Investment objective & strategy
As of Dec. 29, 2025 · prospectusObjective. The fund seeks total return (consisting of capital appreciation and current income).
Strategy. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds. The fund's sub-adviser, Insight North America LLC (INA), an affiliate of BNY Mellon Investment Adviser, Inc. (BNYIA), actively manages bond market and maturity exposure and credit profile and uses a disciplined process to select bonds and manage risk. The process includes computer modeling and scenario testing of possible changes in market conditions. The fund's sub-adviser will use other techniques in an attempt to manage market risk and duration. The fund's investments in bonds must be rated investment grade (i.e., Baa/BBB or higher) at the time of purchase or, if unrated, deemed of comparable quality by the fund's … To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds. The fund's sub-adviser, Insight North America LLC (INA), an affiliate of BNY Mellon Investment Adviser, Inc. (BNYIA), actively manages bond market and maturity exposure and credit profile and uses a disciplined process to select bonds and manage risk. The process includes computer modeling and scenario testing of possible changes in market conditions. The fund's sub-adviser will use other techniques in an attempt to manage market risk and duration. The fund's investments in bonds must be rated investment grade (i.e., Baa/BBB or higher) at the time of purchase or, if unrated, deemed of comparable quality by the fund's sub-adviser. Investments in bonds may include government securities, corporate bonds and municipal securities. Generally, the fund's average effective portfolio maturity will be between 3 and 10 years and the average effective duration of the fund's portfolio will be between 2.5 and 5.5 years. Because of events affecting the bond markets and interest rate changes, the maturity and duration of the portfolio might not meet the foregoing targets at all times. The fund may invest in individual bonds of any maturity or duration. 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. The fund typically sells a security when the fund's sub-adviser believes that there has been a negative change in the credit quality of the issuer or has identified a more attractive opportunity or when the sub-adviser seeks to manage the fund's duration or tax position or to provide liquidity to meet shareholder redemptions.
Top holdings
As of Nov. 30, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $17.90M | 4.31% |
| US TREASURY N/B | — | $15.94M | 3.84% |
| US TREASURY N/B | — | $15.51M | 3.74% |
| US TREASURY N/B | — | $14.32M | 3.45% |
| US TREASURY N/B | — | $11.43M | 2.76% |
| US TREASURY N/B | — | $11.29M | 2.72% |
| US TREASURY N/B | — | $9.78M | 2.36% |
| US TREASURY N/B | — | $9.01M | 2.17% |
| US TREASURY N/B | — | $8.84M | 2.13% |
| US TREASURY N/B | — | $8.61M | 2.08% |
Portfolio moves
Aug 31, 2025 → Nov 30, 2025How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| BNY Mellon Active Core Bond ETF | 40% | 0.40% |
| JPMorgan BetaBuilders U.S. Treasury Bond 3-10 Year ETF · BBIB | 19% | 0.04% |
| VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND · VSIGX, VIIGX, VGIT | 18% | 0.03% |
Advisers
| Firm | Role |
|---|---|
| BNY Mellon Investment Adviser, Inc. | Adviser |
Footnotes
- Expense ratio as of December 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of November 30, 2025, from the fund's N-PORT filing.
- Total return for calendar year 2024, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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