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Trending ETFs

Name

As of 06/17/2024

Price

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

$10.02

$121 M

0.00%

1.00%

Vitals

YTD Return

0.1%

1 yr return

2.9%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

0.4%

Net Assets

$121 M

Holdings in Top 10

18.6%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 11.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

Price

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

$10.02

$121 M

0.00%

1.00%

PAMFX - Profile

Distributions

  • YTD Total Return 0.1%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.27%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Federated Hermes Pennsylvania Municipal Income Fund
  • Fund Family Name
    Federated Hermes Funds
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Richard Gallo

Fund Description

The Fund pursues its objective by investing in a portfolio of tax-exempt securities so that, normally, distributions of annual interest income are exempt from federal regular income tax and the Commonwealth of Pennsylvania personal income tax. Interest income from the Fund’s investments may be subject to (or may be a specific preference item for purposes of) the federal AMT for individuals.The Fund will invest at least a majority of its assets in securities rated investment-grade (or unrated securities of comparable quality), and may purchase securities rated below investment-grade (or unrated securities of comparable quality), which are also known as junk bonds, up to 49% of its assets. Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first, second, third or fourth highest rating category) by a nationally recognized statistical rating organization (NRSRO) or unrated securities of comparable quality. For example, securities rated AAA, AA, A or BBB (including modifiers, sub-categories or gradations) by Standard & Poor’s, an NRSRO, would be rated in the first, second, third or fourth highest ratings category, respectively. Securities rated below investment-grade (or noninvestment-grade securities) are securities that do not receive investment-grade ratings (i.e., generally ratings below one of the four highest rating categories) by an NRSRO or unrated securities of comparable quality. For example, securities rated B or BB (including modifiers, sub-categories or gradations) by Standard & Poor’s, an NRSRO, would be noninvestment-grade securities. The presence of a ratings modifier, sub-category, or gradation (for example, a (+) or (-)) is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund’s investment parameters. The Fund does not have a specific minimum quality rating.The Fund does not limit itself to securities of a particular maturity range. Currently, at least a majority of the Fund’s assets will be invested in long-term securities (i.e., securities with stated maturities of 10 years or more). The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook. Duration measures the price sensitivity of a fixed-income security to changes in interest rates.The securities in which the Fund may principally invest include tax-exempt securities, which may include, for example, general obligation bonds, special revenue bonds, private activity bonds, tax-increment financing bonds, municipal leases, zero-coupon securities, inverse floaters, municipal mortgage-backed securities and planned amortization classes. Certain of the tax-exempt securities in which the Fund invests may be subject to credit enhancement.The Fund also may principally invest in derivative contracts (such as, for example, futures contracts, option contracts and swap contracts) and hybrid instruments to implement its investment strategies. 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 or hybrid instrument in an attempt to benefit from changes in the value of the underlying investment(s), to gain exposure to the municipal bond sector, to increase or decrease the effective duration of the Fund’s portfolio or to hedge against potential losses.The Fund also may invest in certain securities or other investments (such as market discount bonds, credit default swaps and other derivative transactions) that will likely cause the Fund to realize a limited amount of ordinary income or short-term capital gains (which are treated as ordinary income for federal income tax purposes). 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.Because the Fund refers to Pennsylvania municipal investments in its name, it has an investment policy that it will normally invest its assets so that at least 80% of the income that it distributes will be exempt from federal regular income tax and the Commonwealth of Pennsylvania personal income tax. This policy may not be changed without shareholder approval.
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PAMFX - Performance

Return Ranking - Trailing

Period PAMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -2.9% 17.0% 71.35%
1 Yr 2.9% -1.4% 29.0% 74.84%
3 Yr -1.6%* -11.1% 2.9% 70.30%
5 Yr 0.4%* -6.3% 1102.2% 70.12%
10 Yr 1.8%* -0.6% 248.4% 45.26%

* Annualized

Return Ranking - Calendar

Period PAMFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.5% -1.4% 41.0% 58.89%
2022 -11.3% -39.7% 0.3% 47.49%
2021 -0.5% -5.6% 6.9% 50.53%
2020 1.7% -2.6% 310.0% 48.47%
2019 3.2% 0.0% 26.0% 73.60%

Total Return Ranking - Trailing

Period PAMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.1% -2.9% 17.0% 71.35%
1 Yr 2.9% -1.4% 29.0% 74.84%
3 Yr -1.6%* -11.1% 2.9% 70.30%
5 Yr 0.4%* -6.3% 1102.2% 70.12%
10 Yr 1.8%* -0.6% 248.4% 45.26%

* Annualized

Total Return Ranking - Calendar

Period PAMFX Return Category Return Low Category Return High Rank in Category (%)
2023 5.0% -1.3% 41.0% 66.78%
2022 -9.2% -39.7% 1.1% 49.34%
2021 1.6% -4.8% 23761504.0% 48.07%
2020 3.1% -1.5% 17057.9% 72.13%
2019 6.5% 0.2% 3514.6% 49.58%

