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Trending ETFs

Federated Hermes Ultrashort Bond Fund

mutual fund
FULAX
Payout Change
Pending
Price as of:
$9.28 +0.01 +0.11%
primary theme
U.S. Ultrashort Bond Duration
share class
S (FULBX) Instl (FULIX) A (FULAX) R6 (FULLX)
FULAX (Mutual Fund)

Federated Hermes Ultrashort Bond Fund

Payout Change
Pending
Price as of:
$9.28 +0.01 +0.11%
primary theme
U.S. Ultrashort Bond Duration
share class
S (FULBX) Instl (FULIX) A (FULAX) R6 (FULLX)
FULAX (Mutual Fund)

Federated Hermes Ultrashort Bond Fund

Payout Change
Pending
Price as of:
$9.28 +0.01 +0.11%
primary theme
U.S. Ultrashort Bond Duration
share class
S (FULBX) Instl (FULIX) A (FULAX) R6 (FULLX)

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 Ultrashort Bond Fund

FULAX | Fund

$9.28

$2.88 B

4.90%

$0.45

0.65%

Vitals

YTD Return

5.9%

1 yr return

6.0%

3 Yr Avg Return

3.3%

5 Yr Avg Return

2.5%

Net Assets

$2.88 B

Holdings in Top 10

19.5%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 26.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,500

IRA

$250

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 Ultrashort Bond Fund

FULAX | Fund

$9.28

$2.88 B

4.90%

$0.45

0.65%

FULAX - Profile

Distributions

  • YTD Total Return 5.9%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.69%
DIVIDENDS
  • Dividend Yield 4.9%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Federated Hermes Ultrashort Bond Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Oct 11, 2002
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Randall Bauer

Fund Description

The Fund invests primarily (that is, more than 50%) in investment-grade, fixed-income securities, including but not limited to asset-backed (including mortgage-backed) securities and corporate debt securities, but may invest up to 35% of its assets in noninvestment-grade, fixed-income securities. When selecting investments for the Fund, the Fund can invest in securities directly or in other investment companies, including, for example, funds advised by the Fund’s investment adviser (the “Adviser”) or its affiliates (“Underlying Funds”). The Adviser seeks to enhance the Fund’s performance by allocating relatively more of its portfolio to the sector that the Adviser expects to offer the best balance between total return and risk. The Adviser may invest a portion of the Fund’s assets in foreign securities (both investment-grade and noninvestment-grade, including, but not limited to, government and corporate investments). The Fund may invest in hybrid instruments and derivative contracts to implement its investment strategies. 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 may also use Collateralized Mortgage Obligations (CMOs) for hedging purposes.Although the value of the Fund’s Shares will fluctuate, the Adviser actively manages the Fund’s portfolio seeking to manage the magnitude of fluctuation by limiting the Fund’s dollar-weighted average effective duration to one year or less. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. Under normal market conditions, the Fund’s dollar-weighted average effective maturity is expected to be 18 months or less.Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in government securities that have no explicit financial support, but that are regarded as having implied support because the federal government sponsors their activities.The Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to normally invest less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed-income investments.
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FULAX - Performance

Return Ranking - Trailing

Period FULAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% -0.8% 8.5% 32.55%
1 Yr 6.0% -0.5% 8.6% 34.43%
3 Yr 3.3%* -1.2% 5.7% 74.63%
5 Yr 2.5%* -1.0% 4.4% 54.74%
10 Yr 1.9%* -4.1% 27.9% 66.12%

* Annualized

Return Ranking - Calendar

Period FULAX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -2.3% 4.3% 19.81%
2022 -2.2% -6.5% 0.5% 56.59%
2021 -0.5% -2.1% 0.3% 63.32%
2020 0.8% -3.1% 1.8% 19.37%
2019 1.1% -1.2% 6.1% 16.57%

Total Return Ranking - Trailing

Period FULAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.9% -0.8% 8.5% 32.55%
1 Yr 6.0% -0.5% 8.6% 34.43%
3 Yr 3.3%* -1.2% 5.7% 74.63%
5 Yr 2.5%* -1.0% 4.4% 54.74%
10 Yr 1.9%* -4.1% 27.9% 66.12%

* Annualized

Total Return Ranking - Calendar

Period FULAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% 0.8% 12.1% 68.40%
2022 -1.1% -5.1% 2.5% 76.59%
2021 0.2% -2.1% 14.5% 42.21%
2020 2.4% -1.0% 3.6% 19.90%
2019 3.2% 0.3% 9.6% 38.67%

NAV & Total Return History

FULAX - Holdings

Concentration Analysis

FULAX Category Low Category High FULAX % Rank
Net Assets 2.88 B 26.6 K 28.6 B 25.47%
Number of Holdings 366 2 1258 39.15%
Net Assets in Top 10 552 M 27.7 K 22.7 B 29.72%
Weighting of Top 10 19.47% 6.3% 159.6% 53.77%

