Federated Hermes Intermediate Corporate Bond Fund
Fund
INISX
Price as of:
$8.60
- $0.02
- 0.23%
Primary Theme
fund company
Name
As of 10/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
4.6%
1 yr return
9.7%
3 Yr Avg Return
-0.2%
5 Yr Avg Return
1.3%
Net Assets
$401 M
Holdings in Top 10
8.5%
52 WEEK LOW AND HIGH
$8.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.22%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 28.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
INISX - Profile
Distributions
- YTD Total Return 4.6%
- 3 Yr Annualized Total Return -0.2%
- 5 Yr Annualized Total Return 1.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.08%
- Dividend Yield 3.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFederated Hermes Intermediate Corporate Bond Fund
-
Fund Family NameFederated Hermes Funds
-
Inception DateSep 07, 1995
-
Shares OutstandingN/A
-
Share ClassS
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBryan Dingle
Fund Description
The Fund invests in a diversified portfolio of investment-grade, fixed-income securities consisting primarily of corporate debt securities, U.S. government mortgage-backed securities, and U.S. Treasury and agency securities. The Fund’s investment adviser (the “Adviser”) seeks to enhance the Fund’s performance by allocating relatively more of its portfolio to the security type that the Adviser expects to offer the best balance between current income and risk. Some of the corporate debt securities in which the Fund invests are considered to be “foreign securities,” which are securities of issuers based outside of the United States. The foreign securities in which the Fund invests will be predominately denominated in U.S. dollars. Investment-grade securities are rated in one of the four highest categories (BBB or higher) by a nationally recognized statistical rating organization (NRSRO), or if unrated, of comparable quality as determined by the Adviser. The Fund may invest in derivative contracts (such as, for example, futures contracts) and/or hybrid instruments to implement elements of its investment strategy. For example, the Fund may use derivative contracts or hybrid instruments to increase or decrease the portfolio’s exposure to the investment(s) underlying the derivative contract or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s). There can be no assurance that the Fund’s use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund’s 80% policy (as described below) and are calculated at market value. Consistent with the Fund’s benchmark, the Fund may, from time to time, have larger allocations to certain broad market sectors in attempting to achieve its investment objective.The Fund intends to invest in the securities of U.S. government-sponsored entities (GSEs), including GSE securities that are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in GSE securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association. Finally, to a lesser extent, the Fund may invest in certain GSE securities that have no explicit financial support, but which are regarded as having implied support because the federal government sponsors their activities.Although the value of the Fund’s Shares will fluctuate, the Adviser will seek to manage the magnitude of fluctuation by limiting, under normal market conditions, the Fund’s dollar-weighted average maturity to between three and ten years and dollar-weighted average duration to between three and seven years. Maturity reflects the time until a fixed-income security becomes payable. Duration measures the price sensitivity of a fixed-income security to changes in interest rates.The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in corporate fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in corporate fixed-income investments.
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INISX - Performance
Return Ranking - Trailing
| Period | INISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.6% | 0.3% | 7.1% | 56.00% |
| 1 Yr | 9.7% | 2.2% | 20.7% | 97.14% |
| 3 Yr | -0.2%* | -9.3% | 41.5% | 10.92% |
| 5 Yr | 1.3%* | -7.2% | 25.8% | 35.19% |
| 10 Yr | 2.0%* | 0.2% | 14.4% | 79.21% |
* Annualized
Return Ranking - Calendar
