Federated Hermes Conservative Municipal Microshort Fund (FHMIX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FHMIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FHMIX
FHMIX charges 0.05% annually. There is 1 mutual fund in the Municipal Bonds category with a lower expense ratio, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | FHMIX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FHMIX vs NMTRX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FHMIX vs VTMFX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FHMIX vs FSMUX | |
| Vanguard Tax-Exempt Bond Index Fund Admiral Shares | 0.07% | 48.80B | Aug 2015 | FHMIX vs VTEAX |
Best Risk-Adjusted Alternatives to FHMIX
FHMIX has a PortfoliosLab risk / return rank of 99. There are 3 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | FHMIX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 100 | — | Dec 2002 | FHMIX vs ATOIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 99 | — | Apr 2022 | FHMIX vs DFABX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | FHMIX vs TFCYX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | FHMIX vs DNYMX |
Top Performing FHMIX Alternatives (YTD)
FHMIX is at 1.33% YTD. There are 20 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 10.88%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 10.88% | — | Apr 1998 | FHMIX vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 6.63% | — | Nov 2002 | FHMIX vs NRK | |
| BlackRock MuniYield Michigan Quality Fund | 5.90% | — | Oct 1992 | FHMIX vs MIY | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 4.67% | 12.30B | Sep 1994 | FHMIX vs VTMFX | |
| BlackRock MuniHoldings New Jersey Quality Fund | 3.83% | — | Mar 1998 | FHMIX vs MUJ |
Lowest Volatility Alternatives to FHMIX
FHMIX has 0.86% 1-year volatility. There are 9 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.54% | — | Aug 2002 | FHMIX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.57% | — | Apr 2022 | FHMIX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FHMIX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.63% | — | May 2016 | FHMIX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.65% | — | May 2016 | FHMIX vs USMTX |
Lowest Drawdown Alternatives to FHMIX
FHMIX has a 1-year max drawdown of -0.10%. There is 1 mutual fund in the Municipal Bonds category with a shallower 1-year drawdown, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | FHMIX vs BATVX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FHMIX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FHMIX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | -0.11% | — | Aug 2002 | FHMIX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | -0.11% | — | Apr 2022 | FHMIX vs DFABX |
Other Mutual Funds from Federated
The 10 most viewed Federated mutual funds shown here include SVAIX, QILGX, QAMNX and span 7 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | Large Cap Value Equities | 95 | 15.54% | — | Mar 2005 | FHMIX vs SVAIX | |
| Federated Hermes MDT Large Cap Growth Fund | Large Cap Growth Equities | 13 | 2.79% | — | Sep 2005 | FHMIX vs QILGX | |
| Federated Hermes MDT Market Neutral A | Long-Short | 43 | 4.89% | — | Sep 2008 | FHMIX vs QAMNX | |
| Federated Hermes MDT All Cap Core Fund | Large Cap Blend Equities | 46 | 8.82% | — | Oct 2002 | FHMIX vs QIACX | |
| Federated Hermes Kaufmann Fd | Mid Cap Growth Equities | 12 | 8.01% | — | Feb 1986 | FHMIX vs KAUFX | |
| Federated Hermes High-Yield Strategy Portfolio | High Yield Bonds | 60 | 0.87% | — | Dec 2008 | FHMIX vs FHYSX | |
| Federated Hermes MDT Mid Cap Growth Fund | Mid Cap Growth Equities | 3 | -0.99% | — | Aug 1984 | FHMIX vs FGSAX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | High Yield Bonds | 45 | 1.32% | — | Aug 1984 | FHMIX vs FHYTX | |
| Federated Hermes Institutional High Yield Bond Fun... | High Yield Bonds | 49 | 0.74% | — | Nov 2002 | FHMIX vs FIHBX | |
| Federated Hermes Prudent Bear Fd | Inverse Equities | 0 | -6.86% | — | Dec 1995 | FHMIX vs BEARX |
Often Compared With FHMIX
Investors most often compare FHMIX with FOHFX, FJMNX, MYI. These 20 comparison targets span 4 categories, based on PortfoliosLab usage data.
Compare FHMIX with Any Fund or Stock
Compare FHMIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FHMIX with funds that move differently
Federated Hermes Conservative Municipal Microshort Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FHMIX.
Explore FHMIX Diversifiers