BNY Mellon Balanced Opportunity Fund (2024)

Overview

Why invest in this Fund?

The fund seeks high total return through a combination of capital appreciation and current income. To pursue this goal, the fund invests in a diversified mix of stocks and fixed-income securities. The fund selects securities that, in the portfolio managers' judgment, will result in the highest total return consistent with preservation of principal. The fund normally will allocate between 25% and 50% of its assets to fixed-income securities.

Min. class investment

$0

Class Inception Date

12/17/04

Class Status

Class Z shares are closed to new accounts.

Fund Assets

$276,504,457 As of 01/23/24

Class Assets

$30,655,857 As of 01/23/24

Portfolio Turnover Rate

68.43% As of fiscal year end 11/30/22

Morningstar Category

Moderate Allocation

Benchmark

Customized Blended Index (Balanced Opportunity)

Morningstar Overall Rating

Fund Holdings

540 As of12/31/23

Morningstar Rating™ as of December 31, 2023 for the Class Z class shares; other classes may have different performance characteristics. Overall rating for the Moderate Allocation category. Fund ratings are out of 5 Stars: Overall 3 Stars (700 funds rated); 3 Yrs. 3 Stars (700 funds rated); 5 Yrs. 3 Stars (658 funds rated); 10 Yrs. 3 Stars (493 funds rated). The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance (not including the effects of sales charges, loads and redemption fees if applicable), placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The fund represents a single portfolio with multiple share classes that have different expense structures. Other share classes may have achieved different results.

Portfolio Managers

  • BNY Mellon Balanced Opportunity Fund (1)

    John Porter

    CIO, Head of Equity, Newton Investment Management North America, LLC

    2 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (2)

    John Bailer, CFA

    Deputy Head of Equity Income, Portfolio Manager, Newton Investment Management North America, LLC

    8 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (3)

    Karen Miki Behr

    Portfolio Manager, Newton Investment Management North America, LLC

    2 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (4)

    David R. Bowser, CFA

    Senior Portfolio Manager, Insight North America, LLC

    15 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (5)

    James Stavena, CFA

    Portfolio Manager, Newton Investment Management North America, LLC

    1 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (6)

    Brian C. Ferguson

    Portfolio Manager, Newton Investment Management North America, LLC

    16 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (7)

    Keith Howell

    Portfolio Manager,

    2 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (8)

    James A. Lydotes, CFA

    Deputy CIO, Newton Investment Management North America, LLC

    7 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (9)

    Torrey Zaches, CFA

    Portfolio Manager, Newton Investment Management North America, LLC

    5 yr(s). on fund

  • BNY Mellon Balanced Opportunity Fund (10)

    Martin Chambers

    Portfolio Manager, Newton Investment Management North America, LLC

    Since September 2023

  • BNY Mellon Balanced Opportunity Fund (11)

    Howard Cunningham

    Portfolio Manager, Newton

    Since September 2023

Performance

Total Returns

  • Month End
  • Quarter End

Month End

Average Annual
As of 12/31/23
Name 3 MO
12/31/23
YTD
12/31/23
1 YR 3 YRS 5 YRS 10 YRS Since Inception

BNY Mellon Balanced Opportunity Fund
DBOZX

9.01 17.57 17.57 4.37 8.60 6.70 8.01

Customized Blended Index (Balanced Opportunity)

9.74 17.67 17.67 4.71 9.98 8.09 -

Quarter End

Average Annual
As of 12/31/23
Name 3 MO
12/31/23
YTD
12/31/23
1 YR 3 YRS 5 YRS 10 YRS Since Inception

BNY Mellon Balanced Opportunity Fund
DBOZX

9.01 17.57 17.57 4.37 8.60 6.70 8.01

Customized Blended Index (Balanced Opportunity)

9.74 17.67 17.67 4.71 9.98 8.09 -

The performance data quotes represents past performance, which is no guarantee of future results. Yield, share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current performance may be lower or higher than the performance quoted. Click above for month-end returns.

The S&P 500® Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS (agency and nonagency). Investors cannot invest directly in any index.

