# EDGAR Filing Document

**Accession Number:** 0000912763
**File Stem:** 0001623632-25-001660
**Filing Date:** 2025-11
**Character Count:** 30009
**Document Hash:** fc9f261a13d4dacc3f60c1760124cbab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001623632-25-001660.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001623632-25-001660

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**EFFECTIVENESS DATE**: 20251125

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Total Return Series, Inc.
- **CENTRAL INDEX KEY:** 0000912763

**ORGANIZATION NAME:**
- **EIN:** 256429335
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-50773
- **FILM NUMBER:** 251516315

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED TOTAL RETURN SERIES INC
- **DATE OF NAME CHANGE:** 19950407

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSIGHT INSTITUTIONAL SERIES INC
- **DATE OF NAME CHANGE:** 19940118

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STRATEGIC INVESTMENT SERIES INC
- **DATE OF NAME CHANGE:** 19931019

## Series and Classes Contracts Data

### Federated Hermes Ultrashort Bond Fund (Series ID: S000010898)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000030205 | Class A Shares       | FULAX           |
| C000030206 | Institutional Shares | FULIX           |
| C000030207 | Service Shares       | FULBX           |
| C000212356 | Class R6 Shares      | FULLX           |

**Summary Prospectus**

***November 30, 2025***

![](imgaaf4ab5d1.jpg)

*Disclosure contained herein relates to all classes of the Fund, as listed below, unless otherwise noted.* 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Share Class** \| Ticker | **A** \| FULAX | **Institutional** \| FULIX | **Service** \| FULBX | **R6** \| FULLX |

---

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Federated Hermes Ultrashort Bond Fund

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A Portfolio of Federated Hermes Total Return Series, Inc.

Before you invest, you may want to review the Fund's Prospectus, which contains more information about the Fund and its risks. You can find the Fund's Prospectus and other information about the Fund, including the Statement of Additional Information and most recent reports to shareholders, online at FederatedHermes.com/us/FundInformation. You can also get this information at no cost by calling 1-800-341-7400, by sending an email request via Contact Us on FederatedHermes.com/us, or from a financial intermediary through which Shares of the Fund may be bought or sold. The Fund's Prospectus and Statement of Additional Information, both dated November 30, 2025, are incorporated by reference into this Summary Prospectus.

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A mutual fund seeking to provide total return consistent with current income by investing primarily in a diversified portfolio of investment-grade debt securities.

As with all mutual funds, the Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy of this Prospectus. Any representation to the contrary is a criminal offense.

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**Not FDIC Insured ▪ May Lose Value ▪ No Bank Guarantee**

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Fund Summary Information

**Federated Hermes Ultrashort Bond Fund (the "Fund")**

**RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE**

The Fund's investment objective is to provide total return consistent with current income.

**RISK/RETURN SUMMARY: FEES AND EXPENSES**

This table describes the fees and expenses that you may pay if you buy, hold and sell Class A Shares (A), Institutional Shares (IS), Service Shares (SS) and Class R6 Shares (R6) of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.**

**Shareholder Fees (fees paid directly from your investment)** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **A** | **IS** | **SS** | **R6** |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of <br> offering price)<br>|  |  |  |  |
| Maximum Deferred Sales Charge (Load) (as a percentage of original <br> purchase price or redemption proceeds, as applicable)<br>|  |  |  |  |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends <br> (and other Distributions) (as a percentage of offering price)<br>|  |  |  |  |
| Redemption Fee (as a percentage of amount redeemed, if applicable) |  |  |  |  |
| Exchange Fee |  |  |  |  |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **A** | **IS** | **SS** | **R6** |
| Management Fee | 0.29% | 0.29% | 0.29% | 0.29% |
| Distribution (12b-1) Fee |  |  |  |  |
| Other Expenses | 0.35%<sup>1</sup> <br>| 0.16%<sup>2</sup> <br>| 0.26%<sup>3</sup> <br>| 0.12% |
| Acquired Fund Fees and Expenses | 0.01% | 0.01% | 0.01% | 0.01% |
| Total Annual Fund Operating Expenses | 0.65% | 0.46% | 0.56% | 0.42% |
| Fee Waivers and/or Expense Reimbursements<sup>4</sup> | (0.13)% | (0.09)% | (0.09)% | (0.06)% |
| Total Annual Fund Operating Expenses After Fee Waivers and/or <br> Expense Reimbursements<br>| 0.52% | 0.37% | 0.47% | 0.36% |

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The Fund will only incur and pay up to 0.15% of certain service fees (shareholder services/account

administrations fees) for the A class of the Fund. The Fund may incur and pay such fees on its A class

of up to a maximum of 0.25%. The A class of the Fund will not incur and pay such fees to exceed

0.15% until such time as approved by the Fund's Board of Directors (the "Directors").

