FMN vs SAWS
Federated Hermes Premier Municipal Income Fund vs AAM Sawgrass US Small Cap Quality Growth ETF
Quick Verdict
SAWS has a lower expense ratio. SAWS delivered stronger 1-year returns. FMN offers more diversification with 85 holdings.
Side-by-Side Comparison
| Metric | FMN | SAWS | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.55% | |
| AUM | $16M | $8M | |
| Dividend Yield | 4.29% | 0.02% | |
| Holdings | 150 | 72 | |
| YTD Return | +3.51% | +16.18% | |
| 1Y Return | +9.90% | +25.78% | |
| 3Y Return (annualized) | +7.05% | - | |
| 5Y Return (annualized) | -2.30% | - | |
| Volatility (annualized) | 14.7% | 18.3% | |
| Max Drawdown | -53.4% | -22.0% | |
| Fund Family | Federated Hermes | Advisors Asset Management, Inc. | |
| Category | Tax Preferred | Equity | |
| Inception | Dec 20, 2002 | Jul 30, 2024 |
FMN vs SAWS Performance
Federated Hermes Premier Municipal Income Fund (FMN) is a ETF from Federated Hermes and AAM Sawgrass US Small Cap Quality Growth ETF (SAWS) is a ETF from Advisors Asset Management, Inc.. Over the past year FMN returned +9.90% while SAWS returned +25.78%. Year to date, FMN is up 3.51% versus a gain of 16.18% for SAWS.
Risk: Volatility and Drawdowns
SAWS has been the more volatile fund, with annualized monthly volatility of 18.3% 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 -22.0% for SAWS. 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FMN charges 0.75% per year while SAWS charges 0.55%. On a $10,000 position that is $75 vs $55 annually, a gap of $20 per year that compounds over a long holding period. On income, FMN currently yields 4.29% against 0.02% for SAWS.
Holdings Overlap
FMN and SAWS share 0 holdings out of 156 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 SAWS?
FMN has an expense ratio of 0.75% while SAWS charges 0.55%. SAWS is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, FMN or SAWS?
Over the past year FMN returned +9.90% vs +25.78% for SAWS, so SAWS leads on 1-year performance. Over the longest common window we track (2 years), FMN annualized -0.21% vs +13.57% for SAWS. Past performance does not guarantee future results.
Which is riskier, FMN or SAWS?
SAWS has been the more volatile fund at 18.3% annualized versus 14.7% for FMN. Worst drawdown: FMN -53.4% vs SAWS -22.0%.
Should I hold both FMN and SAWS?
FMN and SAWS have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMN and SAWS?
FMN and SAWS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 156 unique securities.
Which pays a higher dividend, FMN or SAWS?
FMN yields 4.29% while SAWS yields 0.02%, so FMN currently pays the higher dividend yield.
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