PAMIX Fees and Costs — Federated Hermes Pennsylvania Municipal Income Fund, Institutional Shares
Data updated: 2026-07-27
The net expense ratio is 0.53%: a 0.40% management fee plus 0.42% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 35%.
PAMIX Fees and Expenses
Annual operating expenses and sales charges of PAMIX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.42% |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.29% |
| Net expense ratio | 0.53% |
| 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 |
PAMIX Costs Over Time
On $10,000 invested in PAMIX, assuming 5% a year before costs, total costs come to $335 over 5 years, cutting the return by 0.56% 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 0.53%) | $56 | $174 | $304 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $335 |
| Value after costs | $10,444 | $11,393 | $12,428 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
PAMIX 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
PAMIX 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.