NAV & Total Return History


PAMFX - Holdings

Concentration Analysis

PAMFX Category Low Category High PAMFX % Rank
Net Assets 121 M 3.22 M 71.9 B 82.77%
Number of Holdings 106 2 13067 83.24%
Net Assets in Top 10 22.3 M -317 M 3.56 B 84.99%
Weighting of Top 10 18.57% 2.0% 100.2% 48.44%

Top 10 Holdings

  1. COMMONWEALTH FINANCING AUTHORITY 2.52%
  2. Pennsylvania Turnpike Commission 2.05%
  3. GEISINGER AUTHORITY 1.89%
  4. Delaware County Industrial Development Authority/PA 1.79%
  5. COMMONWEALTH OF PENNSYLVANIA 1.76%
  6. Pennsylvania Turnpike Commission 1.75%
  7. COUNTY OF ALLEGHENY PA 1.73%
  8. Allegheny County Hospital Development Authority 1.71%
  9. ALLEGHENY COUNTY SANITARY AUTHORITY 1.69%
  10. CITY OF PHILADELPHIA PA AIRPORT REVENUE 1.69%

Asset Allocation

Weighting Return Low Return High PAMFX % Rank
Bonds
100.54% 0.00% 150.86% 11.10%
Stocks
0.00% 0.00% 99.81% 83.83%
Preferred Stocks
0.00% 0.00% 0.56% 82.39%
Other
0.00% -3.18% 33.35% 79.21%
Convertible Bonds
0.00% 0.00% 0.93% 82.45%
Cash
0.00% -50.86% 46.80% 96.82%

Bond Sector Breakdown

Weighting Return Low Return High PAMFX % Rank
Municipal
100.00% 44.39% 100.00% 7.70%
Derivative
0.00% -3.18% 19.67% 78.23%
Cash & Equivalents
0.00% 0.00% 46.24% 93.11%
Securitized
0.00% 0.00% 5.93% 82.52%
Corporate
0.00% 0.00% 9.41% 83.89%
Government
0.00% 0.00% 52.02% 84.54%

Bond Geographic Breakdown

Weighting Return Low Return High PAMFX % Rank
US
100.54% 0.00% 142.23% 10.59%
Non US
0.00% 0.00% 23.89% 84.60%

PAMFX - Expenses

Operational Fees

PAMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.01% 20.65% 30.17%
Management Fee 0.40% 0.00% 1.20% 43.31%
12b-1 Fee 0.00% 0.00% 1.00% 14.00%
Administrative Fee 0.10% 0.01% 0.44% 43.09%

Sales Fees

PAMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.50% 4.75% 9.07%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

PAMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

PAMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 0.00% 283.00% 27.07%

PAMFX - Distributions

Dividend Yield Analysis

PAMFX Category Low Category High PAMFX % Rank
Dividend Yield 0.00% 0.00% 14.51% 50.78%

Dividend Distribution Analysis

PAMFX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PAMFX Category Low Category High PAMFX % Rank
Net Income Ratio 2.27% -0.53% 5.33% 31.69%

Capital Gain Distribution Analysis

PAMFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

PAMFX - Fund Manager Analysis

Managers

Richard Gallo


Start Date

Tenure

Tenure Rank

Oct 31, 2017

4.58

4.6%

R.J. Gallo, Senior Portfolio Manager and Head of the Municipal Bond Investment Group, has been the Fund's Portfolio Manager since April of 2010. Mr. Gallo joined Federated in 2000 as an Investment Analyst. He became a Senior Vice President of the Fund's Adviser in 2011. From 2005 to 2010 Mr. Gallo served as Vice President and from January 2002 through 2004 and as an Assistant Vice President of the Fund's Adviser. He has been a Portfolio Manager since December 2002. From 1996 to 2000, Mr. Gallo was a Financial Analyst and Trader at the Federal Reserve Bank of New York. Mr. Gallo has received the Chartered Financial Analyst designation and a Master's in Public Affairs with a concentration in Economics and Public Policy from Princeton University.

Lee Cunningham


Start Date

Tenure

Tenure Rank

Apr 04, 2022

0.16

0.2%

Lee R. Cunningham II is Vice President of the Trust with respect to the Fund. Mr. Cunningham joined Federated in 1995 as an Investment Analyst and has been a Portfolio Manager since 1998. He was named an Assistant Vice President of Federated Investors in January 1998 and became a Vice President of Federated Investors in July 2000. From 1986 through 1994, Mr. Cunningham was a Project Engineer with Pennsylvania Power and Light Company. Mr. Cunningham received his M.B.A. with concentrations in Finance and Operations from the University of Pittsburgh.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58