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3 BNY Mellon Mutual Funds to Buy as Market Volatility Continues
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BNY Mellon Investment Management, one of the largest investment management companies in the world, is based out of Manhattan, NY. It is the asset management arm of The Bank of New York Mellon Corporation (popularly known as BNY Mellon).
The company was incorporated on Jul 1, 2007, following the merger of The Bank of New York Company Inc. and Mellon Financial Corporation. Seven investment firms, namely, Arx Investimentos, Dreyfus, Insight Investment, Newton Investment Management, Siguler Guff, Walter Scott and Mellon, act as investment managers for the company. Each brings its own strategy and expertise to the table.
BNY Mellon had approximately $2 trillion in assets under management as of Dec 31, 2023. Investments in the company include pension funds, public funds, endowments and foundations. BNY Mellon operates from 35 locations in the Americas, Europe, the Middle East and Africa, and the Asia Pacific.
BNY Mellon reported earnings and revenues beat for fourth-quarter 2023. Its adjusted earnings came in at $1.28 per share, which surpassed the Zacks Consensus Estimate of $1.12. Total revenues increased 10% year over year to $4.31 billion for the quarter. The top line beat the Zacks Consensus Estimate of $4.29 billion. For 2023, revenues were $17.50 billion, up 6.9% year over year. The top line outpaced the Zacks Consensus Estimate of $17.48 billion.
The performance was primarily aided by a rise in net interest revenues, marginally higher fee revenues and lower expenses. The assets under management balance also witnessed a rise, which was another major positive for the company.
The company continues to be a steady, trusted and diversified asset management firm, which seems to have weathered the macro-economic storms of the past two years. Investing in mutual funds from BNY Mellon may provide the much-required stability and growth potential in a market that is expected to remain volatile for a while, especially with rising market sentiment that the first rate-cut by the Fed is going to be a bit further off than expected earlier. Hence, astute investors should consider such funds at present.
We have thus selected three mutual funds that boast a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns and minimum initial investments within $5000, as well as carry a low expense ratio.
BNY Mellon Dynamic Value Fund (DRGVX - Free Report) invests primarily in a varied portfolio of domestic and foreign value stocks of companies that the advisor believes have sound business fundamentals and positive momentum.
Keith Howell Jr. has been one of the lead managers of DRGVX since September 2021. Three top holdings for DRGVX are 4.3% in Berkshire Hathaway, 4.2% in JPMorgan Chase and 3.3% in Danaher.
DRGVX’s 3-year and 5-year annualized returns are 15.9% and 13.9%, respectively, and its net expense ratio is 0.68% compared to the category average of 0.94%. DRGVX has a Zacks Mutual Fund Rank #1. To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.
BNY Mellon Large Cap Securities Fund (DREVX - Free Report) primarily invests in equity securities of large-cap companies. DREVX advisors use fundamental analysis to create a broadly varied portfolio comprising growth stocks, value stocks or both.
Karen Behr has been one of the lead managers of DREVX since September 2021. Three top holdings for DREVX are 8.9% in Apple, 7.8% in Microsoft and 6.4% in Nvidia.
DREVX’s 3-year and 5-year annualized returns are 12.8% and 16.5%, respectively, and its net expense ratio is 0.70% compared to the category average of 0.99%. DREVX has a Zacks Mutual Fund Rank #1.
BNY Mellon Sustainable US Equity (DTCAX - Free Report) invests most of its assets in common stock of U.S.-based companies that it believes have attractive investment attributes and sustainable business practices. It particularly focuses on companies that have no unresolvable environmental, social and governance issues.
Nicholas Pope has been one of the lead managers of DTCAX since January 2022. Three top holdings for DTCAX are 8.8% in Microsoft, 7.6% in Apple and 5% in Alphabet.
DTCAX’s 3-year and 5-year annualized returns are 7.3% and 13.7%, respectively, and its net expense ratio is 0.93% compared to the category average of 0.94%. DTCAX has a Zacks Mutual Fund Rank #2.
