Home
Guide
Picks
High Yield
Dates
Monthly
Screener
Resources
ESG
Retire
Channels
Continue to site >
Trending ETFs

Federated Hermes Ohio Municipal Income Fund

mutual fund
OMIAX
Payout Change
Pending
Price as of:
$10.56 -0.01 -0.09%
primary theme
Municipal Bond
share class
F (OMIFX) Instl (OMIIX) A (OMIAX)
OMIAX (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
F (OMIFX) Instl (OMIIX) A (OMIAX)
OMIAX (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
F (OMIFX) Instl (OMIIX) A (OMIAX)

Name

As of 12/09/2024

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 Ohio Municipal Income Fund

OMIAX | Fund

$10.56

$81.2 M

2.74%

$0.29

1.12%

Vitals

YTD Return

3.0%

1 yr return

4.9%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

0.7%

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 1.12%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 5.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,500

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/09/2024

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 Ohio Municipal Income Fund

OMIAX | Fund

$10.56

$81.2 M

2.74%

$0.29

1.12%

OMIAX - Profile

Distributions

  • YTD Total Return 3.0%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.08%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Federated Hermes Ohio Municipal Income Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Nov 18, 2008
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Richard 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.
Read More

OMIAX - Performance

Return Ranking - Trailing

Period OMIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -4.3% 40.7% 69.91%
1 Yr 4.9% -2.6% 46.0% 53.26%
3 Yr -0.4%* -10.3% 6.3% 62.57%
5 Yr 0.7%* -6.5% 1105.2% 70.13%
10 Yr 1.8%* -0.9% 249.0% 48.54%

* Annualized

Return Ranking - Calendar

Period OMIAX Return Category Return Low Category Return High Rank in Category (%)
2023 2.9% -1.4% 41.0% 42.49%
2022 -10.8% -39.7% 0.3% 40.89%
2021 -0.7% -5.6% 6.9% 60.27%
2020 1.9% -2.6% 310.0% 42.72%
2019 3.3% 0.0% 26.0% 69.98%

Total Return Ranking - Trailing

Period OMIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -4.3% 40.7% 69.91%
1 Yr 4.9% -2.6% 46.0% 53.26%
3 Yr -0.4%* -10.3% 6.3% 62.57%
5 Yr 0.7%* -6.5% 1105.2% 70.13%
10 Yr 1.8%* -0.9% 249.0% 48.54%

* Annualized

Total Return Ranking - Calendar

Period OMIAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -1.3% 41.0% 61.62%
2022 -8.9% -39.7% 1.1% 44.30%
2021 1.3% -4.8% 23761504.0% 56.15%
2020 3.5% -1.5% 17057.9% 59.10%
2019 6.0% 0.2% 3514.6% 65.23%

NAV & Total Return History

OMIAX - Holdings

Concentration Analysis

OMIAX Category Low Category High OMIAX % Rank
Net Assets 81.2 M 3.22 M 71.9 B 89.85%
Number of Holdings 105 4 13418 82.94%
Net Assets in Top 10 20 M -317 M 3.09 B 87.84%
Weighting of Top 10 24.46% 1.8% 100.3% 25.40%

Top 10 Holdings

  1. County of Franklin OH Sales Tax Revenue 3.85%
  2. County of Hamilton OH 2.90%
  3. State of Ohio 2.59%
  4. COLUMBUS CITY SCHOOL DISTRICT 2.53%
  5. State of Ohio 2.47%
  6. FRANKLIN COUNTY CONVENTION FACILITIES AUTHORITY 2.46%
  7. State of Ohio 2.03%
  8. STATE OF OHIO 1.89%
  9. OLENTANGY LOCAL SCHOOL DISTRICT 1.89%
  10. American Municipal Power Inc 1.85%

Asset Allocation

Weighting Return Low Return High OMIAX % Rank
Bonds 		99.04% 0.00% 150.86% 48.39%
Cash 		0.96% -50.86% 44.62% 52.52%
Stocks 		0.00% 0.00% 99.78% 82.28%
Preferred Stocks 		0.00% 0.00% 0.07% 80.46%
Other 		0.00% -3.69% 53.54% 78.04%
Convertible Bonds 		0.00% 0.00% 0.93% 80.24%

Bond Sector Breakdown

Weighting Return Low Return High OMIAX % Rank
Municipal 		100.00% 44.39% 100.00% 7.89%
Derivative 		0.00% -3.69% 53.54% 77.64%
Cash & Equivalents 		0.00% 0.00% 44.41% 92.55%
Securitized 		0.00% 0.00% 5.93% 80.31%
Corporate 		0.00% 0.00% 9.41% 82.13%
Government 		0.00% 0.00% 52.02% 82.40%

Bond Geographic Breakdown

Weighting Return Low Return High OMIAX % Rank
US 		99.04% 0.00% 142.23% 46.41%
Non US 		0.00% 0.00% 23.89% 82.61%

OMIAX - Expenses

Operational Fees

OMIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.12% 0.01% 8.02% 26.08%
Management Fee 0.40% 0.00% 1.20% 43.09%
12b-1 Fee 0.00% 0.00% 1.00% 13.00%
Administrative Fee 0.10% 0.01% 0.44% 43.06%

Sales Fees

OMIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.50% 4.75% 8.91%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

OMIAX 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.

OMIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.00% 0.00% 283.00% 6.37%

OMIAX - Distributions

Dividend Yield Analysis

OMIAX Category Low Category High OMIAX % Rank
Dividend Yield 2.74% 0.00% 14.51% 63.36%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

OMIAX Category Low Category High OMIAX % Rank
Net Income Ratio 2.08% -0.53% 5.33% 43.58%

Capital Gain Distribution Analysis

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

Distributions History

View More +

OMIAX - 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

Advertisement

×

Wait! Rates are rising, is your portfolio ready?

×