DRAAX — Dreyfus Global Multi-Asset Income Fund
Data updated: 2023-01-04
DRAAX — Dreyfus Global Multi-Asset Income Fund. Money Market · $13.75M AUM · 0.40% expense ratio. Holdings, fees, performance and SEC filings.
DRAAX Fund Overview
DRAAX — Dreyfus Global Multi-Asset Income Fund is a US mutual fund managed by BNY Mellon Advantage Funds, Inc., categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: BNY Mellon Advantage Funds, Inc.
- Category: Money Market
- Assets under management: $13.75M
- 1-year return: -18.8%
- Ticker: DRAAX
- SEC CIK: 0000914775
- SEC series ID: S000059726
- Share class ID: C000195457
DRAAX Investment Objective and Strategy
Dreyfus Global Multi-Asset Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BNY Mellon Advantage Funds, Inc..
Investment objective
The fund seeks current income, while maintaining the potential for long-term capital appreciation.
Principal investment strategy
"To pursue its goal, the fund uses an actively-managed global multi-asset strategy that focuses on income generation. The fund's sub-adviser allocates the fund's investments among equity and equity-related securities, debt and debt-related securities, and, generally to a lesser extent, real estate, commodities and infrastructure in developed and emerging markets. The fund will seek to gain exposure to various asset classes principally through direct investments in securities, but the fund also may use derivative instruments and investments in other investment companies, including exchange-traded funds (ETFs), and real estate investment trusts (REITs) for such exposure. The fund's sub-adviser allocates the fund's investments across asset classes seeking to construct a diversified portfolio focused on income generation, while maintaining the potential for long-term capital appreciation and managing the risk profile of the fund's portfolio of investments.
The fund's sub-adviser allocates the fund's assets among various regions and countries, including the United States. Under normal market conditions, the fund invests significantly (at least 40% unless market conditions are not deemed favorable by the sub-adviser, in which case the fund would invest at least 30% of its net assets) in companies organized or located outside the United States, whose primary listing exchange for securities is located outside the United States, whose largest amount of revenues are derived from countries outside the United States or whose reporting currencies are other than U.S. dollars. The fund's portfolio ordinarily is globally diversified and, although at times it may, the fund normally does not invest a substantial portion of its assets in a single country. The fund typically invests less than 50% of its net assets in the securities of issuers whose primary listing is in emerging market countries.
The composition of the fund's investment portfolio will vary over time, based on the allocation to the various asset classes. The fund's sub-adviser may vary the amount of the fund's assets allocated to a particular asset class depending on market conditions, including maintaining zero exposure to an asset class. The fund may invest in, or otherwise have investment exposure to, the securities of companies of any market capitalization and of any credit quality, maturity or duration. The fund, at times, may invest in securities rated below investment grade (""high yield"" or ""junk"" bonds) or the unrated equivalent as determined by the sub-adviser. Typically, however, the majority of the fund's assets invested in debt and debt-related securities will be rated investment grade or the unrated equivalent as determined by the sub-adviser.
The sub-adviser's investment process uses a combination of investment themes, fundamental analysis and security valuation. Themes seek to identify the major areas of structural change in the world, providing context to investment analysis and decision making, helping the fund's portfolio managers identify areas of potential opportunity and risk both at the asset class and security level. Fundamental analysis and consideration of security valuations by the portfolio managers then helps to determine a list of potential investments for the fund. When selecting investments for the fund, the portfolio managers consider the impact of these investments on the fund's overall portfolio construction, such as asset class exposures, the size of each security position, the investment risk and income characteristics of the securities themselves, and the risk profile of the fund's portfolio of investments.
The equity securities in which the fund may invest include common stocks. The debt securities in which the fund may invest include bonds, debentures, notes (including credit-linked notes and other structured notes and investments), mortgage-related securities, asset-backed securities, convertible securities (including contingent convertible bonds), Eurodollar and Yankee dollar instruments, preferred stocks, municipal obligations, inflation-adjusted securities and money market instruments. The fund may gain investment exposure to global commodity markets and infrastructure through investments in ETFs and to real estate through investments in REITs. The fund may hold a significant portion of its assets in U.S. government securities, high quality debt securities, money market instruments, cash and other cash equivalents to collateralize its derivatives positions, pending investment or allocation to an asset class, to manage purchase and redemption activity, or for defensive purposes.
