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Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Federated Hermes Mortgage Strategy Portfolio

FMBPX | Fund

$8.08

$905 M

4.70%

$0.38

0.17%

Vitals

YTD Return

-3.8%

1 yr return

-1.8%

3 Yr Avg Return

-3.8%

5 Yr Avg Return

-0.8%

Net Assets

$905 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.17%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Federated Hermes Mortgage Strategy Portfolio

FMBPX | Fund

$8.08

$905 M

4.70%

$0.38

0.17%

FMBPX - Profile

Distributions

  • YTD Total Return -3.8%
  • 3 Yr Annualized Total Return -3.8%
  • 5 Yr Annualized Total Return -0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.21%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Federated Hermes Mortgage Strategy Portfolio
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Jul 01, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Todd Abraham

Fund Description

The Fund pursues its investment objective by investing primarily in Mortgage Core Fund (the “Underlying Fund”), a portfolio of Federated Hermes Core Trust. The investment objective of the Underlying Fund is to provide total return. Under normal market conditions, the Underlying Fund invests primarily in mortgage-backed securities (MBS) of investment-grade quality and seeks to provide returns consistent with investments in the market for U.S. home mortgages. The Underlying Fund will invest in MBS that are issued or guaranteed by U.S. government agencies or U.S. government-sponsored enterprises (GSEs). The Underlying Fund may invest in non-agency MBS, which are those not issued or guaranteed by GSEs. The Underlying Fund also may invest in U.S. government securities, asset-backed securities and certain derivative instruments.When selecting investments for the Fund, the Fund can invest in securities directly or in other investment companies, including, for example, the Underlying Fund and other funds advised by Federated Investment Management Company (the “Adviser” or the “Underlying Fund Adviser”) or its affiliates. At times, the Fund’s investment in the Underlying Fund may be a substantial portion of the Fund’s portfolio.The Underlying Fund typically seeks to maintain an overall average dollar-weighted portfolio duration that is within one year above or below the Bloomberg US Mortgage-Backed Securities Index (the “Index”). The average dollar-weighted duration of the Index is approximately 5.87 years as of December 29, 2023. At times, the Underlying Fund Adviser’s calculation of portfolio duration may result in variances outside this range. Duration is a measure of the price volatility of a fixed-income security as a result of changes in market rates of interest, based on the weighted average timing of the instrument’s expected fixed interest and principal payments. The Underlying Fund Adviser seeks to create a portfolio, consisting of MBS, derivative instruments and other securities, that outperforms the Index.Based on fundamental analysis, the Underlying Fund Adviser will consider a variety of factors when making decisions to purchase or sell particular securities or derivative instruments. The Underlying Fund may, but is not required to, use derivative instruments, which are instruments that have a value based on another instrument, exchange rate or index, and may be used as substitutes for securities in which the Underlying Fund can invest, or to hedge against a potential loss in the underlying asset. There can be no assurance that the Underlying Fund’s use of derivative instruments will work as intended. Derivative investments made by the Underlying Fund are included within the Underlying Fund’s 80% policy and are calculated at market value.The Adviser employs the same management, security selection and derivative strategies when the Fund invests directly in the securities, instruments and investments in which the Underlying Fund invests.The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in mortgage investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in mortgage investments.
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FMBPX - Performance

Return Ranking - Trailing

Period FMBPX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.8% -12.8% 2.8% 92.24%
1 Yr -1.8% -11.6% 10.7% 85.13%
3 Yr -3.8%* -11.0% 24.6% 59.52%
5 Yr -0.8%* -7.2% 190.5% 86.69%
10 Yr 0.7%* -2.7% 73.3% 82.42%

* Annualized

Return Ranking - Calendar

Period FMBPX Return Category Return Low Category Return High Rank in Category (%)
2023 0.4% -16.2% 8.1% 93.31%
2022 -13.7% -34.7% 131.9% 8.37%
2021 -3.2% -11.6% 4.4% 43.88%
2020 2.0% -10.1% 946.1% 86.67%
2019 2.9% -1.7% 16.9% 93.57%

Total Return Ranking - Trailing

Period FMBPX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.8% -12.8% 2.8% 92.24%
1 Yr -1.8% -11.6% 10.7% 85.13%
3 Yr -3.8%* -11.0% 24.6% 59.52%
5 Yr -0.8%* -7.2% 190.5% 86.69%
10 Yr 0.7%* -2.7% 73.3% 82.42%

