- ISIN
- US05588R8512
- CUSIP
- 05588R851
- Issuer
- BNY Mellon
- Inception Date
- Sep 29, 2005
- Category
- High Yield Muni
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
DHMBX Performance Chart
BNY Mellon High Yield Municipal Bond Fund (DHMBX) is up 1.9% since the beginning of the year. DHMBX is currently trading at $11 per share. Investors who bought $1,000 worth of DHMBX shares 5 years ago would now be looking at an investment worth $958.
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Returns By Period
BNY Mellon High Yield Municipal Bond Fund (DHMBX) has returned 1.85% so far this year and 8.00% over the past 12 months. Over the last ten years, DHMBX has returned 2.12% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
BNY Mellon High Yield Municipal Bond Fund
- 1D
- -0.38%
- 1M
- -2.31%
- 6M
- 1.02%
- YTD
- 1.85%
- 1Y
- 8.00%
- 3Y*
- 3.85%
- 5Y*
- -0.85%
- 10Y*
- 2.12%
- ALL TIME*
- 3.56%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
DHMBX Monthly Returns History
Based on dividend-adjusted daily data since Sep 30, 2005, DHMBX's average daily return is +0.01%, while the average monthly return is +0.32%. At this rate, an investment would double in approximately 18.1 years.
Historically, 69% of months were positive and 31% were negative. The best month was Nov 2023 with a return of +8.8%, while the worst month was Mar 2020 at -12.2%. The longest winning streak lasted 19 consecutive months, and the longest losing streak was 4 months.
On a daily basis, DHMBX closed higher 41% of trading days. The best single day was Mar 25, 2020 with a return of +4.6%, while the worst single day was Mar 19, 2020 at -5.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.83% | 2.00% | -2.37% | 1.77% | 0.64% | 1.38% | -2.31% | 1.85% | |||||
| 2025 | 0.71% | 1.73% | -2.57% | -1.70% | -0.79% | 0.63% | -1.58% | 0.67% | 3.98% | 1.70% | 0.31% | -0.30% | 2.64% |
| 2024 | 0.52% | 0.77% | 0.18% | -1.97% | 0.63% | 2.43% | 0.97% | 0.35% | 1.74% | -1.73% | 2.41% | -1.84% | 4.41% |
| 2023 | 4.34% | -3.37% | 1.65% | 0.38% | -0.87% | 1.65% | 0.13% | -1.97% | -4.17% | -2.80% | 8.79% | 3.29% | 6.50% |
| 2022 | -3.35% | -0.97% | -4.24% | -4.19% | 1.20% | -4.18% | 3.91% | -2.68% | -6.74% | -2.68% | 6.64% | -0.71% | -17.25% |
| 2021 | 1.81% | -1.70% | 1.10% | 1.36% | 1.09% | 1.18% | 1.07% | -0.51% | -1.14% | -0.39% | 1.41% | 0.24% | 5.58% |
Benchmark Metrics
BNY Mellon High Yield Municipal Bond Fund has an annualized alpha of 3.64%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since September 30, 2005.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (21.16%) than losses (19.29%) - typical of diversified or defensive assets.
- Beta of 0.01 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.64%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 21.16%
- Downside Capture
- 19.29%
Expense Ratio
DHMBX has an expense ratio of 0.69%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DHMBX ranks 88 for risk / return — above 88% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for BNY Mellon High Yield Municipal Bond Fund (DHMBX) 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.
| DHMBX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.25 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 2.00 | +0.76 |
| Martin ratioReturn relative to average drawdown | 10.31 | 8.49 | +1.82 |
Dividends
Dividend History
BNY Mellon High Yield Municipal Bond Fund provided a 3.75% dividend yield over the last twelve months, with an annual payout of $0.40 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.40 | $0.57 | $0.43 | $0.34 | $0.33 | $0.32 | $0.44 | $0.54 | $0.50 | $0.45 | $0.56 | $0.53 |
Dividend yield | 3.75% | 5.37% | 3.96% | 3.13% | 3.09% | 2.47% | 3.46% | 4.19% | 4.13% | 3.66% | 4.95% | 4.50% |
Monthly Dividends
The table displays the monthly dividend distributions for BNY Mellon High Yield Municipal Bond Fund. 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 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.00 | $0.22 | |||||
| 2025 | $0.08 | $0.07 | $0.07 | $0.07 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.57 |
| 2024 | $0.04 | $0.03 | $0.00 | $0.03 | $0.04 | $0.00 | $0.04 | $0.04 | $0.03 | $0.04 | $0.07 | $0.07 | $0.43 |
| 2023 | $0.04 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.00 | $0.03 | $0.00 | $0.03 | $0.04 | $0.34 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.00 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2021 | $0.00 | $0.00 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
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 High Yield Municipal Bond Fund. 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 High Yield Municipal Bond Fund was 27.66%, occurring on Dec 17, 2008. Recovery took 363 trading sessions.
The current BNY Mellon High Yield Municipal Bond Fund drawdown is 4.19%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-27.66%Dec 2008 | 1y 7mo | 1y 5mo | 3y 15dMay 2007 - May 2010 | Financial crisis2007–2009 |
-22.90%Oct 2022 | 1y 2mo | — | 4y 12moAug 2021 - now | Bear market2022 |
-19.61%Mar 2020 | 21d | 10mo 4d | 10mo 25dMar 2020 - Jan 2021 | COVID crash2020 |
-12.13%Sep 2013 | 4mo 3d | 1y 22d | 1y 4moMay 2013 - Oct 2014 | — |
-9.32%Dec 2016 | 3mo 4d | 5mo 27d | 9mo 1dSep 2016 - May 2017 | — |
Drawdown Indicators
| DHMBX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.66% | -56.78% | +29.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -9.10% | +5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -8.64% | -18.90% | +10.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -25.43% | +2.53% |
Max Drawdown (10Y)Largest decline over 10 years | -22.90% | -33.92% | +11.02% |
Current DrawdownCurrent decline from peak | -4.19% | -1.58% | -2.61% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -10.70% | +5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.14% | -1.25% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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