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Federated Hermes Institutional Tax-Free Cash Trust
mutual fund
FFTXX
Payout Change
Pending
Price as of:
$1.0
+0.0
+0.0%
primary theme
Tax-Free Money Market
share class
FFTXX (Mutual Fund)
Federated Hermes Institutional Tax-Free Cash Trust
Payout Change
Pending
Price as of:
$1.0
+0.0
+0.0%
primary theme
Tax-Free Money Market
share class
FFTXX (Mutual Fund)
Federated Hermes Institutional Tax-Free Cash Trust
Payout Change
Pending
Price as of:
$1.0
+0.0
+0.0%
primary theme
Tax-Free Money Market
share class
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
2.7%
1 yr return
3.3%
3 Yr Avg Return
2.2%
5 Yr Avg Return
1.4%
Net Assets
$19.7 B
Holdings in Top 10
36.8%
52 WEEK LOW AND HIGH
$1.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.35%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Money Market Fund
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
FFTXX - Profile
Distributions
- YTD Total Return 2.7%
- 3 Yr Annualized Total Return 2.2%
- 5 Yr Annualized Total Return 1.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.01%
- Dividend Yield 3.2%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameFederated Hermes Institutional Tax-Free Cash Trust
-
Fund Family NameFederated Hermes Funds
-
Inception DateFeb 26, 2016
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerManagement Team
Fund Description
The Fund invests primarily in a portfolio of high-quality, tax-exempt securities maturing in five business days or less. The Fund will invest its assets so that distributions of annual interest income are exempt from federal regular income tax. The Fund’s investment adviser (“Adviser”) also normally will invest the Fund’s assets entirely in securities whose interest is not subject to (or not a specific preference item for purposes of) the federal alternative minimum tax for individuals (AMT), such that distributions of annual interest income are also exempt from the AMT. However, in certain circumstances (such as, for example, when there is a lack of supply of non-AMT or other tax-exempt securities or there are advantageous market conditions, or if there are changes in the tax laws relating to AMT), to pursue the Fund’s investment objective, the Adviser may leave a portion of the Fund’s assets uninvested, or may invest the Fund’s assets in securities the interest from which may be subject to AMT, state and/or federal income tax. These acquisitions may occur in the ordinary course or in connection with Fund reorganization transactions (i.e., transactions in which the Fund acquires the portfolio securities of other mutual funds) or another event or circumstance. The Adviser actively manages the Fund’s portfolio, seeking to limit the credit risk taken by the Fund and to select investments with appropriate risk-adjusted returns.Although the Fund is a money market fund, the net asset value (NAV) of the Fund’s shares will “float,” fluctuating with changes in the values of the Fund’s portfolio securities. Although the Fund is a floating net asset value money market fund and its share price will fluctuate, by investing in high quality securities with maturities of five business days or less, typically maintaining a weighted average portfolio maturity of approximately seven days or less and using amortized cost to value such securities when available, the Fund seeks to minimize the volatility of its NAV.Tax-exempt securities are fixed-income securities that, in the opinion of bond counsel to the issuer or on the basis of another authority believed by the Adviser to be reliable, pay interest that is not subject to federal regular income taxes. The types of securities in which the Fund may principally invest include: (a) tax-exempt securities such as the following types, some of which may be subject to credit enhancement: variable rate demand instruments, municipal notes, general obligation bonds, special revenue bonds, private activity bonds, and tax-exempt commercial paper; and (b) interests in securities of other investment companies.In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 under the Investment Company Act of 1940 (“Rule 2a-7”).Under normal circumstances, the Fund will invest its assets so that at least 80% of the Fund’s net assets (plus the amount of any borrowings for investment purposes) are invested in securities the income of which will be exempt from federal regular income tax. This policy may not be changed without shareholder approval.