| Period | INISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.3% | -5.6% | 6.3% | 98.29% |
| 2022 | -11.6% | -28.7% | 142.1% | 5.75% |
| 2021 | -4.2% | -12.3% | 4.9% | 47.37% |
| 2020 | 4.8% | -8.0% | 10.6% | 66.47% |
| 2019 | 6.5% | 4.3% | 13.4% | 94.90% |
Total Return Ranking - Trailing
| Period | INISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.6% | 0.3% | 7.1% | 56.00% |
| 1 Yr | 9.7% | 2.2% | 20.7% | 97.14% |
| 3 Yr | -0.2%* | -9.3% | 41.5% | 10.92% |
| 5 Yr | 1.3%* | -7.2% | 25.8% | 35.19% |
| 10 Yr | 2.0%* | 0.2% | 14.4% | 79.21% |
* Annualized
Total Return Ranking - Calendar
| Period | INISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.8% | -5.6% | 12.9% | 97.14% |
| 2022 | -9.8% | -25.6% | 151.8% | 6.32% |
| 2021 | -1.3% | -5.1% | 7.5% | 76.61% |
| 2020 | 7.6% | -8.0% | 116.0% | 89.82% |
| 2019 | 9.5% | 6.7% | 17.4% | 98.73% |
NAV & Total Return History
INISX - Holdings
Concentration Analysis
| INISX | Category Low | Category High | INISX % Rank | |
|---|---|---|---|---|
| Net Assets | 401 M | 4.83 M | 47.3 B | 65.14% |
| Number of Holdings | 519 | 4 | 10344 | 47.43% |
| Net Assets in Top 10 | 33.8 M | -29.6 M | 2.56 B | 70.86% |
| Weighting of Top 10 | 8.47% | 1.6% | 143.7% | 86.86% |
Top 10 Holdings
- Federated Hermes Government Obligations Fund 3.63%
- Bank of America Corp 0.60%
- Oracle Corp 0.57%
- Citigroup Inc 0.55%
- Bank of America Corp 0.55%
- Bank of America Corp 0.52%
- Truist Financial Corp 0.51%
- Amgen Inc 0.51%
- Wells Fargo Co 0.51%
- Hyundai Capital America 0.51%
Asset Allocation
| Weighting | Return Low | Return High | INISX % Rank | |
|---|---|---|---|---|
| Bonds | 95.60% | 0.00% | 136.47% | 67.43% |
| Cash | 4.29% | -43.80% | 45.89% | 28.57% |
| Other | 0.11% | -4.61% | 11.28% | 54.86% |
| Stocks | 0.00% | 0.00% | 99.97% | 41.14% |
| Preferred Stocks | 0.00% | 0.00% | 9.18% | 45.71% |
| Convertible Bonds | 0.00% | 0.00% | 78.47% | 95.43% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | INISX % Rank | |
|---|---|---|---|---|
| Corporate | 97.53% | 41.80% | 99.52% | 13.14% |
| Cash & Equivalents | 3.63% | 0.00% | 45.89% | 26.29% |
| Government | 0.95% | 0.00% | 25.63% | 81.14% |
| Derivative | 0.11% | -2.67% | 2.11% | 24.00% |
| Securitized | 0.03% | 0.00% | 23.18% | 82.29% |
| Municipal | 0.00% | 0.00% | 3.62% | 74.86% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | INISX % Rank | |
|---|---|---|---|---|
| US | 95.60% | 0.00% | 110.12% | 62.86% |
| Non US | 0.00% | 0.00% | 47.05% | 49.14% |
INISX - Expenses
Operational Fees
| INISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.22% | 0.03% | 4.56% | 20.35% |
| Management Fee | 0.44% | 0.00% | 1.35% | 70.86% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 28.95% |
| Administrative Fee | 0.10% | 0.02% | 0.45% | 56.76% |
Sales Fees
| INISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| INISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| INISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 28.00% | 0.00% | 259.00% | 17.34% |
INISX - Distributions
Dividend Yield Analysis
| INISX | Category Low | Category High | INISX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.85% | 0.00% | 6.00% | 75.43% |
Dividend Distribution Analysis
| INISX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| INISX | Category Low | Category High | INISX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.08% | 0.38% | 5.93% | 61.85% |
Capital Gain Distribution Analysis
| INISX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.028 | OrdinaryDividend |
| Aug 31, 2024 | $0.028 | OrdinaryDividend |
| Jul 31, 2024 | $0.028 | OrdinaryDividend |
| Jun 30, 2024 | $0.027 | OrdinaryDividend |
| Apr 30, 2024 | $0.028 | OrdinaryDividend |
| Mar 31, 2024 | $0.025 | OrdinaryDividend |
| Feb 29, 2024 | $0.021 | OrdinaryDividend |
| Jan 31, 2024 | $0.026 | OrdinaryDividend |
| Dec 31, 2023 | $0.032 | OrdinaryDividend |
| Nov 30, 2023 | $0.032 | OrdinaryDividend |
| Oct 31, 2023 | $0.028 | OrdinaryDividend |
| Sep 30, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.023 | OrdinaryDividend |
| Jun 30, 2023 | $0.023 | OrdinaryDividend |
| May 31, 2023 | $0.022 | OrdinaryDividend |
| Apr 28, 2023 | $0.019 | OrdinaryDividend |
| Mar 31, 2023 | $0.018 | OrdinaryDividend |
| Feb 28, 2023 | $0.017 | OrdinaryDividend |