The Fund may incur and pay certain service fees (shareholder services/account administration fees)

on its IS class of up to a maximum amount of 0.25%. No such fees are currently incurred and paid by

the IS class of the Fund. The IS class of the Fund will not incur and pay such fees until such time as

approved by the Directors.

**1**

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The Fund will only incur and pay up to 0.10% of certain service fees (shareholder services/account

administrations fees) for the SS class of the Fund. The Fund may incur and pay such fees on its

SS class of up to a maximum of 0.25%. The SS class of the Fund will not incur and pay such fees to

exceed 0.10% until such time as approved by the Directors.

The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts

of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding

Acquired Fund Fees and Expenses, interest expense, extraordinary expenses and proxy-related

expenses, if any) paid by the Fund's A, IS, SS and R6 classes (after the voluntary waivers and/or

reimbursements) will not exceed 0.51%, 0.36%, 0.46% and 0.35% (the "Fee Limit"), respectively, up

to but not including the later of (the "Termination Date"): (a) December 1, 2026; or (b) the date of

the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate

terminating or increasing these arrangements prior to the Termination Date, these arrangements may

only be terminated or the Fee Limit increased prior to the Termination Date with the approval of

the Directors.

**Example**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Share Class** | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| A | &nbsp;&nbsp; $66 | &nbsp;&nbsp; $208 | &nbsp;&nbsp; $362 | &nbsp;&nbsp; $810 |
| IS | &nbsp;&nbsp; $47 | &nbsp;&nbsp; $148 | &nbsp;&nbsp; $258 | &nbsp;&nbsp; $579 |
| SS | &nbsp;&nbsp; $57 | &nbsp;&nbsp; $179 | &nbsp;&nbsp; $313 | &nbsp;&nbsp; $701 |
| R6 | &nbsp;&nbsp; $43 | &nbsp;&nbsp; $135 | &nbsp;&nbsp; $235 | &nbsp;&nbsp; $530 |

---

**Portfolio Turnover**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 30% of the average value of its portfolio. The portfolio turnover rate includes securities purchased in the new issue market and held to maturity, which typically do not incur transaction costs. Excluding these securities from the portfolio turnover rate calculation would result in a lower Fund portfolio turnover rate.

**2**

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**RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE**

**What are the Fund's Main Investment Strategies?**

The Fund invests primarily (that is, more than 50%) in investment-grade, fixed-income securities, including but not limited to asset-backed (including mortgage-backed) securities and corporate debt securities, but may invest up to 35% of its assets in noninvestment-grade, fixed-income securities. When selecting investments for the Fund, the Fund can invest in securities directly or in other investment companies, including, for example, funds advised by the Fund's investment adviser (the "Adviser") or its affiliates ("Underlying Funds"). The Adviser seeks to enhance the Fund's performance by allocating relatively more of its portfolio to the sector that the Adviser expects to offer the best balance between total return and risk. The Adviser may invest a portion of the Fund's assets in foreign securities (both investment-grade and noninvestment-grade, including, but not limited to, government and corporate investments). The Fund may invest in hybrid instruments and derivative contracts to implement its investment strategies. There can be no assurance that the Fund's use of derivative contracts or hybrid instruments will work as intended. Derivative investments made by the Fund are included within the Fund's 80% policy (as described below) and are calculated at market value. The Fund may also use Collateralized Mortgage Obligations (CMOs) for hedging purposes.

Although the value of the Fund's Shares will fluctuate, the Adviser actively manages the Fund's portfolio seeking to manage the magnitude of fluctuation by limiting the Fund's dollar-weighted average effective duration to one year or less. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. Under normal market conditions, the Fund's dollar-weighted average effective maturity is expected to be 18 months or less.

Certain of the government securities in which the Fund invests are not backed by the full faith and credit of the U.S. government, such as those issued by the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the Federal National Mortgage Association ("Fannie Mae") and the Federal Home Loan Bank System. These entities are, however, supported through federal subsidies, loans or other benefits. The Fund may also invest in government securities that are supported by the full faith and credit of the U.S. government, such as those issued by the Government National Mortgage Association ("Ginnie Mae"). Finally, the Fund may invest in government securities that have no explicit financial support, but that are regarded as having implied support because the federal government sponsors their activities.

The Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed-income investments. The Fund will notify shareholders at least 60 days in advance of any change in this investment policy.

**3**

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**What are the Main Risks of Investing in the Fund?**

All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:

■ **Interest Rate Risk.** Prices of fixed-income securities generally fall when interest rates rise. The longer the duration of a fixed-income security, the more susceptible it is to interest-rate risk. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates.

■ **Issuer Credit Risk.** It is possible that interest or principal on securities will not be paid when due. Noninvestment-grade securities generally have a higher default risk than investment-grade securities. Such non-payment or default may reduce the value of the Fund's portfolio holdings, its share price and its performance.

■ **Counterparty Risk.** Counterparty risk includes the possibility that a party to a transaction involving the Fund will fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategy.

■ **Prepayment and Extension Risk.** When homeowners prepay their mortgages in response to lower interest rates, the Fund will be required to reinvest the proceeds at the lower interest rates available. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed-income securities. When interest rates rise, homeowners are less likely to prepay their mortgages. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security, and the price of mortgage-backed securities may decrease more than the price of other fixed income securities when interest rates rise.

■ **Call Risk.** Call risk is the possibility that an issuer may redeem a fixed-income security before maturity (a "call") at a price below its current market price. An increase in the likelihood of a call may reduce the security's price.

■ **Liquidity Risk.** The noninvestment-grade securities and collateralized mortgage obligations (CMOs) in which the Fund invests may be less readily marketable and may be subject to greater fluctuation in price than other securities. Liquidity risk also refers to the possibility that the Fund may not be able to sell a security or close out a derivative contract when it wants to. If this happens, the Fund will be required to continue to hold the security or keep the position open, and the Fund could incur losses.

■ **Risk Associated with Complex CMOs.** CMOs with complex or highly variable prepayment terms, such as companion classes, IOs, POs, Inverse Floaters and residuals, generally entail greater market, prepayment and liquidity risks than other mortgage-backed securities.

**4**

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■ **Risk Associated with Noninvestment-Grade Securities.** Securities rated below investment grade, may be subject to greater economic, interest rate, credit and liquidity risks than investment-grade securities. These securities are considered speculative with respect to the issuer's ability to pay interest and repay principal.

■ **Risk Related to the Economy.** The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Global economic, political and financial conditions, including geopolitical conflicts, and other events (e.g., wars, sanctions and terrorism), legislative changes, industry or economic trends and developments, natural disasters or public health risks, such as epidemics or pandemics, may, from time to time and for varying periods of time, have a significant effect on the economies of many nations, including the U.S., and financial markets generally and cause the Fund to experience volatility, illiquidity, loss of value, shareholder redemptions and/or other potentially adverse effects. Among other investments, lower-grade bonds may be particularly sensitive to changes in the economy.

■ **Risk of Foreign Investing.** Because the Fund invests in securities issued by foreign companies and national governments, the Fund's Share price may be more affected by foreign economic and political conditions, taxation policies and accounting and auditing standards than would otherwise be the case.

■ **Leverage Risk.** Leverage risk is created when an investment, which includes, for example, an investment in a derivative contract, exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain.

■ **Risk of Investing in Derivative Contracts and Hybrid Instruments.** Derivative contracts and hybrid instruments involve risks different from, or possibly greater than, risks associated with investing directly in securities and other traditional investments. Specific risk issues related to the use of such contracts and instruments include valuation and tax issues, increased potential for losses and/or costs to the Fund and a potential reduction in gains to the Fund. Each of these issues is described in greater detail in this Prospectus. Derivative contracts and hybrid instruments may also involve other risks described in this Prospectus, such as interest rate, credit, liquidity and leverage risks.

■ **Mortgage-Backed Securities (MBS) Risk.** MBS have unique risks. A rise in interest rates may cause the value of MBS held by the Fund to decline. The mortgage loans underlying MBS generally are subject to a greater rate of principal prepayments in a declining interest rate environment and to a lesser rate of principal prepayments in an increasing interest rate environment.

■ **Asset-Backed Securities (ABS) Risk.** The value of asset-backed securities (ABS) may be affected by certain factors such as interest rate risk, credit risk, prepayment risk and the availability of information concerning the pool of underlying assets and its structure. Under certain market conditions, ABS

**5**

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may be less liquid and may be difficult to value. Movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain types of ABS. ABS can also be subject to the risk of default on the underlying assets.

