DISSX vs. DRMBX

Last updated Jun 4, 2026

DISSX (BNY Mellon Smallcap Stock Index Fund) and DRMBX (BNY Mellon AMT-Free Municipal Bond Fund) are both mutual funds - DISSX is a Small Cap Blend Equities fund managed by BNY Mellon, while DRMBX is a Municipal Bonds fund managed by BNY Mellon. Over the past 10 years, DISSX returned 10.07%/yr vs 2.14%/yr for DRMBX. At a correlation of -0.09, they often move in opposite directions. DISSX charges 0.50%/yr vs 0.49%/yr for DRMBX.

Performance

DISSX vs. DRMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Smallcap Stock Index Fund (DISSX) and BNY Mellon AMT-Free Municipal Bond Fund (DRMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DISSX achieves a 16.16% return, which is significantly higher than DRMBX's 1.97% return. Over the past 10 years, DISSX has outperformed DRMBX with an annualized return of 10.07%, while DRMBX has yielded a comparatively lower 2.14% annualized return.

DISSX

• 1D: 0.90%
• 1M: 2.55%
• YTD: 16.16%
• 6M: 14.84%
• 1Y: 32.05%
• 3Y*: 13.35%
• 5Y*: 4.92%
• 10Y*: 10.07%

DRMBX

• 1D: 0.15%
• 1M: 0.83%
• YTD: 1.97%
• 6M: 2.36%
• 1Y: 8.02%
• 3Y*: 4.15%
• 5Y*: 0.94%
• 10Y*: 2.14%

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

DISSX vs. DRMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DISSX BNY Mellon Smallcap Stock Index Fund	16.16%	5.41%	6.87%	14.24%	-16.71%	26.41%	10.92%	22.28%	-8.30%	12.40%
DRMBX BNY Mellon AMT-Free Municipal Bond Fund	1.97%	4.47%	2.37%	5.93%	-9.77%	1.26%	4.86%	8.34%	0.74%	5.62%

Correlation

The correlation between DISSX and DRMBX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Jul 1, 1997	-0.09

The correlation between DISSX and DRMBX shifts across timeframes, from -0.09 (all time) to 0.14 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

DISSX vs. DRMBX — Risk / Return Rank

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

DISSX

DISSX Risk / Return Rank: 56
DISSX Sharpe Ratio Rank: 45
DISSX Sortino Ratio Rank: 45
DISSX Omega Ratio Rank: 39
DISSX Calmar Ratio Rank: 84
DISSX Martin Ratio Rank: 68

DRMBX

DRMBX Risk / Return Rank: 76
DRMBX Sharpe Ratio Rank: 85
DRMBX Sortino Ratio Rank: 91
DRMBX Omega Ratio Rank: 94
DRMBX Calmar Ratio Rank: 56
DRMBX Martin Ratio Rank: 52

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.

DISSX vs. DRMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Smallcap Stock Index Fund (DISSX) and BNY Mellon AMT-Free Municipal Bond Fund (DRMBX). 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.

	DISSX	DRMBX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.77	-0.82
Sortino ratio: Return per unit of downside risk	2.83	4.44	-1.61
Omega ratio: Gain probability vs. loss probability	1.34	1.73	-0.39
Calmar ratio: Return relative to maximum drawdown	3.93	2.87	+1.06
Martin ratio: Return relative to average drawdown	13.11	10.53	+2.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DISSX vs. DRMBX - Sharpe Ratio Comparison

The current DISSX Sharpe Ratio is 1.96, which is comparable to the DRMBX Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of DISSX and DRMBX, 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

	DISSX	DRMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	2.77	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.24	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.53	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	1.15	-0.74

Drawdowns

DISSX vs. DRMBX - Drawdown Comparison

The maximum DISSX drawdown since its inception was -58.30%, which is greater than DRMBX's maximum drawdown of -14.48%. Use the drawdown chart below to compare losses from any high point for DISSX and DRMBX.

Drawdown Indicators

	DISSX	DRMBX	Difference
Max Drawdown Largest peak-to-trough decline	-58.30%	-14.48%	-43.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.75%	-2.81%	-5.94%
Max Drawdown (3Y) Largest decline over 3 years	-29.02%	-6.26%	-22.76%
Max Drawdown (5Y) Largest decline over 5 years	-29.02%	-14.48%	-14.54%
Max Drawdown (10Y) Largest decline over 10 years	-44.45%	-14.48%	-29.97%
Current Drawdown Current decline from peak	-0.04%	-0.02%	-0.02%
Average Drawdown Average peak-to-trough decline	-9.57%	-1.98%	-7.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	0.76%	+1.86%

Volatility

DISSX vs. DRMBX - Volatility Comparison

BNY Mellon Smallcap Stock Index Fund (DISSX) has a higher volatility of 4.49% compared to BNY Mellon AMT-Free Municipal Bond Fund (DRMBX) at 1.15%. This indicates that DISSX's price experiences larger fluctuations and is considered to be riskier than DRMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DISSX	DRMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	1.15%	+3.34%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	2.16%	+9.57%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	2.92%	+14.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.49%	4.00%	+17.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.17%	4.04%	+19.13%

DISSX vs. DRMBX - Expense Ratio Comparison

DISSX has a 0.50% expense ratio, which is higher than DRMBX's 0.49% expense ratio.

Dividends

DISSX vs. DRMBX - Dividend Comparison

DISSX's dividend yield for the trailing twelve months is around 13.28%, more than DRMBX's 3.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DISSX BNY Mellon Smallcap Stock Index Fund	13.28%	15.42%	14.79%	8.20%	13.87%	10.72%	7.61%	8.35%	13.18%	7.40%	6.49%	11.30%
DRMBX BNY Mellon AMT-Free Municipal Bond Fund	3.40%	4.30%	3.02%	2.30%	2.06%	1.93%	2.37%	3.30%	2.95%	3.07%	3.24%	3.47%

Frequently Asked Questions

Can I hold both DISSX and DRMBX in my portfolio?

DISSX and DRMBX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DISSX or DRMBX?

DISSX has higher volatility (4.49%) compared to DRMBX (1.15%). In terms of maximum drawdown, DISSX dropped -58.30% vs DRMBX's -14.48%.

Which has better risk-adjusted returns?

DRMBX currently has the higher Sharpe Ratio (2.77 vs 1.96), 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.