Federated Municipal Ultrashort Instl
- FMUSX
- Price as of: Nov 20, 2020
-
$10.04
N/A N/A
- Primary Theme
- Municipal Bond
- Fund Company
- Federated
- Share Class
FMUSX - Snapshot
Vitals
- YTD Return 0.1%
- 3 Yr Annualized Return 1.5%
- 5 Yr Annualized Return 1.3%
- Net Assets $2.83 B
- Holdings in Top 10 16.8%
52 WEEK LOW AND HIGH
$10.04
$9.81
$10.06
Expenses
OPERATING RELATED FEES
- Expense Ratio 0.44%
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) $1,000,000
- IRA N/A
Fund Classification
-
Primary Theme
Municipal Bond
- Fund Type Open End Mutual Fund
- Investment Style Muni National Short
FMUSX - Profile
Distributions
- YTD Total Return 0.1%
- 3 Yr Annualized Total Return 1.5%
- 5 Yr Annualized Total Return 1.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.72%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFederated Hermes Municipal Ultra Short Fund
-
Fund Family NameFederated
-
Inception DateOct 24, 2000
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJeff 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.
FMUSX - Performance
Return Ranking - Trailing
| Period | FMUSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.1% | -6.7% | 307.0% | 88.53% |
| 1 Yr | 1.2% | -5.4% | 5.8% | 87.95% |
| 3 Yr | 1.5%* | -0.6% | 8.2% | 96.24% |
| 5 Yr | 1.3%* | -0.3% | 6.9% | 95.87% |
| 10 Yr | 1.0%* | -0.1% | 8.1% | 96.76% |
* Annualized
Return Ranking - Calendar
| Period | FMUSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 0.5% | -0.3% | 15.4% | 98.05% |
| 2018 | -0.1% | -10.3% | 97.2% | 6.37% |
| 2017 | 0.1% | -100.0% | 7.6% | 88.39% |
| 2016 | -0.1% | -7.9% | 96.8% | 0.86% |
| 2015 | -0.5% | -4.8% | 3.0% | 67.46% |
Total Return Ranking - Trailing
| Period | FMUSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.1% | -6.7% | 307.0% | 88.53% |
| 1 Yr | 1.2% | -8.3% | 5.8% | 58.42% |
| 3 Yr | 1.5%* | -2.5% | 8.2% | 92.47% |
| 5 Yr | 1.3%* | -1.5% | 6.9% | 94.31% |
| 10 Yr | 1.0%* | -0.4% | 8.1% | 96.56% |
* Annualized
Total Return Ranking - Calendar
| Period | FMUSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 0.5% | -0.3% | 15.4% | 98.17% |
| 2018 | -0.1% | -10.3% | 11.0% | 10.22% |
| 2017 | 0.1% | -100.0% | 7.6% | 89.77% |
| 2016 | -0.1% | -7.9% | 3.0% | 3.37% |
| 2015 | -0.5% | -4.8% | 4.0% | 70.64% |
NAV & Total Return History
FMUSX - Holdings
Concentration Analysis
| FMUSX | Category Low | Category High | FMUSX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.83 B | 611 K | 78.6 B | 13.31% |
| Number of Holdings | 379 | 1 | 10083 | 28.75% |
| Net Assets in Top 10 | 484 M | -199 M | 4.54 B | 6.03% |
| Weighting of Top 10 | 16.84% | 2.5% | 100.0% | 55.49% |
Top 10 Holdings
- PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 0.17% 2.24%
- PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 0.17% 2.06%
- PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 0.4% 1.76%
- NUVEEN AMT-FREE MUN CR INCOME FD 0.68% 1.74%
- PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 0.65% 1.74%
- CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 0.75% 1.74%
- ELMIRA CITY N Y SCH DIST 1.5% 1.48%
- J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS 0.29% 1.45%
- TEXAS ST 4% 1.44%
- PITTSBURGH PA WTR & SWR AUTH WTR & SWR SYS REV 0.76% 1.39%
Asset Allocation
| Weighting | Return Low | Return High | FMUSX % Rank | |
|---|---|---|---|---|
| Bonds | 97.21% | 0.00% | 147.66% | 71.21% |
| Cash | 2.79% | -47.66% | 100.00% | 27.73% |
| Stocks | 0.00% | 0.00% | 1.80% | 37.69% |
| Preferred Stocks | 0.00% | -0.98% | 1.07% | 34.44% |
| Other | 0.00% | -1.46% | 12.83% | 37.26% |
| Convertible Bonds | 0.00% | 0.00% | 1.64% | 34.78% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FMUSX % Rank | |
|---|---|---|---|---|
| Municipal | 97.21% | 0.00% | 100.00% | 69.90% |
| Cash & Equivalents | 2.79% | 0.00% | 100.00% | 27.79% |
| Derivative | 0.00% | 0.00% | 2.16% | 34.33% |
| Securitized | 0.00% | 0.00% | 6.06% | 36.19% |
| Corporate | 0.00% | 0.00% | 12.97% | 44.70% |
| Government | 0.00% | 0.00% | 49.72% | 38.33% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FMUSX % Rank | |
|---|---|---|---|---|
| US | 97.21% | 0.00% | 141.34% | 50.00% |
| Non US | 0.00% | 0.00% | 27.62% | 82.41% |
FMUSX - Expenses
Operational Fees
| FMUSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.44% | 0.01% | 4.23% | 90.28% |
| Management Fee | 0.30% | 0.00% | 1.10% | 13.92% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.01% | 0.47% | 33.03% |
Sales Fees
| FMUSX 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
| FMUSX 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.
| FMUSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 83.00% | 0.00% | 235.00% | 94.27% |
FMUSX - Distributions
Dividend Yield Analysis
| FMUSX | Category Low | Category High | FMUSX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 3.55% | 39.08% |
Dividend Distribution Analysis
| FMUSX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FMUSX | Category Low | Category High | FMUSX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.72% | 0.00% | 6.48% | 82.90% |
Capital Gain Distribution Analysis
| FMUSX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Jun 28, 2019 | $0.014 |
| May 31, 2019 | $0.015 |
| Apr 30, 2019 | $0.015 |
| Mar 29, 2019 | $0.015 |
| Feb 28, 2019 | $0.014 |
| Jan 31, 2019 | $0.015 |
| Dec 31, 2018 | $0.015 |
| Nov 30, 2018 | $0.015 |
| Oct 31, 2018 | $0.015 |
| Aug 31, 2018 | $0.014 |
| Jul 31, 2018 | $0.012 |
| Jun 29, 2018 | $0.012 |
| May 31, 2018 | $0.013 |
| Apr 30, 2018 | $0.014 |
| Mar 29, 2018 | $0.012 |
| Feb 28, 2018 | $0.010 |
| Jan 31, 2018 | $0.012 |
| Dec 29, 2017 | $0.011 |
| Nov 30, 2017 | $0.009 |
| Oct 31, 2017 | $0.009 |
| Sep 29, 2017 | $0.009 |
| Aug 31, 2017 | $0.009 |
| Jul 31, 2017 | $0.009 |
| Jun 30, 2017 | $0.009 |
| May 31, 2017 | $0.009 |
| Apr 28, 2017 | $0.009 |
| Mar 31, 2017 | $0.008 |
| Feb 28, 2017 | $0.007 |
| Jan 31, 2017 | $0.008 |
| Dec 30, 2016 | $0.007 |
| Nov 30, 2016 | $0.007 |
| Oct 31, 2016 | $0.008 |
| Sep 30, 2016 | $0.007 |
| Aug 31, 2016 | $0.007 |
| Jul 29, 2016 | $0.007 |
| Jun 30, 2016 | $0.007 |
| May 31, 2016 | $0.007 |
| Apr 29, 2016 | $0.007 |
| Mar 31, 2016 | $0.006 |
| Feb 29, 2016 | $0.005 |
| Jan 29, 2016 | $0.006 |
| Dec 31, 2015 | $0.005 |
| Nov 30, 2015 | $0.005 |
| Oct 30, 2015 | $0.005 |
| Sep 30, 2015 | $0.005 |
| Aug 31, 2015 | $0.005 |
| Jul 31, 2015 | $0.005 |
| Jun 30, 2015 | $0.005 |
| May 29, 2015 | $0.005 |
| Apr 30, 2015 | $0.005 |
| Mar 31, 2015 | $0.005 |
| Feb 27, 2015 | $0.004 |
| Jan 30, 2015 | $0.005 |
| Dec 31, 2014 | $0.005 |
| Nov 28, 2014 | $0.005 |
| Oct 31, 2014 | $0.005 |
| Sep 30, 2014 | $0.005 |
| Aug 29, 2014 | $0.006 |
| Jul 31, 2014 | $0.006 |
| Jun 30, 2014 | $0.006 |
| May 31, 2014 | $0.006 |
| Apr 30, 2014 | $0.006 |
| Mar 31, 2014 | $0.006 |
| Feb 28, 2014 | $0.006 |
| Jan 31, 2014 | $0.006 |
| Dec 31, 2013 | $0.006 |
| Nov 29, 2013 | $0.006 |
| Oct 31, 2013 | $0.006 |
| Sep 30, 2013 | $0.006 |
| Aug 30, 2013 | $0.006 |
| Jul 31, 2013 | $0.006 |
| Jun 28, 2013 | $0.006 |
| May 31, 2013 | $0.007 |
| Apr 30, 2013 | $0.007 |
| Mar 28, 2013 | $0.006 |
| Feb 28, 2013 | $0.006 |
| Jan 31, 2013 | $0.006 |
| Dec 31, 2012 | $0.007 |
| Nov 30, 2012 | $0.007 |
| Oct 31, 2012 | $0.008 |
| Sep 28, 2012 | $0.007 |
