DBMYX vs. DHMBX

Last updated Jun 3, 2026

DBMYX (BNY Mellon Small/Mid Cap Growth Fund Class Y) and DHMBX (BNY Mellon High Yield Municipal Bond Fund) are both mutual funds - DBMYX is a Mid Cap Growth Equities fund tracking the Russell 2500 Growth Index, while DHMBX is a High Yield Muni fund managed by BNY Mellon. Over the past 10 years, DBMYX returned 11.55%/yr vs 2.42%/yr for DHMBX. At a 0.01 correlation, their price movements are largely independent. DBMYX charges 0.63%/yr vs 0.69%/yr for DHMBX.

Performance

DBMYX vs. DHMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Small/Mid Cap Growth Fund Class Y (DBMYX) and BNY Mellon High Yield Municipal Bond Fund (DHMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBMYX achieves a 5.00% return, which is significantly higher than DHMBX's 2.75% return. Over the past 10 years, DBMYX has outperformed DHMBX with an annualized return of 11.55%, while DHMBX has yielded a comparatively lower 2.42% annualized return.

DBMYX

• 1D: -1.89%
• 1M: 0.17%
• YTD: 5.00%
• 6M: 3.56%
• 1Y: 18.30%
• 3Y*: 12.03%
• 5Y*: -0.16%
• 10Y*: 11.55%

DHMBX

• 1D: -0.09%
• 1M: 0.55%
• YTD: 2.75%
• 6M: 3.02%
• 1Y: 8.65%
• 3Y*: 4.61%
• 5Y*: -0.27%
• 10Y*: 2.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBMYX vs. DHMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBMYX BNY Mellon Small/Mid Cap Growth Fund Class Y	5.00%	11.94%	10.09%	15.63%	-33.11%	-4.44%	68.62%	39.27%	-1.35%	26.80%
DHMBX BNY Mellon High Yield Municipal Bond Fund	2.75%	2.64%	4.41%	6.50%	-17.25%	5.58%	2.85%	10.76%	1.64%	12.78%

Correlation

The correlation between DBMYX and DHMBX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.01

The correlation between DBMYX and DHMBX shifts across timeframes, from 0.01 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DBMYX vs. DHMBX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBMYX

DBMYX Risk / Return Rank: 11
DBMYX Sharpe Ratio Rank: 11
DBMYX Sortino Ratio Rank: 12
DBMYX Omega Ratio Rank: 11
DBMYX Calmar Ratio Rank: 9
DBMYX Martin Ratio Rank: 10

DHMBX

DHMBX Risk / Return Rank: 55
DHMBX Sharpe Ratio Rank: 54
DHMBX Sortino Ratio Rank: 66
DHMBX Omega Ratio Rank: 73
DHMBX Calmar Ratio Rank: 44
DHMBX Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBMYX vs. DHMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Small/Mid Cap Growth Fund Class Y (DBMYX) and BNY Mellon High Yield Municipal Bond Fund (DHMBX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DBMYX	DHMBX	Difference
Sharpe ratio Return per unit of total volatility	0.90	2.17	-1.28
Sortino ratio Return per unit of downside risk	1.43	3.39	-1.97
Omega ratio Gain probability vs. loss probability	1.16	1.48	-0.32
Calmar ratio Return relative to maximum drawdown	0.95	2.56	-1.61
Martin ratio Return relative to average drawdown	3.10	8.39	-5.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBMYX vs. DHMBX - Sharpe Ratio Comparison

The current DBMYX Sharpe Ratio is 0.90, which is lower than the DHMBX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DBMYX and DHMBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DBMYX	DHMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.90	2.17	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	-0.04	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.40	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.72	-0.29

Drawdowns

DBMYX vs. DHMBX - Drawdown Comparison

The maximum DBMYX drawdown since its inception was -48.24%, which is greater than DHMBX's maximum drawdown of -27.66%. Use the drawdown chart below to compare losses from any high point for DBMYX and DHMBX.

Drawdown Indicators

	DBMYX	DHMBX	Difference
Max Drawdown Largest peak-to-trough decline	-48.24%	-27.66%	-20.58%
Max Drawdown (1Y) Largest decline over 1 year	-19.58%	-3.33%	-16.25%
Max Drawdown (3Y) Largest decline over 3 years	-25.20%	-9.55%	-15.65%
Max Drawdown (5Y) Largest decline over 5 years	-45.79%	-22.90%	-22.89%
Max Drawdown (10Y) Largest decline over 10 years	-48.24%	-22.90%	-25.34%
Current Drawdown Current decline from peak	-15.40%	-3.35%	-12.05%
Average Drawdown Average peak-to-trough decline	-15.19%	-4.88%	-10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.03%	1.02%	+5.01%

Volatility

DBMYX vs. DHMBX - Volatility Comparison

BNY Mellon Small/Mid Cap Growth Fund Class Y (DBMYX) has a higher volatility of 6.26% compared to BNY Mellon High Yield Municipal Bond Fund (DHMBX) at 1.37%. This indicates that DBMYX's price experiences larger fluctuations and is considered to be riskier than DHMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMYX	DHMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	1.37%	+4.89%
Volatility (6M) Calculated over the trailing 6-month period	16.40%	2.82%	+13.58%
Volatility (1Y) Calculated over the trailing 1-year period	21.11%	3.86%	+17.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.53%	6.16%	+18.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.28%	6.06%	+18.22%

DBMYX vs. DHMBX - Expense Ratio Comparison

DBMYX has a 0.63% expense ratio, which is lower than DHMBX's 0.69% expense ratio.

Dividends

DBMYX vs. DHMBX - Dividend Comparison

DBMYX's dividend yield for the trailing twelve months is around 48.75%, more than DHMBX's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBMYX BNY Mellon Small/Mid Cap Growth Fund Class Y	48.75%	51.19%	0.43%	0.00%	0.00%	8.97%	7.86%	0.00%	8.66%	9.12%	2.20%	6.55%
DHMBX BNY Mellon High Yield Municipal Bond Fund	4.02%	5.37%	3.96%	3.13%	3.09%	2.47%	3.46%	4.19%	4.13%	3.66%	4.95%	4.50%

Frequently Asked Questions

Can I hold both DBMYX and DHMBX in my portfolio?

DBMYX and DHMBX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBMYX or DHMBX?

DBMYX has higher volatility (6.26%) compared to DHMBX (1.37%). In terms of maximum drawdown, DBMYX dropped -48.24% vs DHMBX's -27.66%.

Which has better risk-adjusted returns?

DHMBX currently has the higher Sharpe Ratio (2.17 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.