DNLAX vs. DHMBX
DNLAX (BNY Mellon Natural Resources Fund Class A) and DHMBX (BNY Mellon High Yield Municipal Bond Fund) are both mutual funds - DNLAX is a Energy Equities fund managed by BNY Mellon, while DHMBX is a High Yield Muni fund managed by BNY Mellon. Over the past 10 years, DNLAX returned 12.94%/yr vs 2.12%/yr for DHMBX. Their -0.10 correlation means they have often moved in opposite directions in the past. DNLAX charges 1.14%/yr vs 0.69%/yr for DHMBX.
Performance
DNLAX vs. DHMBX - Performance Comparison
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Returns By Period
In the year-to-date period, DNLAX achieves a 22.39% return, which is significantly higher than DHMBX's 1.85% return. Over the past 10 years, DNLAX has outperformed DHMBX with an annualized return of 12.94%, while DHMBX has yielded a comparatively lower 2.12% annualized return.
DNLAX
- 1D
- 1.69%
- 1M
- 6.69%
- 6M
- 8.33%
- YTD
- 22.39%
- 1Y
- 44.28%
- 3Y*
- 10.09%
- 5Y*
- 17.71%
- 10Y*
- 12.94%
- ALL TIME*
- 10.09%
DHMBX
- 1D
- -0.38%
- 1M
- -2.31%
- 6M
- 1.02%
- YTD
- 1.85%
- 1Y
- 8.00%
- 3Y*
- 3.85%
- 5Y*
- -0.85%
- 10Y*
- 2.12%
- ALL TIME*
- 3.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DNLAX vs. DHMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DNLAX BNY Mellon Natural Resources Fund Class A | 22.39% | 14.75% | 0.86% | 1.33% | 33.83% | 38.00% | 6.30% | 16.33% | -17.78% | 13.69% |
DHMBX BNY Mellon High Yield Municipal Bond Fund | 1.85% | 2.64% | 4.41% | 6.50% | -17.25% | 5.58% | 2.85% | 10.76% | 1.64% | 12.78% |
Correlation
The correlation between DNLAX and DHMBX is 0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2005 | -0.10 |
The correlation between DNLAX and DHMBX shifts across timeframes, from -0.10 (all time) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DNLAX vs. DHMBX — Risk / Return Rank
DNLAX
DHMBX
DNLAX vs. DHMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Natural Resources Fund Class A (DNLAX) 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.
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.
| DNLAX | DHMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.54 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 2.76 | +0.82 |
| Martin ratioReturn relative to average drawdown | 11.26 | 10.31 | +0.95 |
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Drawdowns
DNLAX vs. DHMBX - Drawdown Comparison
The maximum DNLAX drawdown since its inception was -69.14%, which is greater than DHMBX's maximum drawdown of -27.66%. Use the drawdown chart below to compare losses from any high point for DNLAX and DHMBX.
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Drawdown Indicators
| DNLAX | DHMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.14% | -27.66% | -41.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.28% | -3.33% | -7.95% |
Max Drawdown (3Y)Largest decline over 3 years | -32.37% | -8.64% | -23.73% |
Max Drawdown (5Y)Largest decline over 5 years | -32.37% | -22.90% | -9.47% |
Max Drawdown (10Y)Largest decline over 10 years | -54.45% | -22.90% | -31.55% |
Current DrawdownCurrent decline from peak | -4.13% | -4.19% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -21.45% | -4.86% | -16.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.61% | 0.89% | +2.72% |
Volatility
DNLAX vs. DHMBX - Volatility Comparison
BNY Mellon Natural Resources Fund Class A (DNLAX) has a higher volatility of 4.53% compared to BNY Mellon High Yield Municipal Bond Fund (DHMBX) at 1.05%. This indicates that DNLAX'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.
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Volatility by Period
| DNLAX | DHMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 1.05% | +3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 2.96% | +11.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 3.80% | +15.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.47% | 6.18% | +19.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.49% | 6.06% | +19.43% |
DNLAX vs. DHMBX - Expense Ratio Comparison
DNLAX has a 1.14% expense ratio, which is higher than DHMBX's 0.69% expense ratio.
Dividends
DNLAX vs. DHMBX - Dividend Comparison
DNLAX's dividend yield for the trailing twelve months is around 1.79%, less than DHMBX's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHMBX BNY Mellon High Yield Municipal Bond Fund | 3.75% | 5.37% | 3.96% | 3.13% | 3.09% | 2.47% | 3.46% | 4.19% | 4.13% | 3.66% | 4.95% | 4.50% |
DNLAX BNY Mellon Natural Resources Fund Class A | 1.79% | 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
DNLAX and DHMBX have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DNLAX has higher volatility (4.53%) compared to DHMBX (1.05%). In terms of maximum drawdown, DNLAX dropped -69.14% vs DHMBX's -27.66%.
DHMBX currently has the higher Sharpe Ratio (2.42 vs 2.14), 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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