Federated Hermes Municipal Ultra Short Fund (FMUSX) 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 FMUSX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FMUSX
FMUSX charges 0.36% annually. There are 66 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | FMUSX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | FMUSX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | FMUSX vs FHMIX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | FMUSX vs VTMFX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | FMUSX vs FSMUX |
Best Risk-Adjusted Alternatives to FMUSX
FMUSX has a PortfoliosLab risk / return rank of 93. There are 20 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 100 | — | Dec 2002 | FMUSX vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | FMUSX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | FMUSX vs DFABX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | FMUSX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | FMUSX vs TFCYX |
Top Performing FMUSX Alternatives (YTD)
FMUSX is at 0.75% YTD. There are 118 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.94%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.94% | — | Apr 1998 | FMUSX vs NMI | |
| BlackRock MuniYield Michigan Quality Fund | 7.21% | — | Oct 1992 | FMUSX vs MIY | |
| Nuveen New York AMT Free Quality Municipal Income | 7.15% | — | Nov 2002 | FMUSX vs NRK | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 4.40% | 12.30B | Sep 1994 | FMUSX vs VTMFX | |
| AllianceBernstein National Municipal Income Fund | 3.80% | — | Nov 2001 | FMUSX vs AFB |
Lowest Volatility Alternatives to FMUSX
FMUSX has 0.96% 1-year volatility. There are 13 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 | FMUSX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | FMUSX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | FMUSX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.63% | — | May 2016 | FMUSX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.65% | — | May 2016 | FMUSX vs USMTX |
Lowest Drawdown Alternatives to FMUSX
FMUSX has a 1-year max drawdown of -0.40%. There are 12 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | FMUSX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | FMUSX vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | FMUSX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | FMUSX vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | -0.11% | — | Aug 2002 | FMUSX vs DFSMX |
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 | 94 | 15.85% | — | Mar 2005 | FMUSX vs SVAIX | |
| Federated Hermes MDT Large Cap Growth Fund | Large Cap Growth Equities | 16 | 2.55% | — | Sep 2005 | FMUSX vs QILGX | |
| Federated Hermes MDT Market Neutral A | Long-Short | 54 | 4.61% | — | Sep 2008 | FMUSX vs QAMNX | |
| Federated Hermes MDT All Cap Core Fund | Large Cap Blend Equities | 53 | 8.33% | — | Oct 2002 | FMUSX vs QIACX | |
| Federated Hermes Kaufmann Fd | Mid Cap Growth Equities | 14 | 8.01% | — | Feb 1986 | FMUSX vs KAUFX | |
| Federated Hermes High-Yield Strategy Portfolio | High Yield Bonds | 74 | 0.96% | — | Dec 2008 | FMUSX vs FHYSX | |
| Federated Hermes MDT Mid Cap Growth Fund | Mid Cap Growth Equities | 4 | -0.82% | — | Aug 1984 | FMUSX vs FGSAX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | High Yield Bonds | 59 | 1.32% | — | Aug 1984 | FMUSX vs FHYTX | |
| Federated Hermes Institutional High Yield Bond Fun... | High Yield Bonds | 64 | 0.85% | — | Nov 2002 | FMUSX vs FIHBX | |
| Federated Hermes Prudent Bear Fd | Inverse Equities | 0 | -6.07% | — | Dec 1995 | FMUSX vs BEARX |
Often Compared With FMUSX
Investors most often compare FMUSX with FHIIX, POVSX, FIDAX. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare FMUSX with Any Fund or Stock
Compare FMUSX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FMUSX with funds that move differently
Federated Hermes Municipal Ultra Short Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMUSX.
Explore FMUSX Diversifiers