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Address And Details

255 Liberty Street , New York, NY 10286
Fund Manager Thomas Casey
Manager Tenure 10 Years 8 Months

Strategy And Objective

The fund seeks to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital.To pursue its goal,the fund normally invests substantially all of its net assets in municipal bonds that provide income exempt from federal personal income tax.The fund invests only in municipal bonds rated investment grade (Baa/BBB or higher) at the time of purchase or the unrated equivalent as determined by BNY Mellon Investment Adviser,Inc.The fund invests principally in municipal bonds with remaining maturities of five years or less and generally maintains a dollar-weighted average portfolio maturity of two to three years.The fund's portfolio managers focus on identifying undervalued sectors and securities.To select municipal bonds for the fund,the portfolio managers use fundamental credit analysis to estimate the relative value and attractiveness of various sectors and securities and actively trade among various sectors based on their apparent relative values.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.In addition,the fund temporarily may invest in taxable bonds.During such periods,the fund may not achieve its investment objective.Principal Risks An investment in the fund is not a bank deposit.It is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.It is not a complete investment program.The fund's share price fluctuates,sometimes dramatically,which means you could lose money.· Municipal securities risk.The amount of public information available about municipal securities is generally less than that for corporate equities or bonds.Special factors,such as legislative changes,and state and local economic and business developments,may adversely affect the yieldand/or value of the fund's investments in municipal securities. Other factors include the general conditions of the municipal securities market, the size of the particular offering,the maturity of the obligation and the rating of the issue.Changes in economic,business or political conditions relating to a particular municipal project, municipality,or state,territory or possession of the United States in which the fund invests may have an impact on the fund's share price.Interest rate risk.Prices of bonds and other fixed rate fixed-income securities tend to move inversely with changes in interest rates.Typically,a rise in rates will adversely affect fixed-income securities and, accordingly,will cause the value of the fund's investments in these securities to decline.During periods of very low interest rates,which occur from time to time due to market forces or actions of governments and/or their central banks,including the Board of Governors of the Federal Reserve System in the U.S.,the fund may be subject to a greater risk of principal decline from rising interest rates.When interest rates fall,the fund's investments in new securities may be at lower yields and may reduce the fund's income.

Net Asset Value

as of 5:39 PM ET 11/26/2021


  • 1 Week
  • 0.00%
  • 1 Month
  • 0.00%
  • 3 Months
  • -0.61%
  • 1 Yr Return
  • -0.91%
  • 5 Yr Return
  • +1.48%

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 90.75%
Cash 9.25%
Stocks 0.00%
Preferred 0.00%
Convertible 0.00%
Other 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 191.36 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.37 -0.69 -0.45
Beta 0.34 0.36 0.31
R Squared 0.88 0.79 0.70
Std Deviation 1.43 1.57 1.33
Sharpe Ratio 0.74 0.10 n/a

Purchase Information

as of 4:41 PM ET 11/23/2021
Minimum Initial $2500
Minimum Additional $100
Minimum Initial IRA $0


Timeframe Average Annual Current Performance Monthly As Of 11/30/2021 Average Annual Current Performance Quarterly As Of 09/30/2021 Avg Annual Current Performance Monthly As Of 11/30/2021 Avg Annual Current Performance Quarterly As Of 09/30/2021
1 Year
  • 0.00%
  • +0.37%
0.00% +0.37%
3 Year
  • +1.91%
  • +2.06%
+1.91% +2.06%
10 Year
  • +1.15%
  • +1.15%
+1.15% +1.15%
Life Of Fund
  • +3.38%
  • +3.40%
+3.38% +3.40%

Top 10 Holdings

Symbol Company Name % Of Assets


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