Morningstar

Federated Hermes Institutional High Yield Bond Fund Class A Shares

Morningstar Medalist Rating
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  • NAV / 1-Day Return $8.68  /  +0.12 %
  • Fund Size $4.7B
  • Adjusted Expense Ratio 0.750%
  • Net Expense Ratio 0.740%
  • Fee Level: Distribution Low
  • Share Class Type Front Load
  • Morningstar Category High Yield Bond
  • Fixed-Income Style Box (Funds) Low/Limited
  • Minimum Initial Investment $1,500
  • Investment Status Open
  • TTM Yield 6.38%
  • Average Effective Duration 3.00 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis

Will Federated Hermes Institutional High Yield Bond Fund Class A Shares 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 Federated Hermes Institutional High Yield Bond Fund Class A Shares’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the Federated Hermes Institutional High Yield Bond Fund Class A Shares 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 Federated Hermes Institutional High Yield Bond Fund Class A Shares’s parent organization’s priorities and whether they’re in line with investors’ interests.

A disciplined high-yield playbook that still earns confidence.

Principal Maciej Kowara

Maciej Kowara

Principal

Summary

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

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  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 10.6
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Federated Govt Oblg Pr Shares

2.47 116M
—

Ardonagh Group Finance Ltd. 8.875%

1.23 58M
Corporate

HUB International Ltd. 7.375%

1.08 51M
Corporate

McAfee Corp 7.375%

0.94 44M
Corporate

Medline Borrower LP 5.25%

0.89 42M
Corporate

Usi Inc 7.5%

0.84 40M
Corporate

Madison IAQ LLC 5.875%

0.81 38M
Corporate

Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp. 6.75%

0.80 38M
Corporate

Beach Acquisition Bidco LLC 10%

0.79 37M
Corporate

UKG Inc. 6.875%

0.76 35M
Corporate

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