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Trending ETFs

Federated Hermes SDG Engagement High Yield Credit Fund

mutual fund
FHHIX
Payout Change
Pending
Price as of:
$9.83 -0.01 -0.1%
primary theme
High Yield Bond
share class
Instl (FHHIX) R6 (FHHRX)
FHHIX (Mutual Fund)

Federated Hermes SDG Engagement High Yield Credit Fund

Payout Change
Pending
Price as of:
$9.83 -0.01 -0.1%
primary theme
High Yield Bond
share class
Instl (FHHIX) R6 (FHHRX)
FHHIX (Mutual Fund)

Federated Hermes SDG Engagement High Yield Credit Fund

Payout Change
Pending
Price as of:
$9.83 -0.01 -0.1%
primary theme
High Yield Bond
share class
Instl (FHHIX) R6 (FHHRX)

Name

As of 10/03/2024

Price

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

Federated Hermes SDG Engagement High Yield Credit Fund

FHHIX | Fund

$9.83

$79.6 M

4.12%

$0.41

1.43%

Vitals

YTD Return

7.2%

1 yr return

16.4%

3 Yr Avg Return

2.2%

5 Yr Avg Return

4.1%

Net Assets

$79.6 M

Holdings in Top 10

25.4%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.43%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 27.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 10/03/2024

Price

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

Federated Hermes SDG Engagement High Yield Credit Fund

FHHIX | Fund

$9.83

$79.6 M

4.12%

$0.41

1.43%

FHHIX - Profile

Distributions

  • YTD Total Return 7.2%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 4.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.54%
DIVIDENDS
  • Dividend Yield 4.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes SDG Engagement High Yield Credit Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Sep 26, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Fraser Lundie

Fund Description

The Fund pursues its investment objective by investing primarily in a diversified portfolio of high-yield fixed-income securities (also known as “junk bonds”), which include debt securities issued by U.S. or foreign businesses (including emerging market debt securities). The Fund’s investment adviser or sub-adviser (as applicable, the “Adviser”) selects securities that it believes have attractive risk-return characteristics. The Adviser’s securities selection process includes an analysis of the issuer’s financial condition, business and product strength, competitive position and management expertise. The Adviser does not limit the Fund’s investments to securities of a particular maturity range or duration.In managing the assets of the Fund, the Adviser will seek to invest in securities that, in its view, provide the potential for current income and long-term capital appreciation while also contributing to positive societal impact aligned to the United Nations Sustainable Development Goals (the “UN Sustainable Development Goals”) (as outlined in further detail below).1It will do so by performing bottom-up fundamental analysis of financial criteria such as balance sheet quality, franchise value (i.e., brand strength and sustainability of the business model) and quality of management. This fundamental, bottom-up analysis of individual credit will be used to generate returns through anticipated price changes. At the same time, the Adviser will analyze securities to seek to identify whether their market price is reflective of the value of the issuer of the securities (as determined by the fundamental analysis outlined above and when taking market news into account). In addition, the Adviser intends to use a wider analysis of general economic conditions for portfolio risk management purposes. The Adviser intends to diversify the Fund’s portfolio across different geographic regions and industries.1Please refer to https://sustainabledevelopment.un.org/?menu=1300 for further information on the United Nations Sustainable Development GoalsThe Adviser will use the UN Sustainable Development Goals and targets as a framework for identifying, articulating and measuring positive impact opportunities within the companies it chooses to invest. In addition to quantitative financial indicators and metrics, qualitative criteria will include assessment of company management competence, integrity, vision and potential.The Fund will not be subject to any limitation on the types of companies in which it may invest (either in terms of industry or focus) so long as these companies are viewed by the Adviser to provide the potential for current income and long-term capital appreciation while also offering potential to contribute to positive societal impact aligned to the UN Sustainable Development Goals. The Fund will, however, exclude companies that generate revenue from the manufacture of tobacco or controversial weapons, or by providing either an essential and/or tailor-made product or service to the manufacturers of controversial weapons. Controversial weapons may include anti-personnel mines, cluster munitions, depleted uranium, nuclear weapons, white phosphorous and chemical and biological weapons. The Fund may, from time to time, have larger allocations to certain broad market sectors in attempting to achieve its investment objective.The Fund may use derivative contracts and/or hybrid instruments to implement elements of its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio’s exposure to the investments(s) underlying the derivative or hybrid instrument. There can be no assurance that the Fund’s use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund’s 80% policy (as described below) and are calculated at market value.The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in fixed-income investments rated below investment grade. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in fixed-income investments rated below investment grade.The Fund actively trades its portfolio securities in an attempt to achieve its investment objective. Active trading will cause the Fund to have an increased portfolio turnover rate and increase the Fund’s trading costs, which may have an adverse impact on the Fund’s performance. An active trading strategy will likely result in the Fund generating more short-term capital gains or losses. Short-term gains are generally taxed at a higher rate than long-term gains. Any short-term losses are used first to offset short-term gains.
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FHHIX - Performance

Return Ranking - Trailing

Period FHHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.2% -5.4% 15.4% 55.50%
1 Yr 16.4% -0.4% 20.0% 20.87%
3 Yr 2.2%* -14.9% 20.9% 63.58%
5 Yr 4.1%* -11.8% 37.5% N/A
10 Yr N/A* -5.1% 20.1% N/A

* Annualized

Return Ranking - Calendar

Period FHHIX Return Category Return Low Category Return High Rank in Category (%)
2023 7.5% -4.7% 14.3% 3.90%
2022 -14.9% -33.4% 3.6% 37.54%
2021 -2.7% -8.4% 8.2% 94.56%
2020 3.4% -13.2% 302.7% 7.53%
2019 N/A -4.4% 13.3% N/A