The total return performance figures presented for Class Z shares of the fund represent the performance of the fund's Class J for periods prior to December 17, 2004, the inception date for Class Z shares, and the performance of Class Z, respectively, from that inception date. Performance reflects the applicable class' distribution/servicing fees since the inception date. Had these fees and expenses been reflected for periods prior, performance would have been different.


Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, anticipated holding period and other relevant factors.

Growth of $10,000 Investment

Past performance is no guarantee of future results.

Historical Performance

    Class Z shares are closed to new accounts.

    Past performance is no guarantee of future results.

    Yearly Total Return

    Yearly

    Fund 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014

    DBOZX

    17.57% -15.80% 14.84% 10.57% 20.19% -4.01% 11.72% 10.18% -0.38% 7.60%

    Investment return fluctuates and past performance is no guarantee of future results.

    Prospectus Fee Table Expense Ratios

    As of 03/31/23Fee DescriptionExpense Ratio (%)
    Management Fee0.80%
    Shareholder Service Fees0.08%
    Other Expenses0.21%
    Total Expenses1.09%
    Expenses Reimbursed0.11%
    Net Expenses0.98%

    Total Expenses is the total annual operating expense ratio for the fund, before any fee waivers or expense reimbursements. Net Expenses is the total annual operating expense ratio for the fund, after any applicable fee waivers or expense reimbursements. The Total Expenses, or Net Expenses (if including fee waivers or expense reimbursements) is the actual fund expense ratio applicable to investors.
    The fund's investment adviser, BNY Mellon Investment Adviser, Inc., has contractually agreed, until March 31, 2024, to waive receipt of its fees and/or assume the direct expenses of the fund so that the direct expenses of none of the fund's share classes (excluding Rule 12b-1 fees, shareholder services fees, taxes, interest expense, brokerage commissions, commitment fees on borrowings and extraordinary expenses) exceed .90%. On or after March 31, 2024, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.

    Portfolio

    Portfolio Manager/Sub-Investment Adviser

    The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser). BNYM Investment Adviser has engaged its affiliate, Newton Investment Management North America, LLC (NIMNA), to serve as the fund's sub-adviser responsible for overall asset allocation for the fund and for the fund's assets allocated to equity investments, and its affiliate, Insight North America LLC (INA), to serve as the fund's sub-adviser responsible for the fund's assets allocated to fixed income investments. NIMNA has entered into a sub sub-investment advisory agreement with its affiliate, Newton Investment Management Limited (NIM), to enable NIM to provide certain advisory services to NIMNA for the benefit of the fund. Torrey Zaches, CFA and James Stavena are the fund's primary portfolio managers responsible for overall asset allocation for the fund, positions they have held since November 2018 and June 2022, respectively. Messrs. Zaches and Stavena are employed by NIMNA. Mr. Zaches is a portfolio manager at NIMNA. Mr. Stavena is Head of Portfolio Management, Multi Asset Solutions at NIMNA. Messrs. Zaches and Stavena allocate the fund's assets among equity portfolio managers employed by NIMNA and fixed income portfolio managers employed by INA. The fund's primary portfolio managers responsible for the portion of the fund's assets allocated to equity investments (and when they first held such position) are: Brian C. Ferguson (March 2007), John C. Bailer, CFA (December 2015), James A. Lydotes, CFA (September 2016), Karen Behr (September 2021), Keith Howell (September 2021) and John R. Porter III (October 2021). Howard Cunningham and Martin Chambers are the fund's primary portfolio managers responsible for the portion of the fund's assets allocated to fixed-income investments, positions they have held since September 2023.

    Top Holdings

    Download Total Holdings

    As of 12/31/23

    Holdings % PortfolioWeight
    Apple 2.81
    Microsoft 2.74
    Amazon.com 2.54
    Alphabet, Cl. C 2.34
    Nvidia 2.13
    SPDR S&P 500 ETF Trust 1.96
    United States Treasury Note/Bond, 4.75%, 07/31/2025 1.63
    United States Treasury Note/Bond, 2.25%, 02/15/2052 1.57
    United States Treasury Note/Bond, 1.75%, 08/15/2041 1.42
    Danaher 1.02

