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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$8.60

$8.23 B

6.70%

$0.58

0.50%

Vitals

YTD Return

2.9%

1 yr return

-10.7%

3 Yr Avg Return

-4.6%

5 Yr Avg Return

-3.0%

Net Assets

$8.23 B

Holdings in Top 10

8.5%

52 WEEK LOW AND HIGH

$8.6
$8.08
$9.69

Expenses

OPERATING FEES

Expense Ratio 0.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 32.00%

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

$8.60

$8.23 B

6.70%

$0.58

0.50%

FIHBX - Profile

Distributions

  • YTD Total Return 3.5%
  • 3 Yr Annualized Total Return -4.6%
  • 5 Yr Annualized Total Return -3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.76%
DIVIDENDS
  • Dividend Yield 6.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes Institutional High Yield Bond Fund
  • Fund Family Name
    Federated
  • Inception Date
    Nov 01, 2002
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Mark Durbiano

Fund Description

The Fund pursues its investment objective by investing primarily in a diversified portfolio of high yield corporate bonds (also known as “junk bonds”), which include debt securities issued by U.S. or foreign businesses (including emerging market debt securities). The Fund’s investment adviser (the “Adviser”) selects securities that it believes have attractive risk-return characteristics. The Adviser’s securities selection process includes an analysis of the issuer’s financial condition, business and product strength, competitive position and management expertise. The Adviser does not limit the Fund’s investments to securities of a particular maturity range.The Fund may invest in derivative contracts (for example, futures contracts, option contracts and swap contracts) to implement its investment strategies as more fully described in the Fund’s Prospectus. 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 will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in investments rated below investment-grade. The Fund will notify shareholders 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 in investments rated below investment-grade.
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FIHBX - Performance

Return Ranking - Trailing

Period FIHBX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -39.9% 7.5% 74.05%
1 Yr -10.7% -27.2% 21.3% 65.17%
3 Yr -4.6%* -16.1% 66.6% 60.62%
5 Yr -3.0%* -14.1% 37.2% 57.33%
10 Yr -1.8%* -9.3% 16.7% 29.54%

* Annualized

Return Ranking - Calendar

Period FIHBX Return Category Return Low Category Return High Rank in Category (%)
2022 -15.8% -44.3% 3.7% 58.98%
2021 -0.2% -56.9% 9.2% 70.33%
2020 0.1% -53.7% 70.9% 45.14%
2019 2.0% -33.7% 5.1% 43.74%
2018 -1.7% -9.4% 12.0% 63.70%

Total Return Ranking - Trailing

Period FIHBX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.5% -39.9% 7.5% 42.97%
1 Yr -10.7% -27.2% 23.7% 65.41%
3 Yr -4.6%* -16.1% 66.6% 61.43%
5 Yr -3.0%* -14.1% 37.2% 64.30%
10 Yr -1.8%* -9.3% 16.7% 45.78%

* Annualized

Total Return Ranking - Calendar

Period FIHBX Return Category Return Low Category Return High Rank in Category (%)
2022 -16.3% -44.3% 3.7% 66.80%
2021 -0.2% -56.9% 9.2% 70.19%
2020 0.1% -53.7% 70.9% 45.14%
2019 2.0% -33.7% 5.1% 46.99%
2018 -1.7% -9.4% 12.0% 70.79%

NAV & Total Return History


FIHBX - Holdings

Concentration Analysis

FIHBX Category Low Category High FIHBX % Rank
Net Assets 8.23 B 1.47 M 26.2 B 7.18%
Number of Holdings 631 2 2736 21.06%
Net Assets in Top 10 758 M -492 M 2.55 B 8.14%
Weighting of Top 10 8.50% 1.9% 100.0% 74.16%

