FMN vs. USA
FMN (Federated Hermes Premier Municipal Income Fund) and USA (Liberty All-Star Equity Fund) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, FMN returned 0.92%/yr vs 12.16%/yr for USA. At a 0.12 correlation, their price movements are largely independent.
Performance
FMN vs. USA - Performance Comparison
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Returns By Period
In the year-to-date period, FMN achieves a 5.49% return, which is significantly higher than USA's -2.46% return. Over the past 10 years, FMN has underperformed USA with an annualized return of 0.92%, while USA has yielded a comparatively higher 12.16% annualized return.
FMN
- 1D
- -0.09%
- 1M
- 2.09%
- 6M
- 5.49%
- YTD
- 5.49%
- 1Y
- 12.49%
- 3Y*
- 7.19%
- 5Y*
- -1.95%
- 10Y*
- 0.92%
USA
- 1D
- -0.34%
- 1M
- -0.85%
- 6M
- -2.46%
- YTD
- -2.46%
- 1Y
- -6.26%
- 3Y*
- 6.78%
- 5Y*
- 1.49%
- 10Y*
- 12.16%
FMN vs. USA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMN Federated Hermes Premier Municipal Income Fund | 5.49% | 6.78% | 3.21% | 9.21% | -26.70% | 5.96% | 9.78% | 20.25% | -7.94% | 5.77% |
USA Liberty All-Star Equity Fund | -2.46% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
Correlation
The correlation between FMN and USA is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2002 | 0.12 |
The correlation between FMN and USA shifts across timeframes, from 0.12 (all time) to 0.27 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
FMN:
$89.45M
USA:
$1.79B
FMN:
$1.65
USA:
$1.40
FMN:
6.92
USA:
4.13
FMN:
5.18
USA:
4.92
FMN:
0.91
USA:
0.85
FMN:
$17.27M
USA:
$355.74M
FMN:
$15.26M
USA:
$329.90M
FMN:
$8.52M
USA:
$305.11M
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Return for Risk
FMN vs. USA — Risk / Return Rank
FMN
USA
FMN vs. USA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Premier Municipal Income Fund (FMN) and Liberty All-Star Equity Fund (USA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| FMN | USA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +3.23 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.94 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | -0.41 | +2.51 |
| Martin ratioReturn relative to average drawdown | 8.95 | -0.94 | +9.90 |
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Drawdowns
FMN vs. USA - Drawdown Comparison
The maximum FMN drawdown since its inception was -49.01%, smaller than the maximum USA drawdown of -69.15%. Use the drawdown chart below to compare losses from any high point for FMN and USA.
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Drawdown Indicators
| FMN | USA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.01% | -69.15% | +20.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -15.28% | +9.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.30% | -17.69% | +1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -40.63% | -34.05% | -6.58% |
Max Drawdown (10Y)Largest decline over 10 years | -40.63% | -47.07% | +6.44% |
Current DrawdownCurrent decline from peak | -16.17% | -7.69% | -8.48% |
Average DrawdownAverage peak-to-trough decline | -10.45% | -11.51% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 6.64% | -5.24% |
Volatility
FMN vs. USA - Volatility Comparison
The current volatility for Federated Hermes Premier Municipal Income Fund (FMN) is 1.64%, while Liberty All-Star Equity Fund (USA) has a volatility of 4.84%. This indicates that FMN experiences smaller price fluctuations and is considered to be less risky than USA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMN | USA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 4.84% | -3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | 10.78% | -4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.48% | 13.91% | -6.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.24% | 20.24% | -9.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 22.55% | -9.41% |
Dividends
FMN vs. USA - Dividend Comparison
FMN's dividend yield for the trailing twelve months is around 4.72%, less than USA's 11.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMN Federated Hermes Premier Municipal Income Fund | 4.72% | 4.64% | 4.06% | 4.03% | 5.30% | 4.31% | 4.16% | 4.40% | 5.57% | 5.21% | 6.07% | 5.92% |
USA Liberty All-Star Equity Fund | 11.72% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Financials
FMN vs. USA - Financials Comparison
This section allows you to compare key financial metrics between Federated Hermes Premier Municipal Income Fund and Liberty All-Star Equity Fund. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
FMN and USA have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (4.84%) compared to FMN (1.64%). In terms of maximum drawdown, FMN dropped -49.01% vs USA's -69.15%.
FMN currently has the higher Sharpe Ratio (1.68 vs -0.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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