Address And Details

255 Liberty Street , New York, NY 10286
Fund Manager Thomas Casey
Manager Tenure 10 Years 4 Months

Strategy And Objective

The Fund seeks to maximize current income exempt from federal income tax and from Massachusetts state income tax, without undue risk 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 and Massachusetts state income taxes. 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 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 BNY Mellon Investment Adviser, Inc. For additional yield, the fund may invest up to 30% of its assets in municipal bonds rated below investment grade ("high yield" or "junk" bonds) or the unrated equivalent as determined by BNY Mellon Investment Adviser, Inc. 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 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 and Massachusetts state income taxes, income from some of the fund's holdings may be subject to the federal alternative minimum tax.

Net Asset Value

as of 5:01 PM ET 09/24/2021

Performance

  • 1 Week
  • -0.26%
  • 1 Month
  • -0.76%
  • 3 Months
  • -1.10%
  • 1 Yr Return
  • -1.52%
  • 5 Yr Return
  • -2.01%

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 98.78%
Cash 1.22%
Stocks 0.00%
Preferred 0.00%
Convertible 0.00%
Other 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 10.00 K

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -3.00 -2.57 -2.39
Beta 1.06 1.03 1.12
R Squared 0.98 0.98 0.97
Std Deviation 4.29 4.09 4.09
Sharpe Ratio 0.28 -0.07 n/a

Purchase Information

as of 5:23 PM ET 09/23/2021
Minimum Initial $1000
Minimum Additional $100
Minimum Initial IRA $0

Performance

Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 05/31/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 05/31/2021
1 Year
  • -0.54%
  • +2.21%
-0.54% +2.21%
3 Year
  • +2.20%
  • +2.41%
+2.20% +2.41%
10 Year
  • +2.01%
  • +2.33%
+2.01% +2.33%
Life Of Fund
  • +3.33%
  • +3.39%
+3.33% +3.39%

Top 10 Holdings

Symbol Company Name % Of Assets
n/a

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