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Morningstar

Federated Hermes Ultrashort Bond A FULAX

Morningstar Medalist Rating
Medalist Rating as of | See Federated Hermes Investment Hub
  • NAV / 1-Day Return 9.19  /  0.00
  • Total Assets 2.9 Bil
  • Adj. Expense Ratio
    0.520%
  • Expense Ratio 0.520%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category Ultrashort Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,500
  • Status Open
  • TTM Yield 3.64%
  • Effective Duration 0.70 years

USD | NAV as of Apr 22, 2024 | 1-Day Return as of Apr 22, 2024, 10:14 PM GMT+0

Morningstar’s Analysis FULAX

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

  • People Pillar

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

No changes to either People or Process pillar ratings.

Strategist Maciej Kowara

Maciej Kowara

Strategist

Summary

The retirement of lead manager Randy Bauer had no impact on the Federated Hermes Ultra Short Bond's strategy, which remains unchanged under comanagers Nick Tripodes and Dan Mastalski. Both rose through Federated Hermes’ ranks, were trained by Bauer, and have solid experience and credentials.

by Maciej Kowara
Rated on Published on

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Portfolio Holdings FULAX

More FULAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 14.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Federated Hermes Inst Prime Val Obl IS

5.36 142.5 Mil
Cash and Equivalents

SANTANDER RETAIL AUTO LEASE TRUST 2021-B 1.41%

2.06 54.9 Mil
Securitized

Santander Retail Auto Lease Trust 1.39%

1.90 50.6 Mil
Securitized

United States Treasury Notes 4.875%

1.52 40.4 Mil
Government

SANTANDER RETAIL AUTO LEASE TRUST 1.38%

1.48 39.4 Mil
Securitized

FONTAINEBLEAU MIAMI BEACH TRUST 3.447%

1.38 36.8 Mil
Securitized

NELNET STUDENT LOAN TRUST 6.1624%

1.37 36.3 Mil
Securitized

NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 0.94%

1.36 36.1 Mil
Securitized

UBS AG, London Branch 5.70465%

1.32 35.0 Mil
Cash and Equivalents

NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 1.11%

1.16 30.8 Mil
Securitized