Federated Hermes Total Return Bond Fund
Federated Hermes Total Return Series, Inc. · Series S000010897 · 6 share classes
data updated 2026-08-10
Fund profile
As filed in the prospectus · 2026 Q1
The Funds investment objective is to provide total return.
The fund actively manages a fixed-income portfolio seeking total return in excess of the Bloomberg US Aggregate Bond Index through a five-part process: duration positioning based on interest rate outlook, yield curve strategy, sector allocation, individual security selection, and currency management across government, corporate, mortgage-backed, asset-backed, high-yield and international sectors. The fund invests primarily in investment-grade U.S. dollar fixed-income securities but may allocate up to 25% to high-yield debt, up to 20% to non-U.S. dollar and emerging market securities, and holds securities directly or through other investment companies including affiliated funds. Because the fund's outperformance depends on the success of its five-part decision process and security selections, there is no assurance the fund will exceed its benchmark.
| Share class | Gross | Net |
|---|---|---|
| FTRFX | 0.95% | 0.69% |
| TLRAX | 0.97% | 0.94% |
| TLRCX | 1.46% | 1.46% |
| FTRKX | 1.14% | 1.13% |
| FTRBX | 0.45% | 0.39% |
| FTRLX | 0.40% | 0.38% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 45.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Bonds | 57.27% |
| Stocks | 35.34% |
| Securitized | 6.11% |
| Cash & short-term | 1.20% |
| Derivatives | 0.03% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: United States Treasury ×4, Freddie Mac, Government National Mortgage Association, ORACLE CORP, OMNICOM GROUP INC
Largest exited: United States Treasury ×2, SOUTHERN CO, FORD MOTOR CREDIT CO LLC, COREBRIDGE GLOB FUNDING, CROWN CASTLE INC, LOCKHEED MARTIN CORP, CITIGROUP INC
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — |
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-02-28
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 90.7% |
| Floating rate | 9.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.4% |
| 1-3y | 11.4% |
| 3-5y | 13.7% |
| 5-10y | 41.2% |
| 10y+ | 31.2% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 73% |
| Credit spreads | 27% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.57 yr |
| High yield | -0.02 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.72 yr | 17% |
| 5 yr | 1.34 yr | 31% |
| 10 yr | 1.38 yr | 32% |
| 30 yr | 0.86 yr | 20% |
3 mo is NEGATIVE (-0.07 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.13 yr | 8% |
| 5 yr | 0.42 yr | 27% |
| 10 yr | 0.65 yr | 42% |
| 30 yr | 0.35 yr | 23% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.07 | +0.01 | +0.00 | $8.7k | $54 |
| 1 yr | +0.72 | +0.13 | -0.00 | $198.3k | -$100 |
| 5 yr | +1.34 | +0.44 | -0.02 | $689.1k | -$38.4k |
| 10 yr | +1.38 | +0.64 | +0.00 | $998.5k | $3.5k |
| 30 yr | +0.86 | +0.35 | +0.00 | $550.4k | $664 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Federated Core Trust - Federated Mortgage Core Portfolio | 20.82% | $3.23B | 376.2M |
| — | Federated Core Trust III - Federated Project and Trade Finance Core Fund | 7.99% | $1.24B | 139.1M |
| — | United States Treasury4.00% · due 2035-11-15 | 6.82% | $1.06B | — |
| — | United States Treasury4.13% · due 2031-10-31 | 4.88% | $758.65M | — |
| — | Federated Core Trust - High Yield Bond Portfolio | 2.76% | $429.42M | 75.3M |
| — | United States Treasury4.25% · due 2054-02-15 | 2.54% | $394.92M | — |
| — | FEDERATED CORE TR | 2.47% | $384.16M | 42.1M |
| — | United States Treasury4.13% · due 2053-08-15 | 2.40% | $372.84M | — |
| — | United States Treasury3.75% · due 2031-08-31 | 1.74% | $270.19M | — |
| — | United States Treasury4.25% · due 2034-11-15 | 1.59% | $247.42M | — |
Top 10 positions are 54.03% of net assets, top 25 64.73%, across 362 issuers.
See more of this fund's book
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