A BNY MELLON COMPANY

Dreyfus GNMA Fund

  • Ticker: GPGAX
  • Product Code: 6100
  • CUSIP: 26203A107
Share Class:

Portfolio Manager/Sub-Investment Adviser

The fund's investment adviser is The Dreyfus Corporation (Dreyfus). Robert Bayston is the fund's primary portfolio manager, a position he has held since April 2006. Mr. Bayston is also responsible for the portfolio management of all U.S. Treasury/government and agency mortgage backed strategies as well as inflation linked portfolios, and is the Managing Director and Senior Portfolio Manager of U.S. Interest Rate Strategies at Standish Mellon Asset Management Company, LLC (Standish). Mr. Bayston is a dual employee of Standish and Dreyfus and manages the fund as an employee of Dreyfus.

Portfolio Statistics

Benchmark 2 Barclays GNMA Index
Number of Holdings 825
as of 07/31/15
Portfolio Turnover Rate 349.59%
as of fiscal year end 04/30/15
Average Effective Duration 3 4.1 Years
as of 07/31/15
Average Effective Maturity 5.8 Years
as of 07/31/15

Risk Measures

as of 07/31/15
R Squared 4 70.48
Beta 5 0.72
Standard Deviation 6 2.46

Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.

Notes & Disclosures
  1. Portfolio composition and allocation is as of 07/31/15 and is subject to change at any time. Totals may not be exact due to rounding. Negative exposures may represent short positions through derivatives.
  2. Source: Morningstar, Inc. All rights reserved. Reflects investments of dividends and, where applicable, capital gain distributions. The Barclays GNMA Index is an unmanaged total return performance benchmark for the GNMA market, consisting of 15- and 30-year fixed-rate securities backed by mortgage pools of the Government National Mortgage Association.
  3. Duration is a measure of volatility expressed in years. The higher the number, the greater the potential for volatility as interest rates change.
  4. Reflects the percentage of a fund's movements that can be explained by movements in a particular benchmark. An R-squared of 100 indicates fund movements that are perfectly correlated to those of the benchmark. In order to compare funds across general asset classes, Morningstar calculates R-squared values relative to a "standard" broad-based market index. For example, the R-squared of both a small cap, domestic equity fund and a domestic technology fund would be determined against the S&P 500 Index. Thus, the "standard" broad-based market index used by Morningstar may differ from the fund's actual benchmark stated in this factsheet. Source: Morningstar
  5. Beta is a measure of the systematic risk of a stock or a portfolio and is an indicator of expected return. A beta higher than 1.0 has higher risk than the overall market has and thus the stock or portfolio can be expected to perform in relation to the overall market in that way.
  6. A statistical measurement of dispersion around an average which depicts how widely fund returns varied over a certain period of time. Source: Morningstar
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