FIHBX Performance — Federated Hermes Institutional High Yield Bond Fund, Institutional Shares
Data updated: 2026-09-23
FIHBX returned +1.23% year to date and +4.51% over one year to Jul 2026. Annualised returns are +7.34% over 3 years and +3.44% over 5 years. Against its High Yield Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $124, against $123 for the category, and to $105 over one year, against $105. Volatility over the past three years was 4.28% a year. In the 12 months to Jul 2026 the fund lost a net $2.2B, and assets reached $4.68B.
FIHBX Growth of $100
What $100 invested in Federated Hermes Institutional High Yield Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the High Yield Bond category average over the same months.
| Period | FIHBX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $105 | $105 |
| 3 years (Aug 2023 – Jul 2026) | $124 | $123 |
| 5 years (Aug 2021 – Jul 2026) | $118 | $118 |
| Since data start (Aug 2019 – Jul 2026) | $135 | $132 |
FIHBX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.23% |
| 1 year | +4.51% |
| 3 years (annualised) | +7.34% |
| 5 years (annualised) | +3.44% |
FIHBX Annual Returns
Calendar-year total returns of Federated Hermes Institutional High Yield Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +1.23% |
| 2025 | +8.49% |
| 2024 | +6.37% |
| 2023 | +13.11% |
| 2022 | −11.40% |
| 2021 | +4.79% |
| 2020 | +5.98% |
| 2019 (Aug–Dec) | +3.70% |
FIHBX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.1% | +0.1% | −1.1% | +1.6% | +0.5% | +0.3% | −0.3% | — | — | — | — | — |
| 2025 | +1.3% | +0.6% | −0.9% | +0.6% | +1.5% | +1.7% | +0.2% | +1.1% | +0.5% | +0.2% | +0.6% | +0.8% |
| 2024 | −0.1% | −0.2% | +1.2% | −1.1% | +1.1% | +0.9% | +1.8% | +1.4% | +1.6% | −0.8% | +1.0% | −0.5% |
| 2023 | +3.8% | −1.4% | +1.1% | +1.1% | −1.3% | +1.7% | +1.7% | +0.4% | −1.2% | −1.4% | +4.5% | +3.6% |
| 2022 | −2.5% | −0.9% | −0.8% | −3.8% | +0.2% | −6.6% | +5.7% | −2.6% | −4.3% | +3.2% | +1.7% | −0.7% |
| 2021 | +0.1% | +0.4% | +0.2% | +0.9% | +0.2% | +1.4% | +0.2% | +0.5% | 0.0% | −0.5% | −0.9% | +2.0% |
| 2020 | −0.1% | −1.8% | −10.4% | +4.2% | +4.8% | +0.3% | +4.5% | +0.8% | −1.0% | +0.4% | +3.4% | +1.7% |
| 2019 | — | — | — | — | — | — | — | +0.3% | +0.6% | +0.3% | +0.2% | +2.3% |
FIHBX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 4.28%
- 3-year Sharpe ratio: 0.66 (vs 4.5% risk-free rate)
- Best month: +4.54% (Nov 2023)
- Worst month: −1.39% (Oct 2023)
FIHBX Fund Flows
Monthly money in and out of Federated Hermes Institutional High Yield Bond Fund, from SEC Form N-PORT.
- 12-month net flow: −$2.2B
- 12-month gross sales (incl. reinvestments): $1.4B
- Sales ÷ redemptions: 0.38×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $80.3M | $97.8M | −$17.5M |
| Jun 2026 | $115.3M | $92.6M | $22.7M |
| May 2026 | $99.6M | $194.7M | −$95.1M |
| Apr 2026 | $76.8M | $84.5M | −$7.6M |
| Mar 2026 | $100.8M | $170.4M | −$69.6M |
| Feb 2026 | $112.8M | $542.7M | −$429.9M |
| Jan 2026 | $120.3M | $125.5M | −$5.2M |
| Dec 2025 | $121.7M | $451.9M | −$330.2M |
| Nov 2025 | $129.9M | $774.9M | −$645.1M |
| Oct 2025 | $161.0M | $795.7M | −$634.6M |
| Sep 2025 | $121.4M | $114.1M | $7.3M |
| Aug 2025 | $115.2M | $154.2M | −$39.0M |
FIHBX Assets Under Management
Net assets of Federated Hermes Institutional High Yield Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $4.68B |
| 2026-04-30 | $4.82B |
| 2026-01-31 | $5.37B |
| 2025-10-31 | $6.38B |
| 2025-07-31 | $7.02B |
| 2025-04-30 | $7.14B |
| 2025-01-31 | $7.64B |
| 2024-10-31 | $7.70B |
| 2024-07-31 | $7.63B |
| 2024-04-30 | $7.43B |
| 2024-01-31 | $7.62B |
| 2023-10-31 | $7.18B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.