■ **Credit Enhancement Risk.** The securities in which the Fund invests may be subject to credit enhancement (for example, guarantees, letters of credit or bond insurance). If the credit quality of the credit enhancement provider (for example, a bank or bond insurer) is downgraded, the rating on a security credit enhanced by such credit enhancement provider also may be downgraded. Having multiple securities credit enhanced by the same enhancement provider will increase the adverse effects on the Fund that are likely to result from a downgrading of, or a default by, such an enhancement provider. Adverse developments in the banking and bond insurance industries also may negatively affect the Fund.

■ **Exchange-Traded Funds Risk.** An investment in an exchange-traded fund (ETF) generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange-traded) that has the same investment objectives, strategies and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down.

■ **Underlying Fund Risk.** The risk that the Fund's performance is closely related to the risks associated with the securities and other investments held by the Underlying Fund and that the ability of the Fund to achieve its investment objective will depend upon the ability of the Underlying Fund to achieve its investment objectives.

■ **Technology Risk.** The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.

The Shares offered by this Prospectus are not deposits or obligations of any bank, are not endorsed or guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.

**Performance: Bar Chart and Table**

**Risk/Return Bar Chart**

The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. The Average Annual Total Return table shows returns *averaged* over the stated periods, and includes comparative performance information for each class shown with a

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broad-based securities market index. The Fund's performance is also compared to a secondary index to show how the Fund's performance compares with the returns of an index with similar investments. *The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.* Updated performance information for the Fund is available under the "Products" section at FederatedHermes.com/us or by calling 1-800-341-7400.

![](fusbfpro27771.jpg)

*The Fund's IS class total return for the nine-month period from January 1, 2025 to September 30, 2025, was 4.20%.*

*Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 3.49% (quarter ended June 30, 2020). Its lowest quarterly return was (2.76)% (quarter ended March 31, 2020).*

**Average Annual Total Return Table**

The Fund's R6 class commenced operations on May 29, 2019. For the periods prior to the commencement of operations of the Fund's R6 class, the performance information shown below is for the Fund's IS class. The performance of the IS class has not been adjusted to reflect the expenses applicable to the R6 class since the R6 class has a lower expense ratio than the expense ratio of the IS class. In addition to Return Before Taxes, Return After Taxes is shown for the Fund's IS class to illustrate the effect of federal taxes on Fund returns. After-Tax returns are shown only for IS class, and after-tax returns for A, SS and R6 classes will differ from those shown for the IS class. *Actual after-tax returns depend on each investor's personal tax situation, and are likely to differ from those shown.* After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical **federal** income and capital gains tax rates. These after-tax returns do **not** reflect the effect of any applicable **state** and **local** taxes. After-tax returns are not relevant to investors holding Shares through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan.

**7**

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(For the Period Ended December 31, 2024)

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| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1 Year** | **5 Years** | **10 Years** |
| **A:** |  |  |  |
| Return Before Taxes<sup>1</sup> <br>| &nbsp;&nbsp; 6.10% | &nbsp;&nbsp; 2.58%  | &nbsp;&nbsp; 1.93% |
| **IS:** |  |  |  |
| Return Before Taxes | &nbsp;&nbsp; 6.15% | &nbsp;&nbsp; 2.72% | &nbsp;&nbsp; 2.29% |
| Return After Taxes on Distributions | &nbsp;&nbsp; 4.06% | &nbsp;&nbsp; 1.71% | &nbsp;&nbsp; 1.40% |
| Return After Taxes on Distributions and Sale of Fund Shares | &nbsp;&nbsp; 3.61% | &nbsp;&nbsp; 1.64% | &nbsp;&nbsp; 1.36% |
| **SS:** |  |  |  |
| Return Before Taxes | &nbsp;&nbsp; 6.16% | &nbsp;&nbsp; 2.64% | &nbsp;&nbsp; 2.02% |
| **R6:** |  |  |  |
| Return Before Taxes | &nbsp;&nbsp; 6.16%  | &nbsp;&nbsp; 2.73% | &nbsp;&nbsp; 2.29% |
| **Bloomberg US Aggregate Bond Index**<sup>2</sup><br> (reflects no deduction for fees, expenses or taxes)<br>| &nbsp;&nbsp; 1.25% | &nbsp;&nbsp; (0.33)% | &nbsp;&nbsp; 1.35% |
| **Bloomberg US Short-Term Government/Corporate Index**<sup>3</sup><br> (reflects no deduction for fees, expenses or taxes)<br>| &nbsp;&nbsp; 5.31% | &nbsp;&nbsp; 2.49% | &nbsp;&nbsp; 1.92% |
| **Lipper Ultra-Short Obligations Funds Average**<sup>4</sup> | &nbsp;&nbsp; 5.77% | &nbsp;&nbsp; 2.64% | &nbsp;&nbsp; 2.10% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Effective December 1, 2019, the maximum 2% sales charge (load) imposed on Class A Shares* 

