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    BNY Mellon Dynamic Total Return Fund

    Overview

    Why invest in this Fund?

    The fund seeks total return. The fund pursues its goal by normally investing in instruments that provide investment exposure to global equity, bond, currency and commodity markets, and in fixed-income securities. The fund may invest in instruments that provide economic exposure to developed and, to a limited extent, emerging market issuers. The fund may invest up to 30% of its net assets in emerging market issuers and considers emerging market countries to be those included in the Morgan Stanley Capital International Emerging Markets Index.

    Min. Class Investment
    $1,000
    Class Inception Date
    05/02/06
    Fund Assets
    $76,520,662  As of  09/03/25
    Class Assets
    $21,951,962  As of  09/03/25
    Portfolio Turnover Rate
    4.30% As of fiscal year end  10/31/24
    Morningstar Category
    Macro Trading
    Benchmark
    FTSE Three-Month U.S. Treasury Bill Index
    Fund Holdings
    4 As of 07/31/25

    Portfolio Managers

    • James Stavena

      James Stavena, CFA

      Portfolio Manager, Newton Investment Management North America, LLC

      Managing Fund Since 2010

      Joined Firm in 1998

      Joined Industry in 1991
    • Torrey Zaches

      Torrey Zaches, CFA

      Portfolio Manager, Newton Investment Management North America, LLC

      Managing Fund Since 2010

      Joined Firm in 1998

      Joined Industry in 1994
    Performance

    Total Returns

    Click here to see SALES CHARGE  Max Sales Charge:  5.75%  Front End Load

    Month End

    Average Annual
    As of 08/31/25
    Name 3 MO
    08/31/25     		YTD
    08/31/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Dynamic Total Return Fund
    AVGAX
    		3.61 1.81 4.18 5.83 3.49 3.33 3.29

    Quarter End

    Average Annual
    As of 06/30/25
    Name 3 MO
    06/30/25     		YTD
    06/30/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Dynamic Total Return Fund
    AVGAX
    		1.32 0.22 1.31 7.64 4.37 2.64 3.23
    FTSE Three-Month U.S. Treasury Bill Index
    		1.09 2.21 4.88 4.75 2.88 2.01 -

    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 FTSE Three-Month U.S. Treasury Bill Index consists of the last three-month Treasury bill month-end rates. The FTSE Three-Month U.S. Treasury Bill Index measures return equivalents of yield averages. The instruments are not marked to market. Investors cannot invest directly in any index.

     

    Growth of $10,000 Investment

    Past performance is no guarantee of future results.

    Historical Performance

       

      Yearly Total Return

      Yearly

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      As of  02/28/25 Fee Description Expense Ratio (%)
      Management Fee 1.10%
      Service Fee 0.25%
      Other Expenses 0.74%
      Total Expenses 2.09%
      Expenses Reimbursed 0.69%
      Net Expenses 1.40%
      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, for so long as the fund invests in the subsidiary, to waive the management fee it receives from the fund in the amount equal to the management fee paid to BNY Mellon Investment Adviser, Inc. by the subsidiary. In addition, BNY Mellon Investment Adviser, Inc. has contractually agreed, until February 28, 2026, 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 1.15%. On or after February 28, 2026, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time.

      Sales Charge

      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYIA). BNYIA has engaged its affiliate, Newton Investment Management North America, LLC (NIMNA), to serve as the fund's sub-adviser. 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. Investment decisions for the fund are made by the Multi-Asset Solutions Team at NIMNA. The team members are James Stavena and Torrey Zaches, CFA. Messrs. Stavena and Zaches have been primary portfolio managers of the fund since June 2010. Mr. Stavena is Head of Portfolio Management, Multi-Asset Solutions at NIMNA. Mr. Zaches is a portfolio manager at NIMNA.

      Top Holdings

      Download Total Holdings
      As of 06/30/25

      Asset Allocation

          Stats & Risks

          Daily Statistics

          As of 09/03/25 Name NAV Change 12/04/24  12 Month 
          High Nav           		04/11/25  12 Month 
          Low Nav           		YTD Return
          AVGAX
          		$14.10
          $0.03
          0.21%
          		$15.25 $13.19 1.95%

          Main Risks

          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.
          Equities are subject to market, market sector, market liquidity, issuer, and investment style risks to varying degrees.
          Investing in foreign denominated and/or domiciled securities involves special risks, including changes in currency exchange rates, political, economic, and social instability, limited company information, differing auditing and legal standards, and less market liquidity. These risks generally are greater with emerging market countries. Short sales involve selling a security the portfolio does not own in anticipation that the security's price will decline. Short sales may involve risk and leverage, and expose the portfolio to the risk that it will be required to buy the security sold short at a time when the security has appreciated in value, thus resulting in a loss.
          Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be suitable for all investors.
          Derivatives and commodity-linked derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid, and difficult to value and there is the risk that changes in the value of a derivative held by the portfolio will not correlate with the underlying instruments or the portfolio's other investments. Commodity-linked derivative instruments may involve additional costs and risks such as commodity index volatility or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments.

          Risk Metrics

          As of  07/31/25  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          AVGAX
          		5.77 -2.48 0.26 40.72 0.03

          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 MSCI ACWI 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
          Oct 31
          Annualized Distribution Rate
          %
          As of 
          Year Dividend ($) Capital Gains ($)
          2024 1.2655 0.0000
          2023 0.6645 0.0000
          2022 0.1840 0.0000
          2021 0.0748 2.7426
          2019 0.1734 0.3310
          2018 0.1338 0.0000
          2017 0.0000 0.8172
          2016 0.0000 0.0294
          2014 0.0130 0.0000
          2008 0.3600 0.0000

          Distributions History

          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
          12/17/24 12/18/24 12/18/24 1.2655 0.0000 0.0000 0.0000 0.0000 1.2655
          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
          12/18/23 12/19/23 12/19/23 0.6645 0.0000 0.0000 0.0000 0.0000 0.6645
          12/19/22 12/20/22 12/20/22 0.1840 0.0000 0.0000 0.0000 0.0000 0.1840
          12/17/21 12/20/21 12/20/21 0.0748 0.0000 1.1668 0.0000 1.5758 2.8174
          12/20/19 12/23/19 12/23/19 0.1734 0.0000 0.2282 0.0000 0.1028 0.5044
          12/19/18 12/20/18 12/20/18 0.1190 0.0148 0.0000 0.0000 0.0000 0.1338
          12/21/17 12/22/17 12/22/17 0.0000 0.0000 0.4630 0.0275 0.3267 0.8172
          12/22/16 12/23/16 12/23/16 0.0000 0.0000 0.0000 0.0000 0.0294 0.0294
          03/28/14 03/31/14 03/31/14 0.0000 0.0130 0.0000 0.0000 0.0000 0.0130
          12/29/08 12/30/08 12/30/08 0.1354 0.2246 0.0000 0.0000 0.0000 0.3600
          12/27/07 12/28/07 12/28/07 0.2227 0.0423 0.1229 0.0234 0.0229 0.4342
          12/27/06 12/28/06 12/28/06 0.0660 0.0000 0.1207 0.0000 0.0412 0.2279
          Literature

          Literature

          PRODUCT MATERIALS

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          BNY Mellon Dynamic Total Return Fund - Commentary Download

          Factsheet, Prospectus and Reports

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          Prospectus Download
          Summary Prospectus Download
          SAI Download
          Annual Report - Class A Download
          Semi Annual Report - Class A Download
          Annual Financials and Other Information Download
          Semi Annual Financials and Other Information Download
          1Q Fiscal Holdings Download
          3Q Fiscal Holdings Download

          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.

           

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