FMN vs PATN
FMN vs PATN
Federated Hermes Premier Municipal Income Fund vs Pacer Nasdaq International Patent Leaders ETF
Quick Verdict
PATN has a lower expense ratio. PATN delivered stronger 1-year returns. PATN offers more diversification with 101 holdings.
Side-by-Side Comparison
| Metric | FMN | PATN | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.65% | |
| AUM | $16M | $194M | |
| Dividend Yield | 4.29% | 1.59% | |
| Holdings | 150 | 106 | |
| YTD Return | +3.51% | +28.86% | |
| 1Y Return | +9.90% | +52.39% | |
| 3Y Return (annualized) | +7.05% | - | |
| 5Y Return (annualized) | -2.30% | - | |
| Volatility (annualized) | 14.7% | 21.0% | |
| Max Drawdown | -53.4% | -16.8% | |
| Fund Family | Federated Hermes | Pacer ETFs | |
| Category | Tax Preferred | Equity | |
| Inception | Dec 20, 2002 | Sep 16, 2024 |
FMN vs PATN Performance
Federated Hermes Premier Municipal Income Fund (FMN) is a ETF from Federated Hermes and Pacer Nasdaq International Patent Leaders ETF (PATN) is a ETF from Pacer ETFs. Over the past year FMN returned +9.90% while PATN returned +52.39%. Year to date, FMN is up 3.51% versus a gain of 28.86% for PATN.
Risk: Volatility and Drawdowns
PATN has been the more volatile fund, with annualized monthly volatility of 21.0% compared with 14.7% for FMN. 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 -16.8% for PATN. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FMN charges 0.75% per year while PATN charges 0.65%. On a $10,000 position that is $75 vs $65 annually, a gap of $10 per year that compounds over a long holding period. On income, FMN currently yields 4.29% against 1.59% for PATN.
Holdings Overlap
FMN and PATN share 0 holdings out of 186 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 PATN?
FMN has an expense ratio of 0.75% while PATN charges 0.65%. PATN is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, FMN or PATN?
Over the past year FMN returned +9.90% vs +52.39% for PATN, so PATN leads on 1-year performance. Over the longest common window we track (2 years), FMN annualized -0.21% vs +37.68% for PATN. Past performance does not guarantee future results.
Which is riskier, FMN or PATN?
PATN has been the more volatile fund at 21.0% annualized versus 14.7% for FMN. Worst drawdown: FMN -53.4% vs PATN -16.8%.
Should I hold both FMN and PATN?
FMN and PATN have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMN and PATN?
FMN and PATN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 186 unique securities.
Which pays a higher dividend, FMN or PATN?
FMN yields 4.29% while PATN yields 1.59%, so FMN currently pays the higher dividend yield.
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