Federated Hermes Corporate Bond Strategy Portfolio
Fund
FCSPX
Price as of:
$9.84
+ $0.05
+ 0.51%
Primary Theme
fund company
Name
As of 05/03/2024Price
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
Vitals
YTD Return
-0.8%
1 yr return
3.6%
3 Yr Avg Return
-2.1%
5 Yr Avg Return
2.2%
Net Assets
$156 M
Holdings in Top 10
10.2%
52 WEEK LOW AND HIGH
$9.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.26%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 11.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
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
FCSPX - Profile
Distributions
- YTD Total Return -0.8%
- 3 Yr Annualized Total Return -2.1%
- 5 Yr Annualized Total Return 2.2%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 3.19%
- Dividend Yield 4.3%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameFederated Hermes Corporate Bond Strategy Portfolio
-
Fund Family NameFederated Hermes Funds
-
Inception DateJul 01, 2009
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJerome Conner
Fund Description
The Fund invests primarily in a diversified portfolio of investment-grade, corporate fixed-income securities. While the Fund may invest in securities of any maturity, the Fund’s average duration is expected to vary and may range between one and ten years depending on Federated Investment Management Company’s (the “Adviser”) view of interest rates. The Fund may also invest in Treasury securities, government securities and derivative instruments (such as futures, options and swaps or hybrid instruments) to implement its investment strategies. There can be no assurance that the Fund’s use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund’s 80% policy (as described below) and are calculated at market value. The Fund may invest up to 15% of its net assets in illiquid securities. Some of the corporate fixed-income securities in which the Fund invests are considered to be “foreign securities” as that term is defined in this Prospectus.Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (“Ginnie Mae”). Finally, the Fund may invest in certain government securities that have no explicit financial support, but which are regarded as having implied support because the federal government sponsors their activities.The Adviser actively manages the Fund’s portfolio seeking total returns over longer time periods in excess of the Fund’s benchmark, the Baa (BBB) component of the Bloomberg US Credit Index (BUSCI). The BUSCI is an unmanaged index comprised of corporate bonds or securities represented by the following sectors: industrial, utility and finance, including both U.S. and non-U.S. corporations and non-corporate bonds or securities represented by the following sectors: sovereign, supranational, foreign agencies and foreign local governments. There can be no assurance that the Adviser will be successful in achieving investment returns in excess of the BUSCI. When buying and selling portfolio securities, the Adviser utilizes a four part decision-making process.First, the Adviser invests the Fund’s portfolio seeking the higher relative returns of corporate fixed-income securities, when available, while attempting to limit the associated credit risks. Second, the Adviser selects individual securities that it believes may outperform the Fund’s benchmark index. Third, the Adviser may seek to change the Fund’s interest rate volatility by lengthening or shortening the Fund’s portfolio duration from time to time based on its interest rate outlook. Fourth, the Adviser strategically positions the portfolio based on its expectations for changes in the yield curve.The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in corporate fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policies that would enable the fund to normally invest less than 80% of its net assets (plus any borrowings for investment purposes) in corporate fixed-income investments.
