- ISIN
- US31420C8376
- CUSIP
- 31420C837
- Issuer
- Federated
- Inception Date
- Sep 25, 2003
- Category
- Diversified Portfolio
- Min. Investment
- $1,500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
FMUAX Performance Chart
Federated Hermes Municipal and Stock Advantage Fund (FMUAX) is up 6.1% since the beginning of the year. FMUAX is currently trading at $17 per share. Investors who bought $1,000 worth of FMUAX shares 5 years ago would now be looking at an investment worth $1,282.
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Returns By Period
Federated Hermes Municipal and Stock Advantage Fund (FMUAX) has returned 6.13% so far this year and 16.49% over the past 12 months. Over the last ten years, FMUAX has returned 6.17% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Federated Hermes Municipal and Stock Advantage Fund
- 1D
- 0.42%
- 1M
- 2.13%
- YTD
- 6.13%
- 6M
- 6.19%
- 1Y
- 16.49%
- 3Y*
- 9.79%
- 5Y*
- 5.10%
- 10Y*
- 6.17%
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%
FMUAX Monthly Returns History
Based on dividend-adjusted daily data since Sep 24, 2003, FMUAX's average daily return is +0.02%, while the average monthly return is +0.51%. At this rate, an investment would double in approximately 11.4 years.
Historically, 65% of months were positive and 35% were negative. The best month was Nov 2023 with a return of +7.5%, while the worst month was Mar 2020 at -8.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FMUAX closed higher 50% of trading days. The best single day was Mar 24, 2020 with a return of +4.4%, while the worst single day was Mar 12, 2020 at -5.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.48% | 0.50% | -3.34% | 4.89% | 1.79% | 0.84% | 6.13% | ||||||
| 2025 | 2.51% | -2.12% | -2.22% | -1.32% | 1.72% | 2.63% | 0.85% | 1.80% | 2.25% | 1.55% | 0.81% | 0.35% | 9.00% |
| 2024 | 0.46% | 1.68% | 1.90% | -2.18% | 0.97% | 2.21% | 1.43% | 1.18% | 1.17% | -1.36% | 3.19% | -2.12% | 8.70% |
| 2023 | 3.46% | -2.76% | 1.88% | 0.62% | -1.18% | 2.70% | 1.28% | -1.63% | -3.52% | -1.64% | 7.45% | 3.29% | 9.81% |
| 2022 | -2.57% | -1.20% | -0.40% | -4.51% | 1.34% | -4.70% | 4.13% | -2.70% | -5.65% | 2.66% | 5.07% | -2.02% | -10.68% |
| 2021 | -0.32% | 1.87% | 2.16% | 2.41% | 1.22% | 0.00% | 0.44% | 0.65% | -1.71% | 2.13% | -0.82% | 1.95% | 10.32% |
Benchmark Metrics
Federated Hermes Municipal and Stock Advantage Fund has an annualized alpha of 2.62%, beta of 0.35, and R2 of 0.79 versus S&P 500 Index. Calculated based on daily prices since September 24, 2003.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (43.96%) than losses (42.99%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.62% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.35 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.62%
- Beta
- 0.35
- R²
- 0.79
- Upside Capture
- 43.96%
- Downside Capture
- 42.99%
Expense Ratio
FMUAX has a high expense ratio of 1.00%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FMUAX ranks 94 for risk / return — in the top 94% 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 Municipal and Stock Advantage Fund (FMUAX) 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.
| FMUAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.37 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.16 | 2.78 | +1.37 |
| Martin ratioReturn relative to average drawdown | 19.98 | 12.44 | +7.54 |
Dividends
Dividend History
Federated Hermes Municipal and Stock Advantage Fund provided a 1.24% dividend yield over the last twelve months, with an annual payout of $0.21 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.21 | $0.20 | $0.30 | $0.35 | $0.29 | $0.68 | $0.30 | $0.53 | $0.96 | $0.30 | $0.30 | $0.34 |
Dividend yield | 1.24% | 1.23% | 2.01% | 2.53% | 2.25% | 4.56% | 2.12% | 4.00% | 7.98% | 2.17% | 2.36% | 2.80% |
Monthly Dividends
The table displays the monthly dividend distributions for Federated Hermes Municipal and Stock Advantage 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 | $0.02 | $0.00 | $0.00 | $0.02 | $0.03 | $0.00 | $0.08 | ||||||
| 2025 | $0.00 | $0.00 | $0.02 | $0.02 | $0.02 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.20 |
| 2024 | $0.01 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.06 | $0.30 |
| 2023 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.04 | $0.07 | $0.35 |
| 2022 | $0.01 | $0.03 | $0.02 | $0.01 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.05 | $0.29 |
| 2021 | $0.01 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.06 | $0.02 | $0.01 | $0.03 | $0.41 | $0.68 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Federated Hermes Municipal and Stock Advantage 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 Municipal and Stock Advantage Fund was 22.43%, occurring on Mar 9, 2009. Recovery took 277 trading sessions.
The current Federated Hermes Municipal and Stock Advantage Fund drawdown is 0.12%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -22.43%Mar 2009 | 1y 9mo | 1y 1mo | 2y 10moMay 2007 - Apr 2010 |
COVID crash2020 | -21.46%Mar 2020 | 1mo 2d | 5mo 8d | 6mo 10dFeb 2020 - Aug 2020 |
Bear market2022 | -15.93%Sep 2022 | 8mo 28d | 1y 5mo | 2y 2moJan 2022 - Mar 2024 |
2025 selloff2025 | -10.18%Apr 2025 | 2mo 4d | 4mo 6d | 6mo 10dFeb 2025 - Aug 2025 |
Rate-hike selloffLate 2018 | -10.15%Dec 2018 | 10mo 29d | 4mo 2d | 1y 2moJan 2018 - Apr 2019 |
Drawdown Indicators
| FMUAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.43% | -56.78% | +34.35% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -9.10% | +4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -10.18% | -18.90% | +8.72% |
Max Drawdown (5Y)Largest decline over 5 years | -15.93% | -25.43% | +9.50% |
Max Drawdown (10Y)Largest decline over 10 years | -21.46% | -33.92% | +12.46% |
Current DrawdownCurrent decline from peak | -0.12% | -1.80% | +1.68% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -10.71% | +7.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 2.03% | -1.07% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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