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FMUSX Federated Municipal Ultrashort Instl

  • Fund
  • FMUSX
  • Price as of: Sep 17, 2019
  • $10.01 - $0.00 - 0.00%

FMUSX - Profile

Vitals

  • YTD Return 0.3%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return -0.1%
  • Net Assets $2.74 B
  • Holdings in Top 10 17.2%

52 WEEK LOW AND HIGH

$10.01
$9.98
$10.03

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.48%

SALES FEES

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

BROKERAGE FEES

  • Turnover 87.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Short

Distributions

  • YTD Total Return 0.3%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.39%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Federated Municipal Ultra Short Fund
  • Fund Family Name Federated
  • Inception Date Oct 24, 2000
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Jeff A. 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 0.3% -0.2% 18.3% 98.89%
1 Yr 0.2% -4.4% 15.6% 97.52%
3 Yr 0.1%* -3.0% 9.3% 32.89%
5 Yr -0.1%* -14.8% 3.5% 64.66%
10 Yr 0.0%* -8.7% 6.5% 76.26%

* Annualized


Return Ranking - Calendar

Period FMUSX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.1% -13.7% 6.9% 2.87%
2017 0.1% -6.5% 21.2% 78.16%
2016 -0.1% -58.1% 8.6% 44.67%
2015 -0.5% -24.0% 2.6% 32.39%
2014 0.1% -60.4% 83.0% 79.79%

Total Return Ranking - Trailing

Period FMUSX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -0.2% 18.3% 98.92%
1 Yr 0.2% -4.4% 15.6% 97.75%
3 Yr 0.1%* -3.0% 9.3% 44.31%
5 Yr -0.1%* -14.8% 5.5% 73.72%
10 Yr 0.0%* -8.7% 7.0% 84.38%

* Annualized


Total Return Ranking - Calendar

Period FMUSX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.1% -13.7% 6.9% 8.50%
2017 0.1% -6.5% 27.0% 82.25%
2016 -0.1% -58.1% 10.7% 50.51%
2015 -0.5% -14.6% 4.2% 41.37%
2014 0.1% -60.4% 83.0% 83.88%

NAV & Total Return History

FMUSX - Holdings

Concentration Analysis

FMUSX Category Low Category High FMUSX % Rank
Net Assets 2.74 B 701 K 241 B 22.38%
Number of Holdings 282 1 17412 51.03%
Net Assets in Top 10 464 M -179 M 23.7 B 20.22%
Weighting of Top 10 17.24% 2.5% 212.7% 62.16%

Top 10 Holdings

  1. NUVEEN CALIF AMT FREE MUNICIPAL INCOME FD 2.2% 2.76%

  2. PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 2.12% 2.20%

  3. CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 2.33% 1.86%

  4. PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV 1.95% 1.86%

  5. PORT PORT ARTHUR TEX NAV DIST EXEMPT FACS REV 1.9% 1.64%

  6. PITTSBURGH PA WTR & SWR AUTH WTR & SWR SYS REV 2.39% 1.49%

  7. RIB FLOATER TR VARIOUS STS 2.4% 1.41%

  8. TENDER OPT BD TR RCPTS / CTFS VAR STS 2.3% 1.36%

  9. GAINESVILLE & HALL CNTY GA HOSP AUTH REV ANTIC CTFS 2.12% 1.36%

  10. PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 2.05% 1.30%


Asset Allocation

Weighting Return Low Return High FMUSX % Rank
Bonds
98.46% 80.17% 129.72% 38.68%
Cash
1.54% -37.85% 22.95% 54.58%
Stocks
0.00% -14.50% 14.08% 50.51%
Preferred Stocks
0.00% -1.25% 4.10% 53.74%
Other
0.00% -16.03% 27.53% 47.58%
Convertible Bonds
0.00% 0.00% 6.30% 68.97%

Bond Sector Breakdown

Weighting Return Low Return High FMUSX % Rank
Municipal
94.00% 0.00% 106.42% 38.75%
Cash & Equivalents
6.00% -37.85% 22.95% 15.20%
Derivative
0.00% -24.73% 33.80% 47.51%
Securitized
0.00% 0.00% 141.25% 75.57%
Corporate
0.00% -1.23% 99.47% 78.68%
Government
0.00% -74.40% 115.78% 75.13%

Bond Geographic Breakdown

Weighting Return Low Return High FMUSX % Rank
US
98.46% 66.38% 150.14% 23.44%
Non US
0.00% -43.03% 26.38% 90.40%

FMUSX - Expenses

Operational Fees

FMUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.48% 0.00% 209.96% 83.67%
Management Fee 0.30% 0.00% 1.25% 23.52%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.63% 56.74%

Sales Fees

FMUSX 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 0.00% 5.50% N/A

Trading Fees

FMUSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Turnover 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 87.00% 0.00% 1856.00% 70.23%

FMUSX - Distributions

Dividend Yield Analysis

FMUSX Category Low Category High FMUSX % Rank
Dividend Yield 1.33% 0.00% 95.96% 53.85%

Dividend Distribution Analysis

FMUSX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

FMUSX Category Low Category High FMUSX % Rank
Net Income Ratio 1.39% -0.18% 4.99% 92.45%

Capital Gain Distribution Analysis

FMUSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

FMUSX - Managers

Jeff A. Kozemchak

Manager

Start Date

Tenure

Tenure Rank

Oct 24, 2000

18.86

18.9%

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 Jo Ochson

Manager

Start Date

Tenure

Tenure Rank

Nov 30, 2017

1.75

1.8%

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

0.0

Category High

39.94

Category Average

7.49

Category Mode

7.29