DHMBX vs. DRRIX
DHMBX (BNY Mellon High Yield Municipal Bond Fund) and DRRIX (BNY Mellon Global Real Return Fund - Class I) are both mutual funds - DHMBX is a High Yield Muni fund managed by BNY Mellon, while DRRIX is a Tactical Allocation fund managed by BNY Mellon. Over the past 10 years, DHMBX returned 2.36%/yr vs 4.98%/yr for DRRIX. At a 0.09 correlation, their price movements are largely independent. DHMBX charges 0.69%/yr vs 0.95%/yr for DRRIX.
Performance
DHMBX vs. DRRIX - Performance Comparison
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Returns By Period
In the year-to-date period, DHMBX achieves a 3.32% return, which is significantly lower than DRRIX's 6.09% return. Over the past 10 years, DHMBX has underperformed DRRIX with an annualized return of 2.36%, while DRRIX has yielded a comparatively higher 4.98% annualized return.
DHMBX
- 1D
- 0.09%
- 1M
- 2.07%
- YTD
- 3.32%
- 6M
- 3.89%
- 1Y
- 8.83%
- 3Y*
- 4.64%
- 5Y*
- -0.32%
- 10Y*
- 2.36%
DRRIX
- 1D
- 0.06%
- 1M
- -0.51%
- YTD
- 6.09%
- 6M
- 6.20%
- 1Y
- 17.16%
- 3Y*
- 9.54%
- 5Y*
- 4.48%
- 10Y*
- 4.98%
DHMBX vs. DRRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHMBX BNY Mellon High Yield Municipal Bond Fund | 3.32% | 2.64% | 4.41% | 6.50% | -17.25% | 5.58% | 2.85% | 10.76% | 1.64% | 12.78% |
DRRIX BNY Mellon Global Real Return Fund - Class I | 6.09% | 12.60% | 6.88% | 2.59% | -8.47% | 6.98% | 9.75% | 12.29% | 1.12% | 4.29% |
Correlation
The correlation between DHMBX and DRRIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since May 12, 2010 | 0.09 |
The correlation between DHMBX and DRRIX shifts across timeframes, from 0.09 (all time) to 0.24 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DHMBX vs. DRRIX — Risk / Return Rank
DHMBX
DRRIX
DHMBX vs. DRRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Municipal Bond Fund (DHMBX) and BNY Mellon Global Real Return Fund - Class I (DRRIX). 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.
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 | DRRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.43 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 3.68 | -1.01 |
| Martin ratioReturn relative to average drawdown | 8.73 | 13.26 | -4.53 |
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Drawdowns
DHMBX vs. DRRIX - Drawdown Comparison
The maximum DHMBX drawdown since its inception was -27.66%, which is greater than DRRIX's maximum drawdown of -15.92%. Use the drawdown chart below to compare losses from any high point for DHMBX and DRRIX.
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Drawdown Indicators
| DHMBX | DRRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.66% | -15.92% | -11.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -4.64% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -9.55% | -10.55% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -14.29% | -8.61% |
Max Drawdown (10Y)Largest decline over 10 years | -22.90% | -15.92% | -6.98% |
Current DrawdownCurrent decline from peak | -2.81% | -1.18% | -1.63% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -2.88% | -1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 1.29% | -0.28% |
Volatility
DHMBX vs. DRRIX - Volatility Comparison
The current volatility for BNY Mellon High Yield Municipal Bond Fund (DHMBX) is 1.00%, while BNY Mellon Global Real Return Fund - Class I (DRRIX) has a volatility of 2.46%. This indicates that DHMBX experiences smaller price fluctuations and is considered to be less risky than DRRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHMBX | DRRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 2.46% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 6.06% | -3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 7.47% | -3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 6.94% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 6.74% | -0.68% |
DHMBX vs. DRRIX - Expense Ratio Comparison
DHMBX has a 0.69% expense ratio, which is lower than DRRIX's 0.95% expense ratio.
Dividends
DHMBX vs. DRRIX - Dividend Comparison
DHMBX's dividend yield for the trailing twelve months is around 3.99%, more than DRRIX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHMBX BNY Mellon High Yield Municipal Bond Fund | 3.99% | 5.37% | 3.96% | 3.13% | 3.09% | 2.47% | 3.46% | 4.19% | 4.13% | 3.66% | 4.95% | 4.50% |
DRRIX BNY Mellon Global Real Return Fund - Class I | 3.69% | 3.92% | 4.35% | 0.05% | 9.59% | 1.65% | 1.39% | 2.79% | 3.62% | 0.88% | 2.98% | 4.46% |
Frequently Asked Questions
DHMBX and DRRIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRRIX has higher volatility (2.46%) compared to DHMBX (1.00%). In terms of maximum drawdown, DHMBX dropped -27.66% vs DRRIX's -15.92%.
DHMBX currently has the higher Sharpe Ratio (2.34 vs 2.29), 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.
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