Fund Evaluator:

BNY Mellon Developed Markets RE Scs - C Overview

BNY Mellon Developed Markets RE Scs - C (DGBCX) is an actively managed Sector Equity Global Real Estate fund. BNY Mellon launched the fund in 2008.

The investment seeks to maximize total return consisting of capital appreciation and current income. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in publicly-traded equity securities of companies principally engaged in the real estate sector. It normally invests in a global portfolio of equity securities of real estate companies, including real estate investment trusts (REITs) and real estate operating companies, with principal places of business located in, but not limited to, the developed markets of Europe, Australia, Asia and North America (including the United States).

About BNY Mellon Developed Markets RE Scs - C (DGBCX)

There are 2 members of the management team with an average tenure of 16.36 years: Dean Frankel (2006), Eric Briddell (2013). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and FTSE EPRA Nareit Developed NR USD index with a weighting of 100%. BNY Mellon Developed Markets RE Scs - C has 117 securities in its portfolio. The top 10 holdings constitute 37.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

BNY Mellon Developed Markets RE Scs - C is part of the Equity global asset class and is within the Sector Equity fund group. BNY Mellon Developed Markets RE Scs - C has 32.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 66.5%. There is 32.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). BNY Mellon Developed Markets RE Scs - C has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $46 million in total assets, which is below the $209 million average for the Global Real Estate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

DGBCX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The BNY Mellon Developed Markets RE Scs - C expense ratio is high compared to funds in the Global Real Estate category. BNY Mellon Developed Markets RE Scs - C has an expense ratio of 2.05%, which is 78% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. BNY Mellon Developed Markets RE Scs - C has a portfolio turnover rate of 39%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 71% for the Global Real Estate category.

Recently, in the month of July 2026, BNY Mellon Developed Markets RE Scs - C returned 2.2%, which earned it a grade of D, as the Global Real Estate category had an average return of 2.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

BNY Mellon Developed Markets RE Scs - C has a trailing yield of 1.04%, which is below the 2.74% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

BNY Mellon Developed Markets RE Scs - C Grades

Year to date, the fund has returned 13.5%, 2.5 percentage points better than the category, which translates into a grade of B. The fund has returned 17.8% over the past year (grade of B), 9.7% over the past three years (grade of B) and 2.1% per year over the past five years (grade of B) and 4.0% per year over the past 10 years (grade of C).

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