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Trending ETFs

Federated Hermes Conservative Municipal Microshort Fund

mutual fund
FHMIX
Payout Change
Pending
Price as of:
$10.0 +0.0 +0.0%
primary theme
Municipal Bond
share class
A (FHMAX) Instl (FHMIX)
FHMIX (Mutual Fund)

Federated Hermes Conservative Municipal Microshort Fund

Payout Change
Pending
Price as of:
$10.0 +0.0 +0.0%
primary theme
Municipal Bond
share class
A (FHMAX) Instl (FHMIX)
FHMIX (Mutual Fund)

Federated Hermes Conservative Municipal Microshort Fund

Payout Change
Pending
Price as of:
$10.0 +0.0 +0.0%
primary theme
Municipal Bond
share class
A (FHMAX) Instl (FHMIX)

Name

As of 12/24/2024

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 Conservative Municipal Microshort Fund

FHMIX | Fund

$10.00

$257 M

3.36%

$0.34

0.45%

Vitals

YTD Return

3.7%

1 yr return

3.7%

3 Yr Avg Return

2.8%

5 Yr Avg Return

N/A

Net Assets

$257 M

Holdings in Top 10

31.0%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

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 12/24/2024

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 Conservative Municipal Microshort Fund

FHMIX | Fund

$10.00

$257 M

3.36%

$0.34

0.45%

FHMIX - Profile

Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.28%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Federated Hermes Conservative Municipal Microshort Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Feb 03, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kyle Stewart

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. Up to 40% of 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 is not a money market fund, is not subject to the special regulatory requirements and risk limiting conditions (including maturity, liquidity and credit quality constraints) applicable to money market funds, and does not qualify for special money market fund tax accounting methods under certain Treasury regulations.The Fund seeks to invest all of its assets in securities or issuers rated investment grade (or unrated securities of comparable quality). Within investment-grade securities, the Fund may invest up to 15% of its assets in BBB rated, fixed-income securities or, with respect to securities maturing in 397 days or less, securities with short-term ratings of comparable credit quality to BBB (i.e., A-3 or P-3 ratings). Although the value of the Fund’s shares will fluctuate, the Fund’s investment adviser (the “Adviser”) seeks to maintain a low degree of share price fluctuation by executing a “microshort” strategy. The Adviser considers a “microshort” strategy to be consistent with a relatively short dollar-weighted average portfolio maturity which, in the case of the Fund, will generally be limited to a maximum of 180 days. Under normal market conditions, individual securities’ maturities will not exceed 2.5 years for fixed rate securities and 3 years for floating rate securities.The Fund focuses its investments in the municipal bond sector. 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; municipal mortgage-backed securities; planned amortization classes (a form of municipal mortgage-backed security issued with a companion class or classes to control prepayment risks); 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, such as guarantees, letters of credit or bond insurance.The Adviser actively manages the Fund’s portfolio, seeking to buy securities to further its investment objective and to sell a security when, in the view of the Adviser, it is no longer attractive in furthering the Fund’s investment objective or if the Adviser deems it to be not in the best interest of the Fund. The Adviser attempts to manage the Fund’s credit risk by selecting securities that make default in the payment of principal and interest less likely.The Adviser may seek higher returns than may be offered by a tax-exempt money market fund by generally investing in: variable rate demand notes, municipal notes and short-term municipal bonds.Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments the income from which is exempt from federal regular income tax. This policy may not be changed without shareholder approval.
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FHMIX - Performance

Return Ranking - Trailing

Period FHMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -7.3% 37.5% 2.22%
1 Yr 3.7% -7.4% 37.6% 2.55%
3 Yr 2.8%* -11.8% 5.1% 0.27%
5 Yr N/A* -7.4% 1103.2% N/A
10 Yr N/A* -1.1% 248.8% N/A

* Annualized

Return Ranking - Calendar

Period FHMIX Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% -1.4% 41.0% 99.46%
2022 0.0% -39.7% 0.3% 0.14%
2021 N/A -5.6% 6.9% N/A
2020 N/A -2.6% 310.0% N/A
2019 N/A 0.0% 26.0% N/A

Total Return Ranking - Trailing

Period FHMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -7.3% 37.5% 2.22%
1 Yr 3.7% -7.4% 37.6% 2.55%
3 Yr 2.8%* -11.8% 5.1% 0.27%
5 Yr N/A* -7.4% 1103.2% N/A
10 Yr N/A* -1.1% 248.8% N/A

