Morningstar

Federated Hermes Sustainable High Yield Bond Class R6 Shares FHBRX

Morningstar Medalist Rating
Medalist Rating as of | See Federated Hermes Investment Hub
  • NAV / 1-Day Return 6.80  /  −0.58 %
  • Total Assets 489.9M
  • Adj. Expense Ratio
    0.640%
  • Expense Ratio 0.630%
  • Distribution Fee Level Above Average
  • Share Class Type Retirement, Large
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low/Limited
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 5.74%
  • Effective Duration 3.20 years

USD | NAV as of Jul 11, 2026 | 1-Day Return as of Jul 11, 2026, 12:11 AM GMT+0

Morningstar’s Analysis FHBRX

Will FHBRX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FHBRX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FHBRX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FHBRX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Principal Maciej Kowara

Maciej Kowara

Principal

Summary

A disciplined high-yield playbook that still earns confidence. Federated Hermes Institutional High Yield Bond is a distinctive high-yield strategy that relies on bottom-up credit work rather than agency ratings to identify resilient businesses. Its differentiated approach, seasoned team, and proven results make it a compelling option.

by Maciej Kowara
Rated on Published on

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Portfolio Holdings FHBRX

More FHBRX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 11.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Federated Govt Oblg Pr Shares

2.42 12M
—

Medline Borrower LP 5.25%

1.31 6M
Corporate

Ardonagh Group Finance Ltd. 8.875%

1.23 6M
Corporate

Broadstreet Partners Inc 5.875%

1.20 6M
Corporate

Madison IAQ LLC 5.875%

0.98 5M
Corporate

1261229 Bc Ltd. 10%

0.93 4M
Corporate

McAfee Corp 7.375%

0.91 4M
Corporate

1011778 B.C. Unlimited Liability Company / New Red Finance, Inc. 4%

0.83 4M
Corporate

Usi Inc 7.5%

0.82 4M
Corporate

Rocket Software Inc 6.5%

0.79 4M
Corporate

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