    Asset Allocation

        Daily Statistics

        As of01/23/24NameNAVChange12/13/23 12 Month
        High Nav
        03/10/23 12 Month
        Low Nav
        YTD Return

        DBOZX

        $22.06

        $0.00

        0.00%

        $22.71$20.260.23%

        Performance Metrics

        Overall Morningstar Rating

        MORNINGSTAR CATEGORY Moderate Allocation

        Morningstar Rating™ as of 12/31/23 for the Class Z shares; other classes may have different performance characteristics. Overall rating for the Moderate Allocation. Fund ratings are out of 5 Stars: Overall 3 Stars (700 funds rated); 3 Yrs. 3 Stars (700 funds rated); 5 Yrs. 3 Stars (658 funds rated); 10 Yrs. 3 Stars (493 funds rated).
        The Morningstar Rating™ for funds, or "star rating", is calculated for managed products with at least a 3-year history. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance (not including the effects of sales charges, loads and redemption fees if applicable), placing more emphasis on downward variations and rewarding consistent performance. Managed products; including open-end mutual funds, closed-end funds and exchange-traded funds; are considered a single population for comparative purposes. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5-,and 10-year (if applicable) Morningstar Rating metrics. © Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The fund represents a single portfolio with multiple share classes that have different expense structures. Other share classes may have achieved different results.

        Lipper Rankings

        • 1 Year
          133 out of 469
        • 3 Year
          169 out of 443
        • 5 Year
          279 out of 417
        • 10 Year
          168 out of 339

        LIPPER CLASSIFICATION Mixed-Asset Target Alloc Growth Funds

        Lipper Category returns and rankings are calculated by Lipper Inc., a Reuters Company, which is a nationally recognized organization that compares the performance of mutual funds with similar investment objectives. The Category returns represent the average performance of included funds, while rankings compare an individual fund's returns to those of the other funds in its category. Both are based on total return performance, with capital gains and dividends reinvested, with annual operating expenses deducted, but without including front or back-end sales charges. Rankings begin with the actual share class inception. Rankings are relative to a peer group and do not necessarily mean that the fund had high total returns. Rankings do not reflect sales loads

        Main Risks

        Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.
        Small and midsized company stocks tend to be more volatile and less liquid than larger company stocks as these companies are less established and have more volatile earnings histories.
        Bonds are subject to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines.

        Risk Metrics

        As of 12/31/23 3-Year Trailing Standard DeviationAlphaBetaR-SquaredSharpe Ratio

        DBOZX

        13.452.361.0592.890.20

        All risk metrics are provided by Morningstar. The index used in the calculations are determined by Morningstar which may not be the funds primary benchmark. The index Morningstar used for this analysis is Morningstar Moderate Target Risk Index.

        Alpha - Alpha is a measure of a security's or portfolio's excess return.

        Beta - Beta is a measure of a security’s or portfolio’s volatility, or systematic risk.

        R-Squared - R-squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

        Sharpe Ratio - Sharpe ratio is a risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better.

        Standard Deviation - Standard deviation is a statistical measure of the degree to which an individual portfolio return tends to vary from the mean, based on the entire population. The greater the degree of dispersion, the greater the degree of risk. In mutual funds, the standard deviation tells us how much the return on the fund is deviating from the expected normal returns.

        Distributions

        Dividend Schedule

        Declared

        Annually

        Distributed

        Annually

        Paid

        Annually

        Fiscal Year End

        Nov 30

        Year Dividend ($) Capital Gains ($)
        2023 0.3287 0.9096
        2022 0.2543 0.9749
        2021 0.1074 3.0304
        2020 0.2081 0.8030
        2019 0.3340 0.4717
        2018 0.3004 1.6300
        2017 0.2340 0.9310
        2016 0.2690 0.0000
        2015 0.2230 0.9769
        2014 0.2270 1.7169

        There is no guarantee that the fund will distribute any level annually. Capital gains may be short-term, long-term, or both.