* Annualized

Total Return Ranking - Calendar

Period FHMIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -1.3% 41.0% 90.64%
2022 1.1% -39.7% 1.1% 0.07%
2021 N/A -4.8% 23761504.0% N/A
2020 N/A -1.5% 17057.9% N/A
2019 N/A 0.2% 3514.6% N/A

NAV & Total Return History

FHMIX - Holdings

Concentration Analysis

FHMIX Category Low Category High FHMIX % Rank
Net Assets 257 M 3.22 M 71.9 B 65.46%
Number of Holdings 101 4 13418 84.28%
Net Assets in Top 10 74 M -317 M 3.09 B 54.33%
Weighting of Top 10 30.96% 1.8% 100.3% 11.56%

Top 10 Holdings

  1. JPMorgan Chase Putters/Drivers Trust 4.73%
  2. American Falls Reservoir District 3.91%
  3. Mizuho Floater/Residual Trust 3.77%
  4. Nuveen California AMT-Free Quality Municipal Income Fund 3.14%
  5. Deutsche Bank Spears/Lifers Trust 2.93%
  6. Nuveen AMT-Free Quality Municipal Income Fund 2.64%
  7. Port of Port Arthur Navigation District 2.57%
  8. JPMorgan Chase Putters/Drivers Trust 2.51%
  9. Mizuho Floater/Residual Trust 2.51%
  10. Louisville/Jefferson County Metropolitan Government 2.26%

Asset Allocation

Weighting Return Low Return High FHMIX % Rank
Bonds 		94.25% 0.00% 150.86% 91.34%
Cash 		4.12% -50.86% 44.62% 11.82%
Stocks 		1.63% 0.00% 99.77% 3.42%
Preferred Stocks 		0.00% 0.00% 0.07% 62.39%
Other 		0.00% -3.69% 53.54% 63.94%
Convertible Bonds 		0.00% 0.00% 0.93% 61.83%

Stock Sector Breakdown

Weighting Return Low Return High FHMIX % Rank
Utilities 		0.00% 0.00% 0.00% N/A
Technology 		0.00% 0.00% 0.00% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 100.00% N/A
Healthcare 		0.00% 0.00% 0.00% N/A
Financial Services 		0.00% 0.00% 0.00% N/A
Energy 		0.00% 0.00% 0.00% N/A
Communication Services 		0.00% 0.00% 100.00% N/A
Consumer Defense 		0.00% 0.00% 0.00% N/A
Consumer Cyclical 		0.00% 0.00% 100.00% N/A
Basic Materials 		0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High FHMIX % Rank
US 		1.63% 0.00% 99.77% 3.43%
Non US 		0.00% 0.00% 10.22% 62.26%

Bond Sector Breakdown

Weighting Return Low Return High FHMIX % Rank
Municipal 		88.12% 44.39% 100.00% 96.56%
Cash & Equivalents 		3.76% 0.00% 44.41% 11.55%
Derivative 		0.00% -3.69% 53.54% 62.53%
Securitized 		0.00% 0.00% 5.93% 60.82%
Corporate 		0.00% 0.00% 9.41% 67.23%
Government 		0.00% 0.00% 52.02% 64.13%

Bond Geographic Breakdown

Weighting Return Low Return High FHMIX % Rank
US 		94.25% 0.00% 142.23% 89.66%
Non US 		0.00% 0.00% 23.89% 64.61%

FHMIX - Expenses

Operational Fees

FHMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.01% 8.02% 86.96%
Management Fee 0.25% 0.00% 1.20% 10.94%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FHMIX 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

FHMIX 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.

FHMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 283.00% 0.15%

FHMIX - Distributions

Dividend Yield Analysis

FHMIX Category Low Category High FHMIX % Rank
Dividend Yield 3.36% 0.00% 14.51% 6.11%

Dividend Distribution Analysis

FHMIX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

FHMIX Category Low Category High FHMIX % Rank
Net Income Ratio 0.28% -0.53% 5.33% 97.76%

Capital Gain Distribution Analysis

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

Distributions History

View More +

FHMIX - Fund Manager Analysis

Managers

Kyle Stewart

Start Date

Tenure

Tenure Rank

Jan 21, 2021

1.36

1.4%

Patrick Strollo

Start Date

Tenure

Tenure Rank

Jan 21, 2021

1.36

1.4%

Mary Ochson

Start Date

Tenure

Tenure Rank

Jan 21, 2021

1.36

1.4%

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 7.36 1.58

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