TLRBX — Federated Total Return Bond Fund

TLRBX Fund Overview

TLRBX — Federated Total Return Bond Fund is a US mutual fund managed by Federated Hermes Total Return Series, Inc., categorised as Total Return Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Federated Hermes Total Return Series, Inc.
• Category: Total Return Allocation
• Assets under management: $15.14B
• 1-year return: 0.0%
• Ticker: TLRBX
• SEC CIK: 0000912763
• SEC series ID: S000010897
• Share class ID: C000030201

TLRBX Investment Objective and Strategy

Federated Total Return Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Federated Hermes Total Return Series, Inc..

Investment objective

The Fund's investment objective is to provide total return.

Principal investment strategy

"The Fund pursues its investment objective by investing primarily in U.S. dollar denominated, investment-grade, fixed- income securities. In addition, the Fund may invest in high-yield, non-U.S. dollar denominated, and emerging market fixed- income securities when the Adviser considers the risk-return prospects of those sectors to be attractive. The Adviser expects that, normally, no more than 15% of the Fund's total assets will be invested in securities that are rated below investment grade. However, the Fund may opportunistically invest up to 25% of its total assets in noninvestment-grade debt securities (otherwise known as ""junk bonds"" or ""leveraged loans""). The amount of any unhedged non-U.S. dollar denominated fixed-income securities and foreign currencies in the Fund's portfolio will normally not exceed 10% of the Fund's total assets.

The maximum amount that the Fund may invest in non-U.S. dollar denominated fixed-income securities and foreign currencies is 20% of the Fund's total assets. Investment-grade, fixed-income securities are rated in one of the four highest categories (BBB- or higher) by a nationally recognized statistical rating organization (NRSRO). Noninvestment-grade, fixed-income securities are rated in one of the six lowest categories (BB or lower) by a NRSRO, or in either case if unrated, of comparable quality as determined by the Adviser. The Adviser seeks to enhance the Fund's performance by allocating relatively more of its portfolio to the sector that the Adviser expects to offer the best balance between total return and risk and thus offer the greatest potential for return. The Fund may invest in derivative contracts or hybrid instruments (such as, for example, futures contracts, option contracts and swap contracts) to implement its investment strategies.

The Fund may also use derivative contracts or hybrid instruments to increase or decrease the portfolio's exposure to the investments(s) underlying the derivative or hybrid in an attempt to benefit from changes in the value of the underlying investment(s). There can be no assurance that the Fund's uses of derivatives contracts or hybrid instruments will work as intended. The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook, but the Fund has no set duration parameters. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation (""Freddie Mac""), the Federal National Mortgage Association (""Fannie Mae"") and the Federal Home Loan Bank System.

These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association (""Ginnie Mae""). Finally, the Fund may invest in a few government securities that are issued by entities whose activities are sponsored by the federal government but that have no explicit financial support. The Adviser actively manages the Fund's portfolio seeking total returns over longer time periods in excess of the Bloomberg Barclays U.S. Aggregate Bond Index (BBAB). The BBAB is a composite index of the domestic, investment-grade, fixed-rate bond market, represented by the following sectors: government and credit securities; agency mortgage pass-through securities; asset-backed securities; and commercial mortgage-backed securities.

The Adviser utilizes a five-part decision making process, focusing on: (1) duration; (2) yield curve; (3) sector allocation; (4) security selection; and (5) currency management. This five-part investment process is designed to capitalize on the depth of experience and focus of each of the Adviser's fixed-income sector teamsgovernment, corporate, mortgage-backed, asset-backed, high-yield and international. There can be no assurance that the Adviser will be successful in achieving investment returns in excess of the BBAB. When selecting investments for the Fund, the Fund can invest in securities directly or in other investment companies, including, for example, funds advised by the Adviser or its affiliates (and ""Underlying Fund""). At times, the Fund's investment in Underlying Funds may be a substantial portion of the Fund's portfolio.

The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets in fixed-income investments."

TLRBX Holdings

Top 10 holdings of Federated Total Return Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all TLRBX holdings

TLRBX Portfolio Allocation

Asset-class allocation of Federated Total Return Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

TLRBX Performance

Total returns for TLRBX (as of 2026-10-01), from SEC filings.

TLRBX Risk Information

Risk metrics for TLRBX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 0.0%

TLRBX Costs and Fees

TLRBX costs about $151 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.51%
• Gross expense ratio: 1.55%
• Portfolio turnover: 45%
• Brokerage commissions: 0.92 bps of average net assets (SEC N-CEN)

TLRBX Cashflows

Over the 12 months to 2026-05, Federated Total Return Bond Fund had net inflows of $657.83M, from monthly SEC N-PORT filings.

TLRBX Debt Constituents

Largest debt holdings of Federated Total Return Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

TLRBX Prospectus and SEC Filings

Official Federated Total Return Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-01-26
• Prospectus (485BPOS) — filed 2025-01-28
• Prospectus (485BPOS) — filed 2024-01-25
• Portfolio holdings (N-PORT) — filed 2026-07-27
• Portfolio holdings (N-PORT) — filed 2026-04-23
• Portfolio holdings (N-PORT) — filed 2026-01-23
• Annual census (N-CEN) — filed 2026-02-11
• Annual census (N-CEN) — filed 2025-02-04

Related Funds

Other Total Return Allocation funds tracked on ABC INVEST:

• Columbia Balanced Fund (CBLAX)
• MFS Total Return Fund (MSFRX)
• AllianzGI Income & Growth Fund (AZNAX)
• AQR Risk Parity Fund (AQRNX)
• Columbia Adaptive Risk Allocation Fund (CRAAX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.