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Dreyfus Treasury and Agency Liquidity Money Market Fund

Fund Objective / Approach

The fund seeks as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity.

The fund pursues its investment objective by investing only in U.S. Treasury securities, repurchase agreements collateralized solely by U.S. Treasury securities or securities issued by U.S. government agencies that are backed by the full faith and credit of the U.S. government, and cash. The fund seeks to invest in securities that present minimal credit risk, based on BNY Mellon Investment Adviser's assessment of the issuer's or guarantor's credit quality and capacity to meet its financial obligations, which may include environmental, social and governance (ESG) factors as appropriate and applicable, among other factors. The fund is a government money market fund managed to meet the requirements of Rule 2A-7 under the Investment Company Act of 1940.
Total Fund Assets
$13,370,722,843  As of  09/22/23
Share Class Assets
$13,370,722,843  As of  09/22/23
Inception Date
12/18/17
Fiscal Year End
Nov 30
Trade Deadline
4 PM ET
WAM
3 Days  As of  09/22/23
WAL
28 Days  As of  09/22/23
Holdings
13 As of  08/31/23
Min Investment
$3,000,000,000
1-Day Yield
5.31% As of  09/22/23
7-Day Yield With Waiver
5.30% As of  09/22/23
7-Day Yield Without Waiver
5.30% As of  09/22/23
30-Day Yield
5.30% As of  09/22/23
Dividend Factor
0.000436309 As of  09/22/23
Fund Share Price
$1.00
MARKET VALUE NAV
$1.0001 As of 09/22/23
Class Status
Open

The investment adviser may contractually agree to waive or reimburse certain fees and expenses until a specified date. The investment adviser may also voluntarily waive certain fees and expenses, and such voluntary waivers may be discontinued or modified at any time without notice. Voluntary waiver and caps may not be included in the prospectus net expense ratio. The yields and total returns shown reflects any waivers or reimbursements that were in effect for all or a portion of the periods shown. When waivers or reimbursements are in place, the Fund's operating expenses are reduced and the Fund's yield and total returns to the shareholder are increased. Without such waivers, returns would have been lower. The yields and total returns represent past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance quoted above.

Portfolio Daily Net Inflow or Outflow

As of  09/21/23
  Start Date End Date  
$2,089,308,438 

Portfolio Daily/Weekly Liquid Assets

As of  09/22/23
Daily Weekly Start Date End Date  
99.90% 99.90%

As of 08/31/23  Fund 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Treasury and Agency Liquidity Money Market Fund
DTLXX
4.43% 1.64% 1.62% - 1.61% 12/18/17
As of  06/30/23  Fund 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Treasury and Agency Liquidity Money Market Fund
DTLXX
3.86% 1.34% 1.50% - 1.50% 12/18/17
08/31/23  Fund 1 MO 3 MO 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Treasury and Agency Liquidity Money Market Fund
DTLXX
0.45% 1.30% 4.43% 4.99% 8.35% - 9.55% 12/18/17
As of  06/30/23  Fund 1 MO 3 MO 1 YR 3 YRS 5 YRS 10 YRS Since Inception Inception Date
Dreyfus Treasury and Agency Liquidity Money Market Fund
DTLXX
0.42% 1.24% 3.86% 4.08% 7.73% - 8.59% 12/18/17

YTD Returns

As of  09/22/23 As of  08/31/23 As of  06/30/23
3.63% 3.27% 2.37%

The investment adviser may contractually agree to waive or reimburse certain fees and expenses until a specified date. The investment adviser may also voluntarily waive certain fees and expenses, and such voluntary waivers may be discontinued or modified at any time without notice. Voluntary waiver and caps may not be included in the prospectus net expense ratio. The yields and total returns shown reflects any waivers or reimbursements that were in effect for all or a portion of the periods shown. When waivers or reimbursements are in place, the Fund's operating expenses are reduced and the Fund's yield and total returns to the shareholder are increased. Without such waivers, returns would have been lower. The yields and total returns represent past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance quoted above.

Fund 08/23 07/23 06/23 05/23 04/23 03/23 02/23 01/23 12/22 11/22 10/22 09/22
DTLXX
5.29%  5.10%  5.05%  5.03%  4.81%  4.62%  4.53%  4.30%  4.07%  3.75%  3.05%  2.53% 

Investment return fluctuates and past performance is no guarantee of future results. As a measure of current income, 7-day yield most closely reflects the fund's current income generating ability.

Fund 2022 2021 2020 2019 2018
DTLXX
1.64%  0.01%  0.33%  2.15%  1.77% 

Investment return fluctuates and past performance is no guarantee of future results.


Asset Allocation

As of  08/31/23

      Maturity Distribution

      As of  08/31/23

      Portfolio composition is subject to change at any time. Data reflects days until final maturity for individual portfolio securities.

      Holdings Report

      Fund Name Total Holdings  As of Historical Daily Holdings
      Dreyfus Treasury and Agency Liquidity Money Market Fund
      09/22/23

      See All Money Market Fund Holdings

      Portfolio composition is subject to change at any time.  The holdings listed should not be considered recommendations to buy or sell a security.

