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    BNY Mellon Global Real Return Fund

    Overview

    Why invest in this Fund?

    The fund seeks total return (consisting of capital appreciation and income). To pursue its investment objective, the fund uses an actively-managed multi-asset strategy to produce absolute or real returns with less volatility than major equity markets over a complete market cycle, typically a period of five years. Rather than managing to track a benchmark index, the fund seeks to provide returns that are largely independent of market moves.

    Min. Class Investment
    $1,000
    Class Inception Date
    05/12/10
    Fund Assets
    $863,362,388  As of  09/23/25
    Class Assets
    $27,684,898  As of  09/23/25
    Portfolio Turnover Rate
    77.47% As of fiscal year end  10/31/24
    Morningstar Category
    Tactical Allocation
    Benchmark
    SOFR 1-Month Compounded USD
    Morningstar Overall Rating
    Fund Holdings
    107 As of 08/31/25

    Morningstar Rating™ as of August 31, 2025 for the Class A class shares; other classes may have different performance characteristics. Overall rating for the Tactical Allocation category. Fund ratings are out of 5 Stars: Overall 3 Stars (226 funds rated); 3 Yrs. 2 Stars (226 funds rated); 5 Yrs. 2 Stars (200 funds rated); 10 Yrs. 3 Stars (132 funds rated).

    Portfolio Managers

    • Ella Hoxha

      Ella Hoxha

      Portfolio Manager, Newton Investment Management

      Managing Fund Since May 2025

      Joined Firm in 2023

      Joined Industry in 2003
    • Nick Pope

      Nick Pope

      Portfolio Manager, Newton Investment Management

      Managing Fund Since May 2025

      Joined Firm in 2011

      Joined Industry in 2005
    • Aron Pataki

      Aron Pataki

      Portfolio Manager, Newton

      Managing Fund Since 2015

      Joined Firm in 2006

      Joined Industry in 2002
    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 Global Real Return Fund
    DRRAX
    		4.07 5.44 6.68 4.88 3.53 4.06 4.12
    SOFR 1-Month Compounded USD
    		1.07 2.87 4.53 4.70 2.89 - -

    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 Global Real Return Fund
    DRRAX
    		3.05 4.00 6.50 4.31 4.50 3.89 4.07
    SOFR 1-Month Compounded USD
    		1.06 2.13 4.70 4.54 2.75 - -

    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 SOFR Index measures the cumulative impact of compounding the SOFR on a unit of investment over time, with the initial value set to 1.00000000 on April 2, 2018, the first value date of the SOFR. The SOFR Index value reflects the effect of compounding the SOFR each business day and allows the calculation of compounded SOFR averages over custom time periods. Investors cannot invest directly in any index.


    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

       

      Yearly Total Return

      Yearly

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      As of  02/28/25 Fee Description Expense Ratio (%)
      Management Fee 0.75%
      Service Fee 0.25%
      Other Expenses 0.18%
      Acquired Fund Fees & Expenses 0.03%
      Sub-Accounting/Omnibus Plan 0.03%
      Total Expenses 1.24%
      Expenses Reimbursed 0.06%
      Net Expenses 1.18%
      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 .90%. On or after February 28, 2026, BNY Mellon Investment Adviser, Inc. may terminate this expense limitation agreement at any time. Because "acquired fund fees and expenses" are incurred indirectly by the fund, as a result of its investments in underlying funds, such fees and expenses are not included in the expense limitation.

      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 Limited (NIM), to serve as the fund's sub-adviser. NIM has entered into a sub-sub-investment advisory agreement with its affiliate, Newton Investment Management North America, LLC (NIMNA), to enable NIMNA to provide certain advisory services to NIM for the benefit of the fund.
      Aron Pataki, Ella Hoxha and Nick Pope are the fund's primary portfolio managers. Mr. Pataki has been a portfolio manager of the fund since December 2015. Ms. Hoxha and Mr. Pope have been primary portfolio managers of the fund since May 2025. Mr. Pataki is a global investment manager and member of the real return team at NIM. Ms. Hoxha is lead portfolio manager across several Absolute Return Mandates at NIM. Mr. Pope is a portfolio manager on the Sustainable Equity strategy at NIM.