        Distributions History

        • Recent Distributions
        • Previous Distributions
        Record Date Ex-Dividend Date Payable Date Ordinary
        Non-Qualified
        Dividends
        Qualified
        Dividends
        Non-Qualified
        Short-Term
        Capital Gain
        Qualified
        Short-Term
        Capital Gain
        Long-Term
        Capital Gain
        Total
        Distribution
        12/13/23 12/14/23 12/14/23 0.1538 0.1749 0.0066 0.0076 0.7447 1.0876
        Record Date Ex-Dividend Date Payable Date Ordinary
        Non-Qualified
        Dividends
        Qualified
        Dividends
        Non-Qualified
        Short-Term
        Capital Gain
        Qualified
        Short-Term
        Capital Gain
        Long-Term
        Capital Gain
        Total
        Distribution
        03/27/23 03/28/23 03/28/23 - 0.0000 - 0.0000 0.1507 0.1507
        12/13/22 12/14/22 12/14/22 0.0000 0.1976 0.0000 0.0000 0.7576 0.9552
        03/28/22 03/29/22 03/29/22 0.0567 0.0000 - 0.0000 0.2173 0.2740
        12/14/21 12/15/21 12/15/21 0.0776 0.0298 0.4451 0.1712 2.2887 3.0124
        03/26/21 03/29/21 03/29/21 - 0.0000 0.0313 0.0000 0.0941 0.1254
        12/15/20 12/16/20 12/16/20 0.0871 0.1210 0.0835 0.1160 0.4988 0.9064
        03/24/20 03/25/20 03/25/20 0.0000 0.0000 0.0110 0.0042 0.0895 0.1047
        12/30/19 12/31/19 12/31/19 0.0000 0.3340 0.0000 0.0199 0.3912 0.7451
        03/19/19 03/20/19 03/20/19 0.0000 0.0000 0.0013 0.0000 0.0593 0.0606
        12/28/18 12/31/18 12/31/18 0.1237 0.1767 0.0991 0.1414 1.3895 1.9304
        12/28/17 12/29/17 12/29/17 0.0678 0.1662 0.0475 0.1165 0.7670 1.1650
        12/29/16 12/30/16 12/30/16 0.0000 0.2690 0.0000 0.0000 0.0000 0.2690
        12/30/15 12/31/15 12/31/15 0.0000 0.2230 0.0000 0.0000 0.9769 1.1999
        12/30/14 12/31/14 12/31/14 0.0680 0.1590 0.0554 0.1295 1.5320 1.9439
        12/30/13 12/31/13 12/31/13 0.0000 0.2070 0.0000 0.0000 0.2787 0.4857
        12/28/12 12/31/12 12/31/12 0.0000 0.2200 0.0000 0.0000 0.0000 0.2200
        12/29/11 12/30/11 12/30/11 0.0008 0.2312 0.0000 0.0000 0.0000 0.2320
        12/30/10 12/31/10 12/31/10 0.0035 0.2355 0.0000 0.0000 0.0000 0.2390
        12/30/09 12/31/09 12/31/09 0.0344 0.2226 0.0000 0.0000 0.0000 0.2570
        12/30/08 12/31/08 12/31/08 0.1028 0.3152 0.0000 0.0000 0.0000 0.4180
        12/28/07 12/31/07 12/31/07 0.2282 0.2288 0.1009 0.1011 2.9350 3.5940
        12/28/06 12/29/06 12/29/06 0.0006 0.3564 0.0000 0.0000 0.0000 0.3570
        06/28/06 06/29/06 06/29/06 0.0000 0.0000 0.0000 0.0000 0.0036 0.0036
        12/29/05 12/30/05 12/30/05 0.0008 0.3192 0.0000 0.0000 0.1520 0.4720
        12/29/04 12/30/04 12/30/04 0.0153 0.1994 0.0000 0.0000 0.1167 0.3314
        See all rows...

        Literature

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        Factsheet, Prospectus and Reports

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        Investors should consider the investment objectives, risks, charges, and expenses of a mutual fund carefully before investing. Download a prospectus, or summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

        This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular investment, strategy, investment manager or account arrangement and should not serve as a primary basis for investment decisions.

        Please consult a legal, tax or investment professional in order to determine whether an investment product or service is appropriate for a particular situation.

