PAMFX Fees and Costs — Federated Hermes Pennsylvania Municipal Income Fund, Class A
Data updated: 2026-07-27
The net expense ratio is 0.76%: a 0.40% management fee plus 0.67% other expenses, less a 0.31% fee waiver. This share class carries a maximum front-end sales load of 4.50%. Portfolio turnover was 35%.
PAMFX Fees and Expenses
Annual operating expenses and sales charges of PAMFX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.67% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.31% |
| Net expense ratio | 0.76% |
| Sales charges | |
|---|---|
| Max front load | 4.50% |
| 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 |
PAMFX Costs Over Time
On $10,000 invested in PAMFX, assuming 5% a year before costs, total costs come to $1,031 over 5 years, cutting the return by 1.75% 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 | $450 | $450 | $450 |
| Fund expenses (net expense ratio 0.76%) | $76 | $238 | $414 |
| Lost growth on money paid in costs | $23 | $83 | $166 |
| Total costs | $549 | $771 | $1,031 |
| Value after costs | $9,951 | $10,805 | $11,732 |
| Impact on return, per year | 5.49% | 2.39% | 1.75% |
PAMFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $66.6M
- Portfolio turnover (prospectus): 35%
- Securities lending: none during the year
PAMFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $9.1M | 21.31% |
| BofA Securities, Inc. | $6.8M | 16.02% |
| J.P. Morgan Securities LLC | $4.8M | 11.19% |
| Wells Fargo Securities, LLC | $4.5M | 10.60% |
| Raymond James & Associates, Inc. | $3.3M | 7.71% |
| UBS Securities LLC | $3.3M | 7.68% |
| Hartfield, Titus & Donnelly, LLC | $3.0M | 6.96% |
| Hilltop Securities Inc. | $2.7M | 6.26% |
| Goldman Sachs & Co. LLC | $2.6M | 6.16% |
| Citigroup Global Markets Inc. | $2.6M | 6.11% |
Federated Hermes Pennsylvania Municipal 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 |
|---|---|---|---|
| PAMIX | Institutional Shares | 0.53% | none |
| PAMFX | Class A | 0.76% | 4.50% |
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.