Federated Hermes Institutional High Yield Bond Fund (FIHBX)
The fund invests primarily in a diversified portfolio of high yield corporate bonds (also known as "junk bonds"), which include debt securities issued by U.S. or foreign businesses (including emerging market debt securities). The Adviser does not limit the fund's investments to securities of a particular maturity range. The fund may invest in derivative contracts (for example, futures contracts, option contracts and swap contracts) to implement its investment strategies.
Fund Info
US31420B3006
31420B300
Nov 1, 2002
$1,000,000
Expense Ratio
FIHBX features an expense ratio of 0.50%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Federated Hermes Institutional High Yield Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Federated Hermes Institutional High Yield Bond Fund had a return of 1.15% year-to-date (YTD) and 8.57% in the last 12 months. Over the past 10 years, Federated Hermes Institutional High Yield Bond Fund had an annualized return of 4.70%, while the S&P 500 had an annualized return of 11.26%, indicating that Federated Hermes Institutional High Yield Bond Fund did not perform as well as the benchmark.
FIHBX
1.15%
0.47%
3.33%
8.57%
3.57%
4.70%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of FIHBX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.27% | 1.15% | |||||||||||
| 2024 | 0.51% | -0.24% | 0.69% | -0.63% | 1.08% | 0.46% | 2.26% | 0.90% | 2.12% | -0.81% | 0.45% | 0.06% | 7.02% |
| 2023 | 4.40% | -1.36% | 1.11% | 0.59% | -0.77% | 1.70% | 1.68% | 0.38% | -1.75% | -0.88% | 4.55% | 3.03% | 13.15% |
| 2022 | -2.50% | -0.90% | -0.81% | -4.26% | 0.73% | -6.56% | 5.16% | -2.16% | -4.27% | 3.18% | 1.71% | -1.31% | -11.88% |
| 2021 | -0.30% | 0.42% | 0.65% | 0.93% | -0.20% | 1.87% | -0.20% | 0.94% | 0.02% | -0.90% | -0.45% | 1.96% | 4.81% |
| 2020 | -0.14% | -1.77% | -10.40% | 4.24% | 4.74% | 0.34% | 4.53% | 0.84% | -1.02% | 0.42% | 3.37% | 1.65% | 5.99% |
| 2019 | 5.02% | 1.77% | 0.81% | 1.42% | -1.32% | 2.36% | 0.49% | 0.29% | 0.60% | 0.28% | 0.18% | 2.33% | 15.02% |
| 2018 | 0.45% | -0.94% | -0.74% | 0.48% | 0.07% | 0.28% | 1.13% | 0.72% | 0.51% | -1.55% | -0.65% | -2.55% | -2.80% |
| 2017 | 1.28% | 1.68% | -0.24% | 1.07% | 1.06% | 0.15% | 1.15% | -0.12% | 0.85% | 0.06% | -0.23% | 0.26% | 7.20% |
| 2016 | -1.01% | 0.88% | 3.77% | 3.11% | 0.50% | 0.81% | 2.49% | 2.03% | 0.58% | -0.03% | -0.53% | 1.72% | 15.14% |
| 2015 | 0.91% | 2.12% | -0.21% | 0.89% | 0.39% | -1.30% | 0.19% | -1.34% | -2.30% | 2.97% | -2.30% | -2.15% | -2.27% |
| 2014 | 0.72% | 1.99% | 0.32% | 0.50% | 0.70% | 0.79% | -1.61% | 1.89% | -2.10% | 1.70% | -0.48% | -1.48% | 2.87% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 93, FIHBX is among the top 7% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Federated Hermes Institutional High Yield Bond Fund (FIHBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Federated Hermes Institutional High Yield Bond Fund provided a 5.88% dividend yield over the last twelve months, with an annual payout of $0.52 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.52 | $0.53 | $0.52 | $0.50 | $0.51 | $0.51 | $0.58 | $0.57 | $0.56 | $0.57 | $0.59 | $0.62 |
Dividend yield | 5.88% | 5.94% | 5.92% | 6.04% | 5.10% | 5.14% | 5.80% | 6.24% | 5.56% | 5.76% | 6.45% | 6.32% |
Monthly Dividends
The table displays the monthly dividend distributions for Federated Hermes Institutional High Yield Bond 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.04 | $0.00 | $0.04 | ||||||||||
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.53 |
| 2023 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.52 |
| 2022 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.50 |
| 2021 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.51 |
| 2020 | $0.05 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.51 |
| 2019 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.58 |
| 2018 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.57 |
| 2017 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.56 |
| 2016 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.57 |
| 2015 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.59 |
| 2014 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.62 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Federated Hermes Institutional High Yield Bond 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 Institutional High Yield Bond Fund was 31.43%, occurring on Dec 12, 2008. Recovery took 158 trading sessions.
The current Federated Hermes Institutional High Yield Bond Fund drawdown is 0.22%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -31.43% | Oct 16, 2007 | 293 | Dec 12, 2008 | 158 | Jul 31, 2009 | 451 |
| -21.67% | Feb 18, 2020 | 25 | Mar 23, 2020 | 91 | Jul 31, 2020 | 116 |
| -15.52% | Jan 3, 2022 | 189 | Sep 29, 2022 | 339 | Jan 31, 2024 | 528 |
| -10.33% | Jun 2, 2015 | 177 | Feb 11, 2016 | 54 | Apr 29, 2016 | 231 |
| -9.71% | Nov 8, 2004 | 132 | May 17, 2005 | 345 | Sep 29, 2006 | 477 |
Volatility
Volatility Chart
The current Federated Hermes Institutional High Yield Bond Fund volatility is 0.73%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.