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Trending ETFs

BNY Mellon Floating Rate Income Fund

mutual fund
DFLAX
Payout Change
Pending
Price as of:
$11.16 +0.01 +0.09%
primary theme
Bank Loan
DFLAX (Mutual Fund)

BNY Mellon Floating Rate Income Fund

Payout Change
Pending
Price as of:
$11.16 +0.01 +0.09%
primary theme
Bank Loan
DFLAX (Mutual Fund)

BNY Mellon Floating Rate Income Fund

Payout Change
Pending
Price as of:
$11.16 +0.01 +0.09%
primary theme
Bank Loan

Name

As of 10/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.16

$817 M

8.50%

$0.95

1.04%

Vitals

YTD Return

7.4%

1 yr return

11.2%

3 Yr Avg Return

6.3%

5 Yr Avg Return

5.5%

Net Assets

$817 M

Holdings in Top 10

10.3%

52 WEEK LOW AND HIGH

$11.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.04%

SALES FEES

Front Load 2.50%

Deferred Load N/A

TRADING FEES

Turnover 81.57%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/11/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.16

$817 M

8.50%

$0.95

1.04%

DFLAX - Profile

Distributions

  • YTD Total Return 7.4%
  • 3 Yr Annualized Total Return 6.3%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.01%
DIVIDENDS
  • Dividend Yield 8.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    BNY Mellon Floating Rate Income Fund
  • Fund Family Name
    Dreyfus
  • Inception Date
    Sep 30, 2013
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Chris Barris

Fund Description

To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating rate loans and other floating rate securities. These investments effectively should enable the fund to achieve a floating rate of income. The fund's sub-adviser, Alcentra NY, LLC, normally focuses on senior secured floating rate loans, which are loans secured by specific collateral of the borrower and are senior to most other securities of the borrower (e.g., common stock or debt instruments) in the event of bankruptcy. The fund's investments in floating rate loans and other floating rate securities also may include, without limitation, (i) second lien loans, senior unsecured loans and subordinated loans, (ii) senior and subordinated corporate debt obligations (such as bonds, debentures and notes), and (iii) debt obligations issued by governments, their agencies and instrumentalities, and debt obligations issued by central banks. The fund may purchase participations and assignments in, and commitments to purchase, floating rate loans. The fund currently intends to invest principally in floating rate loans and other floating rate securities of U.S. issuers, but may invest up to 30% of its net assets in securities of foreign issuers, typically those located in foreign countries that are members of the Organisation for Economic Co-operation and Development.

Floating rate instruments are loans and other securities with interest rates that adjust or "float" periodically based on a specified interest rate or other reference. Floating rate loans are made by banks and other financial institutions to their corporate clients.

The fund may invest in floating rate loans and other securities of any credit quality, maturity and duration. The floating rate loans and other floating rate securities in which the fund invests typically will be rated, at the time of investment, below investment grade (i.e., below BBB- or Baa3) by one or more nationally recognized statistical rating organizations (NRSROs) that rate such instruments, or, if unrated, determined to be of comparable quality by the fund's sub-adviser (commonly referred to as "junk" or "high yield" instruments). The fund may invest up to 20% of its net assets in the aggregate in floating rate loans and other floating rate securities and fixed rate high yield bonds rated, at the time of investment, in the lower rated categories (CCC+ or Caa1 or lower) by an NRSRO or, if unrated, determined to be of comparable quality by the fund's sub-adviser. The fund may not invest in issuers which are in default (i.e., failing to pay interest or principal when due) at the time of purchase, except for investments in debt issued in connection with a company in bankruptcy that is senior to all other debt, equity, and any other securities in connection with such issuer.

The fund's sub-adviser buys and sells securities for the fund through a value-oriented, bottom-up research process that incorporates a macroeconomic overlay to analyze investment opportunities. The sub-adviser uses fundamental credit analysis to identify favorable and unfavorable risk/reward opportunities across sectors, industries and structures while seeking to mitigate credit risk. The sub-adviser's fundamental analysis is complemented by its macroeconomic outlook as it relates to observed default trends, performance drivers and capital market liquidity. The sub-adviser seeks to mitigate credit risk through a disciplined approach to its credit investment selection and evaluation process.

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DFLAX - Performance

Return Ranking - Trailing

Period DFLAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% -3.0% 10.3% 19.78%
1 Yr 11.2% -3.9% 15.3% 8.58%
3 Yr 6.3%* -6.0% 8.1% 7.81%
5 Yr 5.5%* -6.2% 38.2% 10.66%
10 Yr 4.0%* -2.0% 19.7% 30.98%

* Annualized

Return Ranking - Calendar

Period DFLAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.7% -12.0% 11.1% 25.37%
2022 -6.4% -22.9% 5.1% 27.59%
2021 0.6% -12.2% 11.1% 76.08%
2020 -2.2% -14.1% 289.8% 37.96%
2019 1.5% -8.1% 7.5% 80.25%

Total Return Ranking - Trailing

Period DFLAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.4% -3.0% 10.3% 19.78%
1 Yr 11.2% -3.9% 15.3% 8.58%
3 Yr 6.3%* -6.0% 8.1% 7.81%
5 Yr 5.5%* -6.2% 38.2% 10.66%
10 Yr 4.0%* -2.0% 19.7% 30.98%

* Annualized

Total Return Ranking - Calendar

Period DFLAX Return Category Return Low Category Return High Rank in Category (%)
2023 13.0% -12.0% 22.1% 33.21%
2022 -1.5% -22.9% 5.1% 26.44%
2021 4.6% -10.2% 11.1% 59.22%
2020 2.3% -14.1% 306.9% 35.92%
2019 6.9% -3.6% 10.5% 68.07%