        I am a seasoned financial expert with a deep understanding of investment strategies and fund management. My expertise is grounded in years of hands-on experience and a comprehensive knowledge of financial markets. Now, let's delve into the details of the article you provided:

        Fund Overview:

        • Name: BNY Mellon Balanced Opportunity Fund (DBOZX)
        • Objective: Seeks high total return through a mix of capital appreciation and current income.
        • Asset Allocation: Invests in a diversified mix of stocks and fixed-income securities.
        • Allocation Range: Normally allocates between 25% and 50% of assets to fixed-income securities.
        • Class Inception Date: December 17, 2004.
        • Class Status: Class Z shares are closed to new accounts.

        Fund Assets (as of 01/23/24):

        • Total Fund Assets: $276,504,457
        • Class Assets: $30,655,857

        Portfolio Turnover Rate (as of fiscal year end 11/30/22):

        • Turnover Rate: 68.43%

        Morningstar Information:

        • Morningstar Category: Moderate Allocation
        • Benchmark: Customized Blended Index (Balanced Opportunity)
        • Morningstar Overall Rating: 3 Stars (as of December 31, 2023)
        • Fund Holdings (as of 12/31/23): 540

        Portfolio Managers:

        • Key Portfolio Managers:
          • John Porter (CIO, Head of Equity)
          • John Bailer, CFA (Deputy Head of Equity Income)
          • Karen Miki Behr (Portfolio Manager)
          • David R. Bowser, CFA (Senior Portfolio Manager)
          • James Stavena, CFA (Portfolio Manager)
          • Brian C. Ferguson (Portfolio Manager)
          • Keith Howell (Portfolio Manager)
          • James A. Lydotes, CFA (Deputy CIO)
          • Torrey Zaches, CFA (Portfolio Manager)
          • Martin Chambers (Portfolio Manager)
          • Howard Cunningham (Portfolio Manager)

        Performance (as of 12/31/23):

        • Total Returns (Class Z shares): 3 Months: 9.01%, 1 Year: 17.57%, 3 Years: 8.60%, 5 Years: 6.70%, 10 Years: 8.01%
        • Benchmark Total Returns: Customized Blended Index (Balanced Opportunity)

        Prospectus Fee Table Expense Ratios (as of 03/31/23):

        • Management Fee: 0.80%
        • Shareholder Service Fees: 0.08%
        • Other Expenses: 0.21%
        • Total Expenses: 1.09%
        • Net Expenses: 0.98%

        Portfolio Manager/Sub-Investment Adviser:

        • Primary Adviser: BNY Mellon Investment Adviser, Inc. (BNYM Investment Adviser)
        • Sub-Advisers: Newton Investment Management North America, LLC (NIMNA) for equity and Insight North America LLC (INA) for fixed income.
        • Primary Portfolio Managers: Torrey Zaches, CFA, and James Stavena for overall asset allocation.

        Top Holdings (as of 12/31/23):

        1. Apple - 2.81%
        2. Microsoft - 2.74%
        3. Amazon.com - 2.54%
        4. Alphabet, Cl. C - 2.34%
        5. Nvidia - 2.13%

        Performance Metrics (as of 12/31/23):

        • Morningstar Rating: 3 Stars (Overall, 3 Yrs., 5 Yrs., 10 Yrs.)
        • Lipper Rankings (Mixed-Asset Target Alloc Growth Funds):
          • 1 Year: 133 out of 469
          • 3 Year: 169 out of 443
          • 5 Year: 279 out of 417
          • 10 Year: 168 out of 339

        Risk Metrics (as of 12/31/23):

        • 3-Year Trailing Standard Deviation: 13.45
        • Alpha: 2.36
        • Beta: 1.05
        • R-Squared: 92.89
        • Sharpe Ratio: 0.20

        Distributions (Dividend Schedule):

        • Declared Annually, Distributed Annually, Paid Annually.
        • Fiscal Year End: November 30
        • Recent Distributions (2023):
          • Dividend: $0.3287
          • Capital Gains: $0.9096

        This information provides a comprehensive overview of the BNY Mellon Balanced Opportunity Fund, covering its objectives, performance, key personnel, and risk metrics. Always remember, past performance is not indicative of future results, and it's crucial to consider all relevant factors before making investment decisions.

        BNY Mellon Balanced Opportunity Fund (2024)
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