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Trending ETFs

Federated Hermes Municipal High Yield Advantage Fund

mutual fund
FHTFX
Payout Change
Pending
Price as of:
$8.1 +0.03 +0.37%
primary theme
High Yield Municipal Bond
share class
C (FMNCX) Instl (FMYIX) A (FMOAX) F (FHTFX)
FHTFX (Mutual Fund)

Federated Hermes Municipal High Yield Advantage Fund

Payout Change
Pending
Price as of:
$8.1 +0.03 +0.37%
primary theme
High Yield Municipal Bond
share class
C (FMNCX) Instl (FMYIX) A (FMOAX) F (FHTFX)
FHTFX (Mutual Fund)

Federated Hermes Municipal High Yield Advantage Fund

Payout Change
Pending
Price as of:
$8.1 +0.03 +0.37%
primary theme
High Yield Municipal Bond
share class
C (FMNCX) Instl (FMYIX) A (FMOAX) F (FHTFX)

Name

As of 12/20/2024

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 Municipal High Yield Advantage Fund

FHTFX | Fund

$8.10

$485 M

3.84%

$0.31

1.07%

Vitals

YTD Return

4.8%

1 yr return

5.0%

3 Yr Avg Return

-1.0%

5 Yr Avg Return

1.1%

Net Assets

$485 M

Holdings in Top 10

13.0%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.07%

SALES FEES

Front Load 1.00%

Deferred Load N/A

TRADING FEES

Turnover 12.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,500

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/20/2024

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 Municipal High Yield Advantage Fund

FHTFX | Fund

$8.10

$485 M

3.84%

$0.31

1.07%

FHTFX - Profile

Distributions

  • YTD Total Return 4.8%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.35%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Federated Hermes Municipal High Yield Advantage Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    N/A
  • Share Class
    F
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Lee Cunningham

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 (except when investing for “defensive” purposes). 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 invests at least a majority of the Fund’s assets in a portfolio of: (1) long-term, tax-exempt securities; and (2) medium-quality or noninvestment-grade, tax-exempt securities. Long-term, tax-exempt securities generally include tax-exempt securities with stated maturities of 10 years or more. The Fund also may invest in tax-exempt securities with stated maturities of less than 10 years. 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. 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. For example, securities rated AAA, AA, A or BBB (including modifiers, sub-categories or gradations) by S&PGlobal Ratings(“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.Medium-quality securities generally include securities rated in the third or fourth highest rating category by an NRSRO and unrated securities of comparable quality. For example, tax-exempt securities rated A and BBB by S&P Global, an NRSRO, are rated in the third (A) and fourth (BBB) highest rating categories, respectively. Under relevant SEC guidance, the Fund is permitted to invest in medium-quality and other investment-grade, tax-exempt securities to a greater degree than a high-yield bond fund that does not invest primarily in tax-exempt municipal securities. The Fund invests at least a majority of its assets in medium-quality or noninvestment-grade, tax-exempt securities in an attempt to pursue a higher level of current income than a tax-exempt bond fund that invests purely in investment-grade securities. The Adviser may invest up to 100% of the Fund’s assets in noninvestment-grade, tax-exempt securities.Although medium-quality securities are still considered investment-grade securities, lower credit ratings do correspond to higher perceived credit risk. Medium-quality, tax-exempt securities generally are subject to tax-exempt securities risk, interest rate, issuer credit, counterparty credit, liquidity, tax, leverage, call, sector, prepayment, credit enhancement and economic risks as described in this Prospectus. Noninvestment-grade securities, which are also known as junk bonds, also generally are subject to these same risks, as well as the risks of investing in noninvestment-grade securities as described in this Prospectus. 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 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 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 of the Fund’s portfolio or to hedge against potential losses. Derivative contracts and hybrid instruments also may be subject to the risks of investing in derivative contracts and hybrid instruments as described in this Prospectus. 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 also may invest in certain securities or other investments (such as money market funds, 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). The ordinary income derived from these investment strategies generally will be limited to approximately 5% or less of the Fund’s annual distributions.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 Fund invests its assets so that at least 80% of the income that it distributes will be exempt from federal regular income tax, except when investing for “defensive” purposes. This policy may not be changed without shareholder approval.
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FHTFX - Performance

Return Ranking - Trailing

Period FHTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -3.1% 12.1% 41.29%
1 Yr 5.0% -2.2% 12.7% 35.32%
3 Yr -1.0%* -9.0% 3.6% 40.31%
5 Yr 1.1%* -5.1% 3.5% 46.15%
10 Yr 2.8%* -0.7% 155.3% 45.67%

* Annualized

Return Ranking - Calendar

Period FHTFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.4% -6.2% 7.5% 63.37%
2022 -16.0% -26.9% -3.5% 30.15%
2021 2.2% -1.9% 5.6% 46.70%
2020 -0.8% -4.0% 4.2% 80.61%
2019 5.5% -0.7% 9.1% 38.42%

