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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.28

$192 M

4.12%

$0.38

0.31%

Vitals

YTD Return

0.0%

1 yr return

-3.2%

3 Yr Avg Return

-1.3%

5 Yr Avg Return

N/A

Net Assets

$192 M

Holdings in Top 10

27.7%

52 WEEK LOW AND HIGH

$9.3
$9.28
$9.59

Expenses

OPERATING FEES

Expense Ratio 0.31%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 82.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.28

$192 M

4.12%

$0.38

0.31%

FEUNX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.47%
DIVIDENDS
  • Dividend Yield 4.1%
  • 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 is intended to provide investment income from securities paying interest at rates that increase or decrease in response to changes in market interest rates. The Fund’s overall strategy is, therefore, to invest in a portfolio of adjustable-rate securities, including adjustable-rate, mortgage-backed securities (ARMs) and floating-rate, collateralized mortgage obligations (CMOs) issued or guaranteed by U.S. government agencies and government sponsored enterprises (GSEs). As a fundamental investment policy, 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.The Fund may also invest in ARMs and floating-rate CMOs that are not issued or guaranteed by a GSE but that are rated by a nationally recognized statistical rating organization (NRSRO) in one of its two highest rating categories. Under normal circumstances, the Fund may also invest up to 20% of its assets in fixed-rate, mortgage-backed securities and other fixed-rate securities. The Fund’s investment strategy will depend primarily on the types of ARMs and CMOs available in the market and may include mortgage-backed securities involving residential and commercial properties.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 Fund invests in overnight repurchase agreements in order to maintain sufficient cash to pay for daily net redemptions and portfolio transactions.The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in adjustable rate securities. 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 adjustable rate securities. For purposes of this limitation, an adjustable rate security includes any fixed-income security that requires periodic changes in its interest rate based upon changes in a recognized index interest rate or another method of determining prevailing interest rates.
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FEUNX - Performance

Return Ranking - Trailing

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% 0.0% 25.4% 98.81%
1 Yr -3.2% -8.9% -0.6% 11.90%
3 Yr -1.3%* -6.1% 0.5% 19.75%
5 Yr N/A* -27.5% 1.6% 20.00%
10 Yr N/A* -14.9% 1.2% 59.04%

* Annualized

Return Ranking - Calendar

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
2022 -3.3% -10.4% -1.0% 6.02%
2021 -0.3% -3.3% 2.5% 6.02%
2020 0.0% -0.6% 1.9% 89.87%
2019 N/A -1.0% 1.4% N/A
2018 N/A -27.5% 0.3% N/A

Total Return Ranking - Trailing

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -76.5% 2.1% 97.62%
1 Yr -3.2% -8.9% -0.6% 11.90%
3 Yr -1.3%* -6.1% 0.5% 19.75%
5 Yr N/A* -27.5% 1.6% 19.05%
10 Yr N/A* -14.9% 1.2% 54.88%

* Annualized

Total Return Ranking - Calendar

Period FEUNX Return Category Return Low Category Return High Rank in Category (%)
2022 -3.3% -10.7% -0.9% 7.23%
2021 -0.3% -64.0% -0.1% 4.82%
2020 0.0% -0.6% 1.9% 89.87%
2019 N/A -1.0% 1.4% N/A
2018 N/A -27.5% 0.4% N/A

NAV & Total Return History


FEUNX - Holdings

Concentration Analysis

FEUNX Category Low Category High FEUNX % Rank
Net Assets 192 M 1.74 M 24.9 B 75.00%
Number of Holdings 165 8 1432 50.60%
Net Assets in Top 10 40.6 M -2.46 B 13.3 B 79.52%
Weighting of Top 10 27.67% 17.0% 100.0% 70.67%

Top 10 Holdings

  1. Federal National Mortgage Association 2% 4.73%
  2. United States Treasury Notes 0.64093% 3.41%
  3. United States Treasury Notes 0.63493% 3.41%
  4. Federal Home Loan Mortgage Corporation 0.23967% 3.40%
  5. Federal National Mortgage Association 2% 3.37%
  6. United States Treasury Notes 0.125% 3.30%
  7. Federal National Mortgage Association 2% 3.05%
  8. United States Treasury Notes 0.24% 2.96%
  9. Federal Home Loan Mortgage Corporation 0.25967% 2.88%
  10. Federal Home Loan Mortgage Corporation 0.54143% 2.66%

Asset Allocation

Weighting Return Low Return High FEUNX % Rank
Bonds
98.01% 82.13% 115.04% 49.40%
Cash
1.99% -15.04% 17.87% 49.40%
Stocks
0.00% 0.00% 0.00% 42.17%
Preferred Stocks
0.00% 0.00% 0.00% 42.17%
Other
0.00% 0.00% 2.95% 45.78%
Convertible Bonds
0.00% 0.00% 0.00% 42.17%

Bond Sector Breakdown

Weighting Return Low Return High FEUNX % Rank
Securitized
86.56% 0.00% 100.00% 7.23%
Government
11.44% 0.00% 99.96% 81.93%
Cash & Equivalents
1.99% 0.00% 16.80% 48.19%
Derivative
0.00% 0.00% 1.16% 42.17%
Corporate
0.00% 0.00% 34.19% 53.01%
Municipal
0.00% 0.00% 6.22% 54.22%

Bond Geographic Breakdown

Weighting Return Low Return High FEUNX % Rank
US
98.01% 81.77% 115.04% 48.19%
Non US
0.00% 0.00% 12.26% 48.19%

FEUNX - Expenses

Operational Fees

FEUNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.31% 0.03% 1.80% 76.19%
Management Fee 0.25% 0.03% 0.80% 25.30%
12b-1 Fee N/A 0.00% 1.00% 65.79%
Administrative Fee 0.10% 0.05% 0.45% 33.33%

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 0.00% 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 82.00% 0.00% 466.00% 36.36%

FEUNX - Distributions

Dividend Yield Analysis

FEUNX Category Low Category High FEUNX % Rank
Dividend Yield 4.12% 0.00% 5.47% 41.67%

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 0.47% -0.78% 3.29% 45.68%

Capital Gain Distribution Analysis

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

Distributions History

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FEUNX - Fund Manager Analysis

Managers

Todd Abraham


Start Date

Tenure

Tenure Rank

Aug 01, 1995

26.85

26.9%

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

4.58

4.6%

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
0.49 32.44 10.15 7.33