Morningstar® Investment Profile™   Morningstar®
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Federated Hermes High Income Bond II P
Release date as of 2024-04-30. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2024-04-30
Out of 600
High Yield Bond Funds
Morningstar®
Style Box™
What is this?
As of 2024-03-31
Total Fund Assets ($ Mil)
119.55
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 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.0
Bullet Bonds Bonds 97.1
Bullet Cash Cash 2.8
Bullet Other Other 0.1
Asset Allocation Rescaled Graph
Data through 2024-03-31
Morningstar Fixed-Income Sectors
% Fund
Government 0.00
Corporate 97.19
Securitized 0.00
Municipal 0.00
Cash & Equivalents 2.81
Derivative 0.00
Data through 2024-03-31
Credit Analysis
% Bonds
AAA 3.70
AA 0.00
A 0.00
BBB 2.20
BB 25.60
B 43.40
Below B 25.00
Not Rated 0.10
Data through 2024-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 1
Total Number of Bond Holdings 477
% of Net Assets in Top 10 Holdings 8.59
Turnover % (as of 2023-12-31) 16.00
30 Day SEC Yield % 6.78
Top Holdings
Maturity
Date
Shares
Value
$000
% of Net
Assets
Clarios Global LP 8.5% 2027-05-15 1,325 1,329 1.09
Clydesdale Acquisition Holdings Inc. 8.75% 2030-04-15 1,200 1,180 0.96
NFP Corp. 6.875% 2028-08-15 1,150 1,166 0.95
Medline Borrower LP 5.25% 2029-10-01 1,150 1,088 0.89
McAfee Corp 7.375% 2030-02-15 1,125 1,033 0.84
Minerva Merger Subordinated Inc. 6.5% 2030-02-15 1,125 1,030 0.84
Broadstreet Partners Inc 5.875% 2029-04-15 1,025 950 0.78
Ardonagh Group Finance Ltd. 8.875% 2032-02-15 950 939 0.77
Midas Opco Holdings LLC 5.625% 2029-08-15 1,000 909 0.74
1011778 B.C. Unlimited Liability Company / New Red Finance, Inc. 4% 2030-10-15 1,000 892 0.73
Data through 2024-03-31
  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)
Mark E. Durbiano, CFA, Senior Portfolio Manager, Head of the Domestic High Yield Group is responsible for portfolio management and research in the fixed income area, concentrating in the domestic high yield sector. Mr. Durbiano joined Federated in 1982 and has been Senior Portfolio Manager and Senior Vice President since 1996. He received a B.A. from Dickinson College and an M.B.A. from University of Pittsburgh. Mr. Durbiano has 38 years of investment experience.
Kathryn Glass   (2023-09-06)
Ms. Glass is a Vice President of Federated Investment. Ms. Glass joined Federated Hermes in 1999. She is a Chartered Financial Analyst. She received a B.A. from University of Pittsburgh, an M.A. from Cornell University and an M.S.I.A. from Carnegie Mellon University.
Randal Stuckwish   (2023-09-06)
Mr. Stuckwish, who joined Federated Hermes, Inc. in 2013, has been an Assistant Vice President of Federated Investment Management Company affiliate since 2018.
Investment Advisor(s)
Federated Investment Management Company
Issuer
Federated
Subadvisor(s)
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Show Data Definitions

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