NAV & Total Return History


DFLAX - Holdings

Concentration Analysis

DFLAX Category Low Category High DFLAX % Rank
Net Assets 817 M 29.9 M 13.5 B 44.27%
Number of Holdings 338 2 1977 54.23%
Net Assets in Top 10 84.7 M -191 M 2.37 B 55.77%
Weighting of Top 10 10.27% 5.2% 100.7% 80.31%

Top 10 Holdings

  1. Dreyfus Institutional Preferred Government Plus Money Market Fund 3.84%
  2. DREYFUS INSTITUTIONAL PREFERRED PL 0.89%
  3. ATHENAHEALTH GROUP INC 0.83%
  4. FIRST BRANDS GROUP LLC 0.77%
  5. ASURION LLC 0.69%
  6. GAINWELL ACQUISITION CORP 0.68%
  7. SHARP SERVICES LLC 0.67%
  8. COTIVITI INC 0.64%
  9. UKG INC 0.64%
  10. AADVANTAGE LOYALTY IP 0.62%

Asset Allocation

Weighting Return Low Return High DFLAX % Rank
Bonds
96.34% 0.00% 161.82% 35.77%
Cash
8.09% -61.90% 16.36% 18.46%
Stocks
2.40% 0.00% 100.74% 34.62%
Preferred Stocks
0.00% -3.99% 7.30% 38.85%
Convertible Bonds
0.00% 0.00% 5.51% 50.39%
Other
-7.72% -52.39% 34.87% 99.23%

Stock Sector Breakdown

Weighting Return Low Return High DFLAX % Rank
Consumer Defense
100.00% 0.00% 100.00% 2.61%
Utilities
0.00% 0.00% 100.00% 26.09%
Technology
0.00% 0.00% 100.00% 26.96%
Real Estate
0.00% 0.00% 48.61% 13.04%
Industrials
0.00% 0.00% 100.00% 45.22%
Healthcare
0.00% 0.00% 100.00% 13.04%
Financial Services
0.00% 0.00% 89.61% 13.04%
Energy
0.00% 0.00% 100.00% 59.13%
Communication Services
0.00% 0.00% 100.00% 59.13%
Consumer Cyclical
0.00% 0.00% 97.66% 40.00%
Basic Materials
0.00% 0.00% 1.36% 11.30%

Stock Geographic Breakdown

Weighting Return Low Return High DFLAX % Rank
US
2.40% -0.01% 100.74% 34.62%
Non US
0.00% 0.00% 0.68% 26.54%

Bond Sector Breakdown

Weighting Return Low Return High DFLAX % Rank
Corporate
84.36% 0.00% 99.80% 81.01%
Cash & Equivalents
3.84% 0.00% 25.03% 42.31%
Securitized
2.52% 0.00% 91.68% 22.09%
Government
0.01% 0.00% 3.18% 22.87%
Municipal
0.00% 0.00% 0.47% 15.12%
Derivative
-7.72% -10.96% 0.85% 99.23%

Bond Geographic Breakdown

Weighting Return Low Return High DFLAX % Rank
US
88.36% 0.00% 123.41% 67.69%
Non US
7.98% 0.00% 63.23% 25.77%

DFLAX - Expenses

Operational Fees

DFLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.04% 0.03% 5.51% 56.93%
Management Fee 0.65% 0.00% 1.89% 53.93%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.27% N/A

Sales Fees

DFLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.50% 1.00% 5.75% 66.67%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

DFLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DFLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 81.57% 4.00% 180.00% 71.43%

DFLAX - Distributions

Dividend Yield Analysis

DFLAX Category Low Category High DFLAX % Rank
Dividend Yield 8.50% 0.00% 11.13% 23.88%

Dividend Distribution Analysis

DFLAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

DFLAX Category Low Category High DFLAX % Rank
Net Income Ratio 4.01% 1.77% 9.82% 25.78%

Capital Gain Distribution Analysis

DFLAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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DFLAX - Fund Manager Analysis

Managers

Chris Barris


Start Date

Tenure

Tenure Rank

Sep 27, 2013

8.68

8.7%

Chris Barris, Kevin Cronk, CFA, and Leland Hart are the fund's primary portfolio managers, positions they have held since October 2010, September 2012 and February 2018, respectively. Messrs. Mr. Barris has been employed by BNYM Investment Adviser since July 2007 and is Global Head of High Yield and Deputy Chief Investment Officer at Alcentra, which he joined in January 2013. Mr. Cronk has been employed by BNYM Investment Adviser since July 2012 and is a Managing Director and Head of U.S. Credit at Alcentra, which he joined in January 2013. Mr. Hart has been employed by BNYM Investment Adviser since February 2018 and is a Managing Director and Head of U.S. Loans and High Yield at Alcentra, which he joined in January 2018. Prior to joining Alcentra, Mr. Hart was a managing director for BlackRock Asset Management, where he was employed since 2009. Messrs. Barris, Cronk and Hart manage the fund in their capacity as employees of BNYM Investment Adviser.

Kevin Cronk


Start Date

Tenure

Tenure Rank

May 24, 2017

5.02

5.0%

Mr. Cronk joined Alcentra in January 2013 as part of the combination of Alcentra with Standish Mellon Asset Management Company LLC’s high yield business, and is the Head of U.S. Credit Research and a member of the U.S. Investment Committee. Mr. Cronk joined Standish Mellon Asset Management Company LLC, an affiliate of BNYM Investment Adviser and Alcentra, in 2011 from Columbia Management, where he worked for eleven years as a High Yield Analyst and Portfolio Manager. Prior to that, he worked as a High Yield Investment Associate at Putnam Investments.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.06 3.25