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Trending ETFs

Federated Hermes Municipal Ultrashort Fund

mutual fund
FMUUX
Payout Change
Pending
Price as of:
$10.04 +0.0 +0.0%
primary theme
Municipal Bond
FMUUX (Mutual Fund)

Federated Hermes Municipal Ultrashort Fund

Payout Change
Pending
Price as of:
$10.04 +0.0 +0.0%
primary theme
Municipal Bond
FMUUX (Mutual Fund)

Federated Hermes Municipal Ultrashort Fund

Payout Change
Pending
Price as of:
$10.04 +0.0 +0.0%
primary theme
Municipal Bond

Name

As of 10/02/2024

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

$10.04

$1.1 B

3.20%

$0.32

0.59%

Vitals

YTD Return

3.4%

1 yr return

4.8%

3 Yr Avg Return

2.1%

5 Yr Avg Return

1.5%

Net Assets

$1.1 B

Holdings in Top 10

20.1%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.59%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 61.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/02/2024

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

$10.04

$1.1 B

3.20%

$0.32

0.59%

FMUUX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return 2.1%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.23%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes Municipal Ultrashort Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Jan 22, 2001
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeff Kozemchak

Fund Description

The Fund pursues its objective by investing its assets so that, normally, distributions of annual interest income are exempt from federal regular income tax. Interest from the Fund’s investments may be subject to (or may be a specific preference item for purposes of) the federal alternative minimum tax (AMT) for individuals.The Fund will invest at least 65% of its assets in securities rated investment grade (or unrated securities of comparable quality) without regard to the maturity of the securities and may purchase securities rated below investment grade, which are also known as junk bonds, (or unrated securities of comparable quality) without regard to the maturity of the securities up to 35% of its assets. The Fund’s investment adviser (“Adviser”) seeks to maintain a low degree of Share price fluctuation by generally limiting the Fund’s dollar-weighted average portfolio duration to one year or less. The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook. Duration measures the sensitivity of a security’s price to changes in interest rates. The Adviser may also continue to seek to maintain a low degree of Share price fluctuation and manage the Fund’s average duration by investing in variable rate demand notes, municipal notes and short-term municipal bonds as a core position in the Fund’s portfolio.The Adviser may seek higher returns than may be offered by a tax-exempt money market fund by generally investing in:◾ short-term securities with maturities greater than one year;◾ medium-quality securities; and/or◾ noninvestment-grade securities.Short-term securities generally include securities with maturities of no more than three years. The Fund also may invest in securities with maturities greater than three years, subject to the Fund generally limiting the Fund’s dollar-weighted average portfolio duration to one year or less.Medium-quality securities generally include investment-grade securities that are rated in the third and fourth highest rating category by a nationally recognized statistical rating organization (NRSRO) and unrated securities of comparable quality. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated AAA, AA, A and BBB (including modifiers, sub-categories or gradations) by Standard & Poor’s, an NRSRO, would be rated in the first, second, third or fourth highest rating category, respectively. Tax-exempt securities rated A and BBB by Standard & Poor’s are rated in the third (A) and fourth (BBB) highest rating categories and would be considered medium-quality securities by the Fund. The presence of a ratings modifier, sub-category, or gradation (for example, a (+) or (-)), is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund’s investment parameters. Although medium-quality securities are still considered investment-grade securities, lower credit ratings do correspond to higher perceived credit risk.Noninvestment-grade securities generally include securities rated below investment grade and unrated securities of comparable quality. For example, tax-exempt securities rated BB by Standard & Poor’s would be noninvestment-grade securities.The securities in which the Fund may principally invest include tax-exempt securities, which may include, for example, general obligation bonds; special revenue bonds; private activity bonds; tax increment financing bonds; municipal mortgage-backed securities; planned amortization classes; variable rate demand instruments; municipal notes; and tax-exempt commercial paper. Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement.The Fund also may principally invest in derivative contracts (such as, for example, futures contracts, options contracts and swap contracts) and/or hybrid instruments to implement its investment strategy. 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 contracts or hybrid instruments in an attempt to benefit from changes in the value of the underlying investment(s), to gain exposure to the municipal bond sector, to increase or decrease the effective duration of the Fund’s portfolio or to hedge against potential losses. 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 is not a money market fund and is not subject to the special regulatory requirements (including maturity and credit quality constraints) designed to enable money market funds to maintain a stable share price.The Fund will normally invest so that at least 80% of its net assets are in tax-exempt securities or at least 80% of its annual interest income is exempt from federal regular income tax. Only for purposes of compliance with Rule 35d-1 under the Investment Company Act of 1940 (“1940 Act”), the Fund will invest its assets so that at least 80% of the income it distributes will be exempt from federal regular income tax. This policy may not be changed without shareholder approval.
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FMUUX - Performance

Return Ranking - Trailing

Period FMUUX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -1.5% 25.5% 42.80%
1 Yr 4.8% 2.1% 38.6% 97.41%
3 Yr 2.1%* -9.9% 3.5% 1.62%
5 Yr 1.5%* -6.5% 1104.9% 13.78%
10 Yr 1.0%* -0.8% 248.9% 85.93%

