Federated Hermes Adjustable Rate Fund Institutional Shares (FEUNX)
| Fund Assets | 378.94M |
| Expense Ratio | 0.31% |
| Min. Investment | $1,000,000 |
| Turnover | 44.00% |
| Dividend (ttm) | 0.45 |
| Dividend Yield | 4.74% |
| Dividend Growth | -12.45% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jan 30, 2026 |
| Previous Close | 9.42 |
| YTD Return | 0.80% |
| 1-Year Return | 6.02% |
| 5-Year Return | 16.66% |
| 52-Week Low | 8.89 |
| 52-Week High | 9.42 |
| Beta (5Y) | n/a |
| Holdings | 210 |
| Inception Date | Aug 2, 2019 |
About FEUNX
Federated Hermes Adjustable Rate Fund Institutional Shares is an open-end mutual fund designed to deliver current income with limited principal volatility by investing primarily in adjustable-rate and floating-rate U.S. government and agency mortgage-backed securities. The strategy emphasizes securities whose coupons reset frequently, helping reduce interest-rate sensitivity and maintain a short effective duration profile typical of the short government category. The portfolio is broadly diversified across agency issuers such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, and Government National Mortgage Association, with holdings concentrated in securitized mortgage structures tied to U.S. housing finance. Managed by Federated Hermes, the fund benchmarks to a 1-year U.S. Treasury index and distributes income monthly. It targets institutional investors through a high minimum investment and a low expense structure relative to peers. Within the fixed income landscape, the fund serves as a cash-plus or capital-preservation building block, aiming to provide a steady income stream while mitigating rate risk through its floating-rate focus and government/agency credit profile.
Performance
FEUNX had a total return of 6.02% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.00%.
Other Share Classes
These are alternative share classes of the same fund, from the same provider.
| Symbol | Share Class | Expense Ratio |
|---|---|---|
| FEUGX | Class A Shares | 0.56% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jan 30, 2026 | $0.03469 | Jan 30, 2026 |
| Dec 31, 2025 | $0.03576 | Dec 31, 2025 |
| Nov 28, 2025 | $0.03685 | Nov 28, 2025 |
| Oct 31, 2025 | $0.03826 | Oct 31, 2025 |
| Sep 30, 2025 | $0.03787 | Sep 30, 2025 |
| Aug 29, 2025 | $0.03739 | Aug 29, 2025 |