The fund may use derivative instruments as a substitute for investing directly in an underlying asset, to increase returns, to manage foreign currency, credit or interest rate risk, to manage effective maturity or duration, as part of a hedging strategy, or for other purposes related to the management of the fund. These instruments may include principally options, futures and options on futures (including those relating to securities, foreign currencies, indices and interest rates), forward contracts (including foreign currency forward contracts), swaps, options on swaps, contracts for difference, and other derivative instruments (including commodity-linked instruments, such as structured notes, and participatory notes). When the fund enters into derivatives transactions, it may be required to segregate liquid assets or enter into offsetting positions or otherwise cover its obligations, in accordance with applicable regulations, while the positions are open.
The fund is not managed to a benchmark index, nor will the fund's portfolio have the same characteristics as its designated primary performance baseline benchmark 60% MSCI All Country World Index (NDR)/40% BofA Merrill Lynch Global Broad Market Index (USD Hedged) or its designated broad-based securities market index the MSCI All Country World Index (NDR). Rather than managing to track a benchmark index, the fund seeks to provide returns that are largely independent of market moves."
DRAAX Holdings
Top 10 holdings of Dreyfus Global Multi-Asset Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Dreyfus Institutional Preferre | 4.54% |
| Apple, Inc. | 2.74% |
| Microsoft Corp. | 2.36% |
| Amazon.com, Inc. | 1.34% |
| Alphabet, Inc. | 1.30% |
| Dreyfus Institutional Preferre | 1.24% |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 1.14% |
| Tencent Holdings Ltd. | 1.10% |
| Alibaba Group Holding Ltd. | 0.98% |
| Mastercard, Inc. | 0.83% |
DRAAX Portfolio Allocation
Asset-class allocation of Dreyfus Global Multi-Asset Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 58.6% |
| Fixed Income | 28.1% |
| Securitized | 11.4% |
| Cash & Equivalents | 5.8% |
DRAAX Performance
Total returns for DRAAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -18.8% |
| 3 years (annualised) | 2.1% |
DRAAX Risk Information
Risk metrics for DRAAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.9%
DRAAX Costs and Fees
DRAAX costs about $40 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.40%
- Gross expense ratio: 1.59%
- Portfolio turnover: 89%
- Brokerage commissions: 1.03 bps of average net assets (SEC N-CEN)
DRAAX Cashflows
Over the 12 months to 2022-10, Dreyfus Global Multi-Asset Income Fund had net inflows of $473.22K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-10 | −$195.41K |
| 2022-09 | $91.18K |
| 2022-08 | $77.74K |
| 2022-07 | $80.64K |
| 2022-06 | $55.16K |
| 2022-05 | $48.87K |
DRAAX Debt Constituents
Largest debt holdings of Dreyfus Global Multi-Asset Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| US Treasury N/b | 0.71% |
| US Treasury N/b | 0.47% |
| US Treasury N/b | 0.46% |
| US Treasury N/b | 0.39% |
| US Treasury N/b | 0.36% |
| US Treasury N/b | 0.34% |
| US Treasury N/b | 0.33% |
| US Treasury N/b | 0.33% |
| US Treasury N/b | 0.31% |
| US Treasury N/b | 0.31% |
DRAAX Prospectus and SEC Filings
Official Dreyfus Global Multi-Asset Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-02-25
- Prospectus (485BPOS) — filed 2021-02-24
- Prospectus (485BPOS) — filed 2020-03-06
- Portfolio holdings (N-PORT) — filed 2022-12-23
- Portfolio holdings (N-PORT) — filed 2022-09-30
- Portfolio holdings (N-PORT) — filed 2022-06-28
- Annual census (N-CEN) — filed 2023-01-04
- Annual census (N-CEN) — filed 2022-01-11
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.