Total Return Ranking - Trailing

Period FHHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.2% -5.4% 15.4% 55.50%
1 Yr 16.4% -0.4% 20.0% 20.87%
3 Yr 2.2%* -14.9% 20.9% 63.58%
5 Yr 4.1%* -11.8% 37.5% N/A
10 Yr N/A* -5.1% 20.1% N/A

* Annualized

Total Return Ranking - Calendar

Period FHHIX Return Category Return Low Category Return High Rank in Category (%)
2023 11.4% -4.7% 18.7% 67.21%
2022 -10.7% -33.4% 47.8% 50.16%
2021 2.6% -8.4% 12.4% 91.33%
2020 7.1% -9.6% 325.6% 20.84%
2019 N/A -3.8% 19.4% N/A

NAV & Total Return History

FHHIX - Holdings

Concentration Analysis

FHHIX Category Low Category High FHHIX % Rank
Net Assets 79.6 M 3.13 M 23.6 B 88.83%
Number of Holdings 201 2 3879 76.91%
Net Assets in Top 10 18.8 M -492 M 5.25 B 83.09%
Weighting of Top 10 25.43% 4.2% 146.0% 11.87%

Top 10 Holdings

  1. United States Treasury Note/Bond 7.41%
  2. United Kingdom Gilt 5.24%
  3. United States Treasury Note/Bond 4.63%
  4. United States Treasury Bill 1.55%
  5. Ball Corp 1.17%
  6. TerraForm Power Operating LLC 1.17%
  7. Telefonica Europe BV 1.17%
  8. IQVIA Inc 1.06%
  9. EDP - Energias de Portugal SA 1.01%
  10. Lorca Telecom Bondco SA 1.00%

Asset Allocation

Weighting Return Low Return High FHHIX % Rank
Bonds 		96.13% 0.00% 145.36% 43.20%
Convertible Bonds 		6.92% 0.00% 17.89% 1.63%
Other 		2.10% -39.08% 99.96% 10.89%
Cash 		1.77% -52.00% 48.02% 82.76%
Stocks 		0.00% 0.00% 99.64% 88.19%
Preferred Stocks 		0.00% 0.00% 4.97% 74.96%

Bond Sector Breakdown

Weighting Return Low Return High FHHIX % Rank
Corporate 		73.55% 0.00% 100.00% 94.46%
Government 		24.54% 0.00% 99.07% 0.98%
Derivative 		2.10% -14.19% 42.26% 4.72%
Cash & Equivalents 		0.00% 0.00% 48.02% 95.28%
Securitized 		0.00% 0.00% 97.24% 78.99%
Municipal 		0.00% 0.00% 1.17% 61.40%

Bond Geographic Breakdown

Weighting Return Low Return High FHHIX % Rank
US 		58.23% 0.00% 126.57% 93.82%
Non US 		37.91% 0.00% 96.91% 1.63%

FHHIX - Expenses

Operational Fees

FHHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.43% 0.02% 38.33% 23.70%
Management Fee 0.60% 0.00% 1.75% 66.77%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.50% 54.50%

Sales Fees

FHHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FHHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

FHHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 27.00% 1.00% 255.00% 5.68%

FHHIX - Distributions

Dividend Yield Analysis

FHHIX Category Low Category High FHHIX % Rank
Dividend Yield 4.12% 0.00% 11.76% 91.44%

Dividend Distribution Analysis

FHHIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

FHHIX Category Low Category High FHHIX % Rank
Net Income Ratio 2.54% -2.39% 9.30% 97.19%

Capital Gain Distribution Analysis

FHHIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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FHHIX - Fund Manager Analysis

Managers

Fraser Lundie

Start Date

Tenure

Tenure Rank

Sep 18, 2019

2.7

2.7%

Fraser joined Hermes in February 2010 and is Head of Credit and lead manager on the Hermes range of credit strategies. Prior to this he was at Fortis Investments, where he was responsible for European high yield credit. Fraser graduated from the University of Aberdeen with an MA (Hons) in Economics; he earned an MSc in Investment Analysis from the University of Stirling and is a CFA charterholder. In 2017, Fraser joined the board of CFA UK, a member society of the CFA Institute. Having previously featured in the Financial News’ ‘40 Under 40 Rising Stars of Asset Management’, an editorial selection of the brightest up-and-coming men and women in the industry, in 2015 Fraser was named as one of the top 10 star fund managers of tomorrow by the Daily Telegraph. In 2016, Citywire Americas named Fraser number one in their global high yield manager review, and InvestmentEurope and Investment Week both named the Hermes Multi Strategy Credit Fund top global bond fund at their respective 2017 Fund Manager of the Year Awards.

Mitch Reznick

Start Date

Tenure

Tenure Rank

Sep 18, 2019

2.7

2.7%

Mitch Reznick, CFA, Head of Research and Sustainable Fixed Income and Co-Portfolio Manager, has been the Fund's portfolio manager since inception in September 2019. He joined Hermes in 2010 as Head of Research on the Hermes Credit team. He earned a Master's degree in International Affairs at Columbia University in New York City and a Bachelor's degree in History at Pitzer College. Investment Experience: 22 Years.

Nachu Chockalingam

Start Date

Tenure

Tenure Rank

Oct 31, 2020

1.58

1.6%

Nachu Chockalingam, CFA, has been with Federated Investment Management Company or an affiliate since 2018 as a portfolio manager responsible for Emerging Market Debt. She has a degree in Economics from the London School of Economics.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.3 8.17

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