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FCSPX - Performance
Return Ranking - Trailing
| Period | FCSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.8% | -6.0% | 2.7% | 19.89% |
| 1 Yr | 3.6% | -3.3% | 9.0% | 23.86% |
| 3 Yr | -2.1%* | -10.0% | 39.3% | 20.23% |
| 5 Yr | 2.2%* | -4.4% | 26.0% | 7.55% |
| 10 Yr | 2.7%* | -0.6% | 13.9% | 10.00% |
* Annualized
Return Ranking - Calendar
| Period | FCSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.1% | -5.6% | 6.3% | 55.68% |
| 2022 | -18.3% | -28.7% | 142.1% | 40.57% |
| 2021 | -4.2% | -12.3% | 4.9% | 48.84% |
| 2020 | 7.8% | -8.0% | 10.6% | 15.48% |
| 2019 | 11.9% | 4.3% | 13.4% | 8.23% |
Total Return Ranking - Trailing
| Period | FCSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.8% | -6.0% | 2.7% | 19.89% |
| 1 Yr | 3.6% | -3.3% | 9.0% | 23.86% |
| 3 Yr | -2.1%* | -10.0% | 39.3% | 20.23% |
| 5 Yr | 2.2%* | -4.4% | 26.0% | 7.55% |
| 10 Yr | 2.7%* | -0.6% | 13.9% | 10.00% |
* Annualized
Total Return Ranking - Calendar
| Period | FCSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.5% | -5.6% | 12.9% | 53.41% |
| 2022 | -15.0% | -25.6% | 151.8% | 21.71% |
| 2021 | -0.1% | -5.1% | 7.5% | 31.40% |
| 2020 | 12.2% | -8.0% | 116.0% | 18.45% |
| 2019 | 17.0% | 6.7% | 17.4% | 1.27% |
NAV & Total Return History
FCSPX - Holdings
Concentration Analysis
| FCSPX | Category Low | Category High | FCSPX % Rank | |
|---|---|---|---|---|
| Net Assets | 156 M | 5.45 M | 47.3 B | 78.41% |
| Number of Holdings | 454 | 4 | 10179 | 57.95% |
| Net Assets in Top 10 | 15.9 M | -29.6 M | 3.67 B | 82.39% |
| Weighting of Top 10 | 10.18% | 1.5% | 143.5% | 84.09% |
Top 10 Holdings
- BANK OF MONTREAL 2 3.53%
- Verizon Communications Inc 0.91%
- Duke Energy Corp 0.84%
- Oracle Corp 0.76%
- Southern Co/The 0.72%
- AerCap Ireland Capital DAC / AerCap Global Aviation Trust 0.72%
- Nissan Motor Acceptance Co LLC 0.69%
- HCA Inc 0.68%
- Broadcom Inc 0.67%
- Dell International LLC / EMC Corp 0.66%
Asset Allocation
| Weighting | Return Low | Return High | FCSPX % Rank | |
|---|---|---|---|---|
| Bonds | 95.72% | 0.00% | 136.47% | 60.23% |
| Other | 3.59% | -1.14% | 13.53% | 9.09% |
| Stocks | 0.55% | 0.00% | 99.96% | 9.66% |
| Cash | 0.14% | -43.80% | 45.81% | 96.02% |
| Convertible Bonds | 0.13% | 0.00% | 78.47% | 94.89% |
| Preferred Stocks | 0.00% | 0.00% | 9.18% | 65.91% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FCSPX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | N/A |
| Technology | 0.00% | 0.00% | 24.68% | N/A |
| Real Estate | 0.00% | 0.00% | 100.00% | N/A |
| Industrials | 0.00% | 0.00% | 8.34% | N/A |
| Healthcare | 0.00% | 0.00% | 14.32% | N/A |
| Financial Services | 0.00% | 0.00% | 100.00% | N/A |
| Energy | 0.00% | 0.00% | 4.21% | N/A |
| Communication Services | 0.00% | 0.00% | 8.64% | N/A |
| Consumer Defense | 0.00% | 0.00% | 7.33% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 11.22% | N/A |
| Basic Materials | 0.00% | 0.00% | 3.60% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FCSPX % Rank | |
|---|---|---|---|---|
| US | 0.55% | 0.00% | 99.96% | 9.66% |
| Non US | 0.00% | 0.00% | 0.02% | 56.25% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FCSPX % Rank | |
|---|---|---|---|---|
| Corporate | 94.11% | 41.80% | 99.80% | 17.05% |
| Government | 4.22% | 0.00% | 25.63% | 60.80% |
| Derivative | 0.06% | -0.21% | 2.35% | 48.86% |
| Cash & Equivalents | 0.00% | 0.00% | 45.81% | 92.05% |
| Securitized | 0.00% | 0.00% | 23.18% | 93.75% |
| Municipal | 0.00% | 0.00% | 3.62% | 85.23% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FCSPX % Rank | |
|---|---|---|---|---|
| US | 95.72% | 0.00% | 109.04% | 57.95% |
| Non US | 0.00% | 0.00% | 47.05% | 69.32% |
FCSPX - Expenses
Operational Fees
| FCSPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.26% | 0.02% | 46.23% | 84.48% |
| Management Fee | 0.00% | 0.00% | 1.35% | 3.41% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 64.08% |
| Administrative Fee | 0.10% | 0.02% | 0.45% | 66.22% |
Sales Fees
| FCSPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| FCSPX 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.
| FCSPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 11.00% | 0.00% | 259.00% | 2.30% |
FCSPX - Distributions
Dividend Yield Analysis
| FCSPX | Category Low | Category High | FCSPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.33% | 0.00% | 6.07% | 52.27% |
Dividend Distribution Analysis
| FCSPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| FCSPX | Category Low | Category High | FCSPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.19% | 0.38% | 5.93% | 3.45% |
Capital Gain Distribution Analysis
| FCSPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Apr 30, 2024 | $0.035 | DailyAccrualFund |
| Mar 31, 2024 | $0.035 | DailyAccrualFund |
| Feb 29, 2024 | $0.034 | DailyAccrualFund |
| Jan 31, 2024 | $0.034 | DailyAccrualFund |
| Dec 31, 2023 | $0.034 | DailyAccrualFund |
| Nov 30, 2023 | $0.033 | DailyAccrualFund |
| Oct 31, 2023 | $0.033 | DailyAccrualFund |
| Sep 30, 2023 | $0.033 | DailyAccrualFund |
| Aug 31, 2023 | $0.033 | DailyAccrualFund |
| Jul 31, 2023 | $0.033 | DailyAccrualFund |
| Jun 30, 2023 | $0.033 | DailyAccrualFund |
| May 31, 2023 | $0.033 | DailyAccrualFund |
| Apr 30, 2023 | $0.033 | DailyAccrualFund |
| Mar 31, 2023 | $0.033 | DailyAccrualFund |
| Feb 28, 2023 | $0.037 | DailyAccrualFund |
| Jan 31, 2023 | $0.036 | DailyAccrualFund |
| Dec 31, 2022 | $0.033 | DailyAccrualFund |
| Nov 30, 2022 | $0.032 | DailyAccrualFund |
| Oct 31, 2022 | $0.032 | DailyAccrualFund |
| Sep 30, 2022 | $0.032 | DailyAccrualFund |
| Aug 31, 2022 | $0.031 | DailyAccrualFund |
| Jul 29, 2022 | $0.031 | DailyAccrualFund |
| Jun 30, 2022 | $0.031 | DailyAccrualFund |
| May 31, 2022 | $0.031 | DailyAccrualFund |
| Apr 29, 2022 | $0.031 | DailyAccrualFund |
| Mar 31, 2022 | $0.031 | DailyAccrualFund |
| Feb 28, 2022 | $0.031 | DailyAccrualFund |
| Jan 31, 2022 | $0.030 | DailyAccrualFund |
| Dec 31, 2021 | $0.030 | DailyAccrualFund |
| Nov 30, 2021 | $0.031 | DailyAccrualFund |
| Oct 31, 2021 | $0.031 | DailyAccrualFund |
| Sep 30, 2021 | $0.031 | DailyAccrualFund |
| Aug 31, 2021 | $0.032 | DailyAccrualFund |
| Jul 31, 2021 | $0.032 | DailyAccrualFund |
| Jun 30, 2021 | $0.032 | DailyAccrualFund |
| May 31, 2021 | $0.033 | DailyAccrualFund |
| Apr 30, 2021 | $0.033 | DailyAccrualFund |
| Mar 31, 2021 | $0.033 | DailyAccrualFund |
| Feb 28, 2021 | $0.033 | DailyAccrualFund |
| Jan 31, 2021 | $0.033 | DailyAccrualFund |
| Dec 31, 2020 | $0.034 | DailyAccrualFund |
| Nov 30, 2020 | $0.034 | DailyAccrualFund |
| Oct 30, 2020 | $0.034 | DailyAccrualFund |
| Sep 30, 2020 | $0.035 | DailyAccrualFund |
| Aug 31, 2020 | $0.036 | DailyAccrualFund |
| Jul 31, 2020 | $0.036 | DailyAccrualFund |