      Top Holdings

      Download Total Holdings
      As of 08/31/25

      Asset Allocation

          Stats & Risks

          Daily Statistics

          As of 09/23/25 Name NAV Change 12/06/24  12 Month 
          High Nav           		04/07/25  12 Month 
          Low Nav           		YTD Return
          DRRAX
          		$16.46
          -$0.03
          -0.18%
          		$16.56 $14.23 7.79%

          Performance Metrics

          Overall Morningstar Rating

          MORNINGSTAR CATEGORY Tactical Allocation

          Morningstar Rating™ as of 08/31/25 for the Class A shares; other classes may have different performance characteristics. Overall rating for the Tactical Allocation. Fund ratings are out of 5 Stars: Overall 3 Stars (226 funds rated); 3 Yrs. 2 Stars (226 funds rated); 5 Yrs. 2 Stars (200 funds rated); 10 Yrs. 3 Stars (132 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
            45 out of 93
          • 3 Year
            59 out of 88
          • 5 Year
            59 out of 86
          • 10 Year
            23 out of 56

          LIPPER CLASSIFICATION Absolute Return Funds

          Lipper Category returns and rankings as of 08/31/25, 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.
          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.
          The use of 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.

          Risk Metrics

          As of  08/31/25  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          DRRAX
          		6.38 -2.79 0.48 69.23 0.01

          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
          Oct 31
          Annualized Distribution Rate
          %
          As of 
          Year Dividend ($) Capital Gains ($)
          2024 0.7767 0.0000
          2022 1.3535 0.0000
          2021 0.2575 0.0000
          2020 0.1992 0.0000
          2019 0.3289 0.0000
          2018 0.4730 0.0000
          2017 0.0628 0.0000
          2016 0.3858 0.0000
          2015 0.5700 0.0000
          2014 0.6830 0.0085

          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
          12/27/24 12/30/24 12/30/24 0.6308 0.1459 0.0000 0.0000 0.0000 0.7767
          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
          12/28/22 12/29/22 12/29/22 1.1525 0.2010 0.0000 0.0000 0.0000 1.3535
          12/29/21 12/30/21 12/30/21 0.1197 0.1378 0.0000 0.0000 0.0000 0.2575
          12/29/20 12/30/20 12/30/20 0.0989 0.1003 0.0000 0.0000 0.0000 0.1992
          12/27/19 12/30/19 12/30/19 0.2781 0.0508 0.0000 0.0000 0.0000 0.3289
          12/27/18 12/28/18 12/28/18 0.3176 0.1554 0.0000 0.0000 0.0000 0.4730
          12/27/17 12/28/17 12/28/17 0.0000 0.0628 0.0000 0.0000 0.0000 0.0628
          12/28/16 12/29/16 12/29/16 0.2476 0.1382 0.0000 0.0000 0.0000 0.3858
          12/29/15 12/30/15 12/30/15 0.3662 0.2038 0.0000 0.0000 0.0000 0.5700
          12/29/14 12/30/14 12/30/14 0.4231 0.2599 0.0000 0.0000 0.0000 0.6830
          03/28/14 03/31/14 03/31/14 0.0000 0.0000 0.0000 0.0000 0.0085 0.0085
          12/27/13 12/30/13 12/30/13 0.0000 0.0360 0.0000 0.1004 0.0243 0.1607
          12/27/12 12/28/12 12/28/12 0.0000 0.0670 0.0000 0.0000 0.0000 0.0670
          12/28/11 12/29/11 12/29/11 0.0000 0.0671 0.0000 0.0381 0.0351 0.1403
          See all rows...
          Literature

          Literature

          PRODUCT MATERIALS

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          BNY Mellon Global Real Return Fund - Poised for Consistency Download
          BNY Mellon Global Real Return Fund - Enhanced Factsheet Download
          BNY Mellon Global Real Return Fund - Presentation Download
          BNY Mellon Global Real 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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