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Morningstar

Federated Hermes Municipal Ultrashort IS FMUSX

Morningstar Medalist Rating
Medalist Rating as of | See Federated Hermes Investment Hub
  • NAV / 1-Day Return 9.89  /  0.00
  • Total Assets 1.1 Bil
  • Adj. Expense Ratio
    0.360%
  • Expense Ratio 0.360%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 1,000,000
  • Status Open
  • TTM Yield 2.58%
  • Effective Duration 0.61 years

USD | NAV as of Sep 26, 2023 | 1-Day Return as of Sep 26, 2023, 10:24 PM GMT+0

Morningstar’s Analysis FMUSX

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

People Pillar

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

Federated Hermes Municipal Ultrashort IS boasts strong People and Process Pillar ratings, but other weaknesses hold this strategy's Morningstar Medalist Rating at Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The portfolio maintains a cost advantage over competitors, priced within the second-cheapest fee quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings FMUSX

More FMUSX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 192
  • Other Holdings 8
  • % Assets in Top 10 Holdings 23.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 5.08%

2.94
38,500,000
municipal

PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 5%

2.93
38,400,000
municipal

NUVEEN INSD TAX-FREE ADVANTAGE MUN FD 4.46%

2.44
31,975,000
municipal

WISCONSIN ST HEALTH & EDL FACS AUTH REV 5.3%

2.34
30,625,000
municipal

SOUTHEAST ALA GAS SUPPLY DIST GAS SUPPLY REV 4.314%

2.29
30,000,555
municipal

CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV 3.875%

2.29
29,998,437
Cash and Equivalents

J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS 4.35%

2.27
29,700,000
Cash and Equivalents

WISCONSIN ST HEALTH & EDL FACS AUTH REV 5.3%

2.21
29,000,000
municipal

CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV 4.25%

2.10
27,499,082
municipal

MOBILE ALA INDL DEV BRD POLLUTN CTL REV 3.8663%

1.91
25,000,000
municipal