Fund Facts  

Inception Date: Dec 30, 2005
CUSIP: 261980684
Ticker Symbol: DIBAX
Morningstar Category:World Bond
As of Mar 31, 2017
Fund Net Assets ($millions) $802

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to maximize total return through capital appreciation and income.

Principal Investment Strategies  

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed-income securities. It also normally invests at least 65% of its assets in non-U.S. dollar denominated fixed-income securities of foreign governments and companies located in various countries, including emerging markets. The fund may invest up to 25% of its assets in emerging markets generally and up to 5% of its assets in any single emerging market country. It is non-diversified.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Dreyfus International Bond Aa4.23%4.23%-0.20%-0.23%1.00%5.37%5.48%
Bloomberg Barclays Global Agg Ex US Bond Indexa,b2.48%2.48%-3.93%-2.68%-1.13%2.58%N/A
Morningstar World Bonda,c2.30%2.30%1.84%0.35%1.37%3.73%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total Expensesa1.23%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Bloomberg Barclays Global Aggregate Ex US Bond Index consists of global investment-grade fixed income securities excluding US Dollar denominated debt.

c. The Fund′s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal–weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 29, 2016Dec 29, 2016$0.021400000
Nov 1, 2016Nov 1, 2016$0.027000000
Dec 30, 2015Dec 30, 2015$0.435000000
Nov 2, 2015Nov 2, 2015$0.086000000
Aug 3, 2015Aug 3, 2015$0.078000000
May 1, 2015May 1, 2015$0.073000000
Dec 30, 2014Dec 30, 2014$0.427000000
Nov 3, 2014Nov 3, 2014$0.072000000
Aug 1, 2014Aug 1, 2014$0.070000000
May 1, 2014May 1, 2014$0.055000000
Dec 27, 2013Dec 27, 2013$0.070000000
Nov 1, 2013Nov 1, 2013$0.039000000
Aug 1, 2013Aug 1, 2013$0.062000000
May 1, 2013May 1, 2013$0.097000000
 

Morningstar Information

Morningstar RatingTM   As of Mar 31, 2017
Period Stars Category Size
Overall 4 Stars312
3-Year 3 Stars312
5-Year 3 Stars247
10-Year 4 Stars128

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Mar 31, 2017
Fixed Income Stylebox
Medium Extensive
Allocation of Assets As of Feb 28, 2017
Type of Asset Percent
Equity0%
Fixed Income98%
Cash/Other2%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Feb 28, 2017
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond15.4%
Foreign Bond82.8%
Preferred0.0%
Convertible0.2%
Cash1.5%
Other0.2%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of Feb 28, 2017
SectorPercent
Government71.9%
Corporate17.1%
Securitized5.9%
Derivative1.5%
Cash & Equivalents1.5%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Dec 31, 2016
Quality LevelPercent
AAA17.2%
AA6.9%
A29.0%
BBB30.9%
BB8.5%
B6.2%
Below B1.6%
Not Rated0.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Feb 28, 2017
Holding NamePercent
Australia 3 Year Bond Mar177.6%
Long Term French Govt Bond4.8%
Japan-128 (5 Yr Issue)4.5%
US 10 Year Note (CBT) June172.8%
Euro BOBL Future Mar172.6%
US Ultra Bond (CBT) June172.5%
US Treasury Note2.4%
Germany (Federal Republic Of) 2.25%2.2%
Long Gilt2.1%
Japan(Govt Of) 0.1%2.0%
 

Statistics

Duration and Maturity As of Dec 31, 2016
StatisticValue
Average Effective Duration4.46 years
Average Effective Maturity9.17 years
Portfolio Statistics As of Mar 31, 2017
Statistic3-Year5-Year
Beta0.710.72
Alpha1.621.76
Standard Deviation6.185.62
 
 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2017 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.