| Jun 30, 2020 | $0.036 | DailyAccrualFund |
| May 29, 2020 | $0.037 | DailyAccrualFund |
| Apr 30, 2020 | $0.037 | DailyAccrualFund |
| Mar 31, 2020 | $0.037 | DailyAccrualFund |
| Feb 28, 2020 | $0.037 | DailyAccrualFund |
| Jan 31, 2020 | $0.037 | DailyAccrualFund |
| Dec 31, 2019 | $0.037 | DailyAccrualFund |
| Nov 29, 2019 | $0.037 | DailyAccrualFund |
| Oct 31, 2019 | $0.037 | DailyAccrualFund |
| Sep 30, 2019 | $0.037 | DailyAccrualFund |
| Aug 30, 2019 | $0.038 | DailyAccrualFund |
| Jul 31, 2019 | $0.038 | DailyAccrualFund |
| Jul 01, 2019 | $0.038 | OrdinaryDividend |
| May 31, 2019 | $0.038 | DailyAccrualFund |
| Apr 30, 2019 | $0.038 | DailyAccrualFund |
| Mar 29, 2019 | $0.038 | DailyAccrualFund |
| Feb 28, 2019 | $0.038 | DailyAccrualFund |
| Jan 31, 2019 | $0.038 | DailyAccrualFund |
| Dec 31, 2018 | $0.038 | DailyAccrualFund |
| Nov 30, 2018 | $0.038 | DailyAccrualFund |
| Oct 31, 2018 | $0.038 | DailyAccrualFund |
| Aug 31, 2018 | $0.038 | DailyAccrualFund |
| Jul 31, 2018 | $0.038 | DailyAccrualFund |
| Jun 29, 2018 | $0.038 | DailyAccrualFund |
| May 31, 2018 | $0.038 | DailyAccrualFund |
| Apr 30, 2018 | $0.038 | DailyAccrualFund |
| Mar 29, 2018 | $0.038 | DailyAccrualFund |
| Feb 28, 2018 | $0.038 | DailyAccrualFund |
| Jan 31, 2018 | $0.038 | DailyAccrualFund |
| Dec 29, 2017 | $0.038 | DailyAccrualFund |
| Nov 30, 2017 | $0.038 | DailyAccrualFund |
| Oct 31, 2017 | $0.038 | DailyAccrualFund |
| Sep 29, 2017 | $0.038 | DailyAccrualFund |
| Aug 31, 2017 | $0.038 | DailyAccrualFund |
| Jul 31, 2017 | $0.038 | DailyAccrualFund |
| Jun 30, 2017 | $0.038 | DailyAccrualFund |
| May 31, 2017 | $0.038 | DailyAccrualFund |
| Apr 28, 2017 | $0.038 | DailyAccrualFund |
| Mar 31, 2017 | $0.038 | DailyAccrualFund |
| Feb 28, 2017 | $0.038 | DailyAccrualFund |
| Jan 31, 2017 | $0.038 | DailyAccrualFund |
| Dec 30, 2016 | $0.038 | DailyAccrualFund |
| Nov 30, 2016 | $0.038 | DailyAccrualFund |
| Oct 31, 2016 | $0.038 | DailyAccrualFund |
| Sep 30, 2016 | $0.038 | DailyAccrualFund |
| Aug 31, 2016 | $0.038 | DailyAccrualFund |
| Jul 29, 2016 | $0.039 | DailyAccrualFund |
| Jun 30, 2016 | $0.039 | DailyAccrualFund |
| May 31, 2016 | $0.039 | DailyAccrualFund |
| Apr 29, 2016 | $0.039 | DailyAccrualFund |
| Mar 31, 2016 | $0.039 | DailyAccrualFund |
| Feb 29, 2016 | $0.039 | DailyAccrualFund |
| Jan 29, 2016 | $0.039 | DailyAccrualFund |
| Dec 31, 2015 | $0.039 | DailyAccrualFund |
| Nov 30, 2015 | $0.039 | DailyAccrualFund |
| Oct 30, 2015 | $0.039 | DailyAccrualFund |
| Sep 30, 2015 | $0.040 | DailyAccrualFund |
| Aug 31, 2015 | $0.039 | DailyAccrualFund |
| Jul 31, 2015 | $0.040 | DailyAccrualFund |
| Jun 30, 2015 | $0.040 | DailyAccrualFund |
