TBVXX Fees and Costs — Federated Hermes Tax-Free Obligations Fund, Advisor Shares
Data updated: 2026-08-11
The net expense ratio is 0.21%: a 0.20% management fee plus 0.09% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees.
TBVXX Fees and Expenses
Annual operating expenses and sales charges of TBVXX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.29% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.21% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| 7-day yield | 3.53% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
TBVXX Costs Over Time
On $10,000 invested in TBVXX, assuming 5% a year before costs, total costs come to $133 over 5 years, cutting the return by 0.22% 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 0.21%) | $22 | $69 | $121 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $22 | $73 | $133 |
| Value after costs | $10,478 | $11,503 | $12,629 |
| Impact on return, per year | 0.22% | 0.22% | 0.22% |
TBVXX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $25.6B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
TBVXX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $11.2B | 50.35% |
| BofA Securities, Inc. | $2.8B | 12.57% |
| BMO Capital Markets Corp. | $1.4B | 6.07% |
| TD Financial Products LLC | $1.3B | 5.86% |
| Morgan Stanley & Co. LLC | $1.1B | 4.93% |
| Goldman Sachs & Co. LLC | $1.0B | 4.65% |
| Barclays Capital Inc. | $971.6M | 4.35% |
| BNY Mellon Capital Markets, LLC | $960.8M | 4.31% |
| Wells Fargo Securities, LLC | $953.8M | 4.27% |
| RBC Capital Markets, LLC | $586.2M | 2.63% |
Federated Hermes Tax-Free Obligations Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TBIXX | Wealth Shares | 0.21% | none |
| TBVXX | Advisor Shares | 0.21% | none |
| TBSXX | Service Shares | 0.46% | 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.