Top 10 Holdings

  1. Federated Hermes Government Obligations Fund 4.68%
  2. U.S. Treasury Floating Rate Notes 3.52%
  3. U.S. Treasury Bills 1.76%
  4. FED HIGH YLD BOND PORT 1.62%
  5. FEDERATED CORE TR FEDERATED BANK LOAN CORE FUND 1.43%
  6. Fontainebleau Miami Beach Trust 2019-FBLU 1.33%
  7. Fannie Mae REMICS 1.32%
  8. Freddie Mac REMICS 1.32%
  9. Fannie Mae REMICS 1.27%
  10. Government National Mortgage Association 1.23%

Asset Allocation

Weighting Return Low Return High FULAX % Rank
Bonds 		55.06% 0.00% 129.63% 83.02%
Other 		37.20% -13.48% 99.96% 7.55%
Convertible Bonds 		4.87% 0.00% 15.25% 28.91%
Cash 		4.69% 0.00% 112.72% 49.53%
Stocks 		3.05% 0.00% 97.16% 9.91%
Preferred Stocks 		0.00% 0.00% 1.02% 61.32%

Stock Sector Breakdown

Weighting Return Low Return High FULAX % Rank
Energy 		100.00% 0.00% 100.00% 22.22%
Utilities 		0.00% 0.00% 0.87% 66.67%
Technology 		0.00% 0.00% 32.06% 66.67%
Real Estate 		0.00% 0.00% 0.00% 44.44%
Industrials 		0.00% 0.00% 2.85% 66.67%
Healthcare 		0.00% 0.00% 4.23% 77.78%
Financial Services 		0.00% 0.00% 99.34% 77.78%
Communication Services 		0.00% 0.00% 11.28% 66.67%
Consumer Defense 		0.00% 0.00% 4.16% 66.67%
Consumer Cyclical 		0.00% 0.00% 11.26% 66.67%
Basic Materials 		0.00% 0.00% 0.00% 44.44%

Stock Geographic Breakdown

Weighting Return Low Return High FULAX % Rank
US 		3.05% 0.00% 97.16% 9.91%
Non US 		0.00% 0.00% 0.00% 60.85%

Bond Sector Breakdown

Weighting Return Low Return High FULAX % Rank
Securitized 		54.43% 0.00% 100.00% 15.17%
Corporate 		42.97% 0.00% 99.91% 41.71%
Cash & Equivalents 		4.68% 0.00% 112.72% 43.40%
Government 		0.07% 0.00% 100.00% 72.51%
Derivative 		0.00% -13.48% 16.56% 19.34%
Municipal 		0.00% 0.00% 70.39% 79.15%

Bond Geographic Breakdown

Weighting Return Low Return High FULAX % Rank
US 		55.06% 0.00% 129.63% 83.02%
Non US 		0.00% 0.00% 20.18% 66.04%

FULAX - Expenses

Operational Fees

FULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.08% 29.63% 30.62%
Management Fee 0.29% 0.00% 1.19% 66.04%
12b-1 Fee N/A 0.00% 1.00% 81.44%
Administrative Fee 0.10% 0.01% 0.40% 39.13%

Sales Fees

FULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% 77.78%
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

FULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

FULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 26.00% 0.00% 336.00% 10.11%

FULAX - Distributions

Dividend Yield Analysis

FULAX Category Low Category High FULAX % Rank
Dividend Yield 4.90% 0.00% 8.76% 82.55%

Dividend Distribution Analysis

FULAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Monthly Monthly

Net Income Ratio Analysis

FULAX Category Low Category High FULAX % Rank
Net Income Ratio 0.69% -1.30% 14.86% 29.90%

Capital Gain Distribution Analysis

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

Distributions History

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FULAX - Fund Manager Analysis

Managers

Randall Bauer

Start Date

Tenure

Tenure Rank

Oct 31, 1998

23.6

23.6%

Randall S. Bauer, CFA is a Senior Vice President, Senior Portfolio Manager and Head of Structured Products Group for Federated. Mr. Bauer is responsible for management and administration of structured product portfolios, as well as portfolio management of products with investment concentrations in investment-grade and short duration securities. Mr. Bauer has over 34 years of investment experience. Prior to joining Federated, he worked in the Credit Policy and International Banking Divisions at PNC Bank Corp. Mr. Bauer holds a B.A. from the University of Pennsylvania and an M.B.A. in Finance from the Pennsylvania State University. He is a Chartered Financial Analyst.

Nicholas Tripodes

Start Date

Tenure

Tenure Rank

Nov 30, 2017

4.5

4.5%

Mr. Tripodes is responsible for providing research and advice on sector allocation and security selection. He has been with Federated since 1993. He holds a B.S. degree from Carnegie Mellon University and an M.B.A. from University of Pittsburgh.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.52 7.92

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