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BNY Mellon Developed Markets Real Estate Securities Fund
DRLYX (Mutual Fund)
BNY Mellon Developed Markets Real Estate Securities Fund
Name
As of 12/11/2024Price
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
$8.58
$290 M
2.58%
$0.22
1.08%
Vitals
YTD Return
7.8%
1 yr return
11.1%
3 Yr Avg Return
-1.2%
5 Yr Avg Return
3.5%
Net Assets
$290 M
Holdings in Top 10
33.1%
52 WEEK LOW AND HIGH
$8.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.08%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 84.48%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
$8.58
$290 M
2.58%
$0.22
1.08%
DRLYX - Profile
Distributions
- YTD Total Return 7.8%
- 3 Yr Annualized Total Return -1.2%
- 5 Yr Annualized Total Return 3.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.63%
- Dividend Yield 2.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBNY Mellon Developed Markets Real Estate Securities Fund
-
Fund Family NameDreyfus
-
Inception DateJul 01, 2013
-
Shares OutstandingN/A
-
Share ClassY
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDean Frankel
Fund Description
To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in publicly-traded equity securities of companies principally engaged in the real estate sector. The fund normally invests in a global portfolio of equity securities of real estate companies, including real estate investment trusts (REITs) and real estate operating companies, with principal places of business located in, but not limited to, the developed markets of Europe, Australia, Asia and North America (including the United States). In selecting investments for the fund's portfolio, CenterSquare Investment Management LLC (CenterSquare), the fund's sub-adviser, uses a proprietary approach to quantify investment opportunity from both a real estate and stock perspective. Generally, CenterSquare combines top-down real estate research and its relative value model securities valuation process. In conducting its bottom-up research, CenterSquare engages in an active analysis process that includes regular and direct contact with the companies in the fund's investable universe. These research efforts are supported with extensive sell side and independent research. Through the use of the proprietary relative value model, CenterSquare seeks to establish the validity of the price of a security relative to its peers by providing statistically significant solutions to business- and management-related uncertainties, such as the impact on value of leverage, growth rate, market capitalization and property type.
CenterSquare employs a robust risk management process, which involves measuring valuation, fundamental and factor exposures in the fund's portfolio. Securities held by the fund may be sold for a number of reasons, including risk management, profit realization and repositioning among specific sectors as a result of CenterSquare's research process. Finding a more attractive relative value opportunity is CenterSquare's most common rationale for exiting a position.
The fund's benchmark is the FTSE European Public Real Estate Association/National Association of Real Estate Investment Trusts Developed Index (FTSE EPRA/Nareit Developed Index (Net)), a market capitalization weighted index of exchange-listed real estate companies and REITs worldwide.
DRLYX - Performance
Return Ranking - Trailing
