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Federated Hermes Ohio Municipal Income Fund
mutual fund
OMIIX
Payout Change
Pending
Price as of:
$10.56
-0.01
-0.09%
primary theme
Municipal Bond
share class
OMIIX (Mutual Fund)
Federated Hermes Ohio Municipal Income Fund
Payout Change
Pending
Price as of:
$10.56
-0.01
-0.09%
primary theme
Municipal Bond
share class
OMIIX (Mutual Fund)
Federated Hermes Ohio Municipal Income Fund
Payout Change
Pending
Price as of:
$10.56
-0.01
-0.09%
primary theme
Municipal Bond
share class
Name
As of 12/09/2024Price
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
3.3%
1 yr return
5.1%
3 Yr Avg Return
-0.2%
5 Yr Avg Return
N/A
Net Assets
$81.2 M
Holdings in Top 10
24.5%
52 WEEK LOW AND HIGH
$10.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.87%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 5.00%
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 12/09/2024Price
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
OMIIX - Profile
Distributions
- YTD Total Return 3.3%
- 3 Yr Annualized Total Return -0.2%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.32%
- Dividend Yield 3.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameFederated Hermes Ohio Municipal Income Fund
-
Fund Family NameFederated Hermes Funds
-
Inception DateMay 06, 2020
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRichard Gallo
Fund Description
The Fund pursues its objective by investing in a portfolio of tax-exempt securities so that, normally, distributions of annual interest income are exempt from federal regular income tax and the personal income taxes imposed by the state of Ohio and Ohio municipalities. Interest income from the Fund’s investments may be subject to (or may be a specific preference item for purposes of) the federal AMT for individuals.The Fund will invest at least a majority of its assets in securities rated investment-grade (or unrated securities of comparable quality) and may purchase securities rated below investment-grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating category) by a nationally recognized statistical rating organization (NRSRO) or unrated securities of comparable quality. For example, securities rated AAA, AA, A or BBB (including modifiers, sub-categories or gradations) by S&PGlobal(“S&P Global”), an NRSRO, would be rated in the first, second, third or fourth highest ratings category, respectively. Securities rated below investment-grade (or noninvestment-grade securities) are securities that do not receive investment-grade ratings (i.e., generally ratings below one of the four highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated B or BB (including modifiers, sub-categories or gradations) by S&P Global, an NRSRO, would be noninvestment-grade securities. 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. The Fund does not have a specific minimum quality rating.The Fund does not limit itself to securities of a particular maturity range. Currently, at least a majority of the Fund’s assets will be invested in long-term securities (i.e., securities with stated maturities of 10 years or more). The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook. Duration measures the price sensitivity of a fixed-income security to changes in interest rates.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 leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities and planned amortization classes. 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, option contracts and swap contracts) and hybrid instruments to implement its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments to increase return, to increase or decrease the portfolio’s exposure to the investment(s) underlying the derivative or hybrid instrument 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, sector/asset class and yield curve risk of the Fund’s portfolio or to hedge against potential losses.The Fund also may invest in certain securities or other investments (such as market discount bonds, credit default swaps and other derivative transactions) that will likely cause the Fund to realize a limited amount of ordinary income or short-term capital gains (which are treated as ordinary income for federal income tax purposes). 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 normally invest its assets so that at least 80% of the income that it distributes will be exempt from federal regular income tax and the personal income taxes imposed by the state of Ohio and Ohio municipalities. This policy may not be changed without shareholder approval.
