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Federated Hermes Opportunistic High Yield Bond Fund
mutual fund
FHYLX
Payout Change
Pending
Price as of:
$6.43
+0.01
+0.16%
primary theme
High Yield Bond
share class
FHYLX (Mutual Fund)
Federated Hermes Opportunistic High Yield Bond Fund
Payout Change
Pending
Price as of:
$6.43
+0.01
+0.16%
primary theme
High Yield Bond
share class
FHYLX (Mutual Fund)
Federated Hermes Opportunistic High Yield Bond Fund
Payout Change
Pending
Price as of:
$6.43
+0.01
+0.16%
primary theme
High Yield Bond
share class
Name
As of 10/11/2024Price
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
7.0%
1 yr return
15.1%
3 Yr Avg Return
2.5%
5 Yr Avg Return
4.9%
Net Assets
$494 M
Holdings in Top 10
10.4%
52 WEEK LOW AND HIGH
$6.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.78%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 34.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
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
FHYLX - Profile
Distributions
- YTD Total Return 7.0%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 4.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.33%
- Dividend Yield 5.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFederated Hermes Opportunistic High Yield Bond Fund
-
Fund Family NameFederated Hermes Funds
-
Inception DateApr 27, 2017
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMark Durbiano
Fund Description
The Fund pursues its investment objective by investing primarily in a diversified portfolio of noninvestment-grade, fixed income securities of domestic and foreign corporations (also known as “junk bonds”) including loan instruments. The fixed-income securities in which the Fund will invest include but are not limited to corporate debt securities, loan instruments, commercial paper, zero coupon securities and foreign securities. The Fund is not managed to specific maturity or duration requirements. The foreign fixed-income securities in which the Fund invests are issued by foreign corporations in either emerging or developed markets. The Fund’s investment adviser (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. In addition, when the Adviser considers the risk/return prospects of equity securities to be attractive, the Fund may also opportunistically invest up to 20% of its assets in equity securities or pooled vehicles such as exchange-traded funds (ETFs) or other investment companies. Pooled vehicles are utilized in order to gain broad exposure to the equity market. The Fund may invest in companies with market capitalizations of any size. The Fund may invest in derivative contracts to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio’s exposure to the investment(s) underlying the derivative contract or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s). 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.
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FHYLX - Performance
Return Ranking - Trailing
| Period | FHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.0% | -5.8% | 15.9% | 59.87% |
| 1 Yr | 15.1% | -1.2% | 20.0% | 40.13% |
| 3 Yr | 2.5%* | -14.4% | 21.1% | 57.62% |
| 5 Yr | 4.9%* | -11.9% | 37.3% | 17.54% |
| 10 Yr | N/A* | -5.1% | 20.2% | 2.78% |
* Annualized
Return Ranking - Calendar
| Period | FHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.0% | -4.7% | 14.3% | 8.44% |
| 2022 | -17.0% | -33.4% | 3.6% | 74.26% |
| 2021 | 3.2% | -8.4% | 8.2% | 7.65% |
| 2020 | 1.5% | -13.2% | 302.7% | 18.21% |
| 2019 | 9.4% | -4.4% | 13.3% | 13.69% |
Total Return Ranking - Trailing
| Period | FHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.0% | -5.8% | 15.9% | 59.87% |
| 1 Yr | 15.1% | -1.2% | 20.0% | 40.13% |
| 3 Yr | 2.5%* | -14.4% | 21.1% | 57.62% |
| 5 Yr | 4.9%* | -11.9% | 37.3% | 17.54% |
| 10 Yr | N/A* | -5.1% | 20.2% | 2.76% |
* Annualized
Total Return Ranking - Calendar
| Period | FHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.6% | -4.7% | 18.7% | 14.29% |
