FMULX: Federated Municipal Ultra Short Fund

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FMULX Federated Municipal Ultra Short Fund


Profile

FMULX - Profile

Vitals

  • YTD Return 0.1%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $2.7 B
  • Holdings in Top 10 17.4%

52 WEEK LOW AND HIGH

$10.03
$9.80
$10.06

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.41%

SALES FEES

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

BROKERAGE FEES

  • Turnover 83.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • 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 1.52%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes Municipal Ultra Short Fund
  • Fund Family Name
    Federated
  • Inception Date
    May 29, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Jeff Kozemchak

Fund Description

The fund invests at least 65% of its assets in securities rated investment grade and may purchase securities rated below investment-grade up to 35% of its assets. Its adviser seeks to maintain a low degree of share price fluctuation by generally limiting the fund's dollar-weighted average portfolio duration to one year or less. It will normally invest so that at least 80% of its net assets are in tax-exempt securities or at least 80% of its annual interest income is exempt from federal regular income tax.


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Categories

Performance

FMULX - Performance

Return Ranking - Trailing

Period FMULX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -31.9% 954.3% 83.41%
1 Yr 0.2% -28.0% 949.8% 81.72%
3 Yr N/A* -17.5% 120.9% 29.13%
5 Yr N/A* -8.5% 60.6% 29.72%
10 Yr N/A* -5.2% 14.4% 43.79%

* Annualized

Return Ranking - Calendar

Period FMULX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -5.8% 20.3% N/A
2018 N/A -29.6% 4.6% N/A
2017 N/A -6.0% 15.8% N/A
2016 N/A -7.8% 15.0% N/A
2015 N/A -11.6% 3.0% N/A

Total Return Ranking - Trailing

Period FMULX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -31.9% 954.3% 83.41%
1 Yr 0.2% -28.0% 949.8% 81.72%
3 Yr N/A* -17.5% 120.9% 36.06%
5 Yr N/A* -8.5% 60.6% 39.79%
10 Yr N/A* -5.2% 16.2% 53.80%

* Annualized

Total Return Ranking - Calendar

Period FMULX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A -5.8% 20.3% N/A
2018 N/A -29.6% 4.6% N/A
2017 N/A -6.0% 15.8% N/A
2016 N/A -7.8% 15.0% N/A
2015 N/A -9.9% 3.0% N/A

NAV & Total Return History


Holdings

FMULX - Holdings

Concentration Analysis

FMULX Category Low Category High FMULX % Rank
Net Assets 2.7 B 619 K 88.4 B 20.87%
Number of Holdings 311 1 10083 50.39%
Net Assets in Top 10 421 M -202 M 26.9 B 19.07%
Weighting of Top 10 17.42% 2.6% 100.0% 61.16%

Top 10 Holdings

  1. PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 1.95% 2.09%
  2. NUVEEN AMT-FREE MUN CR INCOME FD 0.92% 2.07%
  3. PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 3% 2.07%
  4. CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 0.78% 2.06%
  5. PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 0.9% 1.83%
  6. PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 0.9% 1.72%
  7. PITTSBURGH PA WTR & SWR AUTH WTR & SWR SYS REV 0.76% 1.65%
  8. ELMIRA CITY N Y SCH DIST 1.5% 1.48%
  9. NEW JERSEY ST TPK AUTH TPK REV 0.58% 1.24%
  10. SOUTHEAST ALA GAS SUPPLY DIST GAS SUPPLY REV 0.97% 1.21%

Asset Allocation

Weighting Return Low Return High FMULX % Rank
Bonds
95.29% 78.92% 199.79% 61.26%
Cash
4.71% -128.23% 19.68% 29.39%
Stocks
0.00% -4.99% 21.62% 70.84%
Preferred Stocks
0.00% -0.17% 22.02% 73.47%
Other
0.00% -9.40% 31.94% 66.33%
Convertible Bonds
0.00% 0.00% 9.45% 82.96%

Bond Sector Breakdown

Weighting Return Low Return High FMULX % Rank
Municipal
95.29% 0.00% 100.06% 34.73%
Cash & Equivalents
4.71% -26.49% 93.17% 34.68%
Derivative
0.00% 0.00% 39.43% 72.13%
Securitized
0.00% 0.00% 97.53% 85.35%
Corporate
0.00% 0.00% 99.00% 88.21%
Government
0.00% -2.21% 99.96% 86.60%

Bond Geographic Breakdown

Weighting Return Low Return High FMULX % Rank
US
95.29% 49.78% 199.79% 36.11%
Non US
0.00% -12.10% 39.65% 93.55%

Expenses

FMULX - Expenses

Operational Fees

FMULX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.41% 0.01% 34.57% 89.44%
Management Fee 0.30% 0.00% 1.60% 23.83%
12b-1 Fee N/A 0.00% 1.00% 8.14%
Administrative Fee 0.10% 0.00% 0.50% 54.03%

Sales Fees

FMULX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

FMULX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

FMULX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 83.00% 0.00% 496.90% 71.51%

Distributions

FMULX - Distributions

Dividend Yield Analysis

FMULX Category Low Category High FMULX % Rank
Dividend Yield 0.00% 0.00% 3.88% 69.14%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FMULX Category Low Category High FMULX % Rank
Net Income Ratio 1.52% -0.81% 6.02% 91.73%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

FMULX - Fund Manager Analysis

Managers

Jeff Kozemchak


Start Date

Tenure

Tenure Rank

Oct 24, 2000

19.87

19.9%

Mr. Kozemchak joined Federated in 1987 and has been a Senior Portfolio Manager since 1996 and a Senior Vice President of Federated since 1999. He was a Portfolio Manager until 1996 and a Vice President of Federated from 1993 to 1998. Mr. Kozemchak has received the Chartered Financial Analyst designation and his M.S. in Industrial Administration from Carnegie Mellon University in 1987.

Mary Ochson


Start Date

Tenure

Tenure Rank

Nov 30, 2017

2.75

2.8%

Ms. Ochson joined Federated Investment Management Company in 1982 as a portfolio manager. She was appointed Senior Vice President in 2004. Ms. Ochson has received the Chartered Financial Analyst designation and a M.B.A. from University of Pittsburgh.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 33.3 7.04 0.17