FRSAX Fees and Costs — Federated Hermes Floating Rate Strategic Income Fund, Class A
Data updated: 2026-08-25
The net expense ratio is 0.99% (1.13% before fee waivers). This share class carries a maximum front-end sales load of 1.00%. Portfolio turnover was 5%.
FRSAX Fees and Expenses
Annual operating expenses and sales charges of FRSAX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.47% |
| Gross expense ratio | 1.13% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | 1.00% |
| 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 |
FRSAX Costs Over Time
On $10,000 invested in FRSAX, assuming 5% a year before costs, total costs come to $741 over 5 years, cutting the return by 1.25% 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 |
| Sales charges | $100 | $100 | $100 |
| Fund expenses (net expense ratio 0.99%) | $103 | $321 | $557 |
| Lost growth on money paid in costs | $5 | $32 | $84 |
| Total costs | $208 | $453 | $741 |
| Value after costs | $10,292 | $11,123 | $12,022 |
| Impact on return, per year | 2.08% | 1.39% | 1.25% |
FRSAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $282.5M
- Portfolio turnover (prospectus): 5%
- Securities lending: none during the year
FRSAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Federated Securities Corp. | $261.8M | 92.68% |
| Wells Fargo Securities, LLC | $7.5M | 2.67% |
| BNP Paribas Securities Corp. | $6.2M | 2.20% |
| Nomura Securities International, Inc. | $3.6M | 1.27% |
| Citigroup Global Markets Inc. | $3.0M | 1.06% |
| MUFG Securities Americas Inc. | $365K | 0.13% |
Federated Hermes Floating Rate Strategic Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FFRLX | Class R6 | 0.73% | none |
| FFRSX | Institutional Shares | 0.74% | none |
| FRSAX | Class A | 0.99% | 1.00% |
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.