# Federated Hermes Max-Cap Index Fund Institutional Shares (FISPX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/fispx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Federated Hermes · Asset class: Equity - Strategy: Passive Index · Inception: 1990-07-02 This fund primarily concentrates its investments in the common stocks that constitute the Standard & Poor's 500 Index. Additionally, it possesses the discretion to utilize derivative instruments, including but not limited to futures agreements, to fulfill its strategic investment objectives. ## Key Facts | Metric | Value | |---|---| | Price | $9.68 | | Expense Ratio | 0.37% | | Assets Under Management | $283.8M | | NAV | $9.68 | | Holdings Count | — | | Distribution Yield (TTM) | 7.03% | | Annual Distribution (TTM) | $0.68 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $7.92 – $9.77 | | Beta | 1.02 | ## Latest Distribution - Amount: $0.0163 /share - Ex-date: 2026-09-15 - Pay date: 2026-09-16 ## Frequently Asked Questions ### What does FISPX invest in? This fund primarily concentrates its investments in the common stocks that constitute the Standard & Poor's 500 Index. Additionally, it possesses the discretion to utilize derivative instruments, including but not limited to futures agreements, to fulfill its strategic investment objectives. ### What is the expense ratio of FISPX? Federated Hermes Max-Cap Index Fund Institutional Shares (FISPX) charges an expense ratio of 0.37%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is FISPX? Federated Hermes Max-Cap Index Fund Institutional Shares (FISPX) manages $283.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is FISPX actively managed or an index fund? FISPX is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (FISPX's is 0.37%) because there's no security selection cost. ### When was FISPX launched? Federated Hermes Max-Cap Index Fund Institutional Shares (FISPX) launched in July 1990 and is managed by Federated Hermes. ### How has FISPX performed? FISPX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does FISPX pay a dividend? Federated Hermes Max-Cap Index Fund Institutional Shares (FISPX) currently distributes little or no income. Trailing-twelve-month yield is 7.03%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does FISPX pay dividends? Federated Hermes Max-Cap Index Fund Institutional Shares pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is FISPX's dividend yield? FISPX's trailing-twelve-month yield is 7.03%, calculated from the sum of dividends over the past year divided by the current price. ### When is FISPX's next ex-dividend date? The most recently announced ex-dividend date for FISPX was 2026-09-15. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will FISPX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.37% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does FISPX charge its expense ratio? The expense ratio is deducted in tiny daily slices from FISPX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does FISPX cost more than a fund like VOO? FISPX is a passive index fund (current expense ratio 0.37%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to FISPX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as FISPX (0.37%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/fispx - Distribution history: https://www.dividenddata.com/funds/fispx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/fispx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/fispx/expenses - Peer comparison: https://www.dividenddata.com/funds/fispx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.