FMN vs GTOS
Federated Hermes Premier Municipal Income Fund vs Invesco Short Duration Total Return Bond ETF
Quick Verdict
GTOS has a lower expense ratio. FMN delivered stronger 1-year returns. GTOS offers more diversification with 294 holdings.
Side-by-Side Comparison
| Metric | FMN | GTOS | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.30% | |
| AUM | $16M | $122M | |
| Dividend Yield | 4.29% | 4.55% | |
| Holdings | 150 | 1,047 | |
| YTD Return | +3.51% | -0.70% | |
| 1Y Return | +9.03% | +1.16% | |
| 3Y Return (annualized) | +6.84% | +4.68% | |
| 5Y Return (annualized) | -2.46% | - | |
| Volatility (annualized) | 14.7% | 1.9% | |
| Max Drawdown | -53.4% | -1.8% | |
| Fund Family | Federated Hermes | Invesco (US) | |
| Category | Tax Preferred | Fixed Income | |
| Inception | Dec 20, 2002 | Dec 9, 2022 |
FMN vs GTOS Performance
Federated Hermes Premier Municipal Income Fund (FMN) is a ETF from Federated Hermes and Invesco Short Duration Total Return Bond ETF (GTOS) is a ETF from Invesco (US). Over the past year FMN returned +9.03% while GTOS returned +1.16%. Year to date, FMN is up 3.51% versus a loss of 0.70% for GTOS.
Over three years, FMN compounded at +6.84% per year against +4.68% for GTOS. Across the full 4-year window we track, GTOS has the edge at +4.34% annualized vs -0.21%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMN has been the more volatile fund, with annualized monthly volatility of 14.7% compared with 1.9% for GTOS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.4% for FMN and -1.8% for GTOS. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMN charges 0.75% per year while GTOS charges 0.30%. On a $10,000 position that is $75 vs $30 annually, a gap of $45 per year that compounds over a long holding period. On income, FMN currently yields 4.29% against 4.55% for GTOS.
Holdings Overlap
FMN and GTOS share 0 holdings out of 379 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FMN or GTOS?
FMN has an expense ratio of 0.75% while GTOS charges 0.30%. GTOS is the cheaper option. On a $10,000 investment, that is $45 per year of difference.
Which performed better, FMN or GTOS?
Over the past year FMN returned +9.03% vs +1.16% for GTOS, so FMN leads on 1-year performance. Over the longest common window we track (4 years), FMN annualized -0.21% vs +4.34% for GTOS. Past performance does not guarantee future results.
Which is riskier, FMN or GTOS?
FMN has been the more volatile fund at 14.7% annualized versus 1.9% for GTOS. Worst drawdown: FMN -53.4% vs GTOS -1.8%.
Should I hold both FMN and GTOS?
FMN and GTOS have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMN and GTOS?
FMN and GTOS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 379 unique securities.
Which pays a higher dividend, FMN or GTOS?
FMN yields 4.29% while GTOS yields 4.55%, so GTOS currently pays the higher dividend yield.
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