BNY Mellon AMT-Free Municipal Bond Fund (DRMBX)
The investment seeks as high a level of current income exempt from federal income tax as is consistent with the preservation of capital. The fund normally invests at least 80% of its net assets in municipal bonds that provide income exempt from the federal alternative minimum tax. It invests at least 65% of its assets in municipal bonds rated, at the time of purchase, A or higher or the unrated equivalent as determined by the sub-adviser.
Fund Info
ISIN | US05588R2085 |
---|---|
CUSIP | 05588R208 |
Issuer | BNY Mellon |
Inception Date | May 5, 1994 |
Category | Municipal Bonds |
Min. Investment | $1,000 |
Asset Class | Bond |
Expense Ratio
DRMBX has a high expense ratio of 0.49%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in BNY Mellon AMT-Free Municipal Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
BNY Mellon AMT-Free Municipal Bond Fund had a return of 0.45% year-to-date (YTD) and 4.64% in the last 12 months. Over the past 10 years, BNY Mellon AMT-Free Municipal Bond Fund had an annualized return of 2.45%, while the S&P 500 had an annualized return of 10.99%, indicating that BNY Mellon AMT-Free Municipal Bond Fund did not perform as well as the benchmark.
Period | Return | Benchmark |
---|---|---|
Year-To-Date | 0.45% | 11.18% |
1 month | 1.01% | 5.60% |
6 months | 4.83% | 17.48% |
1 year | 4.64% | 26.33% |
5 years (annualized) | 1.26% | 13.16% |
10 years (annualized) | 2.45% | 10.99% |
Monthly Returns
The table below presents the monthly returns of DRMBX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | 0.24% | 0.15% | 0.11% | -1.03% | 0.45% | ||||||||
2023 | 2.86% | -2.11% | 1.86% | -0.23% | -0.36% | 0.85% | 0.32% | -1.12% | -2.92% | -1.55% | 6.65% | 2.20% | 6.25% |
2022 | -2.69% | -0.54% | -2.92% | -2.74% | 1.03% | -1.88% | 2.48% | -2.08% | -3.59% | -1.03% | 4.47% | -0.01% | -9.40% |
2021 | 0.72% | -1.58% | 0.61% | 0.86% | 0.43% | 0.32% | 0.64% | -0.29% | -0.78% | -0.18% | 0.79% | 0.09% | 1.60% |
2020 | 1.80% | 1.42% | -4.49% | -1.91% | 3.17% | 1.48% | 1.66% | -0.14% | -0.01% | -0.22% | 1.57% | 0.67% | 4.87% |
2019 | 0.75% | 0.59% | 1.60% | 0.46% | 1.52% | 0.42% | 0.80% | 1.67% | -0.74% | 0.08% | 0.14% | 0.35% | 7.88% |
2018 | -1.01% | -0.49% | 0.24% | -0.32% | 1.27% | 0.16% | 0.18% | 0.17% | -0.65% | -0.61% | 0.68% | 1.13% | 0.74% |
2017 | 0.43% | 0.75% | 0.28% | 0.75% | 1.65% | -0.30% | 0.68% | 0.82% | -0.39% | 0.12% | -0.33% | 1.03% | 5.62% |
2016 | 1.18% | 0.07% | 0.41% | 0.81% | 0.41% | 1.77% | -0.24% | 0.21% | -0.58% | -1.06% | -4.16% | 1.22% | -0.09% |
2015 | 1.99% | -1.19% | 0.38% | -0.49% | -0.35% | -0.11% | 0.80% | 0.36% | 0.65% | 0.43% | 0.57% | 0.85% | 3.93% |
2014 | 2.10% | 1.58% | 0.19% | 1.35% | 1.70% | -0.05% | 0.18% | 1.46% | 0.14% | 0.72% | 0.14% | 0.61% | 10.56% |
2013 | 0.57% | 0.40% | -0.40% | 1.04% | -1.24% | -2.97% | -1.00% | -1.96% | 2.23% | 0.95% | -0.32% | -0.75% | -3.50% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of DRMBX is 37, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
DRMBX (BNY Mellon AMT-Free Municipal Bond Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for BNY Mellon AMT-Free Municipal Bond Fund (DRMBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
BNY Mellon AMT-Free Municipal Bond Fund granted a 2.89% dividend yield in the last twelve months. The annual payout for that period amounted to $0.39 per share.
Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dividend | $0.39 | $0.38 | $0.32 | $0.33 | $0.35 | $0.42 | $0.41 | $0.43 | $0.45 | $0.49 | $0.53 | $0.52 |
Dividend yield | 2.89% | 2.80% | 2.48% | 2.27% | 2.38% | 2.88% | 2.96% | 3.07% | 3.25% | 3.47% | 3.71% | 3.88% |
Monthly Dividends
The table displays the monthly dividend distributions for BNY Mellon AMT-Free 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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.13 | |||||||
2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
2022 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
2021 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.05 | $0.33 |
2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
2019 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.42 |
2018 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.41 |
2017 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.43 |
2016 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.45 |
2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
2014 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.53 |
2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.52 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the BNY Mellon AMT-Free 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 AMT-Free Municipal Bond Fund was 14.14%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current BNY Mellon AMT-Free Municipal Bond Fund drawdown is 3.66%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
---|---|---|---|---|---|---|
-14.14% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
-12.24% | Jan 24, 2008 | 226 | Dec 15, 2008 | 107 | May 20, 2009 | 333 |
-11.81% | Mar 10, 2020 | 9 | Mar 20, 2020 | 98 | Aug 10, 2020 | 107 |
-8.28% | Apr 13, 1999 | 204 | Jan 24, 2000 | 133 | Aug 3, 2000 | 337 |
-7.86% | Oct 15, 2010 | 65 | Jan 18, 2011 | 134 | Jul 29, 2011 | 199 |
Volatility
Volatility Chart
The current BNY Mellon AMT-Free Municipal Bond Fund volatility is 0.70%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.