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Trending ETFs

Federated Hermes Institutional High Yield Bond Fund

mutual fund
FIHLX
Payout Change
Pending
Price as of:
$8.85 -0.05 -0.56%
primary theme
High Yield Bond
share class
R6 (FIHLX) A (FIHAX) Instl (FIHBX) C (FIHCX)
FIHLX (Mutual Fund)

Federated Hermes Institutional High Yield Bond Fund

Payout Change
Pending
Price as of:
$8.85 -0.05 -0.56%
primary theme
High Yield Bond
share class
R6 (FIHLX) A (FIHAX) Instl (FIHBX) C (FIHCX)
FIHLX (Mutual Fund)

Federated Hermes Institutional High Yield Bond Fund

Payout Change
Pending
Price as of:
$8.85 -0.05 -0.56%
primary theme
High Yield Bond
share class
R6 (FIHLX) A (FIHAX) Instl (FIHBX) C (FIHCX)

Name

As of 12/19/2024

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 Institutional High Yield Bond Fund

FIHLX | Fund

$8.85

$7.66 B

6.55%

$0.58

0.51%

Vitals

YTD Return

6.9%

1 yr return

7.5%

3 Yr Avg Return

2.4%

5 Yr Avg Return

3.5%

Net Assets

$7.66 B

Holdings in Top 10

11.4%

52 WEEK LOW AND HIGH

$8.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 32.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/19/2024

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 Institutional High Yield Bond Fund

FIHLX | Fund

$8.85

$7.66 B

6.55%

$0.58

0.51%

FIHLX - Profile

Distributions

  • YTD Total Return 6.9%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.78%
DIVIDENDS
  • Dividend Yield 6.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes Institutional High Yield Bond Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Jun 30, 2016
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mark Durbiano

Fund Description

The Fund pursues its investment objective by investing primarily in a diversified portfolio of high yield corporate bonds (also known as “junk bonds”), which include debt securities issued by U.S. or foreign businesses (including emerging market debt securities). 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. The Adviser does not limit the Fund’s investments to securities of a particular maturity range.The Fund may invest in derivative contracts (for example, futures contracts, option contracts and swap contracts) to implement its investment strategies as more fully described in the Fund’s 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 will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in investments rated below investment grade. The Fund will notify shareholders 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 investments rated below investment grade. For purposes of this limitation, investments rated below investment grade are defined as high yield debt instruments (also known as “junk bonds”).
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FIHLX - Performance

Return Ranking - Trailing

Period FIHLX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -8.0% 17.4% 70.72%
1 Yr 7.5% -8.2% 18.4% 67.11%
3 Yr 2.4%* -14.5% 21.2% 60.54%
5 Yr 3.5%* -11.8% 36.7% 48.66%
10 Yr N/A* -4.7% 20.2% 17.25%

* Annualized

Return Ranking - Calendar

Period FIHLX Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -4.7% 14.3% 40.39%
2022 -15.8% -33.4% 3.6% 54.73%
2021 -0.4% -8.4% 8.2% 67.47%
2020 0.4% -13.2% 302.7% 40.60%
2019 8.4% -4.4% 13.3% 44.81%

Total Return Ranking - Trailing

Period FIHLX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -8.0% 17.4% 70.72%
1 Yr 7.5% -8.2% 18.4% 67.11%
3 Yr 2.4%* -14.5% 21.2% 60.54%
5 Yr 3.5%* -11.8% 36.7% 48.66%
10 Yr N/A* -4.7% 20.2% 16.39%

* Annualized

Total Return Ranking - Calendar

Period FIHLX Return Category Return Low Category Return High Rank in Category (%)
2023 12.3% -4.7% 18.7% 46.31%
2022 -11.0% -33.4% 47.8% 56.22%
2021 5.2% -8.4% 12.4% 44.06%
2020 6.5% -9.6% 325.6% 29.43%
2019 15.0% -3.8% 19.4% 21.86%

NAV & Total Return History

FIHLX - Holdings

Concentration Analysis

FIHLX Category Low Category High FIHLX % Rank
Net Assets 7.66 B 3.13 M 25.3 B 9.82%
Number of Holdings 575 2 3879 28.95%
Net Assets in Top 10 866 M -492 M 5.25 B 9.21%
Weighting of Top 10 11.36% 4.2% 146.0% 64.64%

Top 10 Holdings

  1. Federated Hermes Government Obligations Fund 3.45%
  2. Panther BF Aggregator 2 LP / Panther Finance Co Inc 1.06%
  3. Mozart Debt Merger Sub Inc 0.93%
  4. Clydesdale Acquisition Holdings Inc 0.93%
  5. Condor Merger Sub Inc 0.89%
  6. Minerva Merger Sub Inc 0.86%
  7. 1011778 BC ULC / New Red Finance Inc 0.85%
  8. Ardonagh Group Finance Ltd 0.82%
  9. BroadStreet Partners Inc 0.79%
  10. MIDAS OPCO HOLDINGS LLC 0.78%

Asset Allocation

Weighting Return Low Return High FIHLX % Rank
Bonds 		95.85% 0.00% 145.36% 43.70%
Cash 		4.15% -52.00% 48.02% 43.26%
Convertible Bonds 		0.38% 0.00% 17.89% 85.20%
Stocks 		0.00% 0.00% 97.54% 89.53%
Preferred Stocks 		0.00% 0.00% 4.97% 80.26%
Other 		0.00% -39.08% 99.86% 75.49%

Bond Sector Breakdown

Weighting Return Low Return High FIHLX % Rank
Corporate 		98.75% 0.00% 100.00% 7.58%
Cash & Equivalents 		3.45% 0.00% 48.02% 48.36%
Derivative 		0.00% -14.58% 42.26% 67.27%
Securitized 		0.00% 0.00% 97.24% 82.54%
Municipal 		0.00% 0.00% 1.17% 69.03%
Government 		0.00% 0.00% 99.07% 75.78%

Bond Geographic Breakdown

Weighting Return Low Return High FIHLX % Rank
US 		95.85% 0.00% 126.57% 34.05%
Non US 		0.00% 0.00% 96.91% 78.78%

FIHLX - Expenses

Operational Fees

FIHLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.51% 0.02% 38.33% 90.80%
Management Fee 0.40% 0.00% 1.75% 14.43%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.50% 52.97%

Sales Fees

FIHLX 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

FIHLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 28.81%

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.

FIHLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 32.00% 1.00% 255.00% 8.45%

FIHLX - Distributions

Dividend Yield Analysis

FIHLX Category Low Category High FIHLX % Rank
Dividend Yield 6.55% 0.00% 11.76% 56.37%

Dividend Distribution Analysis

FIHLX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

FIHLX Category Low Category High FIHLX % Rank
Net Income Ratio 4.78% -2.39% 9.30% 30.32%

Capital Gain Distribution Analysis

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

Distributions History

View More +

FIHLX - Fund Manager Analysis

Managers

Mark Durbiano

Start Date

Tenure

Tenure Rank

Nov 01, 2002

19.59

19.6%

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.

Steven Wagner

Start Date

Tenure

Tenure Rank

Dec 31, 2017

4.42

4.4%

Mr. Wagner joined Federated in 1997 as an analyst in the high yield area and has been Senior Investment Analyst and Vice President of Federated Investment Management Company since 2003. Mr. Wagner received his B.S. from Boston College and his M.B.A. in Finance from the University of Pittsburgh.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.31 8.17

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