BNY Mellon High Yield Strategies Fund (DHF)
Financial Services · NYQ
Fundamentals
Valuation and ratings
BNY Mellon High Yield Strategies Fund trades at USD2.35, close to the USD2.67 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 59 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 14.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
DHF dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.108 | 6 |
| 2025 | USD0.216 | 12 |
| 2024 | USD0.213 | 12 |
| 2023 | USD0.180 | 12 |
| 2022 | USD0.224 | 12 |
| 2021 | USD0.258 | 12 |
| 2020 | USD0.264 | 12 |
| 2019 | USD0.270 | 12 |
| 2018 | USD0.288 | 12 |
| 2017 | USD0.306 | 12 |
| 2016 | USD0.332 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About BNY Mellon High Yield Strategies Fund
BNY Mellon High Yield Strategies Fund is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc. The fund invests in the fixed income markets of the United States. It primarily invests in fixed income securities of below investment grade quality, including securities of companies at early stages of development and companies with a highly leveraged financial structure. The fund benchmarks the performance of its portfolio against the BofA Merrill Lynch U.S High Yield Master II Constrained Index. It was formerly known as Dreyfus High Yield Strategies Fund. BNY Mellon High Yield Strategies Fund was formed in April 29, 1998 and is domiciled in the United States.
DHF passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is BNY Mellon High Yield Strategies Fund (DHF) undervalued?
Against our discounted cash flow estimate of USD2.67, DHF at USD2.35 is 14% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is DHF's P/E ratio?
DHF trades at 14.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does BNY Mellon High Yield Strategies Fund (DHF) pay a dividend?
Yes. BNY Mellon High Yield Strategies Fund yields 8.68% at the current share price. It has paid USD0.216 per share over the trailing twelve months. It has paid a dividend in each of the last 28 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.