| 2022 | -12.0% | -33.4% | 47.8% | 77.05% |
| 2021 | 8.4% | -8.4% | 12.4% | 8.50% |
| 2020 | 7.5% | -9.6% | 325.6% | 15.94% |
| 2019 | 15.7% | -3.8% | 19.4% | 13.15% |
NAV & Total Return History
FHYLX - Holdings
Concentration Analysis
| FHYLX | Category Low | Category High | FHYLX % Rank | |
|---|---|---|---|---|
| Net Assets | 494 M | 3.13 M | 23.6 B | 52.10% |
| Number of Holdings | 481 | 2 | 3879 | 34.15% |
| Net Assets in Top 10 | 50.8 M | -492 M | 5.25 B | 64.39% |
| Weighting of Top 10 | 10.37% | 4.2% | 146.0% | 74.80% |
Top 10 Holdings
- FEDERATED CORE TR FEDERATED BANK LOAN CORE FUND 1.51%
- Panther BF Aggregator 2 LP / Panther Finance Co Inc 1.17%
- Federated Hermes Government Obligations Fund 1.17%
- Clydesdale Acquisition Holdings Inc 1.04%
- 1011778 BC ULC / New Red Finance Inc 1.03%
- Mozart Debt Merger Sub Inc 0.99%
- Minerva Merger Sub Inc 0.91%
- Condor Merger Sub Inc 0.87%
- ALLIED UNIVERSAL HOLDCO SR UNSECURED 144A 07/27 9.75 0.84%
- BroadStreet Partners Inc 0.84%
Asset Allocation
| Weighting | Return Low | Return High | FHYLX % Rank | |
|---|---|---|---|---|
| Bonds | 92.04% | 0.00% | 145.36% | 76.54% |
| Stocks | 6.05% | 0.00% | 99.64% | 8.25% |
| Cash | 1.91% | -52.00% | 48.02% | 79.84% |
| Convertible Bonds | 0.45% | 0.00% | 17.89% | 81.30% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 44.88% |
| Other | 0.00% | -39.08% | 99.96% | 52.20% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FHYLX % Rank | |
|---|---|---|---|---|
| Communication Services | 25.65% | 0.00% | 99.99% | 15.20% |
| Consumer Cyclical | 20.76% | 0.00% | 100.00% | 11.40% |
| Basic Materials | 13.42% | 0.00% | 100.00% | 11.70% |
| Technology | 11.25% | 0.00% | 33.17% | 8.77% |
| Utilities | 9.36% | 0.00% | 100.00% | 10.23% |
| Industrials | 8.19% | 0.00% | 93.12% | 10.23% |
| Energy | 6.34% | 0.00% | 100.00% | 62.57% |
| Healthcare | 2.88% | 0.00% | 22.17% | 9.65% |
| Consumer Defense | 2.16% | 0.00% | 100.00% | 13.74% |
| Real Estate | 0.00% | 0.00% | 86.71% | 24.56% |
| Financial Services | 0.00% | 0.00% | 100.00% | 33.63% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FHYLX % Rank | |
|---|---|---|---|---|
| US | 6.05% | 0.00% | 99.64% | 8.29% |
| Non US | 0.00% | -0.01% | 0.83% | 23.58% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FHYLX % Rank | |
|---|---|---|---|---|
| Corporate | 96.92% | 0.00% | 100.00% | 29.48% |
| Cash & Equivalents | 1.17% | 0.00% | 48.02% | 75.28% |
| Securitized | 0.10% | 0.00% | 97.24% | 37.46% |
| Derivative | 0.00% | -14.19% | 42.26% | 43.25% |
| Municipal | 0.00% | 0.00% | 1.17% | 12.54% |
| Government | 0.00% | 0.00% | 99.07% | 37.46% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FHYLX % Rank | |
|---|---|---|---|---|
| US | 92.04% | 0.00% | 126.57% | 63.90% |
| Non US | 0.00% | 0.00% | 96.91% | 47.32% |
FHYLX - Expenses
Operational Fees
| FHYLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.78% | 0.02% | 38.33% | 68.34% |
| Management Fee | 0.60% | 0.00% | 1.75% | 62.24% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.00% | 0.50% | 46.03% |
Sales Fees
| FHYLX 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
| FHYLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 16.95% |
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.
| FHYLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 34.00% | 1.00% | 255.00% | 9.77% |
FHYLX - Distributions
Dividend Yield Analysis
| FHYLX | Category Low | Category High | FHYLX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.36% | 0.00% | 11.76% | 68.34% |
Dividend Distribution Analysis
| FHYLX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FHYLX | Category Low | Category High | FHYLX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.33% | -2.39% | 9.30% | 53.31% |
Capital Gain Distribution Analysis
| FHYLX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.029 | OrdinaryDividend |
| Aug 31, 2024 | $0.028 | OrdinaryDividend |
| Jul 31, 2024 | $0.029 | OrdinaryDividend |
