Short Duration Corporate ETF

ticker F C S H Exchange-Traded Funds . Short-Term Bond .

Overview

 
AT A GLANCE
Portfolio
Assets
November 30 2022
$25.0 M
YTD Return NAV
December 5 2022
-5.96%
Fixed Income
Gross
Expenses
0.42%
Net
Expenses
0.30%
STRATEGY

Seeks current income by investing primarily in corporate fixed income securities rated investment grade.  The effective duration of the fund’s portfolio will generally be between 1.5 and 3.5 years.

KEY FACTS
Key Facts - Part 1
Symbol ticker F C S H
Benchmark Bloomberg US Corporate 1-5 Year Index
Key Facts - Part 2
Fund Number(s)
1000
CUSIP 3 1 4 2 3 L 1 0 7
Performance Incp. Date December 16 2021
MORNINGSTAR CATEGORY / STYLE
Category
Short-Term Bond
Style
Medium Limited
INVESTMENT GOALS Retirement
Income
KEY INVESTMENT TEAM
John Gentry, CFA
Senior Vice President
Senior Portfolio Manager
Head of Corporate Fixed Income Group

joined Federated Hermes
32 years of experience
Robert Matthews, CFA
Vice President
Senior Investment Analyst
Portfolio Manager

joined Federated Hermes
13 years of experience

Performance

Premium and Discount

DISCLOSURES

The premium/discount is the amount the fund’s closing price is trading above or below the reported NAV, expressed as a percentage of the NAV. When the fund’s closing price is greater than the fund’s NAV, it is said to be trading at a “premium” and the percentage is expressed as a positive number. When the fund’s closing price is less than the fund’s NAV, it is said to be trading at a “discount” and the percentage is expressed as a negative number. Shareholders may pay more than NAV when buying fund shares and receive less than NAV when selling fund shares, because shares are bought and sold at current market prices.

The median bid/ask spread is the midpoint of the difference between the best price at which a buyer has purchased a fund share (the bid) and the best price at which a seller has sold a fund share (the ask). The median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for the fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.

Characteristics

DISCLOSURES

For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.

Commentary

Documents

 
DISCLOSURES

1 disclosure If this product is new, it will not have completed its first financial reporting period. Please check back to view future shareholder reports. For the new share of an existing fund, you may wish to view recent shareholder reports of another share of that fund by visiting another share.

The “As of Date” for regulatory documents  is the date when the document is effective with the SEC and made available on Federated Hermes' website.

2 disclosure Each fiscal quarter, the Fund will file with the SEC a complete schedule of its monthly portfolio holdings on “Form N-PORT.” The Fund’s holdings as of the end of the third month of every fiscal quarter, as reported on Form N-PORT, will be publicly available on the SEC’s website at www.sec.gov within 60 days of the end of the fiscal quarter upon filing.

* PDF file consists of a President's Message or Market Overview (if applicable) and Annual Shareholder Report.

Distributions and Taxes

Standard Performance

 
DISCLOSURES

The fund is subject to fees and expenses, including management fees and other expenses, such as legal and accounting fees. Total returns reflect these fees.

dagger disclosure The fund's expense ratio is from the most recent prospectus. The expense ratio may reflect voluntary fee waivers and/or expense reimbursements determined by the fund's Advisor and its affiliates. The voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 01/01/2023 or the date of the fund's next effective prospectus.

Fund shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. However, shares may be redeemed at NAV directly by certain authorized broker-dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer ("NBBO") as of the time the ETF calculates the current NAV per share. NAVs are calculated using prices as of 4:00 PM Eastern Time.

Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.

The value of some mortgage-backed securities may be particularly sensitive to changes in prevailing interest rates.

Issuers of fixed-income securities may fail to pay interest or principal on those securities when due, which may reduce the value of the Fund’s portfolio holdings, its share price and its performance.

Foreign investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards.

Total returns for periods of less than one year are cumulative.

Total returns may have been lower in the absence of temporary expense waivers or reimbursements.

After-tax returns are calculated using a standard set of assumptions. Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown. The stated returns assume the highest historical federal income and capital gains tax rates. Return After Taxes on Distributions assumes a continued investment in the fund and shows the effect of taxes on fund distributions. Return After Taxes on Distribution and Sale of Fund Shares assumes all shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans, or variable annuities. The after-tax average annual total returns are based on the 37% tax bracket and include the 3.8% tax on net investment income.

The ratings agencies that provided the quality breakdown ratings are Standard and Poor's, Moody's and Fitch. When ratings vary, the highest rating is used. Credit ratings of A or better are considered to be high credit quality; credit ratings of BBB are good credit quality, and the lowest category of investment grade; credit ratings BB and below are lower-rated securities ("junk bonds"); and credit ratings of CCC or below have high default risk. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund.

Past performance is no guarantee of future results.

High-yield, lower-rated securities generally entail greater market, credit/default and liquidity risks, and may be more volatile than investment grade securities.

The fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional instruments.

Product classifications noted at the top are Federated Hermes' internal classifications.

The holdings percentages are based on net assets at the close of business on the date above, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Because this is a managed portfolio, the investment mix will change.

Current and future portfolio holdings are subject to risk.

Although the information provided on this website has been obtained from sources which Federated Hermes  believes to be reliable, it does not guarantee accuracy of such information and such information may be incomplete or condensed.

Please carefully consider the fund’s investment objectives, risks, charges and expenses before investing. For this and other information, call 1-800-341-7400 or visit FederatedInvestors.com for a summary prospectus, or prospectus. Read it carefully before you invest.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee

2696475275