DITEX vs. DNLAX

Last updated Jun 24, 2026

DITEX (BNY Mellon Intermediate Municipal Bond Fund) and DNLAX (BNY Mellon Natural Resources Fund Class A) are both mutual funds - DITEX is a Municipal Bonds fund managed by BNY Mellon, while DNLAX is a Energy Equities fund managed by BNY Mellon. Over the past 10 years, DITEX returned 1.83%/yr vs 13.19%/yr for DNLAX. At a correlation of -0.10, they often move in opposite directions. DITEX charges 0.72%/yr vs 1.14%/yr for DNLAX.

Performance

DITEX vs. DNLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Intermediate Municipal Bond Fund (DITEX) and BNY Mellon Natural Resources Fund Class A (DNLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DITEX achieves a 1.15% return, which is significantly lower than DNLAX's 18.41% return. Over the past 10 years, DITEX has underperformed DNLAX with an annualized return of 1.83%, while DNLAX has yielded a comparatively higher 13.19% annualized return.

DITEX

• 1D: -0.08%
• 1M: 1.20%
• YTD: 1.15%
• 6M: 1.49%
• 1Y: 6.04%
• 3Y*: 3.81%
• 5Y*: 1.05%
• 10Y*: 1.83%

DNLAX

• 1D: 0.45%
• 1M: -4.71%
• YTD: 18.41%
• 6M: 17.56%
• 1Y: 37.54%
• 3Y*: 14.02%
• 5Y*: 15.52%
• 10Y*: 13.19%

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

DITEX vs. DNLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DITEX BNY Mellon Intermediate Municipal Bond Fund	1.15%	5.56%	1.21%	5.35%	-7.61%	0.43%	4.29%	7.35%	0.78%	4.40%
DNLAX BNY Mellon Natural Resources Fund Class A	18.41%	14.75%	0.86%	1.33%	33.83%	38.00%	6.30%	16.33%	-17.78%	13.69%

Correlation

The correlation between DITEX and DNLAX is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Oct 31, 2003	-0.10

The correlation between DITEX and DNLAX shifts across timeframes, from -0.10 (all time) to 0.04 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DITEX vs. DNLAX — Risk / Return Rank

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

DITEX

DITEX Risk / Return Rank: 68
DITEX Sharpe Ratio Rank: 90
DITEX Sortino Ratio Rank: 92
DITEX Omega Ratio Rank: 94
DITEX Calmar Ratio Rank: 33
DITEX Martin Ratio Rank: 30

DNLAX

DNLAX Risk / Return Rank: 61
DNLAX Sharpe Ratio Rank: 49
DNLAX Sortino Ratio Rank: 43
DNLAX Omega Ratio Rank: 42
DNLAX Calmar Ratio Rank: 92
DNLAX Martin Ratio Rank: 78

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.

DITEX vs. DNLAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Intermediate Municipal Bond Fund (DITEX) and BNY Mellon Natural Resources Fund Class A (DNLAX). 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.

	DITEX	DNLAX	Difference
Sharpe ratio: Return per unit of total volatility	2.75	1.90	+0.85
Sortino ratio: Return per unit of downside risk	4.23	2.53	+1.70
Omega ratio: Gain probability vs. loss probability	1.71	1.32	+0.39
Calmar ratio: Return relative to maximum drawdown	2.06	4.71	-2.65
Martin ratio: Return relative to average drawdown	6.55	13.73	-7.17

DITEX vs. DNLAX - Sharpe Ratio Comparison

The current DITEX Sharpe Ratio is 2.75, which is higher than the DNLAX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of DITEX and DNLAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DITEX vs. DNLAX - Drawdown Comparison

The maximum DITEX drawdown since its inception was -12.03%, smaller than the maximum DNLAX drawdown of -69.14%. Use the drawdown chart below to compare losses from any high point for DITEX and DNLAX.

Drawdown Indicators

	DITEX	DNLAX	Difference
Max Drawdown Largest peak-to-trough decline	-12.03%	-69.14%	+57.11%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-7.67%	+4.68%
Max Drawdown (3Y) Largest decline over 3 years	-4.35%	-32.37%	+28.02%
Max Drawdown (5Y) Largest decline over 5 years	-11.99%	-32.37%	+20.38%
Max Drawdown (10Y) Largest decline over 10 years	-11.99%	-54.45%	+42.46%
Current Drawdown Current decline from peak	-1.02%	-7.25%	+6.23%
Average Drawdown Average peak-to-trough decline	-1.92%	-21.51%	+19.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	2.63%	-1.69%

Volatility

DITEX vs. DNLAX - Volatility Comparison

The current volatility for BNY Mellon Intermediate Municipal Bond Fund (DITEX) is 0.65%, while BNY Mellon Natural Resources Fund Class A (DNLAX) has a volatility of 6.55%. This indicates that DITEX experiences smaller price fluctuations and is considered to be less risky than DNLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DITEX	DNLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	6.55%	-5.90%
Volatility (6M) Calculated over the trailing 6-month period	1.80%	14.35%	-12.55%
Volatility (1Y) Calculated over the trailing 1-year period	2.24%	19.05%	-16.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.11%	25.65%	-22.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	25.54%	-22.15%

DITEX vs. DNLAX - Expense Ratio Comparison

DITEX has a 0.72% expense ratio, which is lower than DNLAX's 1.14% expense ratio.

Dividends

DITEX vs. DNLAX - Dividend Comparison

DITEX's dividend yield for the trailing twelve months is around 2.91%, more than DNLAX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DITEX BNY Mellon Intermediate Municipal Bond Fund	2.91%	3.46%	2.86%	2.38%	2.11%	2.03%	2.51%	3.38%	3.47%	2.99%	3.69%	3.32%
DNLAX BNY Mellon Natural Resources Fund Class A	1.85%	2.19%	7.75%	12.54%	9.80%	5.04%	0.91%	1.95%	1.53%	0.40%	1.26%	0.98%

Frequently Asked Questions

Can I hold both DITEX and DNLAX in my portfolio?

DITEX and DNLAX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DITEX or DNLAX?

DNLAX has higher volatility (6.55%) compared to DITEX (0.65%). In terms of maximum drawdown, DITEX dropped -12.03% vs DNLAX's -69.14%.

Which has better risk-adjusted returns?

DITEX currently has the higher Sharpe Ratio (2.75 vs 1.90), 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.