GRFXX Fees and Costs — Federated Hermes Government Reserves Fund, Class P
Data updated: 2026-10-09
The net expense ratio is 1.02%: a 0.15% management fee, a 0.55% 12b-1 fee plus 0.46% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees.
GRFXX Fees and Expenses
Annual operating expenses and sales charges of GRFXX. Prospectus, as of July 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.55% |
| Other expenses | 0.46% |
| Gross expense ratio | 1.16% |
| Fee waiver | −0.14% |
| Net expense ratio | 1.02% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| 7-day yield | 3.68% |
GRFXX Costs Over Time
On $10,000 invested in GRFXX, assuming 5% a year before costs, total costs come to $638 over 5 years, cutting the return by 1.07% 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 1.02%) | $107 | $334 | $579 |
| Lost growth on money paid in costs | $0 | $17 | $58 |
| Total costs | $107 | $351 | $638 |
| Value after costs | $10,393 | $11,226 | $12,125 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
GRFXX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $576.5B
- Portfolio turnover (prospectus): —
GRFXX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Federal Reserve Bank of New York | $332.9B | 34.46% |
| BNP Paribas Securities Corp. | $123.6B | 12.79% |
| BMO Capital Markets Corp. | $106.2B | 10.99% |
| BofA Securities, Inc. | $98.7B | 10.21% |
| Citigroup Global Markets Inc. | $97.1B | 10.05% |
| Barclays Capital Inc | $74.0B | 7.66% |
| ABN AMRO Securities (USA) LLC | $61.5B | 6.36% |
| Natixis Securities Americas LLC | $57.7B | 5.98% |
| HSBC Securities (USA) Inc. | $12.6B | 1.30% |
| Wells Fargo Securities, LLC | $1.8B | 0.19% |
Federated Hermes Government Reserves Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GRAXX | Class A | 0.87% | none |
| GRGXX | Class F | 0.87% | none |
| GRFXX | Class P | 1.02% | none |
| GRCXX | Class C | 1.27% | 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.