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FFTXX - Performance
Return Ranking - Trailing
| Period | FFTXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | 1.7% | 4.4% | 32.14% |
| 1 Yr | 3.3% | 2.1% | 5.4% | 32.14% |
| 3 Yr | 2.2%* | 1.3% | 3.5% | 34.29% |
| 5 Yr | 1.4%* | 0.8% | 2.2% | 25.64% |
| 10 Yr | N/A* | 0.6% | 1.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | FFTXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.0% | 0.0% | 0.0% | 40.00% |
| 2022 | 0.0% | 0.0% | 0.0% | 37.65% |
| 2021 | 0.0% | 0.0% | 0.0% | 40.26% |
| 2020 | 0.0% | 0.0% | 0.0% | 39.73% |
| 2019 | 0.0% | 0.0% | 0.0% | 37.66% |
Total Return Ranking - Trailing
| Period | FFTXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | 1.7% | 4.4% | 32.14% |
| 1 Yr | 3.3% | 2.1% | 5.4% | 32.14% |
| 3 Yr | 2.2%* | 1.3% | 3.5% | 34.29% |
| 5 Yr | 1.4%* | 0.8% | 2.2% | 25.64% |
| 10 Yr | N/A* | 0.6% | 1.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | FFTXX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.1% | 2.0% | 5.4% | 49.41% |
| 2022 | 0.8% | 0.2% | 1.2% | 67.06% |
| 2021 | 0.0% | 0.0% | 0.3% | 75.32% |
| 2020 | 0.5% | 0.0% | 1.3% | 23.29% |
| 2019 | 2.5% | 0.0% | 2.7% | 5.19% |
NAV & Total Return History
FFTXX - Holdings
Concentration Analysis
| FFTXX | Category Low | Category High | FFTXX % Rank | |
|---|---|---|---|---|
| Net Assets | 19.7 B | 3.67 M | 19.7 B | 2.35% |
| Number of Holdings | 78 | 1 | 921 | 70.59% |
| Net Assets in Top 10 | 343 M | 40.6 M | 17.4 B | 34.12% |
| Weighting of Top 10 | 36.80% | 9.8% | 100.0% | 31.76% |
Top 10 Holdings
- EMERY CNTY UTAH POLLUTN CTL REV 0.14% 5.50%
- PERRY CNTY MISS POLLUTION CTL REV 0.12% 5.09%
- NUVEEN INSD TAX-FREE ADVANTAGE MUN FD 0.56% 5.05%
- ST LUCIE CNTY FLA POLLUTN CTL REV 0.12% 4.91%
- IOWA FIN AUTH MIDWESTERN DISASTER AREA REV 0.56% 4.45%
- VICTORVILLE CALIF JT PWRS FING AUTH LEASE REV 0.13% 4.41%
- ESCAMBIA CNTY FLA SOLID WASTE DISP SYS REV 0.07% 4.34%
- GAINESVILLE FLA UTILS SYS REV 0.52% 4.33%
- NUVEEN NEW YORK AMT-FREE MUN INCOME FD 0.56% 4.29%
- PERRY CNTY MISS POLLUTION CTL REV 0.56% 4.01%
Asset Allocation
| Weighting | Return Low | Return High | FFTXX % Rank | |
|---|---|---|---|---|
| Bonds | 98.41% | 0.00% | 99.21% | 3.53% |
| Cash | 1.59% | 0.79% | 100.00% | 98.82% |
| Stocks | 0.00% | 0.00% | 0.00% | 37.65% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 37.65% |
| Other | 0.00% | 0.00% | 0.00% | 37.65% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 37.65% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FFTXX % Rank | |
|---|---|---|---|---|
| Municipal | 98.41% | 0.00% | 99.21% | 3.53% |
| Cash & Equivalents | 1.59% | 0.79% | 100.00% | 98.82% |
| Derivative | 0.00% | 0.00% | 0.00% | 37.65% |
| Securitized | 0.00% | 0.00% | 0.00% | 37.65% |
| Corporate | 0.00% | 0.00% | 0.00% | 37.65% |
| Government | 0.00% | 0.00% | 13.45% | 42.35% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FFTXX % Rank | |
|---|---|---|---|---|
| US | 98.41% | 0.00% | 99.21% | 3.53% |
| Non US | 0.00% | 0.00% | 0.00% | 37.65% |
FFTXX - Expenses
Operational Fees
| FFTXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.35% | 0.15% | 1.77% | 63.53% |
| Management Fee | 0.20% | 0.08% | 0.49% | 68.24% |
| 12b-1 Fee | N/A | 0.00% | 0.75% | N/A |
| Administrative Fee | 0.10% | 0.05% | 0.55% | 41.38% |
Sales Fees
| FFTXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | N/A | N/A | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| FFTXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| FFTXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 0.00% | N/A |
FFTXX - Distributions
Dividend Yield Analysis
| FFTXX | Category Low | Category High | FFTXX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.22% | 2.26% | 5.22% | 25.88% |
Dividend Distribution Analysis
| FFTXX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FFTXX | Category Low | Category High | FFTXX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.01% | 0.00% | 0.12% | 45.88% |
Capital Gain Distribution Analysis
| FFTXX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.003 | OrdinaryDividend |
| Aug 31, 2024 | $0.003 | OrdinaryDividend |
| Jul 31, 2024 | $0.002 | OrdinaryDividend |
| Jun 30, 2024 | $0.003 | OrdinaryDividend |
| Apr 30, 2024 | $0.003 | OrdinaryDividend |
| Mar 31, 2024 | $0.003 | OrdinaryDividend |
| Feb 29, 2024 | $0.002 | OrdinaryDividend |
| Jan 31, 2024 | $0.002 | OrdinaryDividend |
| Dec 31, 2023 | $0.003 | OrdinaryDividend |
| Nov 30, 2023 | $0.003 | OrdinaryDividend |
| Oct 31, 2023 | $0.003 | OrdinaryDividend |
| Sep 30, 2023 | $0.003 | OrdinaryDividend |
| Aug 31, 2023 | $0.003 | OrdinaryDividend |
| Jul 31, 2023 | $0.003 | OrdinaryDividend |
| Jun 30, 2023 | $0.003 | OrdinaryDividend |
| May 31, 2023 | $0.003 | OrdinaryDividend |
| Apr 30, 2023 | $0.002 | OrdinaryDividend |
| Mar 31, 2023 | $0.002 | OrdinaryDividend |
| Feb 28, 2023 | $0.002 | OrdinaryDividend |
| Jan 31, 2023 | $0.002 | OrdinaryDividend |
| Dec 31, 2022 | $0.002 | OrdinaryDividend |
| Nov 30, 2022 | $0.001 | OrdinaryDividend |
| Oct 31, 2022 | $0.002 | OrdinaryDividend |
| Sep 30, 2022 | $0.001 | OrdinaryDividend |
| Aug 31, 2022 | $0.001 | OrdinaryDividend |
| Jul 31, 2022 | $0.001 | OrdinaryDividend |
| Jun 30, 2022 | $0.000 | OrdinaryDividend |
| May 31, 2022 | $0.000 | OrdinaryDividend |
| Apr 30, 2022 | $0.000 | OrdinaryDividend |
| Mar 31, 2022 | $0.000 | OrdinaryDividend |
| Feb 28, 2022 | $0.000 | OrdinaryDividend |
| Jan 31, 2022 | $0.000 | OrdinaryDividend |
| Dec 31, 2021 | $0.000 | OrdinaryDividend |
| Nov 30, 2021 | $0.000 | OrdinaryDividend |
| Oct 31, 2021 | $0.000 | OrdinaryDividend |
| Sep 30, 2021 | $0.000 | OrdinaryDividend |
| Aug 31, 2021 | $0.000 | OrdinaryDividend |
| Jul 31, 2021 | $0.000 | OrdinaryDividend |
| Jun 30, 2021 | $0.000 | OrdinaryDividend |
| May 31, 2021 | $0.000 | OrdinaryDividend |
| Apr 30, 2021 | $0.000 | OrdinaryDividend |
| Mar 31, 2021 | $0.000 | OrdinaryDividend |
| Feb 28, 2021 | $0.000 | OrdinaryDividend |
| Jan 31, 2021 | $0.000 | OrdinaryDividend |
| Dec 31, 2020 | $0.000 | OrdinaryDividend |
| Nov 30, 2020 | $0.000 | OrdinaryDividend |
| Oct 30, 2020 | $0.000 | OrdinaryDividend |
| Sep 30, 2020 | $0.000 | OrdinaryDividend |
| Aug 31, 2020 | $0.000 | OrdinaryDividend |
| Jun 30, 2020 | $0.000 | OrdinaryDividend |
| Apr 30, 2020 | $0.000 | OrdinaryDividend |
| Mar 31, 2020 | $0.002 | OrdinaryDividend |
| Feb 28, 2020 | $0.001 | OrdinaryDividend |
| Dec 31, 2019 | $0.001 | OrdinaryDividend |
| Nov 29, 2019 | $0.001 | OrdinaryDividend |
| Oct 31, 2019 | $0.001 | OrdinaryDividend |
| Sep 30, 2019 | $0.001 | OrdinaryDividend |
| Aug 30, 2019 | $0.001 | OrdinaryDividend |
| Jul 31, 2019 | $0.001 | OrdinaryDividend |
