BNY Mellon Municipal Bond Infrastructure Fund Inc.
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$10.33
- Net Assets:$211.77 Million
- NAV:$12.08
- Premium-14.49%
- Peer Rank:116 of 116
- Investment Rating:E+
- Performance:D-
- RiskC
We rate BNY Mellon Municipal Bond Infra at E+. Negative factors that influence this rating include a high expense structure. The fund may be considered for investors seeking a Municipal - National strategy.
Total return ranks well below peers over the last three years. The BNY Mellon Municipal Bond Infra has returned an annual rate of 1.65% since inception. More recently, the fund has generated a total return of 0.54% in the last five years, -5.35% in the last three years, and -0.61% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 18% of them. It has also outpaced 13% of its competitors on a three year basis and 14% of them over the last year for the period ending 2/29/2024. On a year to date basis, DMB has returned 0.82%.
Downside risk has been above average. DMB has a draw down risk of -43.53%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 23.5%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months.
High expense ratio hinders performance. On total assets of $211.77 million, DMB maintains a high expense ratio compared to its Municipal - National peers of 3.49% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As DMB is a closed end fund, it has no front end or back end load.
Manager tenure is a net positive but performance record lags managerial peers. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The BNY Mellon Municipal Bond Infra has been managed by Jeffrey B. Burger for the last 11 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 42% of other fund managers.