| Period | DRLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.8% | -10.0% | 31.4% | 13.29% |
| 1 Yr | 11.1% | -8.6% | 35.1% | 42.20% |
| 3 Yr | -1.2%* | -17.7% | 16.8% | 5.99% |
| 5 Yr | 3.5%* | -10.5% | 14.8% | 11.04% |
| 10 Yr | 4.8%* | -2.8% | 10.6% | 17.39% |
* Annualized
Return Ranking - Calendar
| Period | DRLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.5% | -16.8% | 16.7% | 29.24% |
| 2022 | -28.7% | -39.5% | 4.5% | 64.67% |
| 2021 | 17.1% | -0.9% | 30.7% | 68.10% |
| 2020 | -4.1% | -19.7% | 13.7% | 29.45% |
| 2019 | 10.6% | 1.0% | 26.5% | 75.93% |
Total Return Ranking - Trailing
| Period | DRLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.8% | -10.0% | 31.4% | 13.29% |
| 1 Yr | 11.1% | -8.6% | 35.1% | 42.20% |
| 3 Yr | -1.2%* | -17.7% | 16.8% | 5.99% |
| 5 Yr | 3.5%* | -10.5% | 14.8% | 11.04% |
| 10 Yr | 4.8%* | -2.8% | 10.6% | 17.39% |
* Annualized
Total Return Ranking - Calendar
| Period | DRLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.6% | -14.6% | 23.4% | 14.62% |
| 2022 | -23.2% | -39.5% | 10.1% | 14.37% |
| 2021 | 26.9% | 5.7% | 101.8% | 44.79% |
| 2020 | -2.4% | -17.8% | 14.7% | 38.65% |
| 2019 | 23.2% | 4.3% | 37.2% | 59.88% |
NAV & Total Return History
DRLYX - Holdings
Concentration Analysis
| DRLYX | Category Low | Category High | DRLYX % Rank | |
|---|---|---|---|---|
| Net Assets | 290 M | 4.27 M | 7.48 B | 58.82% |
| Number of Holdings | 104 | 5 | 691 | 20.81% |
| Net Assets in Top 10 | 102 M | 2.13 M | 4.55 B | 57.23% |
| Weighting of Top 10 | 33.05% | 20.1% | 63.7% | 87.21% |
Top 10 Holdings
- EQUINIX INC 5.59%
- PROLOGIS INC 5.01%
- WELLTOWER INC 3.76%
- VENTAS INC 3.13%
- UDR INC 3.10%
- EXTRA SPACE STORAGE INC 2.92%
- DIGITAL REALTY TRUST INC 2.78%
- KIMCO REALTY CORP 2.55%
- INVITATION HOMES INC 2.19%
- SUN COMMUNITIES INC 2.04%
Asset Allocation
| Weighting | Return Low | Return High | DRLYX % Rank | |
|---|---|---|---|---|
| Stocks | 99.15% | 3.62% | 126.54% | 39.88% |
| Cash | 0.69% | 0.00% | 11.23% | 79.77% |
| Other | 0.01% | -33.49% | 101.32% | 31.21% |
| Preferred Stocks | 0.00% | 0.00% | 7.25% | 84.39% |
| Convertible Bonds | 0.00% | 0.00% | 0.07% | 83.82% |
| Bonds | 0.00% | 0.00% | 22.09% | 84.97% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | DRLYX % Rank | |
|---|---|---|---|---|
| Real Estate | 99.38% | 72.53% | 100.00% | 23.08% |
| Communication Services | 0.62% | 0.00% | 10.08% | 47.93% |
| Utilities | 0.00% | 0.00% | 0.96% | 85.21% |
| Technology | 0.00% | 0.00% | 4.92% | 91.72% |
| Industrials | 0.00% | 0.00% | 4.91% | 87.57% |
| Healthcare | 0.00% | 0.00% | 1.54% | 86.98% |
| Financial Services | 0.00% | 0.00% | 9.53% | 87.57% |
| Energy | 0.00% | 0.00% | 0.11% | 85.21% |
| Consumer Defense | 0.00% | 0.00% | 0.18% | 85.21% |
| Consumer Cyclical | 0.00% | 0.00% | 13.03% | 96.45% |
| Basic Materials | 0.00% | 0.00% | 1.63% | 85.80% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | DRLYX % Rank | |
|---|---|---|---|---|
| US | 66.12% | 0.00% | 102.76% | 20.23% |
| Non US | 33.03% | 0.00% | 99.07% | 72.25% |
DRLYX - Expenses
Operational Fees
| DRLYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.08% | 0.10% | 36.96% | 68.79% |
| Management Fee | 0.95% | 0.09% | 1.50% | 92.44% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.25% | N/A |
Sales Fees
| DRLYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| DRLYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 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.
| DRLYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 84.48% | 1.00% | 165.00% | 75.60% |
DRLYX - Distributions
Dividend Yield Analysis
| DRLYX | Category Low | Category High | DRLYX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.58% | 0.00% | 5.52% | 23.70% |
Dividend Distribution Analysis
| DRLYX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| DRLYX | Category Low | Category High | DRLYX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.63% | -0.23% | 3.84% | 38.24% |
Capital Gain Distribution Analysis
| DRLYX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 26, 2023 | $0.222 | OrdinaryDividend |
| Dec 27, 2022 | $0.558 | OrdinaryDividend |
| Dec 28, 2021 | $0.844 | OrdinaryDividend |
| Dec 28, 2020 | $0.095 | OrdinaryDividend |
| Mar 24, 2020 | $0.006 | CapitalGainShortTerm |
| Mar 24, 2020 | $0.030 | CapitalGainLongTerm |
| Dec 26, 2019 | $0.400 | OrdinaryDividend |
| Dec 26, 2019 | $0.093 | CapitalGainShortTerm |
| Dec 26, 2019 | $0.489 | CapitalGainLongTerm |
| Mar 19, 2019 | $0.004 | CapitalGainShortTerm |
| Mar 19, 2019 | $0.031 | CapitalGainLongTerm |
| Dec 26, 2018 | $0.020 | CapitalGainShortTerm |
| Dec 26, 2018 | $0.110 | CapitalGainLongTerm |
| Dec 26, 2018 | $0.221 | OrdinaryDividend |
| Mar 20, 2018 | $0.032 | CapitalGainLongTerm |
| Dec 26, 2017 | $0.136 | CapitalGainLongTerm |
| Dec 26, 2017 | $0.245 | OrdinaryDividend |
| Mar 21, 2017 | $0.003 | CapitalGainShortTerm |
| Mar 21, 2017 | $0.045 | CapitalGainLongTerm |
| Dec 27, 2016 | $0.061 | CapitalGainShortTerm |
| Dec 27, 2016 | $0.028 | CapitalGainLongTerm |
| Dec 27, 2016 | $0.398 | OrdinaryDividend |
| Dec 28, 2015 | $0.010 | CapitalGainShortTerm |
| Dec 28, 2015 | $0.246 | CapitalGainLongTerm |
| Dec 28, 2015 | $0.208 | OrdinaryDividend |
| Dec 26, 2014 | $0.041 | CapitalGainLongTerm |
| Dec 26, 2014 | $0.236 | OrdinaryDividend |
| Dec 26, 2013 | $0.236 | OrdinaryDividend |
DRLYX - Fund Manager Analysis
Managers
Dean Frankel
Start Date
Tenure
Tenure Rank
Dec 29, 2006
15.43
15.4%
Dean Frankel is the Global Co-Head, Real Estate Securities at CenterSquare Investment Management. Mr. Frankel is responsible for management of the firm's proprietary research process, as well as analyzing and interpreting the implications of major events and economic trends. Mr. Frankel manages the daily operations of the real estate securities portfolios and has ultimate decision-making authority for the core U.S. and Global REIT strategies. Mr. Frankel joined CenterSquare in 1997 and has served as Senior Portfolio Manager since 2006. He manages CenterSquare’s proprietary research process and oversees the CenterSquare Investment Management, Inc.'s real estate securities trading activities. Mr. Frankel holds a B.S. in Economics from the University of Pennsylvania's Wharton School of Business.
Eric Briddell
Start Date
Tenure
Tenure Rank
Jun 19, 2013
8.95
9.0%
Mr. Briddell, Primary Portfolio Manager, is the Chief Executive Officer and Chief Investment Officer of CSIM Investment Management LLC,whose predecessor firm he joined in 1993. Mr. Briddell has oversight responsibility for all of CenterSquare’s real estate investment advisory services including private real estate and public real estate securities across the United States, Europe and Asia. He also chairs the firm’s Management Committee and is a member of the BNY Mellon Investment Management Executive Committee and CenterSquare’s Private Real Estate Investment Committee. Mr. Briddell is the founder of CenterSquare’s listed real estate securities group, and since joining the firm in 1993 he has held positions in private real estate acquisitions, U.S. and Global REIT research and portfolio management. Mr. Briddell holds a B.S. in Economics from the Wharton School of Business at the University of Pennsylvania with concentrations in Finance and Real Estate. He is a member of NAREIT, the CFA Institute/Society of Philadelphia and PREA, where he was Co-Chair of the Green Building Committee.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 20.42 | 7.12 | 10.42 |
