DRCAX BNY Mellon CA AMT-Free Municipal Bond Z Forecast, Technical & Fundamental Analysis

The investment seeks as high a level of current income, exempt from federal and California state income taxes, as is consistent with the preservation of capital. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal and California state personal income taxes and the federal alternative minimum tax. It invests at least 80% of its net assets in municipal bonds rated, at the time of purchase, investment grade (i.e., Baa/BBB or higher) or the unrated equivalent as determined by the adviser.