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    BNY Mellon Opportunistic Municipal Securities Fund

    Overview

    Why invest in this Fund?

    The fund seeks to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal personal income tax. Typically, the fund invests substantially all of its assets in such municipal bonds.

    The fund invests at least 70% of its net assets in municipal bonds rated, at the time of purchase, investment grade (i.e., Baa/BBB or higher) or the unrated equivalent as determined by Insight North America LLC, the fund's sub-adviser. For additional yield, the fund may invest up to 30% of its net assets in municipal bonds rated, at the time of purchase, below investment grade ("high yield" or "junk" bonds) or the unrated equivalent as determined by the fund's sub-adviser.
    Min. Class Investment
    $1,000
    Class Inception Date
    11/26/86
    Fund Assets
    $419,333,276  As of  08/25/25
    Class Assets
    $119,941,976  As of  08/25/25
    Portfolio Turnover Rate
    18.17% As of fiscal year end  04/30/25
    Morningstar Category
    Municipal National Long
    Benchmark
    Bloomberg U.S. Municipal Bond Index
    Morningstar Overall Rating
    Fund Holdings
    241 As of 07/31/25
    AVERAGE EFFECTIVE MATURITY
    17.66 yr(s).  As of  07/31/25
    AVERAGE EFFECTIVE DURATION
    7.84 yr(s).  As of 07/31/25
    Yield To Worst
    4.81% As of 07/31/25

    Morningstar Rating™ as of July 31, 2025 for the Class A class shares; other classes may have different performance characteristics. Overall rating for the Municipal National Long category. Fund ratings are out of 5 Stars: Overall 3 Stars (165 funds rated); 3 Yrs. 3 Stars (165 funds rated); 5 Yrs. 3 Stars (157 funds rated); 10 Yrs. 3 Stars (115 funds rated).

    Yields and Expense Ratio

    SUBSIDIZED
    as of 08/25/25     		UNSUBSIDIZED
    as of 08/25/25     		ANNUALIZED DISTRIBUTION RATE
    as of 07/31/25     		TAXABLE EQUIVALENT DISTRIBUTION *
    as of
    07/31/25     		PROSPECTUS FEE TABLE EXPENSE RATIO (%)
    as of 08/30/24     		CONTRACTUAL
    FEE WAIVER END DATE
    30-DAY SEC YIELD TAXABLE EQUIVALENT YIELD * 30-DAY SEC YIELD TAXABLE EQUIVALENT YIELD * Net Gross
    3.73 6.30 3.73 6.30 3.37 5.69 0.76 0.76 -

    Yield fluctuates and past performance is no guarantee of future results.

    The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.

    Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.

    The taxable-equivalent yield is the return that a taxable bond fund needs to possess for its yield to equal the yield on a comparable tax-exempt bond fund, such as a municipal bond fund.

    Tax rates are subject to change; please consult with your financial or tax professional for information concerning your specific situation.

    * Based on maximum combined federal and Medicare tax of 40.80%. Other taxes not included.

    Portfolio Turnover Rate - It is a measure of how quickly securities in a fund are either bought or sold by the fund's managers, over a given period of time.

    Average Effective Maturity (AEM) - is a measure of maturity that takes into account the possibility that a bond might be called back by the issuer. For a portfolio of bonds, average effective maturity is the weighted average of the maturities of the underlying bonds.

    Average Effective Duration - It is used to measure the market price sensitivity of the fund’s portfolio holdings to changes in interest-rates. Duration is not a complete measure of bond risk and may not be successful.

    Yield To Worst - The holding-weighted average rate of return for a portfolio equal to the discount rate of interest and principal cash flows where the principal is returned at the earliest allowable date. If the earliest return of principal is at the stated maturity the Yield to Maturity % will be the same as the Yield to Worst %.

    Portfolio Managers

    • Jeffrey Burger

      Jeffrey Burger, CFA

      Senior Portfolio Manager, Insight North America, LLC

      Managing Fund Since 2014

      Joined Firm in 2009

      Joined Industry in 2000
    • Daniel Rabasco

      Daniel Rabasco, CFA

      Head of Municipal Bonds, Insight North America LLC

      Managing Fund Since 2012

      Joined Firm in 1998

      Joined Industry in 1987
    Performance

    Total Returns

    Click here to see SALES CHARGE  Max Sales Charge:  4.50%  Front End Load

    Month End

    Average Annual
    As of 07/31/25
    Name 3 MO
    07/31/25     		YTD
    07/31/25     		1 YR 3 YRS 5 YRS 10 YRS Since Inception
    BNY Mellon Opportunistic Municipal Securities Fund
    PTEBX
    		-5.26 -6.79 -6.20 -0.38 -0.91 1.41 4.33
    Bloomberg U.S. Municipal Bond Index
    		0.48 -0.55 0.00 1.54 0.13 2.11 -

    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 Opportunistic Municipal Securities Fund
    PTEBX
    		-5.52 -6.11 -4.89 0.68 -0.40 1.57 4.36
    Bloomberg U.S. Municipal Bond Index
    		-0.12 -0.35 1.11 2.50 0.51 2.20 -

    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 Bloomberg U.S. Municipal Bond Index covers the U.S. dollar-denominated long-term tax-exempt bond market. Investors cannot invest directly in any index.

     

    When applicable, returns reflect a contractual expense reduction, without which returns would have been lower. Please see contractual expense reduction information, if any, in the Prospectus Fee Table below.

    Growth of $10,000 Investment

    Past performance is no guarantee of future results.

    Historical Performance

       

      Monthly

      Past performance is no guarantee of future results.