| Jan 31, 2023 | $0.020 | OrdinaryDividend |
| Dec 31, 2022 | $0.027 | OrdinaryDividend |
| Dec 05, 2022 | $0.000 | CapitalGainLongTerm |
| Nov 30, 2022 | $0.020 | OrdinaryDividend |
| Oct 31, 2022 | $0.013 | OrdinaryDividend |
| Sep 30, 2022 | $0.013 | OrdinaryDividend |
| Aug 31, 2022 | $0.015 | OrdinaryDividend |
| Jul 29, 2022 | $0.016 | OrdinaryDividend |
| Jun 30, 2022 | $0.015 | OrdinaryDividend |
| May 31, 2022 | $0.015 | OrdinaryDividend |
| Apr 30, 2022 | $0.015 | OrdinaryDividend |
| Mar 31, 2022 | $0.014 | OrdinaryDividend |
| Feb 28, 2022 | $0.014 | OrdinaryDividend |
| Jan 31, 2022 | $0.013 | OrdinaryDividend |
| Dec 31, 2021 | $0.013 | OrdinaryDividend |
| Dec 03, 2021 | $0.024 | CapitalGainShortTerm |
| Dec 03, 2021 | $0.074 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.013 | OrdinaryDividend |
| Oct 31, 2021 | $0.013 | OrdinaryDividend |
| Sep 30, 2021 | $0.013 | OrdinaryDividend |
| Aug 31, 2021 | $0.013 | OrdinaryDividend |
| Jul 30, 2021 | $0.013 | OrdinaryDividend |
| Jun 30, 2021 | $0.013 | OrdinaryDividend |
| May 28, 2021 | $0.014 | OrdinaryDividend |
| Apr 30, 2021 | $0.015 | OrdinaryDividend |
| Mar 31, 2021 | $0.015 | OrdinaryDividend |
| Feb 26, 2021 | $0.016 | OrdinaryDividend |
| Jan 31, 2021 | $0.016 | OrdinaryDividend |
| Dec 31, 2020 | $0.017 | OrdinaryDividend |
| Dec 03, 2020 | $0.004 | CapitalGainShortTerm |
| Dec 03, 2020 | $0.012 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.017 | OrdinaryDividend |
| Oct 30, 2020 | $0.017 | OrdinaryDividend |
| Sep 30, 2020 | $0.017 | OrdinaryDividend |
| Aug 31, 2020 | $0.017 | OrdinaryDividend |
| Jul 31, 2020 | $0.018 | OrdinaryDividend |
| Jun 30, 2020 | $0.018 | OrdinaryDividend |
| May 29, 2020 | $0.019 | OrdinaryDividend |
| Apr 30, 2020 | $0.019 | OrdinaryDividend |
| Mar 31, 2020 | $0.019 | OrdinaryDividend |
| Feb 28, 2020 | $0.019 | OrdinaryDividend |
| Jan 31, 2020 | $0.019 | OrdinaryDividend |
| Dec 31, 2019 | $0.020 | OrdinaryDividend |
| Nov 29, 2019 | $0.020 | OrdinaryDividend |
| Oct 31, 2019 | $0.020 | OrdinaryDividend |
| Sep 30, 2019 | $0.020 | OrdinaryDividend |
| Aug 30, 2019 | $0.020 | OrdinaryDividend |
| Jul 31, 2019 | $0.020 | OrdinaryDividend |
| Dec 04, 2018 | $0.073 | CapitalGainLongTerm |
| Dec 04, 2017 | $0.105 | CapitalGainLongTerm |
| Dec 02, 2016 | $0.024 | CapitalGainLongTerm |
| Dec 04, 2015 | $0.011 | CapitalGainLongTerm |
| Dec 03, 2014 | $0.000 | CapitalGainShortTerm |
| Dec 03, 2014 | $0.012 | CapitalGainLongTerm |
| Dec 04, 2013 | $0.539 | CapitalGainLongTerm |
| Dec 05, 2011 | $0.108 | CapitalGainLongTerm |
INISX - Fund Manager Analysis
Managers
Bryan Dingle
Start Date
Tenure
Tenure Rank
Mar 22, 2013
9.2
9.2%
Bryan J. Dingle, CFA. Mr. Dingle joined Federated in 2006 as a Senior Investment Analyst and an Asst. Vice President of a Federated advisory subsidiary. He became a Vice President of MTB Investment Advisors in 2007. From 1997 to 2006 , he served as a Vice President and Senior Credit Analyst of Fixed Income Corporate Bond Research for MTB Investment Advisors, from 1995-1997 he was an Investment Officer and Junior Credit Analyst at MTB Investment Advisors and from 1994 to 1995 served as a Relationship Manager and Credit Analyst Trainee for M&T Bank. Mr. Dingle earned his B.S. at the University of Delaware and received his M.B.A. in Business and Management from the University of Maryland.
Brian Ruffner
Start Date
Tenure
Tenure Rank
Jun 30, 2017
4.92
4.9%
Brian S. Ruffner, has been the Fund’s portfolio manager since April of 2017. Mr. Ruffner is responsible for for providing research and advice on sector allocation and security selection. Mr. Ruffner joined Federated in 1994 in the Fund Accounting department and from 1997 to 2001 was a Trader on the Cash Management Desk. In 2001 Mr. Ruffner became an Investment Analyst and in 2004 was appointed Asst. Vice President of a Federated advisory subsidiary. He became a Senior Investment Analyst and was appointed Vice President in 2007. From 1993 through 1994 Mr. Ruffner was employed by Mellon Bank NA as Global Trade Administrator. Mr. Ruffner earned his B.S. at the Indiana University of Pennsylvania and received his M.B.A. from Duquesne University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.33 | 24.76 | 6.74 | 2.41 |