Morningstar® Investment Profile™   Morningstar®
Disclosure
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Federated Hermes High Income Bond II P
Release date as of 2022-05-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2022-05-31
Out of 631
High Yield Bond Funds
Morningstar®
Style Box™
What is this?
As of 2022-03-31
Total Fund Assets ($ Mil)
131.07
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks high current income.
The fund invests primarily in a diversified portfolio of high-yield, lower-rated corporate bonds (also known as "junk bonds"). It primarily invests in domestic high-yield, lower-rated bonds, but may invest a portion of its portfolio in securities of issuers based outside of the United States (so-called "foreign securities") in both emerging and developed markets. The fund may invest in derivative contracts and/or hybrid instruments to implement elements of its investment strategy.
  Morningstar Category: High Yield Bond
High-yield bond portfolios concentrate on lower-quality bonds, which are riskier than those of higher-quality companies. These portfolios generally offer higher yields than other types of portfolios, but they are also more vulnerable to economic and credit risk. These portfolios primarily invest in U.S. high-income debt securities where at least 65% or more of bond assets are not rated or are rated by a major agency such as Standard & Poor's or Moody's at the level of BB (considered speculative for taxable bonds) and below. 
  Investment Risks
High-Yield Bond Funds: Funds that invest in lower-rated debt securities (commonly referred to as junk bonds) involve additional risk because of the lower credit quality of the securities in the portfolio. There are risks associated with the possibility of a higher level of volatility and increased risk of default.
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.7
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.0
Bullet Bonds Bonds 96.3
Bullet Cash Cash 2.5
Bullet Other Other 0.5
Asset Allocation Rescaled Graph
Data through 2022-03-31
Morningstar Fixed-Income Sectors
% Fund
Government 0.00
Corporate 97.47
Securitized 0.00
Municipal 0.00
Cash & Equivalents 2.53
Other 0.00
Data through 2022-03-31
Credit Analysis
% Bonds
AAA 2.70
AA 0.00
A 0.00
BBB 1.40
BB 26.80
B 41.20
Below B 26.90
Not Rated 1.00
Data through 2022-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 4
Total Number of Bond Holdings 506
% of Net Assets in Top 10 Holdings 8.04
Turnover % (as of 2021-12-31) 39.00
30 Day SEC Yield % 6.35
Top Holdings
Maturity
Date
Shares
Value
$000
% of Net
Assets
HUB International Ltd. 7% 2026-05-01 1,750 1,772 1.26
Clarios Global Lp 8.5% 2027-05-15 1,325 1,376 0.98
NFP Corp. 6.875% 2028-08-15 1,300 1,243 0.89
GW B-Credit Security Corporation 9.5% 2027-11-01 1,029 1,056 0.75
Clydesdale Acquisition Holdings Inc. 8.75% 2030-04-15 1,100 1,037 0.74
1011778 B.C. Unlimited Liability Company / New Red Finance, Inc. 4% 2030-10-15 1,100 994 0.71
iHeartCommunications Inc 8.375% 2027-05-01 931 964 0.69
CCO Holdings, LLC/ CCO Holdings Capital Corp. 4.75% 2030-03-01 1,000 962 0.69
Terrier Media Buyer Inc 8.875% 2027-12-15 925 942 0.67
Allied Universal Holdco LLC / Allied Universal Finance Corporation 9.75% 2027-07-15 900 931 0.66
Data through 2022-03-31
  Principal Risks   
Credit and Counterparty, Prepayment (Call), Currency, Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Issuer, Interest Rate, Market/Market Volatility, High-Yield Securities, Restricted/Illiquid Securities, Derivatives, Leverage, Management
Show Risk Definitions
  Other Information
Inception Date: 1994-03-01
Portfolio Manager(s)
Mark E. Durbiano   (1994-03-01)
Mr. Durbiano joined Federated in 1982 and has been a Senior Portfolio Manager and a Senior Vice President of Federated Investment Management Company since 1996. From 1988 through 1995, Mr. Durbiano was a Portfolio Manager and a Vice President of Federated. Mr. Durbiano has received the Chartered Financial Analyst designation and an M.B.A. in Finance from the University of Pittsburgh.
Steven J. Wagner   (2018-04-30)
Mr. Wagner joined Federated in 1997 as an analyst in the high yield area and has been Senior Investment Analyst and Vice President of Federated Investment Management Company since 2003. Mr. Wagner received his B.S. from Boston College and his M.B.A. in Finance from the University of Pittsburgh.
Investment Advisor(s)
Federated Investment Management Company
Issuer
Federated
Subadvisor(s)
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Show Data Definitions

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