DSDAX — BNY Mellon Tax Sensitive Total Return Bond Fund
Data updated: 2023-02-24
DSDAX — BNY Mellon Tax Sensitive Total Return Bond Fund. Money Market · $16.15M AUM · 0.75% expense ratio. Holdings, fees, performance and SEC filings.
DSDAX Fund Overview
DSDAX — BNY Mellon Tax Sensitive Total Return Bond Fund is a US mutual fund managed by BNY Mellon Investment Funds I, 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 Investment Funds I
- Category: Money Market
- Assets under management: $16.15M
- 1-year return: -8.2%
- Ticker: DSDAX
- SEC CIK: 0000799295
- SEC series ID: S000011667
- Share class ID: C000075531
DSDAX Investment Objective and Strategy
BNY Mellon Tax Sensitive Total Return Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BNY Mellon Investment Funds I.
Investment objective
The fund seeks high after-tax total return.
Principal investment strategy
"To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds (or other instruments with similar economic characteristics). The fund normally invests at least 65% of its net assets in municipal bonds that provide income exempt from federal personal income tax. The fund may invest up to 35% of its net assets in taxable bonds and may invest, without limitation, in municipal bonds, the income from which is subject to the federal alternative minimum tax. The fund invests principally in the following: municipal bonds; bonds issued or guaranteed by the U.S. government or its agencies or instrumentalities; corporate bonds; mortgage-related securities; asset-backed securities; floating rate loans (limited to up to 20% of the fund's net assets) and other floating rate securities; and bonds of foreign governments and companies (limited to up to 15% of the fund's assets, including emerging market bonds).
The fund also may invest in money market instruments and other short-term debt instruments. The fund invests principally in bonds rated investment grade (i.e., Baa/BBB or higher) at the time of purchase or, if unrated, determined to be of comparable quality by the fund's subadviser. The fund is permitted to invest up to 25% of its assets, in the aggregate, in fixed-income securities rated below investment grade (""high yield"" or ""junk"" bonds) or, if unrated, determined to be of comparable quality by the fund's subadviser, with up to 15% of the fund's assets in such securities that are taxable and up to 10% of its assets in such securities that are tax exempt. The fund's portfolio managers seek relative value opportunities within the municipal bond market and to selectively invest in taxable securities that may offer the potential to enhance after-tax total return and/or reduce volatility.
In selecting securities, the portfolio managers use a combination of fundamental credit analysis and macro-economic and quantitative inputs. The portfolio managers focus on identifying undervalued sectors and securities and select municipal bonds by (i) using fundamental credit analysis to estimate the relative value and attractiveness of various sectors and securities and to exploit pricing inefficiencies in the municipal bond market, and (ii) investing in various sectors based on apparent relative values. The fund generally maintains an effective portfolio duration of seven years or less. The fund does not have any restrictions on its average effective portfolio maturity or on the maturity or duration of the individual bonds the fund may purchase. A bond's maturity is the length of time until the principal must be fully repaid with interest.
Average effective portfolio maturity is an average of the maturities of bonds held by the fund directly and the bonds underlying derivative instruments entered into by the fund, if any, adjusted to reflect provisions or market conditions that may cause a bond's principal to be repaid earlier than at its stated maturity. Duration is an indication of an investment's ""interest rate risk,"" or how sensitive a bond or the fund's portfolio may be to changes in interest rates."
DSDAX Performance
Total returns for DSDAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -8.2% |
| 3 years (annualised) | -1.1% |
DSDAX Risk Information
Risk metrics for DSDAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.0%
DSDAX Costs and Fees
DSDAX costs about $75 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.75%
- Gross expense ratio: 1.00%
- Portfolio turnover: 12%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
DSDAX Cashflows
Over the 12 months to 2022-12, BNY Mellon Tax Sensitive Total Return Bond Fund had net outflows of $35.58M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-12 | −$2.30M |
| 2022-11 | −$798.33K |
| 2022-10 | −$22.60M |
| 2022-09 | −$3.20M |
| 2022-08 | −$647.11K |
| 2022-07 | $201.31K |
DSDAX Debt Constituents
No individual debt constituents are reported in BNY Mellon Tax Sensitive Total Return Bond Fund's latest SEC N-PORT filing.
DSDAX Prospectus and SEC Filings
Official BNY Mellon Tax Sensitive Total Return Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-01-27
- Prospectus (485BPOS) — filed 2021-01-27
- Prospectus (485BPOS) — filed 2020-02-07
- Portfolio holdings (N-PORT) — filed 2023-02-24
- Portfolio holdings (N-PORT) — filed 2022-11-25
- Portfolio holdings (N-PORT) — filed 2022-08-29
- Annual census (N-CEN) — filed 2022-12-02
- Annual census (N-CEN) — filed 2021-12-02
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.