| Aug 31, 2012 | $0.008 |
| Jul 31, 2012 | $0.008 |
| Jun 29, 2012 | $0.008 |
| May 31, 2012 | $0.009 |
| Apr 30, 2012 | $0.008 |
| Mar 30, 2012 | $0.008 |
| Feb 29, 2012 | $0.008 |
| Jan 31, 2012 | $0.009 |
| Dec 30, 2011 | $0.010 |
| Nov 30, 2011 | $0.010 |
| Oct 31, 2011 | $0.012 |
| Sep 30, 2011 | $0.012 |
| Aug 31, 2011 | $0.013 |
| Jul 29, 2011 | $0.012 |
| Jun 30, 2011 | $0.012 |
| May 31, 2011 | $0.012 |
| Apr 29, 2011 | $0.012 |
| Mar 31, 2011 | $0.011 |
| Feb 28, 2011 | $0.012 |
| Jan 31, 2011 | $0.012 |
| Dec 31, 2010 | $0.013 |
| Nov 30, 2010 | $0.011 |
| Oct 29, 2010 | $0.009 |
| Sep 30, 2010 | $0.010 |
| Aug 31, 2010 | $0.009 |
| Jul 30, 2010 | $0.009 |
| Jun 30, 2010 | $0.009 |
| May 28, 2010 | $0.009 |
| Apr 30, 2010 | $0.009 |
| Mar 31, 2010 | $0.008 |
| Feb 26, 2010 | $0.008 |
| Jan 29, 2010 | $0.008 |
| Dec 31, 2009 | $0.009 |
| Nov 30, 2009 | $0.009 |
| Oct 30, 2009 | $0.009 |
| Sep 30, 2009 | $0.012 |
| Aug 31, 2009 | $0.015 |
| Jul 31, 2009 | $0.017 |
| Jun 30, 2009 | $0.018 |
| May 29, 2009 | $0.020 |
| Apr 30, 2009 | $0.020 |
| Mar 31, 2009 | $0.019 |
| Feb 27, 2009 | $0.020 |
| Jan 30, 2009 | $0.021 |
| Dec 31, 2008 | $0.024 |
| Nov 28, 2008 | $0.032 |
| Oct 31, 2008 | $0.042 |
| Sep 30, 2008 | $0.032 |
| Aug 29, 2008 | $0.026 |
| Jul 31, 2008 | $0.028 |
| Jun 30, 2008 | $0.029 |
| May 30, 2008 | $0.030 |
| Apr 30, 2008 | $0.032 |
| Mar 31, 2008 | $0.034 |
| Feb 29, 2008 | $0.030 |
| Jan 31, 2008 | $0.031 |
| Dec 31, 2007 | $0.033 |
| Nov 30, 2007 | $0.032 |
| Oct 31, 2007 | $0.032 |
| Sep 28, 2007 | $0.032 |
| Aug 31, 2007 | $0.032 |
| Jul 31, 2007 | $0.032 |
| Jun 29, 2007 | $0.032 |
| May 31, 2007 | $0.032 |
| Apr 30, 2007 | $0.031 |
| Mar 30, 2007 | $0.031 |
| Feb 28, 2007 | $0.030 |
| Jan 31, 2007 | $0.031 |
| Dec 29, 2006 | $0.031 |
| Nov 30, 2006 | $0.030 |
| Oct 31, 2006 | $0.030 |
| Sep 29, 2006 | $0.030 |
| Aug 31, 2006 | $0.030 |
| Jul 31, 2006 | $0.030 |
| Jun 30, 2006 | $0.030 |
| May 31, 2006 | $0.030 |
| Apr 28, 2006 | $0.028 |
| Mar 31, 2006 | $0.027 |
| Feb 28, 2006 | $0.026 |
| Jan 31, 2006 | $0.026 |
FMUSX - Fund Manager Analysis
Managers
Jeff Kozemchak
Start Date
Tenure
Tenure Rank
Oct 24, 2000
20.03
20.0%
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
2.92
2.9%
Ms. Ochson joined Federated Investment Management Company in 1982 as a portfolio manager and Ms. Ochson is a Senior Portfolio Manager and Head of the Tax-Free Money Market Investment Group. 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. Ms. Ochson is a Senior Portfolio Manager and Head of the Tax-Free Money Market Investment Group.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.02 | 35.61 | 7.62 | 2.84 |