Fund Evaluator:
Federated Hermes Intl Leaders IS (FGFLX)
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Best Performing in Foreign Large Blend Over the Last Year
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Fund Details
Federated Hermes Intl Leaders IS Overview
Federated Hermes Intl Leaders IS (FGFLX) is an actively managed International Equity Foreign Large Blend fund. Federated launched the fund in 2010.
The investment seeks long-term capital growth. The fund pursues its investment objective of long-term capital growth by investing primarily in a portfolio of equity securities issued by foreign companies that the fund's investment adviser, Federated Global Investment Management Corp. (the "Adviser"), has deemed as the best opportunities across its investable universe relative to the company's competitive position or its growth prospects. The Adviser expects that, normally, the fund will be invested primarily in foreign stocks in developed markets.
About Federated Hermes Intl Leaders IS (FGFLX)
There are 2 members of the management team with an average tenure of 14.39 years: Dariusz Czoch (2015), Richard Winkowski (2009). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI EAFE NR USD index with a weighting of 100% and Morningstar Foreign Large Bld Avg index with a weighting of 100%. Federated Hermes Intl Leaders IS has 83 securities in its portfolio. The top 10 holdings constitute 23.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Federated Hermes Intl Leaders IS is part of the Equity global asset class and is within the International Equity fund group. Federated Hermes Intl Leaders IS has 95.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 3.6%. There is 95.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Federated Hermes Intl Leaders IS has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $2 billion average for the Foreign Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FGFLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Federated Hermes Intl Leaders IS expense ratio is above average compared to funds in the Foreign Large Blend category. Federated Hermes Intl Leaders IS has an expense ratio of 0.79%, which is 16% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Federated Hermes Intl Leaders IS has a portfolio turnover rate of 66%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.
Recently, in the month of August 2026, Federated Hermes Intl Leaders IS returned 0.4%, which earned it a grade of F, as the Foreign Large Blend category had an average return of 2.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Federated Hermes Intl Leaders IS has a trailing yield of 2.24%, which is above the 2.13% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Federated Hermes Intl Leaders IS Grades
Year to date, the fund has returned 7.4%, 6.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 17.1% over the past year (grade of F), 15.4% over the past three years (grade of F) and 8.6% per year over the past five years (grade of C) and 9.7% per year over the past 10 years (grade of B).
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FGFLX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FGFLX Return (NAV) | 0.4% | 0.6% | 17.1% | 15.4% | 8.6% | 9.7% |
| FGFLX Grade | F | F | F | F | C | B |
| +/- Category | -1.6% | -2.6% | -5.2% | -2.8% | 0.1% | 0.4% |
| Foreign Large Blend Avg | 2.0% | 3.2% | 22.3% | 18.2% | 8.5% | 9.3% |
| FGFLX Tax Cost Ratio | na | na | 2.5% | 1.5% | 2.4% | 1.5% |
FGFLX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FGFLX Return (NAV) | 7.4% | 37.3% | -1.0% | 17.3% | -8.8% | 5.0% | 15.8% | 27.0% | -20.7% | 28.3% | -2.7% |
| FGFLX Grade | F | A | F | B | A | F | B | A | F | B | F |
| +/- Category | -6.5% | 6.8% | -5.9% | 1.1% | 7.5% | -5.1% | 4.0% | 4.1% | -5.4% | 1.9% | -3.6% |
| Foreign Large Blend Avg | 13.9% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | 13.3% |
| Total Risk Index: | 1.09 - Above Average |
| Category Risk Index: | 1.05 - High |
| Category Risk Grade: | F (84% Rank) |
| Beta: | 0.92 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $1477 Mil |
| Fund Total Assets: | $1,039 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 66% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 17.2 years | |||
| Average Tenure: 14.4 years | |||
| Managers (Year): Winkowski Richard (2009), Czoch Dariusz (2015) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 83 |
| % in Top 10 Holdings: | 23.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 95.3% |
Portfolio Allocation |
|
| Domestic Stock: | 3.6% |
| Foreign Stock: | 95.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.1% |
Purchase Information
| Fund Family: | Federated |
| Phone Number: | 800-341-7400 |
| Website: | www.federatedinvestors.com |
| Status: | Open |
| Inception Date: | June 21, 2010 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.79% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Federated Hermes International Leaders A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
