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Name

As of 11/19/2024

Price

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

Federated Hermes Muni and Stock Advantage Fund

FMUIX | Fund

$14.92

$1.37 B

2.49%

$0.37

0.83%

Vitals

YTD Return

9.5%

1 yr return

14.9%

3 Yr Avg Return

2.8%

5 Yr Avg Return

5.7%

Net Assets

$1.37 B

Holdings in Top 10

12.7%

52 WEEK LOW AND HIGH

$14.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.83%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 48.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/19/2024

Price

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

Federated Hermes Muni and Stock Advantage Fund

FMUIX | Fund

$14.92

$1.37 B

2.49%

$0.37

0.83%

FMUIX - Profile

Distributions

  • YTD Total Return 9.5%
  • 3 Yr Annualized Total Return 2.8%
  • 5 Yr Annualized Total Return 5.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.43%
DIVIDENDS
  • Dividend Yield 2.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes Muni and Stock Advantage Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Jan 03, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Richard Gallo

Fund Description

The Fund invests in a diversified portfolio that is allocated between tax-exempt securities and equity securities. In seeking to provide investors with a relatively high level of tax-advantaged income, the Fund will invest at least 50% of its total assets in tax-exempt securities; under current federal tax law, this strategy will enable interest earned on tax-exempt securities to retain its tax-exempt nature when paid to the Fund’s shareholders as dividends. The Fund normally will invest most of its remaining assets in domestic and foreign equity securities that the Fund’s investment adviser or subadviser (as applicable, “Adviser”) believes will be primarily income producing, with those dividends intended to be eligible for any reduced federal income tax rate that may be available with respect to qualified dividends. Shareholders should note that federal income tax laws with respect to qualified dividends may change, and any applicable reduced income tax rate may change or be eliminated for some or all individual taxpayers.The Fund intends that the income it receives from the portion of its portfolio invested in tax-exempt securities will be exempt from regular federal income tax when distributed to shareholders. The Fund will invest primarily in securities whose interest is not subject to (or not a specific preference item for purposes of) the federal alternative minimum income tax for individuals (AMT). While the Fund may invest in securities of any maturity, the Adviser generally seeks to manage the Fund so that at least a majority of the Fund’s tax-exempt portfolio will be invested in intermediate (i.e., securities with stated maturities of more than three years but less than 10 years) and/or long-term (i.e., securities with stated maturities of 10 or more years) tax-exempt securities. The allocation between intermediate and long-term securities generally will be driven by the Adviser’s assessment of income opportunities, as well as the Adviser’s expectations of likely price performance for different maturities along the yield curve. The Fund may invest in tax-exempt securities rated as low as “B” (including modifiers, sub-categories or gradations) by a nationally recognized statistical rating organization (NRSRO), or unrated securities of comparable quality. The presence of a ratings modifier, sub-category or gradation (for example, a (+) or (-)) is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund’s investment parameters. Tax-exempt securities rated below “BBB” by an NRSRO, such as Standard and Poor’s, are considered noninvestment-grade securities, which are also known as junk bonds. In addition to the other risks described in this Prospectus that are applicable to tax-exempt securities, noninvestment-grade securities are subject to the risks of investing in noninvestment-grade securities as described in the Fund’s Prospectus.Regarding the equity securities portion of the Fund’s portfolio, the Fund will invest primarily in income producing, domestic and foreign common stocks and other securities, the dividends from which are intended to be eligible for any reduced federal income tax rate that may be available with respect to qualified dividends. In selecting specific equity securities for the Fund, the Adviser seeks to identify companies whose stock is trading at a price lower than the expected intrinsic value based on such companies’ business and product strength, earnings quality, competitive position, management expertise and the sustainability of current growth trends. Further, the Adviser seeks to identify companies with the fundamental strength to capitalize on change characteristics, both internally and externally, including management changes, restructuring or merger and acquisition activity, sales mix shifts, regulatory changes, marketplace shifts or technological advances. The Adviser’s focus on primarily dividend paying securities strives to create an equity portfolio whose income levels are higher than the yield of applicable general market indices, such as the S&P 500 Index.The securities in which the Fund may principally invest include tax-exempt securities, which may include, for example, general obligation bonds, special revenue bonds, private activity bonds, tax increment financing bonds, municipal leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities and planned amortization classes (or PACs, a form of municipal mortgage-backed security issued with a companion class or classes to control prepayment risks). Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement. The equity securities in which the Fund may principally invest include, for example, common stocks, preferred stocks, foreign securities, American Depositary Receipts (ADRs) and domestically traded securities of foreign issuers. The Fund also may invest principally in convertible securities and securities of other investment companies.The Fund also may principally invest in derivative contracts (such as, for example, futures contracts, option contracts and swap contracts) and hybrid instruments to implement elements of its investment strategies. For example, the Fund may use derivative contracts or hybrid instruments in an attempt to benefit from changes in the value of the underlying instrument(s), to gain exposure to the municipal bond sector, to increase or decrease the effective duration of the Fund’s portfolio or to hedge against potential losses. 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 has fundamental investment policies under which the Fund will attempt: (a) to invest its assets so that the income derived from municipal securities (or tax-exempt securities) that it distributes will be exempt from federal income tax (including AMT), except when investing for “defensive” purposes; and (b) to invest so that dividends received for equity securities will qualify for federal income taxation at the 15% rate. For purposes of this policy, shareholders should note that federal income tax laws with respect to qualified dividends change, and any applicable reduced income tax rate may change or be eliminated for some or all individual taxpayers. For example, taxpayers earning above specified income levels will pay federal income tax rates on qualified dividends above 15%. At least 80% of the Fund’s assets will be invested in municipal bonds and equity securities at all times.
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FMUIX - Performance

