Fund Evaluator:
BNY Mellon Global Fixed Income - I (SDGIX)
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Best Performing in Global Bond-USD Hedged Over the Last Year
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Fund Details
BNY Mellon Global Fixed Income - I Overview
BNY Mellon Global Fixed Income - I (SDGIX) is an actively managed Taxable Bond Global Bond-USD Hedged fund. BNY Mellon launched the fund in 1993.
The investment seeks to maximize total return while realizing a market level of income consistent with preserving principal and liquidity. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in U.S. dollar and non-U.S. dollar-denominated fixed-income securities of governments and companies located in various countries, including emerging markets. It may invest up to 25% of its assets in emerging markets.
About BNY Mellon Global Fixed Income - I (SDGIX)
There are 5 members of the management team with an average tenure of 6.61 years: Brendan Murphy (2011), Adam Whiteley (2023), Scott Zaleski (2018), Nathaniel Hyde (2022), Harvey Bradley (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg Global Aggregate TR Hdg USD index with a weighting of 100%. BNY Mellon Global Fixed Income - I has 668 securities in its portfolio. The top 10 holdings constitute 54.1% 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 Global Fixed Income - I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BNY Mellon Global Fixed Income - I has 44.8% 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 92.7% (47.9% domestic bond, 44.8% foreign bond and 0.0% convertible bond). BNY Mellon Global Fixed Income - I has 7.3% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $2 billion average for the Global Bond-USD Hedged 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.
SDGIX 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 Global Fixed Income - I expense ratio is average compared to funds in the Global Bond-USD Hedged category. BNY Mellon Global Fixed Income - I has an expense ratio of 0.54%, which is 26% lower than its category average, making the fund expense ratio grade a B. 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 Global Fixed Income - I has a portfolio turnover rate of 85%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 195% for the Global Bond-USD Hedged category.
Recently, in the month of July 2026, BNY Mellon Global Fixed Income - I returned -1.1%, which earned it a grade of C, as the Global Bond-USD Hedged category had an average return of -1.1%. 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 Global Fixed Income - I has a trailing yield of 3.33%, which is below the 3.99% category average. The fund normally distributes its income quarterly.
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 Global Fixed Income - I Grades
Year to date, the fund has returned -0.2%, 0.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.2% over the past year (grade of D), 4.6% over the past three years (grade of B) and 1.1% per year over the past five years (grade of B) and 2.3% per year over the past 10 years (grade of B).
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SDGIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SDGIX Return (NAV) | -1.1% | 0.1% | 2.2% | 4.6% | 1.1% | 2.3% |
| SDGIX Grade | C | C | D | B | B | B |
| +/- Category | -0.0% | -0.1% | -0.1% | 0.2% | 0.7% | 0.5% |
| Global Bond-USD Hedged Avg | -1.1% | 0.2% | 2.3% | 4.4% | 0.4% | 1.8% |
| SDGIX Tax Cost Ratio | na | na | 1.3% | 1.3% | 1.4% | 1.2% |
SDGIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SDGIX Return (NAV) | -0.2% | 4.6% | 4.8% | 7.8% | -9.3% | -1.5% | 8.1% | 8.3% | -0.8% | 4.3% | 2.4% |
| SDGIX Grade | D | D | A | C | A | B | B | C | D | B | F |
| +/- Category | -0.3% | -0.5% | 1.4% | -0.1% | 2.8% | 0.3% | 1.4% | -0.2% | -0.9% | 0.0% | -2.1% |
| Global Bond-USD Hedged Avg | 0.1% | 5.2% | 3.4% | 7.9% | -12.0% | -1.7% | 6.7% | 8.6% | 0.1% | 4.3% | 4.5% |
| Risk Measures | |
| Standard Deviation: | 4.7% |
| Total Risk Index: | 0.39 - Low |
| Category Risk Index: | 1.06 - Above Average |
| Category Risk Grade: | D (74% Rank) |
| Beta: | 0.80 |
| R-Squared: | 93% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.3% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | None |
| Total Assets: | $4486 Mil |
| Fund Total Assets: | $3,123 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 86% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 15.3 years | |||
| Average Tenure: 6.6 years | |||
| Managers (Year): Murphy Brendan (2011), Zaleski Scott (2018), Hyde Nathaniel (2022), Bradley Harvey (2023), Whiteley Adam (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 668 |
| % in Top 10 Holdings: | 54.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 44.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 47.9% |
| Foreign Bond: | 44.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 7.3% |
Purchase Information
| Fund Family: | BNY Mellon |
| Phone Number: | 800-373-9387 |
| Website: | https://im.bnymellon.com |
| Status: | Open |
| Inception Date: | December 31, 1993 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.54% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.73% |
| Share Class: | BNY Mellon Global Fixed Income - I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
