Mutual funds are subject to risks and fluctuate in value.
The fund’s A Shares commenced operations on November 18, 2008. For the period prior to the commencement of operations of the A Shares, the performance information shown is for the fund’s F Shares, adjusted to reflect the maximum sales charge applicable to the fund’s A shares, and to remove any voluntary waiver of fund expenses related to the F Shares that may have occurred prior to commencement of operations of the A Shares. The performance of the F Shares has not been adjusted to reflect the anticipated expenses of the A Shares because the expense ratio of A Shares is expected to be lower than the expense ratio of F Shares.
Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
Interest income from the fund's investments may be subject to the federal Alternative Minimum Tax (AMT) for individuals and corporations, and state and local taxes.
Past performance is no guarantee of future results.
"Category" product classifications noted at the top are Federated's internal classifications.
Investors should carefully consider the fund's investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the summary prospectus or prospectus before investing.