Skip to main content

Address And Details

255 Liberty Street , New York, NY 10286
Fund Manager Daniel Rabasco
Manager Tenure 9 Years 10 Months

Strategy And Objective

The Fund seeks to maximize current income exempt from federal income tax and from Pennsylvania 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 Pennsylvania 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 Pennsylvania 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 4:59 PM ET 12/07/2021


  • 1 Week
  • -0.06%
  • 1 Month
  • +0.24%
  • 3 Months
  • -0.54%
  • 1 Yr Return
  • -0.18%
  • 5 Yr Return
  • +2.67%

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 99.35%
Cash 0.65%
Stocks 0.00%
Preferred 0.00%
Convertible 0.00%
Other 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 85.46 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.35 -0.17 -0.24
Beta 1.02 1.00 1.02
R Squared 0.94 0.95 0.95
Std Deviation 4.17 3.99 3.75
Sharpe Ratio 0.96 0.56 n/a

Purchase Information

as of 5:12 PM ET 12/03/2021
Minimum Initial $1000
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
  • +3.06%
  • +3.60%
+3.06% +3.60%
3 Year
  • +4.97%
  • +4.75%
+4.97% +4.75%
10 Year
  • +3.76%
  • +3.69%
+3.76% +3.69%
Life Of Fund
  • +5.37%
  • +5.37%
+5.37% +5.37%

Top 10 Holdings

Symbol Company Name % Of Assets

Recent Articles from TheStreet

22 grizzly bear sh

Stocks Beware, BofA Says: Real Earnings Yield at 74-Year Low

There only have been four historical instances of negative real earnings yield, all of which resulted in bear markets, BofA said.

Caleres Steps Up on Second-Quarter Earnings Beat

Should You React To Quarterly Results?

Be prepared to stick to your guns if the market gets it wrong on your stocks.

Bulls vs. Bears: Cramer's 'Mad Money' Recap (Friday 2/1/19)

Cramer's Mad Money Recap 12/8: Pfizer, Sweetgreen, Edwards Lifesciences

Jim Cramer reminds us the Dow has soared from 1,000 to 35,000 over the course of his career. That's quite a run, despite all the investor negativity.

Paradise Cruise Ship Lead

Can Jimmy Buffett Take On Royal Caribbean and Carnival?

The former Bahamas Paradise cruise line will be rebranded to the singer's Margaritaville brand.


Crypto Faces Biggest Test, Morgan Stanley Says

Bitcoin headwinds as the Federal Reserve signals it is planning several rate hikes in 2022.

VanEck Bitcoin Lead

Money Managers Think Cryptocurrencies Are Due For A Correction Next Year

Don’t look for bitcoin or other digital assets to calm down anytime soon.

Wall Street Lead

Apple, Google, Jefferies Delay Workers' Return to Office

Big employers like Google and Apple are delaying plans to bring workers back to the office, but some banks are bucking that trend.

Why Consumers Aren't Shopping for Christmas Sweaters

Here's Why Supply Chain Struggles Won't Lead to a Blue Christmas for Retailers

Even major retailers including Amazon, Walmart, and Target have struggled to keep certain items in stock.


Instagram Chief Defends Practices Amid Capitol Hill Questioning

Adam Mosseri was in front of Congress Wednesday defending his company's efforts to reduce social media's harm on youth.

China's Credit Risks Are Down In Most Sectors, But Payment Delays Persist In Construction And Energy, Survey Finds

Earnings For Workers Rise As Labor Shortages Continue

With another 4.2 million people across the country quitting their jobs in October, 11 million job openings remained unfilled.