Return Ranking - Trailing

Period FMUIX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% 3.9% 18.2% 22.06%
1 Yr 14.9% 8.0% 24.9% 18.14%
3 Yr 2.8%* -15.6% 5.3% 15.67%
5 Yr 5.7%* -0.8% 8.1% 11.89%
10 Yr 4.9%* 1.2% 7.5% 22.54%

* Annualized

Return Ranking - Calendar

Period FMUIX Return Category Return Low Category Return High Rank in Category (%)
2023 7.0% -1.0% 27.4% 40.69%
2022 -12.7% -35.0% -7.4% 5.71%
2021 5.5% -11.5% 14.6% 15.78%
2020 6.0% -10.3% 40.7% 36.66%
2019 10.6% -9.5% 22.1% 44.88%

Total Return Ranking - Trailing

Period FMUIX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.5% 3.9% 18.2% 22.06%
1 Yr 14.9% 8.0% 24.9% 18.14%
3 Yr 2.8%* -15.6% 5.3% 15.67%
5 Yr 5.7%* -0.8% 8.1% 11.89%
10 Yr 4.9%* 1.2% 7.5% 22.54%

* Annualized

Total Return Ranking - Calendar

Period FMUIX Return Category Return Low Category Return High Rank in Category (%)
2023 10.2% 2.6% 28.2% 50.98%
2022 -10.6% -35.0% -3.1% 24.32%
2021 10.7% -11.5% 32.0% 13.49%
2020 8.7% -5.4% 40.7% 55.53%
2019 12.6% 4.5% 27.7% 85.04%

NAV & Total Return History

FMUIX - Holdings

Concentration Analysis

FMUIX Category Low Category High FMUIX % Rank
Net Assets 1.37 B 305 K 50.8 B 28.85%
Number of Holdings 413 2 4065 22.00%
Net Assets in Top 10 177 M 284 K 10.3 B 65.53%
Weighting of Top 10 12.72% 9.7% 111.4% 94.13%

Top 10 Holdings

  1. Microsoft Corp 2.01%
  2. Apple Inc 1.99%
  3. Alphabet Inc 1.52%
  4. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 1.16%
  5. JPMorgan Chase Co 1.13%
  6. Amazon.com Inc 1.09%
  7. ELI LILLY CO 1.05%
  8. Broadcom Inc 0.98%
  9. Exxon Mobil Corp 0.97%
  10. New York City Transitional Finance Authority Future Tax Secured Revenue 0.81%

Asset Allocation

Weighting Return Low Return High FMUIX % Rank
Bonds 		57.05% 0.00% 79.72% 10.51%
Stocks 		43.47% 0.00% 100.08% 70.66%
Preferred Stocks 		0.00% 0.00% 21.95% 40.34%
Other 		0.00% -0.45% 61.72% 48.41%
Convertible Bonds 		0.00% 0.00% 71.77% 98.27%
Cash 		0.00% -35.68% 25.19% 95.60%