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3 BNY Mellon Mutual Funds to Buy as Market Volatility Continues
BNY Mellon Investment Management, one of the largest investment management companies in the world, is based out of Manhattan, NY. It is the asset management arm of The Bank of New York Mellon Corporation (popularly known as BNY Mellon).
The company was incorporated on Jul 1, 2007, following the merger of The Bank of New York Company Inc. and Mellon Financial Corporation. Seven investment firms, namely, Arx Investimentos, Dreyfus, Insight Investment, Newton Investment Management, Siguler Guff, Walter Scott and Mellon, act as investment managers for the company. Each brings its own strategy and expertise to the table.
BNY Mellon had approximately $2 trillion in assets under management as of Dec 31, 2023. Investments in the company include pension funds, public funds, endowments and foundations. BNY Mellon operates from 35 locations in the Americas, Europe, the Middle East and Africa, and the Asia Pacific.
BNY Mellon reported earnings and revenues beat for fourth-quarter 2023. Its adjusted earnings came in at $1.28 per share, which surpassed the Zacks Consensus Estimate of $1.12. Total revenues increased 10% year over year to $4.31 billion for the quarter. The top line beat the Zacks Consensus Estimate of $4.29 billion. For 2023, revenues were $17.50 billion, up 6.9% year over year. The top line outpaced the Zacks Consensus Estimate of $17.48 billion.
The performance was primarily aided by a rise in net interest revenues, marginally higher fee revenues and lower expenses. The assets under management balance also witnessed a rise, which was another major positive for the company.
The company continues to be a steady, trusted and diversified asset management firm, which seems to have weathered the macro-economic storms of the past two years. Investing in mutual funds from BNY Mellon may provide the much-required stability and growth potential in a market that is expected to remain volatile for a while, especially with rising market sentiment that the first rate-cut by the Fed is going to be a bit further off than expected earlier. Hence, astute investors should consider such funds at present.
Mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges that are mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money).
We have thus selected three mutual funds that boast a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), have positive three-year and five-year annualized returns and minimum initial investments within $5000, as well as carry a low expense ratio.
BNY Mellon Dynamic Value Fund (DRGVX - Free Report) invests primarily in a varied portfolio of domestic and foreign value stocks of companies that the advisor believes have sound business fundamentals and positive momentum.
Keith Howell Jr. has been one of the lead managers of DRGVX since September 2021. Three top holdings for DRGVX are 4.3% in Berkshire Hathaway, 4.2% in JPMorgan Chase and 3.3% in Danaher.
DRGVX’s 3-year and 5-year annualized returns are 15.9% and 13.9%, respectively, and its net expense ratio is 0.68% compared to the category average of 0.94%. DRGVX has a Zacks Mutual Fund Rank #1. To see how this fund performed compared to its category, and other 1 and 2 Ranked Mutual Funds, please click here.
BNY Mellon Large Cap Securities Fund (DREVX - Free Report) primarily invests in equity securities of large-cap companies. DREVX advisors use fundamental analysis to create a broadly varied portfolio comprising growth stocks, value stocks or both.
Karen Behr has been one of the lead managers of DREVX since September 2021. Three top holdings for DREVX are 8.9% in Apple, 7.8% in Microsoft and 6.4% in Nvidia.
DREVX’s 3-year and 5-year annualized returns are 12.8% and 16.5%, respectively, and its net expense ratio is 0.70% compared to the category average of 0.99%. DREVX has a Zacks Mutual Fund Rank #1.
BNY Mellon Sustainable US Equity (DTCAX - Free Report) invests most of its assets in common stock of U.S.-based companies that it believes have attractive investment attributes and sustainable business practices. It particularly focuses on companies that have no unresolvable environmental, social and governance issues.
Nicholas Pope has been one of the lead managers of DTCAX since January 2022. Three top holdings for DTCAX are 8.8% in Microsoft, 7.6% in Apple and 5% in Alphabet.
DTCAX’s 3-year and 5-year annualized returns are 7.3% and 13.7%, respectively, and its net expense ratio is 0.93% compared to the category average of 0.94%. DTCAX has a Zacks Mutual Fund Rank #2.
Want key mutual fund info delivered straight to your inbox?
Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>