- ISIN
- US05589Q1004
- CUSIP
- 05589Q100
- Issuer
- T. Rowe Price
- Inception Date
- Jan 18, 1984
- Category
- Large Cap Growth Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
DGAGX Performance Chart
BNY Mellon Appreciation Fund, Inc. (DGAGX) is up 2.6% since the beginning of the year. DGAGX is currently trading at $36 per share. Investors who bought $1,000 worth of DGAGX shares 5 years ago would now be looking at an investment worth $1,442.
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Returns By Period
BNY Mellon Appreciation Fund, Inc. (DGAGX) has returned 2.59% so far this year and 11.25% over the past 12 months. Over the last ten years, DGAGX has returned 12.78% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
BNY Mellon Appreciation Fund, Inc.
- 1D
- 1.19%
- 1M
- -1.65%
- YTD
- 2.59%
- 6M
- 2.77%
- 1Y
- 11.25%
- 3Y*
- 10.94%
- 5Y*
- 7.59%
- 10Y*
- 12.78%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DGAGX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1986, DGAGX's average daily return is +0.05%, while the average monthly return is +0.95%. At this rate, an investment would double in approximately 6.1 years.
Historically, 65% of months were positive and 35% were negative. The best month was Dec 1991 with a return of +16.6%, while the worst month was Oct 1987 at -25.6%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 5 months.
On a daily basis, DGAGX closed higher 53% of trading days. The best single day was Dec 18, 1987 with a return of +12.8%, while the worst single day was Oct 19, 1987 at -19.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.93% | -1.98% | -5.42% | 9.19% | 2.75% | -2.27% | 2.59% | ||||||
| 2025 | 2.73% | -0.02% | -5.83% | -1.22% | 6.41% | 3.50% | 0.17% | 0.90% | 2.23% | 1.33% | -0.40% | 0.37% | 10.14% |
| 2024 | 1.86% | 3.16% | 1.54% | -3.37% | 3.54% | 3.69% | 0.68% | 2.80% | -0.36% | -2.56% | 4.28% | -3.14% | 12.35% |
| 2023 | 5.55% | -4.29% | 5.27% | 3.48% | -1.80% | 5.70% | 2.35% | -1.09% | -4.55% | -1.08% | 7.66% | 3.24% | 21.37% |
| 2022 | -6.34% | -4.88% | 3.46% | -8.11% | 0.20% | -7.96% | 9.36% | -4.16% | -10.29% | 8.69% | 7.12% | -3.94% | -17.86% |
| 2021 | -2.59% | 2.27% | 4.25% | 6.48% | 0.55% | 3.12% | 3.58% | 2.58% | -5.96% | 7.33% | -0.83% | 4.22% | 27.10% |
Benchmark Metrics
BNY Mellon Appreciation Fund, Inc. has an annualized alpha of 2.76%, beta of 0.86, and R2 of 0.86 versus S&P 500 Index. Calculated based on daily prices since January 02, 1986.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (95.54%) than losses (88.00%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.76% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 0.86 and R2 of 0.86, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.76%
- Beta
- 0.86
- R²
- 0.86
- Upside Capture
- 95.54%
- Downside Capture
- 88.00%
Expense Ratio
DGAGX has an expense ratio of 0.88%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DGAGX ranks 12 for risk / return — in the bottom 12% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BNY Mellon Appreciation Fund, Inc. (DGAGX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DGAGX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 2.78 | -1.82 |
| Martin ratioReturn relative to average drawdown | 3.75 | 12.44 | -8.69 |
Dividends
Dividend History
BNY Mellon Appreciation Fund, Inc. provided a 19.64% dividend yield over the last twelve months, with an annual payout of $7.03 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $7.03 | $7.49 | $6.75 | $3.03 | $3.31 | $1.88 | $2.08 | $3.54 | $6.02 | $5.83 | $9.08 | $12.74 |
Dividend yield | 19.64% | 21.12% | 17.23% | 7.44% | 9.16% | 3.91% | 5.29% | 10.52% | 21.70% | 16.17% | 27.17% | 31.89% |
Monthly Dividends
The table displays the monthly dividend distributions for BNY Mellon Appreciation Fund, Inc.. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.00 | $0.50 | ||||||
| 2025 | $0.00 | $0.00 | $0.96 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $6.47 | $7.49 |
| 2024 | $0.00 | $0.00 | $1.06 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $5.62 | $6.75 |
| 2023 | $0.00 | $0.00 | $0.86 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $2.04 | $3.03 |
| 2022 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $2.78 | $3.31 |
| 2021 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $1.64 | $1.88 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the BNY Mellon Appreciation Fund, Inc.. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the BNY Mellon Appreciation Fund, Inc. was 48.80%, occurring on Mar 5, 2009. Recovery took 542 trading sessions.
The current BNY Mellon Appreciation Fund, Inc. drawdown is 2.64%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -48.80%Mar 2009 | 1y 4mo | 2y 1mo | 3y 6moOct 2007 - Apr 2011 |
2003 bear market2003 | -35.67%Mar 2003 | 2y 6mo | 3y 5mo | 5y 11moAug 2000 - Aug 2006 |
Black Monday1987 | -34.73%Oct 1987 | 22d | 1y 7mo | 1y 8moOct 1987 - Jun 1989 |
COVID crash2020 | -31.99%Mar 2020 | 1mo 2d | 3mo 29d | 5mo 1dFeb 2020 - Jul 2020 |
Bear market2022 | -27.13%Sep 2022 | 9mo 6d | 1y 3mo | 2y 27dDec 2021 - Jan 2024 |
Drawdown Indicators
| DGAGX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.80% | -56.78% | +7.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.21% | -9.10% | -2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -18.90% | +1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -27.13% | -25.43% | -1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -31.99% | -33.92% | +1.93% |
Current DrawdownCurrent decline from peak | -2.64% | -1.80% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -7.12% | -10.71% | +3.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 2.03% | +0.84% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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