Stock Sector Breakdown

Weighting Return Low Return High FMUIX % Rank
Healthcare 		18.56% 0.00% 24.25% 0.75%
Financial Services 		15.25% 0.00% 83.50% 42.04%
Technology 		13.32% 0.22% 27.92% 73.63%
Energy 		9.15% 0.00% 62.93% 8.21%
Industrials 		8.90% 0.14% 17.90% 76.12%
Communication Services 		8.29% 0.00% 11.11% 17.66%
Consumer Cyclical 		8.13% 0.00% 14.20% 65.42%
Consumer Defense 		8.00% 0.00% 18.62% 34.33%
Utilities 		7.64% 0.00% 48.33% 12.19%
Basic Materials 		2.76% 0.00% 32.82% 91.04%
Real Estate 		0.00% 0.00% 43.16% 99.50%

Stock Geographic Breakdown

Weighting Return Low Return High FMUIX % Rank
US 		42.79% 0.00% 100.08% 66.99%
Non US 		0.69% 0.00% 23.24% 24.21%

Bond Sector Breakdown

Weighting Return Low Return High FMUIX % Rank
Municipal 		99.31% 0.00% 99.85% 1.48%
Derivative 		0.00% -0.45% 61.72% 35.45%
Cash & Equivalents 		0.00% 0.00% 25.19% 80.20%
Securitized 		0.00% 0.00% 52.08% 92.59%
Corporate 		0.00% 0.00% 96.66% 98.27%
Government 		0.00% 0.00% 63.33% 96.05%

Bond Geographic Breakdown

Weighting Return Low Return High FMUIX % Rank
US 		57.05% 0.00% 79.72% 8.07%
Non US 		0.00% 0.00% 7.66% 41.32%

FMUIX - Expenses

Operational Fees

FMUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.06% 21.26% 56.97%
Management Fee 0.65% 0.00% 1.25% 91.42%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.01% 0.70% 54.46%

Sales Fees

FMUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FMUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

FMUIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 2.00% 380.00% 67.65%

FMUIX - Distributions

Dividend Yield Analysis

FMUIX Category Low Category High FMUIX % Rank
Dividend Yield 2.49% 0.00% 7.99% 65.04%

Dividend Distribution Analysis

FMUIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Annual

Net Income Ratio Analysis

FMUIX Category Low Category High FMUIX % Rank
Net Income Ratio 2.43% -1.22% 6.83% 25.06%

Capital Gain Distribution Analysis

FMUIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

View More +

FMUIX - Fund Manager Analysis

Managers

Richard Gallo

Start Date

Tenure

Tenure Rank

Sep 26, 2003

18.69

18.7%

R.J. Gallo, Senior Portfolio Manager and Head of the Municipal Bond Investment Group, has been the Fund's Portfolio Manager since April of 2010. Mr. Gallo joined Federated in 2000 as an Investment Analyst. He became a Senior Vice President of the Fund's Adviser in 2011. From 2005 to 2010 Mr. Gallo served as Vice President and from January 2002 through 2004 and as an Assistant Vice President of the Fund's Adviser. He has been a Portfolio Manager since December 2002. From 1996 to 2000, Mr. Gallo was a Financial Analyst and Trader at the Federal Reserve Bank of New York. Mr. Gallo has received the Chartered Financial Analyst designation and a Master's in Public Affairs with a concentration in Economics and Public Policy from Princeton University.

Linda Bakhshian

Start Date

Tenure

Tenure Rank

Nov 30, 2009

12.51

12.5%

Ms. Bakhshian joined Federated in 2007 and has worked in investment management since 2002. Previously, she served as an equity research analyst with the Principal Financial Group from September 2002 to October 2007. Ms. Bakhshian has earned the Chartered Accountant designation and received her B.B. from the University of New England (Australia).

Ann Ferentino

Start Date

Tenure

Tenure Rank

Dec 31, 2013

8.42

8.4%

Ms. Ferentino joined Federated in November 1995 as a financial analyst and has worked in investment management since 2000. Ms. Ferentino has received the Chartered Financial Analyst designation. She received her B.S. from the University of Dayton and M.B.A. from the University of Pittsburgh.

Michael Jura

Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Michael Jura, Vice President, Portfolio Manager, Investment Analyst. Responsible for portfolio management and research in the global equity area. Previous associations: Associate Portfolio Manager/Investment Analyst, Equity Income, Federated Hermes; Associate Portfolio Manager, Fixed Income Managed Accounts, Federated Hermes; Global Market Applications Manager, Operations Strategy Senior Project Manager, Foreign Exchange Project Manager, The Bank of New York Mellon Corporation. B.S., Carnegie Mellon University; M.B.A., Tepper School of Business, Carnegie Mellon University. Joined Federated Hermes 2012

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 28.73 6.38 2.41

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