* Annualized

Total Return Ranking - Calendar

Period FMBPX Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% -11.3% 11.0% 89.41%
2022 -11.3% -32.2% 131.9% 7.45%
2021 -0.7% -9.4% 9.2% 38.98%
2020 5.0% -1.9% 1009.0% 92.73%
2019 6.3% 1.1% 21668.0% 92.19%

NAV & Total Return History

FMBPX - Holdings

Concentration Analysis

FMBPX Category Low Category High FMBPX % Rank
Net Assets 905 M 2.9 M 314 B 56.00%
Number of Holdings 2 1 17889 99.31%
Net Assets in Top 10 905 M -106 M 36.5 B 29.88%
Weighting of Top 10 100.02% 4.4% 134.1% 1.49%

Top 10 Holdings

  1. FEDERATED CORE TR MTG CORE PORTFOLIO 98.44%
  2. BANK OF MONTREAL 2 1.58%

Asset Allocation

Weighting Return Low Return High FMBPX % Rank
Stocks 		98.44% 0.00% 99.93% 0.98%
Other 		1.58% -13.23% 50.66% 67.26%
Preferred Stocks 		0.00% 0.00% 74.68% 34.91%
Convertible Bonds 		0.00% 0.00% 7.93% 87.19%
Cash 		0.00% -54.51% 79.52% 91.81%
Bonds 		0.00% 0.00% 215.98% 98.52%

Stock Sector Breakdown

Weighting Return Low Return High FMBPX % Rank
Utilities 		0.00% 0.00% 100.00% N/A
Technology 		0.00% 0.00% 43.45% N/A
Real Estate 		0.00% 0.00% 99.26% N/A
Industrials 		0.00% 0.00% 48.31% N/A
Healthcare 		0.00% 0.00% 17.70% N/A
Financial Services 		0.00% 0.00% 100.00% N/A
Energy 		0.00% 0.00% 100.00% N/A
Communication Services 		0.00% 0.00% 100.00% N/A
Consumer Defense 		0.00% 0.00% 99.67% N/A
Consumer Cyclical 		0.00% 0.00% 100.00% N/A
Basic Materials 		0.00% 0.00% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High FMBPX % Rank
US 		98.44% 0.00% 99.93% 0.99%
Non US 		0.00% 0.00% 86.52% 14.50%

FMBPX - Expenses

Operational Fees

FMBPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.17% 0.01% 39.10% 94.93%
Management Fee 0.00% 0.00% 1.76% 0.20%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.01% 0.50% 52.24%

Sales Fees

FMBPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FMBPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

FMBPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 2.00% 493.39% 1.04%

FMBPX - Distributions

Dividend Yield Analysis

FMBPX Category Low Category High FMBPX % Rank
Dividend Yield 4.70% 0.00% 10.22% 16.24%

Dividend Distribution Analysis

FMBPX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

FMBPX Category Low Category High FMBPX % Rank
Net Income Ratio 2.21% -1.28% 4.79% 20.12%

Capital Gain Distribution Analysis

FMBPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

FMBPX - Fund Manager Analysis

Managers

Todd Abraham

Start Date

Tenure

Tenure Rank

Dec 20, 2007

14.45

14.5%

Todd A. Abraham is a Senior Portfolio Manager and Head of the Government/Mortgage-Backed Fixed Income Group. Mr. Abraham has been a Senior Portfolio Manager from 2007, Portfolio Manager from 1995 to 2006, a Senior Vice President since 2007 and a Vice President of Federated from 1997 to 2006. Mr. Abraham joined Federated in 1993 as an Investment Analyst and served as Assistant Vice President from 1995 to 1997. Mr. Abraham served as a Portfolio Analyst at Ryland Mortgage Co. from 1992 to 1993. Mr. Abraham has received the Chartered Financial Analyst designation and an M.B.A. in Finance from Loyola College.

Liam O'Connell

Start Date

Tenure

Tenure Rank

Feb 28, 2018

4.25

4.3%

Liam O’Connell, CFA, has been the Fund’s portfolio manager since April of 2017. Mr. O’Connell is responsible for providing research and advice on sector allocation and security selection. He has been with the Adviser or an affiliate since 2003; has worked in investment management since 2003; has managed investment portfolios since 2005. Education: B.S., Webb Institute of Naval Architecture; M.S, Johns Hopkins University; M.B.A., Massachusetts Institute of Technology.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.81 1.16

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