Total Return Ranking - Trailing

Period FHTFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.8% -3.1% 12.1% 41.29%
1 Yr 5.0% -2.2% 12.7% 35.32%
3 Yr -1.0%* -9.0% 3.6% 40.31%
5 Yr 1.1%* -5.1% 3.5% 46.15%
10 Yr 2.8%* -0.7% 155.3% 45.67%

* Annualized

Total Return Ranking - Calendar

Period FHTFX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -4.1% 10.9% 60.40%
2022 -13.0% -26.9% 4.3% 34.67%
2021 5.5% -1.9% 10.0% 48.73%
2020 2.9% -2.6% 8.2% 63.78%
2019 9.1% -0.7% 1028633.9% 41.05%

NAV & Total Return History

FHTFX - Holdings

Concentration Analysis

FHTFX Category Low Category High FHTFX % Rank
Net Assets 485 M 3.1 M 15.6 B 65.50%
Number of Holdings 373 20 3325 58.79%
Net Assets in Top 10 63 M -102 M 1.96 B 71.86%
Weighting of Top 10 13.02% 4.6% 98.9% 47.74%

Top 10 Holdings

  1. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 3.19%
  2. State of Illinois 1.76%
  3. Buckeye Tobacco Settlement Financing Authority 1.44%
  4. City of San Antonio TX Electric Gas Systems Revenue 1.15%
  5. JPMorgan Chase Putters/Drivers Trust 1.05%
  6. Colorado Health Facilities Authority 1.00%
  7. Northampton County General Purpose Authority 0.90%
  8. TOBACCO SETTLEMENT FINANCING CORP/VA 0.88%
  9. Tobacco Settlement Financing Corp/NJ 0.84%
  10. City of Chicago IL 0.82%

Asset Allocation

Weighting Return Low Return High FHTFX % Rank
Bonds 		101.35% 0.00% 146.69% 23.27%
Stocks 		0.00% 0.00% 99.72% 71.78%
Preferred Stocks 		0.00% -47.61% 0.00% 65.83%
Other 		0.00% -5.67% 5.07% 64.32%
Convertible Bonds 		0.00% 0.00% 0.00% 62.31%
Cash 		0.00% -0.64% 10.86% 85.93%

Bond Sector Breakdown

Weighting Return Low Return High FHTFX % Rank
Municipal 		100.00% 50.68% 100.00% 5.03%
Derivative 		0.00% -7.70% 2.16% 59.80%
Cash & Equivalents 		0.00% 0.00% 10.86% 73.87%
Securitized 		0.00% 0.00% 22.44% 63.82%
Corporate 		0.00% 0.00% 2.83% 80.40%
Government 		0.00% 0.00% 0.09% 62.81%

Bond Geographic Breakdown

Weighting Return Low Return High FHTFX % Rank
US 		101.35% 0.00% 139.84% 23.62%
Non US 		0.00% 0.00% 13.35% 66.83%

FHTFX - Expenses

Operational Fees

FHTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.07% 0.22% 3.44% 42.57%
Management Fee 0.60% 0.00% 1.41% 86.14%
12b-1 Fee 0.00% 0.00% 1.00% 11.21%
Administrative Fee 0.10% 0.02% 0.35% 55.00%

Sales Fees

FHTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 1.00% 1.00% 4.50% 100.00%
Deferred Load N/A 1.00% 4.00% 57.78%

Trading Fees

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

FHTFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 2.00% 121.00% 14.97%

FHTFX - Distributions

Dividend Yield Analysis

FHTFX Category Low Category High FHTFX % Rank
Dividend Yield 3.84% 0.00% 5.94% 56.44%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FHTFX Category Low Category High FHTFX % Rank
Net Income Ratio 3.35% 1.11% 5.44% 37.62%

Capital Gain Distribution Analysis

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

Distributions History

View More +

FHTFX - Fund Manager Analysis

Managers

Lee Cunningham

Start Date

Tenure

Tenure Rank

Apr 30, 2009

13.09

13.1%

Lee R. Cunningham II is Vice President of the Trust with respect to the Fund. Mr. Cunningham joined Federated in 1995 as an Investment Analyst and has been a Portfolio Manager since 1998. He was named an Assistant Vice President of Federated Investors in January 1998 and became a Vice President of Federated Investors in July 2000. From 1986 through 1994, Mr. Cunningham was a Project Engineer with Pennsylvania Power and Light Company. Mr. Cunningham received his M.B.A. with concentrations in Finance and Operations from the University of Pittsburgh.

Richard Gallo

Start Date

Tenure

Tenure Rank

Apr 23, 2010

12.11

12.1%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.58 2.52

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