      Link to each fund's Form N-MFP on the Securities and Exchange Commission website.


      Monthly Expense Ratios (Annualized)

      As of  08/31/23 FEE DESCRIPTION EXPENSE RATIO (%)
      Management Fee 0.08%
      Other Expenses 0.01%
      Total Expenses 0.09%

      Monthly Expense Ratios reflect any voluntary expense limitations that may be terminated at any time without notice by BNY Mellon Investment Adviser, Inc. as well as any contractual expense limitations reflected in the prospectus fee table. Voluntary expense limitations are not contractual and may fluctuate daily. Total Expenses is the total annual operating expense ratio for the fund before any applicable fee waivers or expense reimbursements. If applicable, Net Expenses is the total annual operating expense ratio for the fund after any applicable fee waivers or expense reimbursements.
      This data is annualized. Monthly operating expenses may vary month to month.

      Prospectus Fee Table Expense Ratios

      As of  03/31/23  Fee Description Expense Ratio (%)
      Management Fee 0.08%
      Other Expenses 0.01%
      Total Expenses 0.09%

      Total Expenses is the total annual operating expense ratio for the fund before any contractual fee waivers or expense reimbursements as reflected in the prospectus fee table. If applicable, Net Expenses is the total annual operating expense ratio for the fund after any contractual fee waivers or expense reimbursements as reflected in the prospectus fee table.


      Literature

      Prospectus and Reports

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      Factsheet-Single Share Class Download
      Prospectus-Single Share Class Download
      Summary Prospectus-Single Share Class Download
      SAI Download
      Annual Report Download
      Semi Annual Report Download

      MARKETING MATERIALS

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      WHERE OUR FUNDS CAN BE SOLD Download
      EFFECTIVELY MANAGING MONEY MARKET FUND ASSETS Download
      STRENGTH OF THE LION Download

      Investors should consider the investment objectives, risks, charges, and expenses of a money market fund carefully before investing. To obtain a prospectus, or summary prospectus, if available, that contains this and other information about the fund, contact your financial professional or visit dreyfus.com. Read the prospectus carefully before investing.

      Government/Treasury Money Market Funds: You could lose money by investing in a money market fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

      Although the fund's board has no current intention to impose a fee upon the sale of shares or temporarily suspend redemptions if the fund's liquidity falls below certain levels, the board reserves the ability to do so after providing at least 60 days prior written notice to shareholders.

      The fund's short-term corporate and asset- backed securities holdings involve credit and liquidity risks and risk of principal loss.

      ESG evaluation risk applies to all government/treasury money market funds except Dreyfus Government Securities Cash Management, Dreyfus Treasury Securities Cash Management, and Dreyfus Institutional Preferred Treasury Securities Money Market Fund. Where appropriate and as applicable, Dreyfus incorporates environmental, social and governance (ESG) factors into its fundamental credit research process. Dreyfus may not consider ESG ratings or other ESG data or analysis in connection with every investment decision and may determine that other attributes of an investment outweigh ESG considerations when making an investment decision. ESG factors may not be determinative with respect to a given credit analysis or investment decision. Accordingly, a fund may invest in securities of a company/issuer with a negative ESG profile, and a fund may divest or not invest in a company/issuer with a positive ESG profile. In light of the fact that ESG data often lacks standardization, consistency and transparency, such data including ESG ratings for certain issuers/companies may not be available, complete or accurate.

      As a measure of current income, 7-day yield most closely reflects the fund's current income generating ability. The 7-Day yield is an annualized yield based on the most recent 7 day period. 30-day yield, which is a net yield inclusive of any fee waivers or reimbursements, is based upon dividends per share from net investment income during the past 30 days, divided by the period ended maximum offering price per share and annualized. 7- Day Yield With Waiver may reflect the waiver of a portion of the management fee, and/or a reimbursement of fund expenses, by BNY Mellon Investment Adviser, Inc., which would have the effect of lowering the fund's expense ratio and generating a higher yield.

      WAM: A measure of the average effective maturity of all of the underlying money market instruments in the fund, weighted to reflect the relative percentage ownership of each instrument. WAM calculations allow for the maturities of certain securities with periodic interest rate resets to be shortened. Generally, for money market funds, WAM can be used primarily as a measure of relative sensitivity to interest rate changes.

      WAL: A measure of the average final maturity of all of the underlying money market instruments in the fund, weighted to reflect the relative percentage ownership of each instrument. Unlike WAM, WAL calculations do not allow maturities to be shortened for periodic interest rate resets. Accordingly, WAL will generally be higher than WAM.

      Market Value NAV: Calculated based on available market quotations (except overnight securities which are valued at amortized cost) related to the Fund's securities at the close of business on the date stated. It is calculated to the nearest hundredth of a cent or (or $0.0001).

      Daily Dividend Factor is a decimal representation of the amount of yield earned in one day.

      Accumulated Dividend Factor is the decimal representation of the daily factors added up in anticipated of a monthly dividend payout.
       


      MIC-272249-2022-05-17