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PTFYX Putnam Tax-Free High Yield Y

  • Fund
  • PTFYX
  • Price as of: Dec 09, 2016
  • $12.23
  • - $0.01
  • - 0.08%
  • Category
  • High Yield Municipal Bonds

PTFYX - Profile

Vitals

  • YTD Return -2.7%
  • 3 Yr Annualized Return 6.1%
  • 5 Yr Annualized Return 5.5%
  • Net Assets $988 M
  • Holdings in Top 10 7.7%

52 WEEK LOW AND HIGH

$12.23
$12.14
$13.12

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.59%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 25.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

High Yield Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return -2.7%
  • 3 Yr Annualized Total Return 6.1%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.24%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Putnam Tax Free High Yield Fund
  • Fund Family Name Putnam
  • Inception Date Jan 02, 2008
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Thalia Meehan

PTFYX - Performance

Return Ranking - Trailing

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.7% -4.7% 3.6% 24.14% 2
1 Yr 1.5% -1.7% 12.2% 29.45% 2
3 Yr 6.1% * 1.4% 8.2% 44.29% 3
5 Yr 5.5% * 1.8% 8.4% 47.15% 3
10 Yr 4.4% * 0.2% 5.2% 10.91% 1

* Annualized


Return Ranking - Calendar

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.0% -2.0% 2.9% 35.86% 3
2014 8.6% 0.0% 13.1% 36.96% 3
2013 -9.6% -13.7% 0.0% 18.03% 2
2012 8.1% 0.0% 14.5% 35.04% 3
2011 4.7% -5.1% 8.6% 37.93% 3

Total Return Ranking - Trailing

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.7% -4.7% 3.6% 29.66% 3
1 Yr 1.5% -5.4% 9.2% 17.81% 1
3 Yr 6.1% * 0.6% 8.2% 31.43% 2
5 Yr 5.5% * 1.6% 8.4% 38.21% 2
10 Yr 4.4% * 0.2% 5.2% 9.09% 1

* Annualized


Total Return Ranking - Calendar

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.1% -2.0% 6.8% 41.38% 4
2014 8.9% 0.0% 20.0% 39.86% 3
2013 -9.6% -13.7% 0.0% 23.77% 3
2012 8.1% 0.0% 18.2% 39.32% 3
2011 4.7% -5.1% 19.4% 39.66% 3

NAV & Total Return History

PTFYX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

PTFYX Category Low Category High PTFYX % Rank Quintile
Net Assets 988 M 152 K 12.2 B 12.93% 3
Number of Holdings 493 58 2489 11.56% 2
Net Assets in Top 10 83.9 M 45.4 K 1.58 B 18.37% 4
Weighting of Top 10 7.7% 7.3% 27.9% 28.57% 5

Top 10 Holdings

  1. Tobacco Settlement Auth 5.375% 0.93%
  2. New York Liberty Dev Corp Libe Rev Bd 5% 0.88%
  3. Delaware St Health Facs Auth 0.53% 0.80%
  4. Metropolitan Wash D C Arpts Au Rev Bds 0.78%
  5. Golden St Tob Securitization C Tobacco S 0.76%
  6. Hawaii St Dept Budget & Fin Sp Rev 6.5% 0.73%
  7. Tobacco Settlement Fing Corp N Asset 5% 0.72%
  8. Golden St Tob Securitization C To 5.125% 0.69%
  9. Tobacco Settlement Fing Corp N Ass 4.75% 0.69%
  10. Harris Cnty Tex Cultural Ed Fa Var 0.53% 0.68%

Asset Allocation

Weighting Category Low Category High PTFYX % Rank Quintile
Bonds
99.37% 84.14% 101.37% 8.84% 2
Cash
0.63% -1.37% 15.84% 20.41% 4
Other
0.00% -0.32% 3.26% 11.56% 3
Convertible Bonds
0.00% 0.00% 0.00% 0.68% 2
Preferred Stocks
0.00% 0.00% 0.52% 2.04% 2
Stocks
0.00% 0.00% 2.97% 4.08% 2

Bond Sector Breakdown

Weighting Category Low Category High PTFYX % Rank Quintile
Municipal
97.26% 84.14% 101.74% 15.65% 3
Corporate
1.08% 0.00% 1.22% 2.04% 1
Government
1.03% -3.40% 3.42% 10.88% 3
Cash & Equivalents
0.63% -1.37% 15.84% 20.41% 4
Securitized
0.00% 0.00% 0.66% 2.04% 2
Derivative
0.00% -0.04% 0.00% 0.68% 2

Bond Geographic Breakdown

Weighting Category Low Category High PTFYX % Rank Quintile
US
99.37% 84.14% 101.37% 8.84% 2
Non US
0.00% -0.14% 0.00% 0.68% 2

PTFYX - Expenses

Operational Fees

PTFYX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.59% 0.27% 44.43% 48.98% 1
Management Fee 0.47% 0.00% 0.75% 8.84% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.35% N/A N/A

Sales Fees

PTFYX Fees (% of AUM) Category Low Category High PTFYX Rank Quintile
Front Load N/A 1.00% 4.75% N/A N/A
Deferred Load N/A 0.60% 5.50% N/A N/A

Trading Fees

PTFYX Fees (% of AUM) Category Low Category High PTFYX Rank Quintile
Max Redemption Fee 1.00% 0.75% 2.00% 10.00% 2

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PTFYX Fees (% of AUM) Category Low Category High PTFYX Rank Quintile
Turnover 25.00% 4.00% 120.00% 8.16% 4

PTFYX - Distributions

Dividend Yield Analysis

PTFYX Category Low Category High PTFYX % Rank Quintile
Dividend Yield 0.5% 0.16% 0.96% 10.49% 1

Dividend Distribution Analysis

PTFYX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PTFYX Category Low Category High PTFYX % Rank Quintile
Net Income Ratio 4.24% 1.34% 6.68% 27.89% 2

Capital Gain Distribution Analysis

PTFYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

PTFYX - Managers

Thalia Meehan

Manager

Start Date

Oct 13, 2006

Tenure

10.14

Tenure Rank

8.0%

Ms. Meehan is a Portfolio Manager within Putnam's Tax Exempt Fixed Income Group. Ms. Meehan has served on the National Federation of Municipal Analysts' Board of Governors and is a member of Putnam's Diversity Advisory Council, the Boston Municipal Analyst Forum, and the Boston Security Analysts Society, as well as the Society of Municipal Analysts. In 2002, she received the Meritorious Service Award from the National Federation of Municipal Analysts. Ms. Meehan, who joined Putnam's Tax Exempt Bond Group in 1989, is a CFA charterholder.


Paul M. Drury

Lead Manager

Start Date

Jun 01, 2002

Tenure

14.51

Tenure Rank

2.2%

Mr. Drury is a Portfolio Manager in the Tax Exempt Fixed Income group. In this role, he is responsible for managing several sectors within the municipal market. He is also a Portfolio Manager of Putnam’s taxexempt funds. Mr. Drury, a CFA charterholder, has been in the investment industry since he joined Putnam in 1989.


Tenure Analysis

Category Low

0.2

Category High

27.9

Category Average

7.7

Category Mode

1.9