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OMIIX - Performance
Return Ranking - Trailing
| Period | OMIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.3% | -4.3% | 40.7% | 60.58% |
| 1 Yr | 5.1% | -2.6% | 46.0% | 46.21% |
| 3 Yr | -0.2%* | -10.3% | 6.3% | 51.09% |
| 5 Yr | N/A* | -6.5% | 1105.2% | 59.97% |
| 10 Yr | N/A* | -0.9% | 249.0% | 52.76% |
* Annualized
Return Ranking - Calendar
| Period | OMIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.9% | -1.4% | 41.0% | 42.42% |
| 2022 | -10.8% | -39.7% | 0.3% | 40.82% |
| 2021 | -0.7% | -5.6% | 6.9% | 60.21% |
| 2020 | N/A | -2.6% | 310.0% | N/A |
| 2019 | N/A | 0.0% | 26.0% | N/A |
Total Return Ranking - Trailing
| Period | OMIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.3% | -4.3% | 40.7% | 60.58% |
| 1 Yr | 5.1% | -2.6% | 46.0% | 46.21% |
| 3 Yr | -0.2%* | -10.3% | 6.3% | 51.09% |
| 5 Yr | N/A* | -6.5% | 1105.2% | 50.21% |
| 10 Yr | N/A* | -0.9% | 249.0% | 49.60% |
* Annualized
Total Return Ranking - Calendar
| Period | OMIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.4% | -1.3% | 41.0% | 56.23% |
| 2022 | -8.7% | -39.7% | 1.1% | 42.05% |
| 2021 | 1.4% | -4.8% | 23761504.0% | 54.23% |
| 2020 | N/A | -1.5% | 17057.9% | N/A |
| 2019 | N/A | 0.2% | 3514.6% | N/A |
NAV & Total Return History
OMIIX - Holdings
Concentration Analysis
| OMIIX | Category Low | Category High | OMIIX % Rank | |
|---|---|---|---|---|
| Net Assets | 81.2 M | 3.22 M | 71.9 B | 89.78% |
| Number of Holdings | 105 | 4 | 13418 | 82.81% |
| Net Assets in Top 10 | 20 M | -317 M | 3.09 B | 87.78% |
| Weighting of Top 10 | 24.46% | 1.8% | 100.3% | 25.34% |
Top 10 Holdings
- County of Franklin OH Sales Tax Revenue 3.85%
- County of Hamilton OH 2.90%
- State of Ohio 2.59%
- COLUMBUS CITY SCHOOL DISTRICT 2.53%
- State of Ohio 2.47%
- FRANKLIN COUNTY CONVENTION FACILITIES AUTHORITY 2.46%
- State of Ohio 2.03%
- STATE OF OHIO 1.89%
- OLENTANGY LOCAL SCHOOL DISTRICT 1.89%
- American Municipal Power Inc 1.85%
Asset Allocation
| Weighting | Return Low | Return High | OMIIX % Rank | |
|---|---|---|---|---|
| Bonds | 99.04% | 0.00% | 150.86% | 48.32% |
| Cash | 0.96% | -50.86% | 44.62% | 52.45% |
| Stocks | 0.00% | 0.00% | 99.78% | 75.44% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 73.27% |
| Other | 0.00% | -3.69% | 53.54% | 72.13% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 72.89% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | OMIIX % Rank | |
|---|---|---|---|---|
| Municipal | 100.00% | 44.39% | 100.00% | 7.08% |
| Derivative | 0.00% | -3.69% | 53.54% | 71.59% |
| Cash & Equivalents | 0.00% | 0.00% | 44.41% | 88.99% |
| Securitized | 0.00% | 0.00% | 5.93% | 72.89% |
| Corporate | 0.00% | 0.00% | 9.41% | 77.14% |
| Government | 0.00% | 0.00% | 52.02% | 75.59% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | OMIIX % Rank | |
|---|---|---|---|---|
| US | 99.04% | 0.00% | 142.23% | 46.34% |
| Non US | 0.00% | 0.00% | 23.89% | 75.29% |
OMIIX - Expenses
Operational Fees
| OMIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.87% | 0.01% | 8.02% | 36.69% |
| Management Fee | 0.40% | 0.00% | 1.20% | 42.68% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.01% | 0.44% | 42.65% |
Sales Fees
| OMIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| OMIIX 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.
| OMIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 5.00% | 0.00% | 283.00% | 6.08% |
OMIIX - Distributions
Dividend Yield Analysis
| OMIIX | Category Low | Category High | OMIIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.97% | 0.00% | 14.51% | 49.13% |
Dividend Distribution Analysis
| OMIIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| OMIIX | Category Low | Category High | OMIIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.32% | -0.53% | 5.33% | 29.71% |
Capital Gain Distribution Analysis
| OMIIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 18, 2024 | $0.026 | OrdinaryDividend |
| Oct 17, 2024 | $0.026 | OrdinaryDividend |
| Sep 17, 2024 | $0.026 | OrdinaryDividend |
| Aug 19, 2024 | $0.027 | OrdinaryDividend |
| Jul 17, 2024 | $0.026 | OrdinaryDividend |
| Apr 17, 2024 | $0.026 | OrdinaryDividend |
| Mar 18, 2024 | $0.025 | OrdinaryDividend |
| Feb 20, 2024 | $0.024 | OrdinaryDividend |
| Jan 17, 2024 | $0.025 | OrdinaryDividend |
| Dec 18, 2023 | $0.025 | OrdinaryDividend |
| Nov 17, 2023 | $0.024 | OrdinaryDividend |
| Oct 17, 2023 | $0.024 | OrdinaryDividend |
| Sep 18, 2023 | $0.024 | OrdinaryDividend |
| Aug 17, 2023 | $0.025 | OrdinaryDividend |
| Jun 20, 2023 | $0.025 | OrdinaryDividend |
| Apr 17, 2023 | $0.024 | OrdinaryDividend |
| Mar 17, 2023 | $0.024 | OrdinaryDividend |
| Feb 17, 2023 | $0.024 | OrdinaryDividend |
| Jan 17, 2023 | $0.025 | OrdinaryDividend |
| Dec 19, 2022 | $0.023 | OrdinaryDividend |
| Nov 25, 2022 | $0.022 | OrdinaryDividend |
| Oct 24, 2022 | $0.022 | OrdinaryDividend |
| Sep 26, 2022 | $0.022 | OrdinaryDividend |
| Aug 24, 2022 | $0.023 | OrdinaryDividend |
| Jul 25, 2022 | $0.022 | OrdinaryDividend |
| Jun 24, 2022 | $0.021 | OrdinaryDividend |
| May 24, 2022 | $0.022 | OrdinaryDividend |
| Apr 25, 2022 | $0.022 | OrdinaryDividend |
| Mar 24, 2022 | $0.021 | OrdinaryDividend |
| Feb 24, 2022 | $0.021 | OrdinaryDividend |
| Dec 17, 2021 | $0.021 | OrdinaryDividend |
| Nov 24, 2021 | $0.022 | OrdinaryDividend |
| Oct 25, 2021 | $0.022 | OrdinaryDividend |
| Aug 24, 2021 | $0.022 | OrdinaryDividend |
| Jul 26, 2021 | $0.022 | OrdinaryDividend |
| Jun 24, 2021 | $0.021 | OrdinaryDividend |
| May 24, 2021 | $0.022 | OrdinaryDividend |
| Apr 26, 2021 | $0.022 | OrdinaryDividend |
| Mar 24, 2021 | $0.022 | OrdinaryDividend |
| Feb 24, 2021 | $0.022 | OrdinaryDividend |
| Jan 25, 2021 | $0.023 | OrdinaryDividend |
| Dec 17, 2020 | $0.023 | OrdinaryDividend |
| Nov 24, 2020 | $0.022 | OrdinaryDividend |
| Oct 26, 2020 | $0.021 | OrdinaryDividend |
| Sep 24, 2020 | $0.023 | OrdinaryDividend |
| Aug 24, 2020 | $0.023 | OrdinaryDividend |
| Jul 24, 2020 | $0.023 | OrdinaryDividend |
| May 26, 2020 | $0.022 | OrdinaryDividend |
OMIIX - Fund Manager Analysis
Managers
Richard Gallo
Start Date
Tenure
Tenure Rank
Oct 31, 2017
4.58
4.6%
R.J. Gallo, Senior Portfolio Manager and Head of the Municipal Bond Investment Group, has been the Fund's Portfolio Manager since April of 2010. Mr. Gallo joined Federated in 2000 as an Investment Analyst. He became a Senior Vice President of the Fund's Adviser in 2011. From 2005 to 2010 Mr. Gallo served as Vice President and from January 2002 through 2004 and as an Assistant Vice President of the Fund's Adviser. He has been a Portfolio Manager since December 2002. From 1996 to 2000, Mr. Gallo was a Financial Analyst and Trader at the Federal Reserve Bank of New York. Mr. Gallo has received the Chartered Financial Analyst designation and a Master's in Public Affairs with a concentration in Economics and Public Policy from Princeton University.
Ann Ferentino
Start Date
Tenure
Tenure Rank
Apr 04, 2022
0.16
0.2%
Ms. Ferentino joined Federated in November 1995 as a financial analyst and has worked in investment management since 2000. Ms. Ferentino has received the Chartered Financial Analyst designation. She received her B.S. from the University of Dayton and M.B.A. from the University of Pittsburgh.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
