FULIX Fees and Costs — Federated Hermes Ultrashort Bond Fund, Institutional Shares
Data updated: 2026-08-25
The net expense ratio is 0.37%: a 0.29% management fee plus 0.16% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $13K in broker commissions, 0.0005% of average net assets, and portfolio turnover was 49%.
FULIX Fees and Expenses
Annual operating expenses and sales charges of FULIX. Prospectus, as of November 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.45% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.37% |
| 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 |
FULIX Costs Over Time
On $10,000 invested in FULIX, assuming 5% a year before costs, total costs come to $235 over 5 years, cutting the return by 0.39% 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 0.37%) | $39 | $122 | $213 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $39 | $128 | $235 |
| Value after costs | $10,461 | $11,448 | $12,528 |
| Impact on return, per year | 0.39% | 0.39% | 0.39% |
FULIX 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): 0.0005%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $6.3B
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $3.9M
- Net income from securities lending: $11K (0.000% of average net assets)
FULIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $13K | 100.00% |
FULIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $2.6B | 43.66% |
| Federated Securities Corp. | $1.7B | 27.96% |
| J.P. Morgan Securities LLC | $511.0M | 8.65% |
| BofA Securities, Inc. | $298.2M | 5.05% |
| Morgan Stanley & Co. LLC | $230.7M | 3.91% |
| Barclays Capital Inc. | $206.5M | 3.50% |
| Wells Fargo Securities, LLC | $151.9M | 2.57% |
| BNP Paribas Securities Corp. | $141.4M | 2.39% |
| BMO Capital Markets Corp. | $70.5M | 1.19% |
| Citigroup Global Markets Inc. | $66.3M | 1.12% |
Federated Hermes Ultrashort Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FULLX | Class R6 | 0.36% | none |
| FULIX | Institutional Shares | 0.37% | none |
| FULBX | Service Shares | 0.47% | none |
| FULAX | Class A | 0.52% | 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.