Morningstar

Federated Hermes Institutional High Yield Bond Fund Class C Shares

Morningstar Medalist Rating
Medalist Rating as of | See Federated Hermes Investment Hub
  • NAV / 1-Day Return 8.87  /  +0.34 %
  • Total Assets 4.7B
  • Adj. Expense Ratio
    1.540%
  • Expense Ratio 1.530%
  • Distribution Fee Level Low
  • Share Class Type Level Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low/Limited
  • Min. Initial Investment 1,500
  • Status Open
  • TTM Yield 5.43%
  • Effective Duration 3.10 years

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

Morningstar’s Analysis FIHCX

Will FIHCX 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 FIHCX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FIHCX 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 FIHCX’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 FIHCX

More FIHCX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 9.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Federated Govt Oblg Pr Shares

1.31 62M
—

Ardonagh Group Finance Ltd. 8.875%

1.23 58M
Corporate

HUB International Ltd. 7.375%

1.07 51M
Corporate

McAfee Corp 7.375%

0.93 44M
Corporate

Medline Borrower LP 5.25%

0.92 44M
Corporate

Madison IAQ LLC 5.875%

0.85 40M
Corporate

Usi Inc 7.5%

0.84 40M
Corporate

UKG Inc. 6.875%

0.79 38M
Corporate

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

0.79 37M
Corporate

Truist Insurance Holdings LLC & Panther Co-Issuer Inc. 7.125%

0.77 37M
Corporate

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