Top 10 Holdings

  1. High Yield Bond Portfolio 1.38%
  2. HUB International Ltd. 7% 1.31%
  3. Federated Hermes Inst Prime Val Obl IS 1.24%
  4. Clarios Global Lp 8.5% 0.93%
  5. NFP Corp. 6.875% 0.86%
  6. 1011778 B.C. Unlimited Liability Company / New Red Finance, Inc. 4% 0.78%
  7. Tempo Acquisition LLC / Tempo Acquisition Fin Corp 6.75% 0.77%
  8. iHeartCommunications Inc 8.375% 0.73%
  9. Clydesdale Acquisition Holdings Inc. 8.75% 0.72%
  10. AVANTOR INC 9% 0.68%

Asset Allocation

Weighting Return Low Return High FIHBX % Rank
Bonds
97.94% 0.00% 154.38% 16.47%
Cash
1.24% -52.00% 100.00% 76.61%
Stocks
0.44% -0.60% 52.82% 41.96%
Convertible Bonds
0.38% 0.00% 17.89% 82.17%
Preferred Stocks
0.00% 0.00% 14.10% 82.17%
Other
0.00% -63.70% 32.06% 75.84%

Stock Sector Breakdown

Weighting Return Low Return High FIHBX % Rank
Utilities
0.00% 0.00% 100.00% 94.18%
Technology
0.00% 0.00% 34.19% 94.00%
Real Estate
0.00% 0.00% 86.71% 92.12%
Industrials
0.00% 0.00% 100.00% 96.06%
Healthcare
0.00% 0.00% 30.07% 93.25%
Financial Services
0.00% 0.00% 100.00% 95.12%
Energy
0.00% 0.00% 100.00% 35.08%
Communication Services
0.00% 0.00% 99.99% 22.51%
Consumer Defense
0.00% 0.00% 100.00% 93.62%
Consumer Cyclical
0.00% 0.00% 100.00% 94.37%
Basic Materials
0.00% 0.00% 100.00% 7.13%

Stock Geographic Breakdown

Weighting Return Low Return High FIHBX % Rank
US
0.44% -0.60% 47.59% 34.75%
Non US
0.00% -0.01% 5.26% 76.74%

Bond Sector Breakdown

Weighting Return Low Return High FIHBX % Rank
Corporate
98.75% 0.00% 100.00% 10.48%
Cash & Equivalents
1.25% 0.00% 100.00% 82.28%
Derivative
0.00% 0.00% 45.95% 74.51%
Securitized
0.00% 0.00% 97.24% 82.54%
Municipal
0.00% 0.00% 1.17% 67.92%
Government
0.00% 0.00% 99.07% 78.53%

Bond Geographic Breakdown

Weighting Return Low Return High FIHBX % Rank
US
88.30% 0.00% 150.64% 9.56%
Non US
9.64% 0.00% 96.17% 75.71%

FIHBX - Expenses

Operational Fees

FIHBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.02% 3.87% 84.27%
Management Fee 0.40% 0.00% 1.84% 15.94%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.50% 56.04%

Sales Fees

FIHBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

FIHBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 30.51%

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.

FIHBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 32.00% 1.00% 327.00% 8.15%

FIHBX - Distributions

Dividend Yield Analysis

FIHBX Category Low Category High FIHBX % Rank
Dividend Yield 6.70% 0.00% 39.70% 23.65%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FIHBX Category Low Category High FIHBX % Rank
Net Income Ratio 4.76% -2.39% 14.30% 31.38%

Capital Gain Distribution Analysis

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

Distributions History

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FIHBX - Fund Manager Analysis

Managers

Mark Durbiano


Start Date

Tenure

Tenure Rank

Nov 01, 2002

19.59

19.6%

Mr. Durbiano joined Federated in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of Federated Investment Management Company since 1996. From 1988 through 1995, Mr. Durbiano was a Portfolio Manager and a Vice President of Federated. Mr. Durbiano has received the Chartered Financial Analyst designation and an M.B.A. in Finance from the University of Pittsburgh.

Steven Wagner


Start Date

Tenure

Tenure Rank

Dec 31, 2017

4.42

4.4%

Mr. Wagner joined Federated in 1997 as an analyst in the high yield area and has been Senior Investment Analyst and Vice President of Federated Investment Management Company since 2003. Mr. Wagner received his B.S. from Boston College and his M.B.A. in Finance from the University of Pittsburgh.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.09 2.92