BNY Mellon Municipal Bond Fund (DRTAX)
The investment seeks to maximize current income exempt from federal income tax, to the extent consistent with the preservation of capital. The fund normally invests substantially all of its net assets in municipal bonds that provide income exempt from federal income tax. It invests at least 75% 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. The dollar-weighted average maturity of the fund's portfolio normally exceeds ten years, but the fund may invest without regard to maturity.
Fund Info
| ISIN | US05588B1044 |
|---|---|
| CUSIP | 05588B104 |
| Issuer | BNY Mellon |
| Inception Date | Oct 3, 1976 |
| Category | Municipal Bonds |
| Min. Investment | $2,500 |
| Asset Class | Bond |
Expense Ratio
DRTAX features an expense ratio of 0.73%, falling within the medium range.
Share Price Chart
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Popular comparisons: DRTAX vs. FDMMX
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in BNY Mellon 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
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | N/A | 25.48% |
| 1 month | N/A | 2.14% |
| 6 months | N/A | 12.76% |
| 1 year | N/A | 33.14% |
| 5 years (annualized) | N/A | 13.96% |
| 10 years (annualized) | N/A | 11.39% |
Monthly Returns
The table below presents the monthly returns of DRTAX, 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 | 0.30% | 0.04% | 0.43% | ||||||||||
| 2023 | 2.81% | -2.20% | 1.85% | -0.19% | -0.19% | 0.89% | 0.14% | -1.07% | -2.94% | -1.56% | 6.54% | 2.25% | 6.14% |
| 2022 | -2.56% | -0.68% | -3.00% | -2.93% | 1.14% | -2.07% | 2.63% | -2.23% | -3.80% | -1.22% | 4.58% | -0.06% | -10.05% |
| 2021 | 0.80% | -1.54% | 0.72% | 0.94% | 0.51% | 0.37% | 0.68% | -0.37% | -0.80% | -0.23% | 0.86% | 0.09% | 2.01% |
| 2020 | 1.81% | 1.52% | -5.15% | -2.10% | 3.12% | 1.68% | 1.65% | -0.04% | 0.04% | -0.21% | 1.72% | 0.81% | 4.67% |
| 2019 | 0.69% | 0.56% | 1.61% | 0.50% | 1.52% | 0.38% | 0.75% | 1.72% | -0.77% | 0.06% | 0.21% | 0.31% | 7.78% |
| 2018 | -1.09% | -0.46% | 0.23% | -0.27% | 1.29% | 0.07% | 0.28% | 0.10% | -0.73% | -0.61% | 0.59% | 0.95% | 0.30% |
| 2017 | 0.54% | 0.76% | 0.27% | 0.67% | 1.74% | -0.26% | 0.60% | 0.84% | -0.27% | 0.08% | -0.36% | 0.72% | 5.45% |
| 2016 | 1.10% | 0.02% | 0.52% | 0.84% | 0.27% | 1.74% | -0.17% | 0.27% | -0.49% | -1.15% | -4.20% | 1.13% | -0.26% |
| 2015 | 1.87% | -1.25% | 0.37% | -0.57% | -0.33% | -0.22% | 0.89% | 0.28% | 0.61% | 0.52% | 0.53% | 0.87% | 3.59% |
| 2014 | 2.14% | 1.62% | 0.23% | 1.35% | 1.86% | -0.14% | -0.06% | 1.49% | 0.09% | 0.70% | 0.09% | 0.73% | 10.52% |
| 2013 | 0.50% | 0.39% | -0.25% | 1.00% | -1.25% | -3.04% | -1.11% | -1.91% | 2.23% | 0.87% | -0.39% | -0.53% | -3.54% |
Risk-Adjusted Performance
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for BNY Mellon Municipal Bond Fund (DRTAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
BNY Mellon Municipal Bond Fund provided a 1.17% dividend yield over the last twelve months, with an annual payout of $0.13 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.13 | $0.30 | $0.28 | $0.35 | $0.37 | $0.41 | $0.34 | $0.33 | $0.37 | $0.39 | $0.40 | $0.39 |
Dividend yield | 1.17% | 2.22% | 2.12% | 2.36% | 2.44% | 2.79% | 2.40% | 2.26% | 2.59% | 2.63% | 2.75% | 2.86% |
Monthly Dividends
The table displays the monthly dividend distributions for BNY Mellon 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 | $0.02 | $0.03 | $0.08 | |||||||||
| 2023 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2021 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.10 | $0.35 |
| 2020 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.09 | $0.37 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.12 | $0.41 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.33 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.39 |
| 2014 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.40 |
| 2013 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.39 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the BNY Mellon 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 Municipal Bond Fund was 14.88%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -14.88% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -13.85% | Mar 9, 1987 | 159 | Oct 15, 1987 | 97 | Feb 29, 1988 | 256 |
| -13.76% | Oct 18, 1993 | 286 | Nov 21, 1994 | 140 | Jun 5, 1995 | 426 |
| -13.47% | Jan 24, 2008 | 227 | Dec 16, 2008 | 169 | Aug 19, 2009 | 396 |
| -11.87% | Mar 10, 2020 | 9 | Mar 20, 2020 | 170 | Nov 19, 2020 | 179 |
Volatility
Volatility Chart
The current BNY Mellon Municipal Bond Fund volatility is 0.65%, 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.