- ISIN
- US31420B8880
- CUSIP
- 31420B888
- Issuer
- Federated
- Inception Date
- Jul 10, 1997
- Category
- Ultrashort Bond
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
FGUSX Performance Chart
Federated Hermes Government Ultrashort Fund (FGUSX) is up 1.5% since the beginning of the year. FGUSX is currently trading at $10 per share.
Loading charts...
Returns By Period
Federated Hermes Government Ultrashort Fund (FGUSX) has returned 1.49% so far this year and 4.69% over the past 12 months.
Federated Hermes Government Ultrashort Fund
- 1D
- 0.00%
- 1M
- 0.34%
- YTD
- 1.49%
- 6M
- 1.97%
- 1Y
- 4.69%
- 3Y*
- 4.67%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FGUSX Monthly Returns History
Based on dividend-adjusted daily data since Dec 27, 2022, FGUSX's average daily return is +0.02%, while the average monthly return is +0.37%. At this rate, an investment would double in approximately 15.6 years.
Historically, 93% of months were positive and 7% were negative. The best month was Nov 2023 with a return of +0.9%, while the worst month was Oct 2023 at -0.3%. The longest winning streak lasted 23 consecutive months, and the longest losing streak was 1 months.
On a daily basis, FGUSX closed higher 14% of trading days. The best single day was Aug 31, 2023 with a return of +0.6%, while the worst single day was Mar 3, 2023 at -0.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.35% | 0.43% | 0.04% | 0.43% | 0.34% | -0.10% | 1.49% | ||||||
| 2025 | 0.42% | 0.59% | 0.29% | 0.29% | 0.29% | 0.49% | 0.40% | 0.50% | 0.49% | 0.39% | 0.47% | 0.47% | 5.22% |
| 2024 | 0.37% | 0.46% | 0.20% | 0.27% | 0.58% | 0.00% | 0.67% | 0.57% | 0.46% | 0.14% | 0.62% | 0.22% | 4.67% |
| 2023 | 0.45% | 0.36% | 0.48% | 0.42% | 0.25% | 0.43% | 0.25% | 0.38% | 0.16% | -0.31% | 0.89% | 0.78% | 4.61% |
| 2022 | 0.33% | 0.33% |
Benchmark Metrics
Federated Hermes Government Ultrashort Fund has an annualized alpha of 4.68%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 27, 2022.
- This fund captured 10.01% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -11.79%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.68%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 10.01%
- Downside Capture
- -11.79%
Expense Ratio
FGUSX has an expense ratio of 0.26%, which is considered low.
Return for Risk
Risk / Return Rank
FGUSX ranks 99 for risk / return — in the top 99% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Federated Hermes Government Ultrashort Fund (FGUSX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FGUSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +7.35 | ||
| Omega ratioGain probability vs. loss probability | 3.20 | 1.37 | +1.83 |
| Calmar ratioReturn relative to maximum drawdown | 15.83 | 2.78 | +13.05 |
| Martin ratioReturn relative to average drawdown | 61.36 | 12.44 | +48.92 |
Dividends
Dividend History
Federated Hermes Government Ultrashort Fund provided a 4.37% dividend yield over the last twelve months, with an annual payout of $0.43 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.43 | $0.46 | $0.45 | $0.46 | $0.03 |
Dividend yield | 4.37% | 4.66% | 4.56% | 4.70% | 0.33% |
Monthly Dividends
The table displays the monthly dividend distributions for Federated Hermes Government Ultrashort Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.17 | ||||||
| 2025 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2024 | $0.05 | $0.05 | $0.00 | $0.05 | $0.05 | $0.00 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.45 |
| 2023 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.00 | $0.05 | $0.05 | $0.46 |
| 2022 | $0.03 | $0.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Federated Hermes Government Ultrashort Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Federated Hermes Government Ultrashort Fund was 0.31%, occurring on Oct 18, 2023. Recovery took 23 trading sessions.
The current Federated Hermes Government Ultrashort Fund drawdown is 0.10%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 pullback2023 | -0.31%Oct 2023 | 16d | 1mo 3d | 1mo 19dOct 2023 - Nov 2023 |
2023 pullback2023 | -0.31%Sep 2023 | 26d | 2d | 28dSep 2023 - Sep 2023 |
2023 pullback2023 | -0.31%Aug 2023 | 14d | 15d | 29dAug 2023 - Aug 2023 |
2024 pullback2024 | -0.31%Apr 2024 | 14d | 15d | 29dApr 2024 - Apr 2024 |
2025 selloff2025 | -0.31%Apr 2025 | 4d | 19d | 23dApr 2025 - Apr 2025 |
Drawdown Indicators
| FGUSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.31% | -56.78% | +56.47% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -9.10% | +8.80% |
Max Drawdown (3Y)Largest decline over 3 years | -0.31% | -18.90% | +18.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.10% | -1.80% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -10.71% | +10.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 2.03% | -1.95% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with FGUSX
Add Federated Hermes Government Ultrashort Fund to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with FGUSX