Federated Hermes Municipal Ultra Short Fund (FMUSX)
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.
Fund Info
US31417P8582
31417P858
Oct 23, 2000
$1,000,000
Expense Ratio
FMUSX features an expense ratio of 0.36%, 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 Municipal Ultra Short 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 Municipal Ultra Short Fund had a return of 0.35% year-to-date (YTD) and 3.75% in the last 12 months. Over the past 10 years, Federated Hermes Municipal Ultra Short Fund had an annualized return of 1.43%, while the S&P 500 had an annualized return of 11.29%, indicating that Federated Hermes Municipal Ultra Short Fund did not perform as well as the benchmark.
FMUSX
0.35%
0.35%
1.50%
3.75%
1.69%
1.43%
^GSPC (Benchmark)
4.22%
2.22%
9.51%
22.46%
12.74%
11.29%
Monthly Returns
The table below presents the monthly returns of FMUSX, 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 | 0.35% | 0.35% | |||||||||||
| 2024 | 0.44% | 0.25% | 0.00% | 0.44% | 0.27% | 0.20% | 0.83% | 0.30% | 0.65% | -0.03% | 0.10% | 0.32% | 3.84% |
| 2023 | 0.73% | 0.01% | 0.43% | -0.10% | 0.48% | 0.35% | 0.25% | 0.27% | -0.30% | 0.56% | 0.88% | 0.30% | 3.92% |
| 2022 | -0.48% | -0.08% | -0.36% | -0.36% | 0.31% | -0.13% | 0.20% | 0.01% | -0.27% | 0.08% | 0.57% | 0.00% | -0.52% |
| 2021 | 0.14% | -0.16% | 0.06% | 0.13% | 0.03% | 0.06% | 0.13% | -0.05% | -0.08% | -0.10% | 0.04% | 0.02% | 0.22% |
| 2020 | 0.21% | 0.20% | -0.95% | -0.30% | 0.69% | 0.37% | 0.37% | 0.16% | 0.05% | 0.04% | 0.14% | 0.14% | 1.11% |
| 2019 | 0.25% | 0.14% | 0.25% | 0.05% | 0.25% | 0.24% | 0.24% | 0.23% | -0.08% | 0.23% | 0.11% | 0.22% | 2.15% |
| 2018 | 0.12% | 0.10% | 0.12% | 0.04% | 0.23% | 0.22% | 0.12% | 0.04% | 0.03% | 0.15% | 0.15% | 0.15% | 1.48% |
| 2017 | 0.18% | 0.07% | 0.08% | 0.09% | 0.19% | 0.09% | 0.09% | 0.19% | 0.09% | 0.09% | -0.11% | 0.11% | 1.17% |
| 2016 | 0.06% | -0.05% | 0.06% | 0.07% | 0.07% | 0.17% | 0.17% | -0.03% | 0.07% | 0.08% | -0.03% | 0.08% | 0.72% |
| 2015 | 0.15% | -0.06% | -0.05% | 0.05% | -0.15% | -0.05% | 0.05% | 0.05% | 0.05% | 0.05% | -0.05% | 0.05% | 0.09% |
| 2014 | 0.16% | 0.16% | -0.04% | 0.06% | 0.16% | -0.04% | 0.06% | 0.16% | 0.05% | 0.05% | -0.05% | 0.05% | 0.78% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 97, FMUSX is among the top 3% 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 Municipal Ultra Short Fund (FMUSX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Federated Hermes Municipal Ultra Short Fund provided a 3.17% dividend yield over the last twelve months, with an annual payout of $0.32 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.32 | $0.30 | $0.12 | $0.04 | $0.09 | $0.16 | $0.16 | $0.11 | $0.08 | $0.06 | $0.07 |
Dividend yield | 3.17% | 3.18% | 2.98% | 1.21% | 0.41% | 0.90% | 1.63% | 1.57% | 1.06% | 0.82% | 0.59% | 0.68% |
Monthly Dividends
The table displays the monthly dividend distributions for Federated Hermes Municipal Ultra Short 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 | $0.03 | $0.00 | $0.03 | ||||||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.12 |
| 2021 | $0.01 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.09 |
| 2019 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.16 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.16 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2015 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.06 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.07 |
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 Municipal Ultra Short 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 Ultra Short Fund was 2.48%, occurring on Mar 20, 2020. Recovery took 92 trading sessions.
The current Federated Hermes Municipal Ultra Short Fund drawdown is 0.10%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -2.48% | Mar 10, 2020 | 9 | Mar 20, 2020 | 92 | Jul 31, 2020 | 101 |
| -1.56% | Aug 6, 2021 | 311 | Oct 25, 2022 | 67 | Jan 31, 2023 | 378 |
| -0.68% | Sep 16, 2008 | 21 | Oct 14, 2008 | 13 | Oct 31, 2008 | 34 |
| -0.51% | Jan 18, 2002 | 1 | Jan 18, 2002 | 8 | Jan 31, 2002 | 9 |
| -0.5% | Apr 2, 2003 | 1 | Apr 2, 2003 | 19 | Apr 30, 2003 | 20 |
Volatility
Volatility Chart
The current Federated Hermes Municipal Ultra Short Fund volatility is 0.30%, 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.