Federated Adjustable Rate Securities Fund
- FEUNX
- Price as of: Nov 24, 2020
-
$9.64
N/A N/A
- Primary Theme
- Short-Term U.S. Treasury Note
- Fund Company
- Federated
- Share Class
FEUNX - Snapshot
Vitals
- YTD Return -0.2%
- 3 Yr Annualized Return 1.7%
- 5 Yr Annualized Return 1.2%
- Net Assets $162 M
- Holdings in Top 10 31.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 0.64%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 80.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $1,000,000
- IRA N/A
Fund Classification
-
Primary Theme
Short-Term U.S. Treasury Note
- Fund Type Open End Mutual Fund
- Investment Style Short Government
FEUNX - Profile
Distributions
- YTD Total Return -0.2%
- 3 Yr Annualized Total Return 1.7%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.78%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFederated Hermes Adjustable Rate Fund
-
Fund Family NameFederated
-
Inception DateAug 05, 2019
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerTodd 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.
FEUNX - Performance
Return Ranking - Trailing
| Period | FEUNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.2% | -1.3% | 5.9% | 86.81% |
| 1 Yr | 1.2% | 0.5% | 5.5% | 93.62% |
| 3 Yr | 1.7%* | 0.9% | 4.1% | 82.98% |
| 5 Yr | 1.2%* | 0.2% | 3.0% | 79.79% |
| 10 Yr | 0.8%* | -0.1% | 2.4% | 75.58% |
* 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% | 0.4% | N/A |
| 2016 | N/A | -4.1% | 900.0% | N/A |
| 2015 | N/A | -3.6% | 22.5% | N/A |
Total Return Ranking - Trailing
| Period | FEUNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.2% | -1.3% | 5.9% | 86.81% |
| 1 Yr | 1.2% | -3.1% | 5.5% | 79.57% |
| 3 Yr | 1.7%* | 0.0% | 4.1% | 76.34% |
| 5 Yr | 1.2%* | 0.0% | 3.0% | 78.49% |
| 10 Yr | 0.8%* | -0.1% | 2.4% | 74.12% |
* 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% | 22.5% | N/A |
NAV & Total Return History
FEUNX - Holdings
Concentration Analysis
| FEUNX | Category Low | Category High | FEUNX % Rank | |
|---|---|---|---|---|
| Net Assets | 162 M | 1.55 M | 21.2 B | 80.00% |
| Number of Holdings | 157 | 1 | 1629 | 56.84% |
| Net Assets in Top 10 | 54.6 M | 1.39 M | 10.3 B | 86.32% |
| Weighting of Top 10 | 31.10% | 17.3% | 100.0% | 58.62% |
Top 10 Holdings
- Federated Hermes Govt Obl Premier 7.46%
- Federal National Mortgage Association 2% 4.73%
- Federal National Mortgage Association 0.45% 3.35%
- Federal National Mortgage Association 2% 3.05%
- Federal National Mortgage Association 0.5% 2.97%
- Federal National Mortgage Association 0.58% 2.42%
- American Express Credit Account Master Trust 0.56% 2.40%
- Federal National Mortgage Association 4.19% 2.36%
- Federal Home Loan Mortgage Corporation 0.44% 2.25%
- Federal National Mortgage Association 0.6% 2.24%
Asset Allocation
| Weighting | Return Low | Return High | FEUNX % Rank | |
|---|---|---|---|---|
| Bonds | 92.54% | 39.95% | 102.57% | 66.32% |
| Cash | 7.46% | -8.33% | 60.05% | 35.79% |
| Stocks | 0.00% | 0.00% | 0.00% | 50.53% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 50.53% |
| Other | 0.00% | 0.00% | 5.77% | 51.58% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 50.53% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FEUNX % Rank | |
|---|---|---|---|---|
| Securitized | 92.54% | 0.00% | 94.35% | 7.37% |
| Cash & Equivalents | 7.46% | 0.00% | 60.05% | 50.53% |
| Derivative | 0.00% | 0.00% | 0.10% | 50.53% |
| Corporate | 0.00% | 0.00% | 48.60% | 60.00% |
| Municipal | 0.00% | 0.00% | 6.03% | 57.89% |
| Government | 0.00% | 0.00% | 100.00% | 92.63% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FEUNX % Rank | |
|---|---|---|---|---|
| US | 92.54% | 39.95% | 102.57% | 65.26% |
| Non US | 0.00% | -1.37% | 17.39% | 53.68% |
FEUNX - Expenses
Operational Fees
| FEUNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.64% | 0.03% | 2.31% | 58.06% |
| Management Fee | 0.30% | 0.03% | 0.80% | 27.66% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.05% | 0.45% | 34.38% |
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 | 80.00% | 0.00% | 499.00% | 62.22% |
FEUNX - Distributions
Dividend Yield Analysis
| FEUNX | Category Low | Category High | FEUNX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 1.67% | 57.89% |
Dividend Distribution Analysis
| FEUNX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FEUNX | Category Low | Category High | FEUNX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.78% | 0.47% | 2.73% | 44.57% |
Capital Gain Distribution Analysis
| FEUNX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
FEUNX - Fund Manager Analysis
Managers
Todd Abraham
Start Date
Tenure
Tenure Rank
Aug 01, 1995
25.27
25.3%
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
3.0
3.0%
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 |
|---|---|---|---|
| 0.08 | 34.85 | 10.38 | 5.75 |