| May 29, 2015 | $0.039 | DailyAccrualFund |
| Apr 30, 2015 | $0.039 | DailyAccrualFund |
| Mar 31, 2015 | $0.039 | DailyAccrualFund |
| Feb 27, 2015 | $0.040 | DailyAccrualFund |
| Jan 30, 2015 | $0.040 | DailyAccrualFund |
| Dec 31, 2014 | $0.041 | DailyAccrualFund |
| Oct 31, 2008 | $0.049 | DailyAccrualFund |
| Sep 30, 2008 | $0.049 | DailyAccrualFund |
| Jan 31, 2008 | $0.049 | DailyAccrualFund |
| Dec 31, 2007 | $0.051 | DailyAccrualFund |
| Nov 30, 2007 | $0.052 | DailyAccrualFund |
| Oct 31, 2007 | $0.052 | DailyAccrualFund |
| Sep 28, 2007 | $0.052 | DailyAccrualFund |
| Aug 31, 2007 | $0.052 | DailyAccrualFund |
| Jul 31, 2007 | $0.052 | DailyAccrualFund |
| Jun 29, 2007 | $0.052 | DailyAccrualFund |
| May 31, 2007 | $0.052 | DailyAccrualFund |
| Apr 30, 2007 | $0.052 | DailyAccrualFund |
| Mar 30, 2007 | $0.052 | DailyAccrualFund |
| Feb 28, 2007 | $0.052 | DailyAccrualFund |
| Jan 31, 2007 | $0.053 | DailyAccrualFund |
| Dec 29, 2006 | $0.052 | DailyAccrualFund |
| Nov 30, 2006 | $0.053 | DailyAccrualFund |
| Oct 31, 2006 | $0.052 | DailyAccrualFund |
| Sep 29, 2006 | $0.052 | DailyAccrualFund |
| Aug 31, 2006 | $0.053 | DailyAccrualFund |
| Jul 31, 2006 | $0.052 | DailyAccrualFund |
| Dec 21, 2005 | $0.005 | OrdinaryDividend |
FCSPX - Fund Manager Analysis
Managers
Jerome Conner
Start Date
Tenure
Tenure Rank
Feb 28, 2010
12.26
12.3%
Jerome D. Conner, CFA, is a portfolio manager at Federated Investment Management Company focusing on asset allocation, interest rate strategy and security selection. He has been with Federated Investment Management Company since 2002; has worked in investment management since 1995; has managed investment portfolios since 2010. Education: B.S., U.S. Naval Academy; M.S., Boston University.
Brian Ruffner
Start Date
Tenure
Tenure Rank
Feb 28, 2018
4.25
4.3%
Brian S. Ruffner, has been the Fund’s portfolio manager since April of 2017. Mr. Ruffner is responsible for for providing research and advice on sector allocation and security selection. Mr. Ruffner joined Federated in 1994 in the Fund Accounting department and from 1997 to 2001 was a Trader on the Cash Management Desk. In 2001 Mr. Ruffner became an Investment Analyst and in 2004 was appointed Asst. Vice President of a Federated advisory subsidiary. He became a Senior Investment Analyst and was appointed Vice President in 2007. From 1993 through 1994 Mr. Ruffner was employed by Mellon Bank NA as Global Trade Administrator. Mr. Ruffner earned his B.S. at the Indiana University of Pennsylvania and received his M.B.A. from Duquesne University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.33 | 24.76 | 6.74 | 2.47 |