| Jun 30, 2024 | $0.029 | OrdinaryDividend |
| Apr 30, 2024 | $0.029 | OrdinaryDividend |
| Mar 31, 2024 | $0.027 | OrdinaryDividend |
| Feb 29, 2024 | $0.021 | OrdinaryDividend |
| Jan 31, 2024 | $0.023 | OrdinaryDividend |
| Dec 31, 2023 | $0.033 | OrdinaryDividend |
| Nov 30, 2023 | $0.036 | OrdinaryDividend |
| Oct 31, 2023 | $0.029 | OrdinaryDividend |
| Sep 30, 2023 | $0.032 | OrdinaryDividend |
| Aug 31, 2023 | $0.031 | OrdinaryDividend |
| Jul 31, 2023 | $0.031 | OrdinaryDividend |
| Jun 30, 2023 | $0.032 | OrdinaryDividend |
| May 31, 2023 | $0.032 | OrdinaryDividend |
| Apr 28, 2023 | $0.031 | OrdinaryDividend |
| Mar 31, 2023 | $0.029 | OrdinaryDividend |
| Feb 28, 2023 | $0.016 | OrdinaryDividend |
| Jan 31, 2023 | $0.026 | OrdinaryDividend |
| Dec 31, 2022 | $0.039 | OrdinaryDividend |
| Nov 30, 2022 | $0.034 | OrdinaryDividend |
| Oct 31, 2022 | $0.029 | OrdinaryDividend |
| Sep 30, 2022 | $0.028 | OrdinaryDividend |
| Aug 31, 2022 | $0.029 | OrdinaryDividend |
| Aug 23, 2022 | $0.027 | CapitalGainShortTerm |
| Jul 31, 2022 | $0.030 | OrdinaryDividend |
| Jun 30, 2022 | $0.030 | OrdinaryDividend |
| May 31, 2022 | $0.029 | OrdinaryDividend |
| Apr 30, 2022 | $0.029 | OrdinaryDividend |
| Mar 31, 2022 | $0.026 | OrdinaryDividend |
| Feb 28, 2022 | $0.009 | OrdinaryDividend |
| Jan 31, 2022 | $0.021 | OrdinaryDividend |
| Dec 31, 2021 | $0.046 | OrdinaryDividend |
| Dec 08, 2021 | $0.015 | CapitalGainShortTerm |
| Nov 30, 2021 | $0.029 | OrdinaryDividend |
| Oct 31, 2021 | $0.028 | OrdinaryDividend |
| Sep 30, 2021 | $0.027 | OrdinaryDividend |
| Aug 31, 2021 | $0.026 | OrdinaryDividend |
| Jul 31, 2021 | $0.025 | OrdinaryDividend |
| Jun 30, 2021 | $0.025 | OrdinaryDividend |
| May 31, 2021 | $0.025 | OrdinaryDividend |
| Apr 30, 2021 | $0.024 | OrdinaryDividend |
| Mar 31, 2021 | $0.024 | OrdinaryDividend |
| Feb 28, 2021 | $0.008 | OrdinaryDividend |
| Jan 31, 2021 | $0.000 | OrdinaryDividend |
| Dec 31, 2020 | $0.042 | OrdinaryDividend |
| Nov 30, 2020 | $0.024 | OrdinaryDividend |
| Oct 30, 2020 | $0.024 | OrdinaryDividend |
| Sep 30, 2020 | $0.025 | OrdinaryDividend |
| Aug 31, 2020 | $0.025 | OrdinaryDividend |
| Jul 31, 2020 | $0.026 | OrdinaryDividend |
| Jun 30, 2020 | $0.029 | OrdinaryDividend |
| May 29, 2020 | $0.030 | OrdinaryDividend |
| Apr 30, 2020 | $0.028 | OrdinaryDividend |
| Mar 31, 2020 | $0.028 | OrdinaryDividend |
| Feb 28, 2020 | $0.027 | OrdinaryDividend |
| Jan 31, 2020 | $0.028 | OrdinaryDividend |
| Dec 31, 2019 | $0.032 | OrdinaryDividend |
| Dec 09, 2019 | $0.009 | CapitalGainShortTerm |
| Nov 29, 2019 | $0.032 | OrdinaryDividend |
| Oct 31, 2019 | $0.031 | OrdinaryDividend |
| Sep 30, 2019 | $0.028 | OrdinaryDividend |
| Aug 30, 2019 | $0.028 | OrdinaryDividend |
| Jul 31, 2019 | $0.028 | OrdinaryDividend |
| Dec 10, 2018 | $0.057 | CapitalGainLongTerm |
FHYLX - Fund Manager Analysis
Managers
Mark Durbiano
Start Date
Tenure
Tenure Rank
Aug 23, 1984
37.79
37.8%
Mr. Durbiano joined Federated in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of Federated Investment Management Company since 1996. From 1988 through 1995, Mr. Durbiano was a Portfolio Manager and a Vice President of Federated. Mr. Durbiano has received the Chartered Financial Analyst designation and an M.B.A. in Finance from the University of Pittsburgh.
Gene Neavin
Start Date
Tenure
Tenure Rank
Apr 30, 2011
11.09
11.1%
Mr. Neavin joined Federated in 2001 as an Investment Analyst and has been a Portfolio Manager since 2011. . In 2005, Mr. Neavin became an Assistant Vice President and Senior Investment Analyst and in 2010 became a Vice President of a Federated advisory subsidiary. From 1995 to 1999, Mr. Neavin worked for MBNA America Bank and was appointed a Senior Credit Analyst in 1997. Mr. Neavin has received the Chartered Financial Analyst designation and an M.B.A. from Carnegie Mellon University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.3 | 8.17 |
