Fund Evaluator:

BNY Mellon Short Term Municipal Bd D Overview

BNY Mellon Short Term Municipal Bd D (DSIBX) is an actively managed Municipal Bond Muni National Short fund. BNY Mellon launched the fund in 1987.

The investment seeks to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. The fund normally invests substantially all of its net assets in municipal bonds that provide income exempt from federal personal income tax. It invests principally in municipal bonds with remaining maturities of five years or less and generally maintains a dollar-weighted average portfolio maturity of one to three years. The fund invests at least 80% of its net assets in municipal bonds rated, at the time of purchase, investment grade or the unrated equivalent as determined by the fund's sub-adviser.

About BNY Mellon Short Term Municipal Bd D (DSIBX)

There are 2 members of the management team with an average tenure of 14.90 years: Jeffrey Burger (2012), Thomas Casey (2011). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg Municipal 1-3 Yr TR USD index with a weighting of 100%. BNY Mellon Short Term Municipal Bd D has 115 securities in its portfolio. The top 10 holdings constitute 20.4% 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 Short Term Municipal Bd D is part of the Fixed Income global asset class and is within the Municipal Bond fund group. BNY Mellon Short Term Municipal Bd D has 2.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.5% (96.9% domestic bond, 2.6% foreign bond and 0.0% convertible bond). BNY Mellon Short Term Municipal Bd D has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $83 million in total assets, which is below the $633 million average for the Muni National Short 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.

DSIBX 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 Short Term Municipal Bd D expense ratio is average compared to funds in the Muni National Short category. BNY Mellon Short Term Municipal Bd D has an expense ratio of 0.49%, which is 15% lower than its category average, making the fund expense ratio grade a C. 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 Short Term Municipal Bd D has a portfolio turnover rate of 43%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Muni National Short category.

Recently, in the month of July 2026, BNY Mellon Short Term Municipal Bd D returned -0.3%, which earned it a grade of B, as the Muni National Short category had an average return of -0.5%. 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 Short Term Municipal Bd D has a trailing yield of 2.66%, which is below the 2.78% category average. The fund normally distributes its income monthly 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 Short Term Municipal Bd D Grades

Year to date, the fund has returned 1.1%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 2.4% over the past year (grade of D), 3.1% over the past three years (grade of D) and 1.1% per year over the past five years (grade of D) and 1.2% per year over the past 10 years (grade of F).

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