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Morningstar

Federated Hermes Municipal HY Adv C FMNCX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 8.08  /  0.00
  • Total Assets 483.7 Mil
  • Adj. Expense Ratio
    1.640%
  • Expense Ratio 1.640%
  • Distribution Fee Level High
  • Share Class Type Level Load
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,500
  • Status Open
  • TTM Yield 2.86%
  • Effective Duration 9.60 years

USD | NAV as of Jan 31, 2023 | 1-Day Return as of Jan 31, 2023, 11:12 PM GMT+00:00

Morningstar’s Analysis FMNCX

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

People Pillar

The People Pillar is our evaluation of the FMNCX 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 FMNCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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Federated Hermes Municipal HY Adv C's Average Process and People Pillar ratings aren't enough to prevent other weaknesses from sending this strategy to a Morningstar Quantitative Rating of Negative. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the most expensive quintile among peers.

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