Morningstar

Federated Hermes Institutional High Yield Bond Fund Institutional Shares FIHBX

Medalist Rating as of Apr 27, 2026 See Federated Hermes Investment Hub

Strategy

The investment seeks high current income. The fund invests 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 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.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FIHBX	Federated Hermes Institutional High Yield Bond Fund Institutional Shares	Institutional	Open			Nov 1, 2002	$3.04B	0.500%	Low	$1M	−$1.71B
—	Federated Hermes Institutional High Yield Bond Fund Class A Shares	Front Load	Open			Feb 10, 2023	$11.59M	0.750%	Low	$1,500	−$3.90M
—	Federated Hermes Institutional High Yield Bond Fund Class C Shares	Level Load	Open			Feb 10, 2023	$4.95M	1.540%	Low	$1,500	−$214,134.54
FIHLX	Federated Hermes Institutional High Yield Bond Fund Class R6	Retirement, Large	Open			Jun 29, 2016	$1.62B	0.490%	Low	—	−$43.34M

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