* Annualized

Return Ranking - Calendar

Period FMUUX Return Category Return Low Category Return High Rank in Category (%)
2023 0.9% -1.4% 41.0% 95.94%
2022 -1.6% -39.7% 0.3% 2.36%
2021 -0.2% -5.6% 6.9% 37.77%
2020 0.3% -2.6% 310.0% 93.26%
2019 0.4% 0.0% 26.0% 98.57%

Total Return Ranking - Trailing

Period FMUUX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -1.5% 25.5% 42.80%
1 Yr 4.8% 2.1% 38.6% 97.41%
3 Yr 2.1%* -9.9% 3.5% 1.62%
5 Yr 1.5%* -6.5% 1104.9% 13.78%
10 Yr 1.0%* -0.8% 248.9% 85.93%

* Annualized

Total Return Ranking - Calendar

Period FMUUX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -1.3% 41.0% 88.56%
2022 -0.8% -39.7% 1.1% 2.50%
2021 0.0% -4.8% 23761504.0% 87.64%
2020 1.2% -1.5% 17057.9% 95.42%
2019 1.6% 0.2% 3514.6% 98.64%

NAV & Total Return History


FMUUX - Holdings

Concentration Analysis

FMUUX Category Low Category High FMUUX % Rank
Net Assets 1.1 B 3.22 M 71.9 B 28.88%
Number of Holdings 210 4 13418 55.01%
Net Assets in Top 10 219 M -317 M 3.45 B 16.85%
Weighting of Top 10 20.09% 1.9% 100.1% 38.31%

Top 10 Holdings

  1. Nuveen AMT-Free Municipal Credit Income Fund 2.64%
  2. Black Belt Energy Gas District 2.30%
  3. Industrial Development Board of the City of Mobile Alabama 2.30%
  4. JPMorgan Chase Putters/Drivers Trust 2.18%
  5. JPMorgan Chase Putters/Drivers Trust 1.90%
  6. Ector County Independent School District 1.86%
  7. Township of Belleville NJ 1.85%
  8. County of Knott KY 1.83%
  9. Lancaster Port Authority 1.70%
  10. Deutsche Bank Spears/Lifers Trust 1.54%

Asset Allocation

Weighting Return Low Return High FMUUX % Rank
Bonds
102.99% 0.00% 150.86% 4.38%
Stocks
0.00% 0.00% 99.89% 30.11%
Preferred Stocks
0.00% 0.00% 0.08% 19.77%
Other
0.00% -3.72% 51.88% 29.46%
Convertible Bonds
0.00% 0.00% 0.93% 19.12%
Cash
0.00% -50.86% 43.45% 86.86%

Bond Sector Breakdown

Weighting Return Low Return High FMUUX % Rank
Municipal
97.11% 44.39% 100.00% 65.09%
Derivative
0.00% -3.72% 51.88% 25.68%
Cash & Equivalents
0.00% 0.00% 43.45% 65.63%
Securitized
0.00% 0.00% 5.93% 20.65%
Corporate
0.00% 0.00% 9.41% 33.31%
Government
0.00% 0.00% 52.02% 25.85%

Bond Geographic Breakdown

Weighting Return Low Return High FMUUX % Rank
US
102.99% 0.00% 142.23% 4.38%
Non US
0.00% 0.00% 23.89% 24.02%

FMUUX - Expenses

Operational Fees

FMUUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.59% 0.01% 8.02% 68.73%
Management Fee 0.29% 0.00% 1.20% 13.79%
12b-1 Fee N/A 0.00% 1.00% 41.89%
Administrative Fee 0.10% 0.01% 0.44% 34.29%

Sales Fees

FMUUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% 92.91%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

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

FMUUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 61.00% 0.00% 283.00% 95.30%

FMUUX - Distributions

Dividend Yield Analysis

FMUUX Category Low Category High FMUUX % Rank
Dividend Yield 3.20% 0.00% 14.51% 39.32%

Dividend Distribution Analysis

FMUUX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FMUUX Category Low Category High FMUUX % Rank
Net Income Ratio 0.23% -0.53% 5.33% 98.32%

Capital Gain Distribution Analysis

FMUUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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FMUUX - Fund Manager Analysis

Managers

Jeff Kozemchak


Start Date

Tenure

Tenure Rank

Oct 24, 2000

21.61

21.6%

Mr. Kozemchak joined Federated in 1987 and has been a Senior Portfolio Manager since 1996 and a Senior Vice President of Federated since 1999. He was a Portfolio Manager until 1996 and a Vice President of Federated from 1993 to 1998. Mr. Kozemchak has received the Chartered Financial Analyst designation and his M.S. in Industrial Administration from Carnegie Mellon University in 1987.

Mary Ochson


Start Date

Tenure

Tenure Rank

Nov 30, 2017

4.5

4.5%

Ms. Ochson joined Federated Investment Management Company in 1982 as a portfolio manager and Ms. Ochson is a Senior Portfolio Manager and Head of the Tax-Free Money Market Investment Group. She was appointed Senior Vice President in 2004. Ms. Ochson has received the Chartered Financial Analyst designation and a M.B.A. from University of Pittsburgh. Ms. Ochson is a Senior Portfolio Manager and Head of the Tax-Free Money Market Investment Group.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.33 1.58