Morningstar

Federated Hermes Municipal Ultrashort Fund Institutional Shares FMUSX

Morningstar Medalist Rating
Medalist Rating as of | See Federated Hermes Investment Hub
  • NAV / 1-Day Return 10.03  /  0.00
  • Total Assets 1.5B
  • 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 1M
  • Status Open
  • TTM Yield 2.89%
  • Effective Duration 0.72 years

USD | NAV as of Jun 13, 2026 | 1-Day Return as of Jun 13, 2026, 12:15 AM GMT+0

Morningstar’s Analysis FMUSX

Will FMUSX 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 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.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Federated Hermes Municipal Ultrashort IS holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

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Portfolio Holdings FMUSX

More FMUSX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 19.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

TENDER OPT BD TR RCPTS / CTFS VAR STS 2.72%

3.81 55M
municipal

BARTOW CNTY GA DEV AUTH SOLID WASTE DISP FAC REV 2.73%

2.40 35M
municipal

NUVEEN AMT-FREE MUN CR INCOME FD 2.87%

1.81 26M
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 2.77%

1.76 25M
municipal

NUVEEN INSD TAX-FREE ADVANTAGE MUN FD 2.87%

1.74 25M
municipal

MOBILE ALA INDL DEV BRD POLLUTN CTL REV 3.92%

1.73 25M
municipal

NUVEEN CALIF AMT FREE MUNICIPAL INCOME FD 2.87%

1.61 23M
municipal

NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 2.7%

1.47 21M
municipal

TENDER OPT BD TR RCPTS / CTFS VAR STS 2.82%

1.46 21M
municipal

ECTOR CNTY TEX INDPT SCH DIST 4%

1.41 20M
municipal

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