FMNCX Performance — Federated Hermes Municipal High Yield Advantage Fund, Class C
Data updated: 2026-07-27
FMNCX returned +2.08% year to date and +7.20% over one year to May 2026. Annualised returns are +4.14% over 3 years and +0.19% over 5 years. Against its High Yield Bond category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $113, against $126 for the category, and to $107 over one year, against $107. Volatility over the past three years was 6.50% a year. In the 12 months to May 2026 the fund took in a net $1.9M, and assets reached $459.10M.
FMNCX Growth of $100
What $100 invested in Federated Hermes Municipal High Yield Advantage 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 | FMNCX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $113 | $126 |
| 5 years (Jun 2021 – May 2026) | $101 | $120 |
| Since data start (Sep 2019 – May 2026) | $106 | $132 |
FMNCX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.08% |
| 1 year | +7.20% |
| 3 years (annualised) | +4.14% |
| 5 years (annualised) | +0.19% |
FMNCX Annual Returns
Calendar-year total returns of Federated Hermes Municipal High Yield Advantage Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +2.08% |
| 2025 | +2.23% |
| 2024 | +4.34% |
| 2023 | +6.13% |
| 2022 | −14.00% |
| 2021 | +4.69% |
| 2020 | +2.04% |
| 2019 (Sep–Dec) | +0.05% |
FMNCX 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 | +0.7% | +1.2% | −1.7% | +1.3% | +0.7% | — | — | — | — | — | — | — |
| 2025 | +0.3% | +1.1% | −1.9% | −1.5% | −0.6% | +0.5% | −1.0% | +0.8% | +3.1% | +1.0% | +0.4% | 0.0% |
| 2024 | +0.5% | +0.3% | +0.6% | −1.3% | +0.5% | +2.3% | +0.8% | +0.8% | +1.2% | −1.3% | +1.4% | −1.3% |
| 2023 | +3.7% | −2.6% | +1.5% | +0.2% | −0.5% | +0.8% | +0.1% | −1.4% | −3.5% | −2.4% | +7.4% | +3.0% |
| 2022 | −2.6% | −0.7% | −3.3% | −3.6% | +0.8% | −3.2% | +3.2% | −2.4% | −5.4% | −1.8% | +5.5% | −0.9% |
| 2021 | +1.8% | −1.5% | +0.7% | +1.2% | +1.0% | +0.9% | +1.0% | −0.4% | −1.0% | −0.3% | +1.3% | +0.2% |
| 2020 | +1.8% | +1.7% | −9.6% | −3.2% | +3.2% | +3.2% | +2.2% | 0.0% | 0.0% | 0.0% | +2.1% | +1.5% |
| 2019 | — | — | — | — | — | — | — | — | −0.5% | 0.0% | +0.2% | +0.3% |
FMNCX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.50%
- 3-year Sharpe ratio: -0.06 (vs 4.5% risk-free rate)
- Best month: +7.44% (Nov 2023)
- Worst month: −3.45% (Sep 2023)
FMNCX Fund Flows
Monthly money in and out of Federated Hermes Municipal High Yield Advantage Fund, from SEC Form N-PORT.
- 12-month net flow: $1.9M
- 12-month gross sales (incl. reinvestments): $100.9M
- Sales ÷ redemptions: 1.02×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $13.4M | $5.4M | $8.0M |
| Apr 2026 | $7.1M | $6.8M | $278K |
| Mar 2026 | $7.5M | $6.4M | $1.2M |
| Feb 2026 | $7.3M | $4.6M | $2.7M |
| Jan 2026 | $10.3M | $7.6M | $2.7M |
| Dec 2025 | $12.6M | $13.2M | −$520K |
| Nov 2025 | $7.0M | $7.9M | −$923K |
| Oct 2025 | $6.5M | $8.5M | −$2.0M |
| Sep 2025 | $6.8M | $8.3M | −$1.5M |
| Aug 2025 | $8.0M | $6.8M | $1.2M |
| Jul 2025 | $7.0M | $14.4M | −$7.4M |
| Jun 2025 | $7.5M | $9.2M | −$1.8M |
FMNCX Assets Under Management
Net assets of Federated Hermes Municipal High Yield Advantage Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $459.10M |
| 2026-02-28 | $452.36M |
| 2025-11-30 | $442.68M |
| 2025-08-31 | $431.14M |
| 2025-05-31 | $441.40M |
| 2025-02-28 | $476.17M |
| 2024-11-30 | $481.41M |
| 2024-08-31 | $483.55M |
| 2024-05-31 | $472.79M |
| 2024-02-29 | $484.77M |
| 2023-11-30 | $465.68M |
| 2023-08-31 | $445.28M |
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.