.0% | 48.3% | 39.25% |
2020 | 8.2% | -16.5% | 52.8% | 32.35% |
2019 | 9.2% | -8.5% | 26.6% | 57.79% |
Total Return Ranking - Trailing
Period | DRRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.0% | -2.8% | 27.4% | 64.98% |
1 Yr | 15.1% | 1.3% | 51.5% | 70.97% |
3 Yr | 0.5%* | -21.3% | 11.6% | 61.86% |
5 Yr | 4.2%* | -11.8% | 23.0% | 70.10% |
10 Yr | 3.9%* | -4.8% | 9.8% | 65.22% |
* Annualized
Total Return Ranking - Calendar
Period | DRRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.7% | -11.7% | 61.8% | 87.50% |
2022 | -8.5% | -48.5% | 4.6% | 20.00% |
2021 | 7.0% | -14.2% | 48.3% | 75.23% |
2020 | 9.7% | -11.7% | 77.4% | 37.75% |
2019 | 11.7% | -3.9% | 28.4% | 67.84% |
NAV & Total Return History
DRRIX - Holdings
Concentration Analysis
DRRIX | Category Low | Category High | DRRIX % Rank | |
---|---|---|---|---|
Net Assets | 1.03 B | 1.98 M | 12.4 B | 20.74% |
Number of Holdings | 148 | 2 | 2274 | 26.27% |
Net Assets in Top 10 | 585 M | 1.55 M | 9.46 B | 24.42% |
Weighting of Top 10 | 55.63% | 20.8% | 109.8% | 70.97% |
Top 10 Holdings
- US 2YR NOTE (CBT) SEP24 20.73%
- UNITED STATES TREASURY FLOATING RATE NOTE 6.87%
- UNITED STATES TREASURY INFLATION INDEXED BONDS 4.93%
- MERRILL LYNCH BV 4.68%
- US LONG BOND(CBT) SEP24 4.25%
- UNITED KINGDOM GILT 3.07%
- MEXICO CETES 3.03%
- Dreyfus Institutional Preferred Government Plus Money Market Fund 3.01%
- UNITED STATES TREASURY FLOATING RATE NOTE 2.57%
- HKD/USD FWD 20240816 00189 2.48%
Asset Allocation
Weighting | Return Low | Return High | DRRIX % Rank | |
---|---|---|---|---|
Stocks | 50.82% | 0.00% | 145.83% | 77.88% |
Bonds | 38.82% | 0.00% | 106.59% | 17.51% |
Cash | 22.31% | -33.22% | 99.64% | 17.97% |
Convertible Bonds | 1.37% | 0.00% | 8.92% | 11.98% |
Preferred Stocks | 0.00% | -0.09% | 5.36% | 83.41% |
Other | -12.04% | -29.71% | 135.29% | 99.08% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DRRIX % Rank | |
---|---|---|---|---|
Healthcare | 14.64% | 0.00% | 38.63% | 25.14% |
Technology | 11.59% | 0.00% | 85.77% | 73.22% |
Consumer Cyclical | 11.59% | 0.00% | 25.83% | 15.30% |
Industrials | 10.87% | 0.00% | 23.85% | 26.23% |
Energy | 10.78% | 0.00% | 60.89% | 18.58% |
Financial Services | 9.59% | 0.00% | 98.22% | 66.67% |
Basic Materials | 8.61% | 0.00% | 56.73% | 8.74% |
Utilities | 8.12% | 0.00% | 91.12% | 14.75% |
Communication Services | 5.95% | 0.00% | 21.61% | 46.99% |
Consumer Defense | 4.82% | 0.00% | 37.51% | 64.48% |
Real Estate | 3.44% | 0.00% | 99.45% | 46.99% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DRRIX % Rank | |
---|---|---|---|---|
US | 29.01% | 0.00% | 145.83% | 80.65% |
Non US | 21.81% | -1.94% | 38.53% | 5.99% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DRRIX % Rank | |
---|---|---|---|---|
Government | 17.96% | 0.00% | 99.78% | 61.75% |
Corporate | 11.31% | 0.00% | 95.17% | 35.94% |
Cash & Equivalents | 5.27% | 0.00% | 99.38% | 37.79% |
Securitized | 0.00% | 0.00% | 52.99% | 92.63% |
Municipal | 0.00% | 0.00% | 19.13% | 88.94% |
Derivative | -12.04% | -15.85% | 135.29% | 99.54% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DRRIX % Rank | |
---|---|---|---|---|
US | 24.40% | 0.00% | 92.67% | 22.58% |
Non US | 14.43% | 0.00% | 26.57% | 5.53% |
DRRIX - Expenses
Operational Fees
DRRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.01% | 0.45% | 10.24% | 83.41% |
Management Fee | 0.75% | 0.00% | 1.50% | 43.32% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.05% | 0.70% | N/A |
Sales Fees
DRRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
DRRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | 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.
DRRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 71.67% | 1.75% | 441.00% | 39.08% |
DRRIX - Distributions
Dividend Yield Analysis
DRRIX | Category Low | Category High | DRRIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.13% | 0.00% | 24.95% | 80.18% |
Dividend Distribution Analysis
DRRIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
DRRIX | Category Low | Category High | DRRIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.86% | -2.01% | 13.72% | 38.25% |
Capital Gain Distribution Analysis
DRRIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $0.022 | OrdinaryDividend |
Dec 29, 2022 | $1.397 | OrdinaryDividend |
Dec 30, 2021 | $0.287 | OrdinaryDividend |
Dec 30, 2020 | $0.231 | OrdinaryDividend |
Dec 30, 2019 | $0.356 | OrdinaryDividend |
Dec 28, 2018 | $0.508 | OrdinaryDividend |
Dec 28, 2017 | $0.126 | OrdinaryDividend |
Dec 29, 2016 | $0.415 | OrdinaryDividend |
Dec 30, 2015 | $0.622 | OrdinaryDividend |
Dec 30, 2014 | $0.723 | OrdinaryDividend |
Mar 31, 2014 | $0.009 | CapitalGainLongTerm |
Dec 30, 2013 | $0.100 | CapitalGainShortTerm |
Dec 30, 2013 | $0.024 | CapitalGainLongTerm |
Dec 30, 2013 | $0.065 | OrdinaryDividend |
Dec 28, 2012 | $0.090 | OrdinaryDividend |
Dec 29, 2011 | $0.125 | OrdinaryDividend |
Dec 29, 2011 | $0.038 | CapitalGainShortTerm |
Dec 29, 2011 | $0.035 | CapitalGainLongTerm |
DRRIX - Fund Manager Analysis
Managers
Suzanne Hutchins
Start Date
Tenure
Tenure Rank
Dec 31, 2010
11.42
11.4%
Suzanne is a portfolio manager on the Real Return strategy and head of the Real Return team. She chairs the formal weekly team meeting and, together with Aron Pataki and Andy Warwick, Suzanne is responsible for the final capital allocation decisions on the strategy. Suzanne started her career at Newton in 1991 as a global research analyst before working directly with Stewart Newton on multi-asset and RPI-based strategies and leading on Newton’s UK and Intrepid teams. In 2005, Suzanne joined Capital International, before returning to Newton to focus on the Real Return strategy. She is an associate member of the CFA and UK Society of Investment Professionals (UKSIP) and graduated from University College London with a First Class BA (Hons) degree.
Aron Pataki
Start Date
Tenure
Tenure Rank
Dec 14, 2015
6.47
6.5%
Aron is a global portfolio manager and risk strategist for the real return portfolios, with a particular focus on the use of derivatives and hedging. Together with Suzanne Hutchins and Andy Warwick, Aron is responsible for the final capital allocation decisions on the strategy. Aron joined Newton in 2006 as a member of the portfolio analytics team, where he was responsible for risk analysis and portfolio construction across Newton’s institutional and retail portfolios. Previously, he worked as a quantitative analyst at Lacima Group.
Andrew Warwick
Start Date
Tenure
Tenure Rank
Jan 02, 2019
3.41
3.4%
Andy is a global portfolio manager of the Real Return strategy. Together with Aron Pataki and Suzanne Hutchins, Andy is responsible for the final capital allocation decisions on the strategy. Andy started his career at Mercury Asset Management in 1993 as a unit trust dealer before joining the quant & derivatives team to focus on managing synthetic portfolios for clients and trading equity derivatives for the firm. In 2006, Andy joined the multi-asset team at BlackRock where he was responsible for managing absolute and relative return mandates as well as the head of research specialising in equity thematic views and risk premia strategies. Andy has an MSc in Finance from Leicester University and is a CFA charterholder. Andy plays in a rock band in his spare time and enjoys playing, writing and recording music.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 33.83 | 6.67 | 13.0 |