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FMUSX Federated Municipal Ultrashort Instl

  • Fund
  • FMUSX
  • Price as of: Dec 09, 2016
  • $9.98
  • - $0.00
  • - 0.00%
  • Category
  • National Munis

FMUSX - Profile

Vitals

  • YTD Return -0.1%
  • 3 Yr Annualized Return 0.5%
  • 5 Yr Annualized Return 0.6%
  • Net Assets $2.4 B
  • Holdings in Top 10 16.7%

52 WEEK LOW AND HIGH

$9.98
$9.97
$10.00

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.51%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 29.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Investment Themes

CATEGORY

National Munis
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Short

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return 0.5%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.75%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Federated Municipal Ultra Short Fund
  • Fund Family Name Federated
  • Inception Date Oct 24, 2000
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Jeff A. Kozemchak

Fund Description

The fund invests at least 65% of its assets in securities rated investment grade and may purchase securities rated below investment-grade up to 35% of its assets. Its adviser seeks to maintain a low degree of Share price fluctuation by generally limiting the fund's dollar-weighted average portfolio duration to one year or less. It will normally invest so that at least 80% of its net assets are in tax-exempt securities or at least 80% of its annual interest income is exempt from federal regular income tax.

FMUSX - Performance

Return Ranking - Trailing

Period FMUSX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.1% -5.6% 99.4% 3.25% 1
1 Yr 0.7% -5.8% 10.7% 11.83% 1
3 Yr 0.5% * -4.5% 7.0% 83.88% 5
5 Yr 0.6% * -0.7% 6.1% 90.13% 5
10 Yr 1.5% * -0.6% 4.9% 92.09% 5

* Annualized


Return Ranking - Calendar

Period FMUSX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.5% -10.9% 2.6% 39.19% 4
2014 0.1% -2.2% 12.0% 61.78% 5
2013 -0.2% -11.9% 0.1% 1.71% 1
2012 0.1% -7.1% 10.2% 63.36% 5
2011 0.3% -1.8% 15.2% 65.74% 5

Total Return Ranking - Trailing

Period FMUSX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.1% -4.7% 99.4% 7.97% 1
1 Yr 0.7% -8.9% 8.9% 8.10% 1
3 Yr 0.5% * -5.4% 7.0% 79.55% 5
5 Yr 0.6% * -1.2% 6.1% 86.59% 5
10 Yr 1.5% * -0.6% 4.9% 92.09% 5

* Annualized


Total Return Ranking - Calendar

Period FMUSX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.5% -9.7% 5.1% 52.20% 4
2014 0.1% -0.9% 17.0% 66.32% 5
2013 -0.2% -11.9% 2.1% 3.99% 1
2012 0.1% -0.6% 17.8% 68.42% 5
2011 0.3% -1.1% 16.2% 69.81% 5

NAV & Total Return History

FMUSX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

FMUSX Category Low Category High FMUSX % Rank Quintile
Net Assets 2.4 B 491 K 50.6 B 8.37% 2
Number of Holdings 278 1 6199 18.55% 3
Net Assets in Top 10 386 M -176 M 1.27 B 4.52% 1
Weighting of Top 10 16.7% 0.0% 100.0% 13.55% 2

Top 10 Holdings

  1. Whiting Ind Environmental Facs Rev Bds 2.99%
  2. California Statewide Cmntys De Rev 1.58% 2.60%
  3. St James Parish La Rev Var Rate 0.78% 1.74%
  4. Lancaster Port Auth 1.72%
  5. Health Care Auth 0.85% 1.40%
  6. Pennsylvania St Higher Edl Fac Var Rt Re 1.38%
  7. North Tex Twy Auth 1.37%
  8. Long Island Pwr Auth 0.76% 1.30%
  9. Deutsche Bk Spears/Lifers Tr V Ctfs 1.13%
  10. Phoenix Ariz Indl Dev Auth 0.75% 1.08%

Asset Allocation

Weighting Category Low Category High FMUSX % Rank Quintile
Bonds
91.73% 0.00% 202.21% 24.48% 5
Cash
7.95% -110.85% 100.00% 7.58% 1
Preferred Stocks
0.32% 0.00% 11.68% 0.65% 1
Other
0.00% -2.77% 27.54% 6.13% 4
Convertible Bonds
0.00% 0.00% 2.79% 0.81% 4
Stocks
0.00% 0.00% 1.43% 1.13% 4

Bond Sector Breakdown

Weighting Category Low Category High FMUSX % Rank Quintile
Municipal
92.05% 0.00% 140.30% 23.23% 4
Cash & Equivalents
7.95% -110.85% 100.00% 7.58% 1
Securitized
0.00% 0.00% 41.81% 2.90% 4
Corporate
0.00% 0.00% 34.61% 4.19% 4
Derivative
0.00% -0.43% 5.58% 0.48% 4
Government
0.00% -43.18% 117.34% 7.90% 4

Bond Geographic Breakdown

Weighting Category Low Category High FMUSX % Rank Quintile
US
91.73% 0.00% 202.21% 24.35% 5
Non US
0.00% 0.00% 20.62% 0.81% 4

FMUSX - Expenses

Operational Fees

FMUSX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.51% 0.10% 4.60% 22.06% 1
Management Fee 0.35% 0.00% 1.00% 3.86% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.15% 0.00% 0.35% 3.42% 4

Sales Fees

FMUSX Fees (% of AUM) Category Low Category High FMUSX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

FMUSX Fees (% of AUM) Category Low Category High FMUSX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FMUSX Fees (% of AUM) Category Low Category High FMUSX Rank Quintile
Turnover 29.00% 0.00% 783.51% 8.86% 4

FMUSX - Distributions

Dividend Yield Analysis

FMUSX Category Low Category High FMUSX % Rank Quintile
Dividend Yield 0.1% 0.00% 2.86% 49.10% 5

Dividend Distribution Analysis

FMUSX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

FMUSX Category Low Category High FMUSX % Rank Quintile
Net Income Ratio 0.75% -0.60% 5.26% 43.96% 5

Capital Gain Distribution Analysis

FMUSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

FMUSX - Managers

Jeff A. Kozemchak

Manager

Start Date

Oct 24, 2000

Tenure

16.11

Tenure Rank

3.2%

Mr. Kozemchak joined Federated in 1987 and has been a Senior Portfolio Manager since 1996 and a Senior Vice President of the Fund's Adviser since 1999. He was a Portfolio Manager until 1996 and a Vice President of the Fund's Adviser from 1993 to 1998. Mr. Kozemchak has received the Chartered Financial Analyst designation and his M.S. in Industrial Administration from Carnegie Mellon University in 1987.


Tenure Analysis

Category Low

0.0

Category High

37.2

Category Average

7.34

Category Mode

1.9