*purchases (as a percentage of offering price) has been eliminated. The performance of the* 

*A class has been adjusted to reflect the elimination of the sales charge.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*The Bloomberg US Aggregate Bond Index is a broad-based benchmark that measures the* 

*investment-grade, U.S. dollar denominated, fixed-rate, taxable bond market, including* 

*Treasuries, government-related and corporate securities, fixed-rate agency mortgage-backed* 

*securities, asset-backed securities and commercial mortgage-backed securities.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*The Bloomberg US Short-Term Government/Corporate Index represents securities that have* 

*fallen out of the U.S. Government/Corporate Index because of the standard minimum one year* 

*maturity constraint. Sectors include treasuries, agencies, industrials, utilities and financial* 

*institutions.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Lipper figures represent the average of the total returns reported by all the mutual funds* 

*designated by Lipper, Inc. as falling into the respective category indicated. They do not reflect* 

*sales charges.*

**FUND MANAGEMENT**

The Fund's Investment Adviser is Federated Investment Management Company.

Nicholas S. Tripodes, CFA, Senior Portfolio Manager, has been the Fund's portfolio manager since November of 2017.

Daniel Mastalski, CFA, Portfolio Manager, has been the Fund's portfolio manager since June of 2022.

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**purchase and sale of fund shares**

You may purchase, redeem or exchange Shares of the Fund on any day the New York Stock Exchange is open. Shares may be purchased through a financial intermediary firm that has entered into a Fund selling and/or servicing agreement with the Distributor or an affiliate ("Financial Intermediary") or directly from the Fund, by wire or by check. Please note that certain purchase restrictions may apply. Redeem or exchange Shares through a financial intermediary or directly from the Fund by telephone at 1-800-341-7400 or by mail.

**A Class**

The minimum investment amount for the Fund's A class is generally $1,500 for initial investments and $100 for subsequent investments. The minimum initial and subsequent investment amounts for Individual Retirement Accounts are generally $250 and $100, respectively. There is no minimum initial or subsequent investment amount for employer-sponsored retirement plans. Certain types of accounts are eligible for lower minimum investments. The minimum investment amount for Systematic Investment Programs is $50.

**IS & SS Class**

The minimum initial investment amount for the Fund's IS and SS classes is generally $1,000,000 and there is no minimum subsequent investment amount. Certain types of accounts are eligible for lower minimum investments. The minimum investment amount for Systematic Investment Programs is $50.

**R6 Class**

There are no minimum initial or subsequent investment amounts required. The minimum investment amount for Systematic Investment Programs is $50.

**Tax Information**

**A, IS & SS Classes**

The Fund's distributions are taxable as ordinary income or capital gains except when your investment is through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan.

**R6 Class**

The Fund's distributions are taxable as ordinary income or capital gains except when your investment is through a tax-advantaged investment plan.

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**Payments to Broker-Dealers and Other Financial Intermediaries**

**A, IS & SS Classes**

If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and/or its related companies may pay the intermediary for the sale of Fund Shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

**R6 Class**

Class R6 Shares do not make any payments to financial intermediaries, either from Fund assets or from the investment adviser and its affiliates.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

![](fhilogok11p.jpg)

Federated Hermes Ultrashort Bond Fund <br>Federated Hermes Funds <br>4000 Ericsson Drive <br>Warrendale, PA 15086-7561

Contact us at **FederatedHermes.com/us** <br>or call 1-800-341-7400.

Federated Securities Corp., Distributor

*Investment Company Act File No. 811-7115*

*CUSIP 31428Q762* <br>*CUSIP 31428Q747* <br>*CUSIP 31428Q754* <br>*CUSIP 31428Q713*

*Q450335 (11/25)*© 2025 Federated Hermes, Inc.

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