FMULX Fees and Costs — Federated Hermes Municipal Ultrashort Fund, Class R6
Data updated: 2026-08-25
The net expense ratio is 0.34%: a 0.29% management fee plus 0.12% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 47%.
FMULX Fees and Expenses
Annual operating expenses and sales charges of FMULX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.41% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.34% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FMULX Costs Over Time
On $10,000 invested in FMULX, assuming 5% a year before costs, total costs come to $215 over 5 years, cutting the return by 0.36% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.34%) | $36 | $112 | $196 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $36 | $118 | $215 |
| Value after costs | $10,464 | $11,459 | $12,547 |
| Impact on return, per year | 0.36% | 0.36% | 0.36% |
FMULX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.7B
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
FMULX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $832.6M | 58.58% |
| Barclays Capital Inc. | $139.8M | 9.84% |
| BofA Securities, Inc. | $88.9M | 6.26% |
| Wells Fargo Securities, LLC | $73.8M | 5.19% |
| Deutsche Bank Securities Inc | $61.8M | 4.35% |
| Raymond James & Associates, Inc. | $61.3M | 4.31% |
| Jefferies LLC | $50.9M | 3.58% |
| Truist Securities, Inc. | $41.1M | 2.90% |
| Keybanc Capital Markets Inc. | $39.6M | 2.78% |
| RBC Capital Markets, LLC | $31.4M | 2.21% |
Federated Hermes Municipal Ultrashort Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FMULX | Class R6 | 0.34% | none |
| FMUSX | Institutional Shares | 0.36% | none |
| FMUUX | Class A | 0.51% | none |
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.