FEUNX: Federated Adjustable Rate Securities Fund

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FEUNX Federated Adjustable Rate Securities Fund


Profile

FEUNX - Profile

Vitals

  • YTD Return -0.1%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $154 M
  • Holdings in Top 10 25.8%

52 WEEK LOW AND HIGH

$9.65
$9.47
$9.70

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.68%

SALES FEES

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

BROKERAGE FEES

  • Turnover 35.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.10%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes Adjustable Rate Fund
  • Fund Family Name
    Federated
  • Inception Date
    Aug 05, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Todd Abraham

Fund Description

The fund invests at least 65% of the value of its total assets in a professionally managed portfolio of U.S. government securities consisting primarily of adjustable and floating rate mortgage securities which are issued or guaranteed by the U.S. government, its agencies or instrumentalities. It may also invest up to 20% of its assets in fixed-rate, mortgage-backed securities and other fixed-rate securities.


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Categories

Performance

FEUNX - Performance

Return Ranking - Trailing

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -0.4% 6.7% 92.55%
1 Yr N/A -1.5% 5.7% 24.74%
3 Yr N/A* -41.4% 2.8% 10.64%
5 Yr N/A* -27.4% 58.5% 16.13%
10 Yr N/A* -14.8% 25.9% 22.50%

* Annualized

Return Ranking - Calendar

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -1.4% 3.3% N/A
2018 N/A -80.0% 0.1% N/A
2017 N/A -4.6% 0.0% N/A
2016 N/A -4.7% 900.0% N/A
2015 N/A -3.6% 0.3% N/A

Total Return Ranking - Trailing

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -0.4% 6.7% 92.55%
1 Yr N/A -1.5% 5.7% 22.68%
3 Yr N/A* -41.4% 3.0% 11.70%
5 Yr N/A* -27.4% 58.5% 17.20%
10 Yr N/A* -14.8% 25.9% 25.00%

* Annualized

Total Return Ranking - Calendar

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -1.4% 3.3% N/A
2018 N/A -80.0% 2.2% N/A
2017 N/A -4.6% 1.2% N/A
2016 N/A -4.1% 900.0% N/A
2015 N/A -3.6% 3.9% N/A

NAV & Total Return History


Holdings

FEUNX - Holdings

Concentration Analysis

FEUNX Category Low Category High FEUNX % Rank
Net Assets 154 M 1.38 M 13 B 73.96%
Number of Holdings 145 1 1639 59.38%
Net Assets in Top 10 34.9 M 1.39 M 4.28 B 84.38%
Weighting of Top 10 25.76% 14.4% 100.0% 84.34%

Top 10 Holdings

  1. Federal National Mortgage Association 0.63% 3.10%
  2. Federal National Mortgage Association 2% 3.05%
  3. Federal National Mortgage Association 0.68% 3.02%
  4. Federal National Mortgage Association 4% 2.50%
  5. Nextgear Floorplan Master Owner Trust 0.83% 2.47%
  6. Federal National Mortgage Association 0.58% 2.42%
  7. American Express Credit Account Master Trust 0.56% 2.40%
  8. Federal National Mortgage Association 4.19% 2.36%
  9. American Express Credit Account Master Trust 0.52% 2.22%
  10. Federal National Mortgage Association 0.63% 2.21%

Asset Allocation

Weighting Return Low Return High FEUNX % Rank
Bonds
93.73% 55.61% 139.65% 54.17%
Cash
6.27% -39.65% 44.39% 44.79%
Stocks
0.00% 0.00% 0.00% 43.75%
Preferred Stocks
0.00% 0.00% 0.00% 43.75%
Other
0.00% 0.00% 7.87% 43.75%
Convertible Bonds
0.00% 0.00% 0.00% 43.75%

Bond Sector Breakdown

Weighting Return Low Return High FEUNX % Rank
Securitized
93.73% 0.00% 94.36% 6.25%
Cash & Equivalents
6.27% 0.15% 44.39% 45.83%
Derivative
0.00% 0.00% 0.12% 44.79%
Corporate
0.00% 0.00% 44.45% 54.17%
Municipal
0.00% 0.00% 6.53% 51.04%
Government
0.00% 0.00% 99.85% 89.58%

Bond Geographic Breakdown

Weighting Return Low Return High FEUNX % Rank
US
93.73% 55.61% 139.40% 54.17%
Non US
0.00% 0.00% 16.02% 51.04%

Expenses

FEUNX - Expenses

Operational Fees

FEUNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.03% 2.31% 58.33%
Management Fee 0.30% 0.03% 0.80% 18.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.05% 0.45% 27.27%

Sales Fees

FEUNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 0.50% 1.00% N/A

Trading Fees

FEUNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 0.25% 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.

FEUNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 35.00% 0.00% 499.00% 37.36%

Distributions

FEUNX - Distributions

Dividend Yield Analysis

FEUNX Category Low Category High FEUNX % Rank
Dividend Yield 0.00% 0.00% 1.94% 51.04%

Dividend Distribution Analysis

FEUNX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

FEUNX Category Low Category High FEUNX % Rank
Net Income Ratio 3.10% 0.47% 4.06% 4.21%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

FEUNX - Fund Manager Analysis

Managers

Todd Abraham


Start Date

Tenure

Tenure Rank

Aug 01, 1995

25.1

25.1%

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

Oct 31, 2017

2.84

2.8%

Liam O'Connell joined Federated in September 2003 as an Investment Analyst of Federated from 2003 to 2005. He was named an Assistant Vice President of Federated in January 2005 and Vice President in January 2013. He has been the portfolio manager of Federated since April of 2017. From 2001 to 2003, Mr. O'Connell attended MIT's Sloan School of Management, receiving his M.B.A. Mr. O'Connell served as an engineer with the Naval Surface Warfare Center from 1998 to 2001. Mr. O'Connell also holds a B.S. in Naval Architecture and Marine Engineering from the Webb Institute of Naval Architecture, and an M.S. from the Johns Hopkins University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 34.69 10.69 5.58