      Yearly

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

      Fees & Expenses

      Prospectus Fee Table Expense Ratios

      As of  08/30/24 Fee Description Expense Ratio (%)
      Management Fee 0.35%
      Service Fee 0.25%
      Other Expenses 0.16%
      Total Expenses 0.76%
      Net Expenses 0.76%
      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.

      Sales Charge

      There is a 1% CDSC for purchases of $1,000,000 and over if redeemed within one year of purchase.

      Portfolio

      Portfolio Manager/Sub-Investment Adviser

      The fund's investment adviser is BNY Mellon Investment Adviser, Inc. (BNYIA). BNYIA has engaged its affiliate, Insight North America LLC (INA), to serve as the fund's sub-adviser. Jeffrey Burger, CFA and Daniel Rabasco, CFA are the fund's primary portfolio managers, positions they have held since May 2014 and February 2012, respectively. Mr. Burger is a senior portfolio manager for tax-sensitive strategies at INA. Mr. Rabasco is the head of municipal bond strategies at INA.
      Download Total Holdings

      Asset Allocation

          Stats & Risks

          Daily Statistics

          As of 08/25/25 Name NAV Change 10/01/24  12 Month 
          High Nav           		04/09/25  12 Month 
          Low Nav           		YTD Return
          PTEBX
          		$11.64
          $0.00
          0.00%
          		$12.39 $11.46 -1.75%

          Yield fluctuates and past performance is no guarantee of future results.

          The SEC 30-day Yield is calculated by dividing the net investment income per share earned during the period (calculated in accordance with regulatory guidelines) by the maximum offering price per share on the last day of the period.

          Unsubsidized yield displays what the fund's 30-Day SEC Yield would have been had no fee waiver or expense reimbursement been in place during the period.

          Performance Metrics

          Overall Morningstar Rating

          MORNINGSTAR CATEGORY Municipal National Long

          Morningstar Rating™ as of 07/31/25 for the Class A shares; other classes may have different performance characteristics. Overall rating for the Municipal National Long. Fund ratings are out of 5 Stars: Overall 3 Stars (165 funds rated); 3 Yrs. 3 Stars (165 funds rated); 5 Yrs. 3 Stars (157 funds rated); 10 Yrs. 3 Stars (115 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
            218 out of 298
          • 3 Year
            177 out of 287
          • 5 Year
            133 out of 270
          • 10 Year
            104 out of 198

          LIPPER CLASSIFICATION General & Insured Municipal Debt Funds

          Lipper Category returns and rankings as of 07/31/25, 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

          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.
          Municipal income may be subject to state and local taxes. Some income may be subject to the federal alternative minimum tax for certain investors. Capital gains, if any, are taxable.
          High yield bonds involve increased credit and liquidity risk than higher rated bonds and are considered speculative in terms of the issuer's ability to pay interest and repay principal on a timely basis.

          Risk Metrics

          As of  07/31/25  3-Year Trailing Standard Deviation Alpha Beta R-Squared Sharpe Ratio
          PTEBX
          		6.93 -0.39 1.00 97.60 -0.50

          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 Bloomberg U.S. Municipal Bond 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
          Daily
          Distributed
          Monthly
          Paid
          Monthly
          Fiscal Year End
          Apr 30

          Annualized distribution rate is based upon dividends per share from net investment income paid during the period, divided by the period ended maximum offering price per share, adjusted for capital gains (IF ANY) distributed during the period, and annualized based upon the number of days in the distribution period.

          Month/Year Dividend ($)
          07/2025 0.034786621
          06/2025 0.031639134
          05/2025 0.035431797
          04/2025 0.032997218
          03/2025 0.031635747
          02/2025 0.030572240
          01/2025 0.035025642
          12/2024 0.033501242
          11/2024 0.033034509
          10/2024 0.032710350
          09/2024 0.029624072
          08/2024 0.034696063

          All figures as of month-end. Dividend history does not reflect any capital gains that may have been paid

          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
          12/22/22 12/23/22 12/23/22 0.0000 0.0000 0.0009 0.0000 0.0293 0.0302
          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
          12/22/21 12/23/21 12/23/21 0.0000 0.0000 0.0000 0.0000 0.0573 0.0573
          12/22/20 12/23/20 12/23/20 0.0000 0.0000 0.0007 0.0000 0.0266 0.0273
          12/27/18 12/28/18 12/28/18 0.0000 0.0000 0.0051 0.0000 0.0000 0.0051
          12/18/13 12/19/13 12/19/13 0.0000 0.0000 0.0038 0.0000 0.0000 0.0038
          12/12/12 12/13/12 12/13/12 0.0000 0.0000 0.0068 0.0000 0.0000 0.0068
          12/07/99 12/08/99 12/08/99 0.0000 0.0000 0.0000 0.0000 0.0000 0.1603
          12/07/98 12/08/98 12/08/98 0.0000 0.0000 0.0198 0.0000 0.0000 0.2067
          12/03/97 12/04/97 12/04/97 0.0000 0.0000 0.0000 0.0000 0.0000 0.0841
          12/04/96 12/05/96 12/05/96 0.0000 0.0000 0.0075 0.0000 0.0000 0.0075
          12/02/93 12/03/93 12/06/93 0.0000 0.0000 0.0000 0.0000 0.0000 0.0496
          11/24/92 11/25/92 11/30/92 0.0000 0.0000 0.0849 0.0000 0.0000 0.2119
          Literature

          Literature

          PRODUCT MATERIALS

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          WHY MUNICIPALS ARE MORE THAN JUST TAX BENEFITS - BROCHURE Download
          BNY Mellon Municipal Funds Breakpoint Pricing Download
          BNY Mellon Opportunistic Municipal Securities Fund - Enhanced Factsheet Download
          MUNICIPAL BOND FRANCHISE PITCHBOOK Download
          BNY Mellon Opportunistic Municipal Securities 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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