# Portfolio overlap — FULIX vs FLRN Comparing **Federated Hermes Ultrashort Bond Fund** (2026-03-31) and **State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF** (2026-03-31). - Shared positions: 67 - Federated Hermes Ultrashort Bond Fund covered by State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF: 0.08703303405625208380473475780 - State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF covered by Federated Hermes Ultrashort Bond Fund: 0.08703303405625208380473475781 ## Federated Hermes Ultrashort Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Federated Hermes Government Obligations Tax-Managed Fund, Institutional Class | 0.059939 | | | FEDERATED CORE TR FEDERATED BANK LOAN CORE FUND | 0.037117 | | | FEDERATED CORE TR III FEDERATED PROJ+TRADE FIN CORE | 0.024882 | | | FEDERATED CORE TR MUTUAL FUND | 0.009221 | | | Government National Mortgage Association | 0.008526 | | | Government National Mortgage Association | 0.007251 | | | FNMA, REMIC, Series 2025-70, Class FD | 0.007018 | | | Fannie Mae REMICS | 0.006773 | | | Government National Mortgage Association | 0.006475 | | | Freddie Mac REMICS | 0.006470 | | | U.S. Treasury Bills | 0.006312 | | | Freddie Mac REMICS | 0.006296 | | | U.S. Treasury Bills | 0.006255 | | | U.S. Treasury Bills | 0.006199 | | | U.S. Treasury Bills | 0.006150 | | | FR RQ0056 | 0.005939 | | | ORL Trust, Series 2024-GLKS, Class B | 0.005828 | | | NAVSL 2021-BA A 144A 0.94% 07-15-69 | 0.005788 | | | JW Commercial Mortgage Trust, Series 2024-MRCO, Class C | 0.005571 | | | PFS Financing Corp. | 0.005529 | | | Government National Mortgage Association | 0.005516 | | | SDART 2025-3 D | 0.005502 | | | NAVSL 2021-FA A 144A 1.11% 02-18-70 | 0.005496 | | | Fidelity National Information Services, Inc. | 0.005491 | | | AMERICAN EXPRESS CO SR UNSECURED 11/26 VAR | 0.005467 | ✓ | | Fannie Mae REMICS | 0.005334 | | | Government National Mortgage Association | 0.005332 | | | Fannie Mae REMICS | 0.005325 | | | FR SD8420 | 0.005282 | | | SDART 2025-1 D | 0.005275 | | | SDART 2024-2 D | 0.005223 | | | MS F 04/13/28 MTN | 0.005084 | ✓ | | BANK OF NOVA SCOTIA THE | 0.005071 | ✓ | | JPMORGAN CHASE JPM Float 01/24/29 | 0.005056 | ✓ | | Government National Mortgage Association | 0.005053 | | | Santander Drive Auto Receivables Trust 2026-1 | 0.004880 | | | AmeriCredit Automobile Receivables Trust 2023-2 | 0.004864 | | | SDART 2024-5 D 5.14% 02-17-32 | 0.004864 | | | FR SD8431 | 0.004830 | | | NextGear Floorplan Master Owner Trust | 0.004812 | | | NELNET STUDENT LOAN TRUST NSLT 2021 DA AFL 144A | 0.004795 | | | Ford Motor Credit Co. LLC | 0.004723 | | | Freddie Mac REMICS | 0.004499 | | | NAVSL 2021-CA A 144A 1.06% 10-15-69 | 0.004495 | | | Freddie Mac REMICS | 0.004445 | | | Drive Auto Receivables Trust, Series 2025-1, Class D | 0.004337 | | | BX Commercial Mortgage Trust 2026-CSMO | 0.004323 | | | Freddie Mac REMICS | 0.004313 | | | CMO | 0.004305 | | | Huntington Bank Auto Credit-Linked Notes Series 2026-1 | 0.004301 | | ## State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | State Street Navigator Securities Lending Portfolio II | 0.031348 | | | European Bank for Reconstruction & Development | 0.011323 | | | International Bank for Reconstruction & Development | 0.009129 | | | INTL BK RECON + DEVELOP SR UNSECURED 01/27 VAR | 0.008160 | | | EUROPEAN BANK FOR RECONSTRUCTION DEVELOPMENT | 0.008013 | | | INTL BK RECON + DEVELOP SR UNSECURED 09/26 VAR | 0.007356 | | | INTERNATIONAL FINANCE CORP | 0.007313 | | | EUROPEAN BK RECON + DEV UNSECURED 04/26 VAR | 0.007306 | | | EUROPEAN BANK FOR RECONSTRUCTION DEVELOPMENT | 0.007014 | | | KOMMUNALBANKEN AS | 0.006455 | | | INTL BK RECON + DEVELOP SR UNSECURED 06/27 VAR | 0.006401 | | | INTER AMERICAN DEVELOPMENT BANK | 0.006233 | | | INTER-AMERICAN DEVELOPMENT BANK VARIABLE RATE 02/15/2029 | 0.006231 | | | INTER AMERICAN DEVELOPMENT BANK | 0.006208 | | | INTER AMERICAN DEVELOPMENT BANK | 0.006150 | | | INTER AMERICAN DEVELOPMENT BANK | 0.006088 | | | International Bank for Reconstruction & Development | 0.006020 | | | KOMMUNALBANKEN AS | 0.005946 | | | KOMMUNALBANKEN AS | 0.005843 | | | INTER AMERICAN DEVELOPMENT BANK | 0.005813 | | | INTER AMERICAN DEVELOPMENT BANK | 0.005802 | | | International Bank for Reconstruction & Development | 0.005769 | | | International Bank for Reconstruction & Development | 0.005699 | | | ASIAN DEVELOPMENT BANK | 0.005603 | | | International Bank for Reconstruction & Development | 0.005368 | | | International Bank for Reconstruction & Development | 0.005274 | | | INTER-AMERICAN DEVELOPMENT BANK VARIABLE RATE 04/12/2027 | 0.005271 | | | ASIAN DEVELOPMENT BANK | 0.004953 | | | INTL BK RECON + DEVELOP INTL BK RECON + DEVELOP | 0.004826 | | | COMMONWEALTH BANK OF AUSTRALIA | 0.004763 | | | ASIAN DEVELOPMENT BANK | 0.004762 | | | SVENSK EXPORTKREDIT AB | 0.004589 | | | INTERNATIONAL FINANCE CORP | 0.004483 | | | TOYOTA MOTOR CREDIT CORP SR UNSECURED 03/27 VAR | 0.004194 | | | ASIAN DEVELOPMENT BANK SR UNSECURED 06/26 VAR | 0.004041 | | | CITIBANK NA SR UNSECURED 05/27 VAR | 0.004006 | | | AUSTRALIA NEW ZEALAND BANKING GROUP LTD | 0.003942 | | | UBS GROUP AG FRN SOFR+84 12/23/2029 144A | 0.003838 | | | International Bank for Reconstruction & Development | 0.003682 | | | NORDIC INVESTMENT BANK | 0.003678 | | | UNITED OVERSEAS BANK LTD SR UNSECURED 144A 04/28 VAR | 0.003664 | | | COMMONWEALTH BANK OF AUSTRALIA | 0.003650 | | | MORGAN STANLEY BK NA SALT LAKE FRN SOFR+94 07/14/2028 | 0.003643 | | | MORGAN STANLEY PVT BANK SR UNSECURED 07/28 VAR | 0.003453 | | | International Bank for Reconstruction & Development | 0.003288 | | | EXPORT DEVELOPMENT CANADA | 0.003274 | | | INTERNATIONAL FINANCE CORP | 0.003262 | | | MS F 04/13/28 MTN | 0.003237 | ✓ | | WFC F 04/22/28 MTN | 0.003235 | | | GS F 10/28/27 GMTN | 0.003160 | | ## Sources - N-PORT (fund A) — accession `0000912763-26-000014` (as of 2026-03-31) - N-PORT (fund B) — accession `0001410368-26-055591` (as of 2026-03-31) --- _Informational only — not investment advice. 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