FMUSX Performance — Federated Hermes Municipal Ultrashort Fund, Institutional Shares
Data updated: 2026-08-25
FMUSX returned +1.37% year to date and +3.01% over one year to Jun 2026. Annualised returns are +3.54% over 3 years and +2.37% over 5 years. The fund beat its Ultrashort Municipal Bond category average: $100 invested three years ago grew to $111, against $109 for the category, and to $103 over one year, against $103. Volatility over the past three years was 0.64% a year. In the 12 months to Jun 2026 the fund took in a net $229.8M, and assets reached $1.44B.
FMUSX Growth of $100
What $100 invested in Federated Hermes Municipal Ultrashort Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Ultrashort Municipal Bond category average over the same months.
| Period | FMUSX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $103 | $103 |
| 3 years (Jul 2023 – Jun 2026) | $111 | $109 |
| 5 years (Jul 2021 – Jun 2026) | $112 | $109 |
| Since data start (Jul 2019 – Jun 2026) | $115 | $113 |
FMUSX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.37% |
| 1 year | +3.01% |
| 3 years (annualised) | +3.54% |
| 5 years (annualised) | +2.37% |
FMUSX Annual Returns
Calendar-year total returns of Federated Hermes Municipal Ultrashort Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.37% |
| 2025 | +3.42% |
| 2024 | +3.57% |
| 2023 | +3.98% |
| 2022 | −0.35% |
| 2021 | +0.11% |
| 2020 | +1.13% |
| 2019 (Jul–Dec) | +0.94% |
FMUSX 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 | +0.4% | +0.3% | −0.1% | +0.2% | +0.2% | +0.2% | — | — | — | — | — | — |
| 2025 | +0.4% | +0.3% | +0.2% | +0.1% | +0.4% | +0.4% | +0.3% | +0.4% | +0.2% | +0.2% | +0.2% | +0.3% |
| 2024 | +0.2% | +0.3% | +0.3% | +0.2% | +0.3% | +0.5% | +0.6% | +0.6% | +0.4% | 0.0% | +0.4% | +0.1% |
| 2023 | +0.5% | 0.0% | +0.4% | +0.1% | +0.2% | +0.4% | +0.2% | +0.3% | 0.0% | +0.3% | +0.9% | +0.6% |
| 2022 | −0.5% | −0.1% | −0.4% | −0.4% | +0.3% | −0.1% | +0.3% | −0.1% | −0.3% | +0.1% | +0.6% | +0.2% |
| 2021 | +0.1% | −0.2% | 0.0% | +0.1% | 0.0% | 0.0% | +0.1% | −0.1% | −0.1% | −0.1% | 0.0% | 0.0% |
| 2020 | +0.2% | +0.2% | −0.9% | −0.3% | +0.7% | +0.4% | +0.4% | +0.2% | +0.1% | 0.0% | +0.1% | +0.1% |
| 2019 | — | — | — | — | — | — | +0.2% | +0.2% | −0.1% | +0.2% | +0.1% | +0.2% |
FMUSX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 0.64%
- 3-year Sharpe ratio: -1.49 (vs 4.5% risk-free rate)
- Best month: +0.88% (Nov 2023)
- Worst month: −0.07% (Mar 2026)
FMUSX Fund Flows
Monthly money in and out of Federated Hermes Municipal Ultrashort Fund, from SEC Form N-PORT.
- 12-month net flow: $229.8M
- 12-month gross sales (incl. reinvestments): $999.7M
- Sales ÷ redemptions: 1.30×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $99.5M | $110.3M | −$10.8M |
| May 2026 | $120.3M | $57.1M | $63.2M |
| Apr 2026 | $70.2M | $200.2M | −$130.0M |
| Mar 2026 | $75.6M | $56.4M | $19.3M |
| Feb 2026 | $106.5M | $30.6M | $75.9M |
| Jan 2026 | $70.5M | $50.3M | $20.2M |
| Dec 2025 | $91.1M | $44.7M | $46.4M |
| Nov 2025 | $64.9M | $64.7M | $115K |
| Oct 2025 | $43.1M | $45.3M | −$2.1M |
| Sep 2025 | $23.8M | $46.4M | −$22.6M |
| Aug 2025 | $176.3M | $32.4M | $143.9M |
| Jul 2025 | $57.8M | $31.4M | $26.4M |
FMUSX Assets Under Management
Net assets of Federated Hermes Municipal Ultrashort Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.44B |
| 2026-03-31 | $1.51B |
| 2025-12-31 | $1.40B |
| 2025-09-30 | $1.36B |
| 2025-06-30 | $1.20B |
| 2025-03-31 | $1.20B |
| 2024-12-31 | $1.14B |
| 2024-09-30 | $1.11B |
| 2024-06-30 | $1.09B |
| 2024-03-31 | $1.13B |
| 2023-12-31 | $1.15B |
| 2023-09-30 | $1.16B |
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.