Fund Evaluator:
BNY Mellon Natural Resources C (DLDCX)
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Best Performing in Natural Resources Over the Last Year
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Fund Details
BNY Mellon Natural Resources C Overview
BNY Mellon Natural Resources C (DLDCX) is an actively managed Sector Equity Natural Resources fund. BNY Mellon launched the fund in 2003.
The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in stocks of companies in the natural resources and natural resources related sectors. It invests in growth and value stocks and typically will maintain exposure to the major natural resources sectors. The fund may invest in companies of any market capitalization. It may invest in foreign securities, including emerging markets securities, without limitation.
About BNY Mellon Natural Resources C (DLDCX)
There are 3 members of the management team with an average tenure of 2.85 years: David Intoppa (2020), Brock Campbell (2023), Alex Trombetta (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P Composite 1500 (TR) USD index with a weighting of 100% and S&P Global Natural Resources TR USD index with a weighting of 100%. BNY Mellon Natural Resources C has 41 securities in its portfolio. The top 10 holdings constitute 41.7% 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 Natural Resources C is part of the Equity global asset class and is within the Sector Equity fund group. BNY Mellon Natural Resources C has 30.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 68.2%. There is 30.3% 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 Natural Resources C has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $15 million in total assets, which is below the $232 million average for the Natural Resources 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.
DLDCX 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 Natural Resources C expense ratio is high compared to funds in the Natural Resources category. BNY Mellon Natural Resources C has an expense ratio of 1.87%, which is 63% 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 Natural Resources C has a portfolio turnover rate of 95%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 60% for the Natural Resources category.
Recently, in the month of June 2026, BNY Mellon Natural Resources C returned -7.9%, which earned it a grade of D, as the Natural Resources category had an average return of -5.5%. 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 Natural Resources C has a trailing yield of 1.48%, which is below the 2.09% 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 Natural Resources C Grades
Year to date, the fund has returned 14.0%, 2.4 percentage points better than the category, which translates into a grade of B. The fund has returned 31.8% over the past year (grade of C), 10.6% over the past three years (grade of D) and 13.9% per year over the past five years (grade of B) and 11.7% per year over the past 10 years (grade of B).
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DLDCX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DLDCX Return (NAV) | -7.9% | -8.3% | 31.8% | 10.6% | 13.9% | 11.7% |
| DLDCX Grade | D | D | C | D | B | B |
| +/- Category | -2.4% | -4.2% | 0.0% | -2.6% | 3.2% | 2.2% |
| Natural Resources Avg | -5.5% | -4.1% | 31.8% | 13.2% | 10.8% | 9.5% |
| DLDCX Tax Cost Ratio | na | na | 0.7% | 1.9% | 1.8% | 1.0% |
DLDCX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DLDCX Return (NAV) | 14.0% | 13.9% | -0.0% | 0.8% | 33.3% | 37.2% | 5.5% | 15.5% | -18.4% | 12.9% | 26.8% |
| DLDCX Grade | B | F | C | C | A | A | D | C | C | C | C |
| +/- Category | 2.4% | -14.7% | 0.5% | -2.5% | 25.3% | 6.4% | -4.1% | 0.7% | 2.1% | -0.1% | -1.8% |
| Natural Resources Avg | 11.6% | 28.6% | -0.5% | 3.4% | 8.0% | 30.8% | 9.6% | 14.8% | -20.5% | 13.1% | 28.6% |
| Risk Measures | |
| Standard Deviation: | 18.9% |
| Total Risk Index: | 1.55 - High |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (72% Rank) |
| Beta: | 0.57 |
| R-Squared: | 14% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.5% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1105 Mil |
| Fund Total Assets: | $ 15 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 96% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 5.6 years | |||
| Average Tenure: 2.8 years | |||
| Managers (Year): Intoppa David (2020), Campbell Brock (2023), Trombetta Alex (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 41 |
| % in Top 10 Holdings: | 41.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 30.3% |
Portfolio Allocation |
|
| Domestic Stock: | 68.2% |
| Foreign Stock: | 30.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | BNY Mellon |
| Phone Number: | 800-373-9387 |
| Website: | https://im.bnymellon.com |
| Status: | Open |
| Inception Date: | October 31, 2003 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 750 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.75% |
Expenses and Fees | |
| Expense Ratio (%): | 1.87% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | BNY Mellon Natural Resources I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
