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PTFYX Putnam Tax-Free High Yield Y

  • Fund
  • PTFYX
  • Price as of: Aug 18, 2017
  • $12.63
  • + $0.01
  • + 0.08%
  • Category
  • High Yield Municipal Bonds

PTFYX - Profile

Vitals

  • YTD Return 3.7%
  • 3 Yr Annualized Return 5.1%
  • 5 Yr Annualized Return 4.7%
  • Net Assets $950 M
  • Holdings in Top 10 8.1%

52 WEEK LOW AND HIGH

$12.63
$12.14
$13.07

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 3.7%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 4.7%
  • 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 Paul M. Drury

PTFYX - Performance

Return Ranking - Trailing

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.7% -0.2% 6.9% 25.52% 2
1 Yr -0.2% -9.1% 12.2% 38.36% 2
3 Yr 5.1% * 0.2% 8.1% 40.97% 3
5 Yr 4.7% * -0.7% 6.8% 48.00% 3
10 Yr 4.9% * 1.1% 5.7% 11.01% 1

* Annualized


Return Ranking - Calendar

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.1% -6.7% 0.0% 32.41% 3
2015 0.0% -2.0% 2.9% 36.11% 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

Total Return Ranking - Trailing

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.7% -0.2% 6.9% 25.52% 2
1 Yr -0.2% -8.3% 9.2% 25.34% 2
3 Yr 5.1% * 0.7% 8.1% 30.56% 2
5 Yr 4.7% * 1.4% 6.8% 36.00% 2
10 Yr 4.9% * 1.1% 5.7% 9.17% 1

* Annualized


Total Return Ranking - Calendar

Period PTFYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.1% -5.0% 0.5% 36.55% 3
2015 0.1% -2.0% 6.8% 41.67% 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

NAV & Total Return History

PTFYX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

PTFYX Category Low Category High PTFYX % Rank Quintile
Net Assets 950 M 152 K 14.6 B 14.29% 3
Number of Holdings 464 52 2631 12.24% 3
Net Assets in Top 10 76.4 M 45.4 K 1.68 B 18.37% 4
Weighting of Top 10 8.1% 6.5% 30.6% 27.89% 5

Top 10 Holdings

  1. Tobacco Settlement Auth 5.375% 1.08%
  2. Golden St Tob Securitization C Tobacco S 0.88%
  3. Hawaii St Dept Budget & Fin Sp Rev 6.5% 0.82%
  4. Illinois St Go Bds 5% 0.82%
  5. Tobacco Settlement Fing Corp N Ass 4.75% 0.80%
  6. Golden St Tob Securitization C To 5.125% 0.79%
  7. Chicago Ill Go Bds 6% 0.79%
  8. Buckeye Ohio Tob Settlement Fi To 5.875% 0.73%
  9. Tobacco Settlement Fing Corp N Asset 5% 0.71%
  10. Jefferson Cnty Ala Swr Rev Swr Rev W 0.71%

Asset Allocation

Weighting Category Low Category High PTFYX % Rank Quintile
Bonds
99.64% 87.28% 104.55% 6.12% 2
Cash
0.36% -4.55% 10.76% 21.77% 4
Stocks
0.00% 0.00% 2.97% 4.08% 2
Preferred Stocks
0.00% 0.00% 0.58% 2.72% 2
Other
0.00% -0.32% 3.26% 10.20% 3
Convertible Bonds
0.00% 0.00% 0.00% 0.68% 2

Bond Sector Breakdown

Weighting Category Low Category High PTFYX % Rank Quintile
Municipal
97.73% 90.36% 102.23% 14.29% 3
Government
1.06% -2.63% 4.37% 12.24% 2
Corporate
0.85% 0.00% 1.56% 2.72% 1
Cash & Equivalents
0.36% -4.55% 10.76% 21.77% 4
Derivative
0.00% -2.83% 0.00% 0.68% 1
Securitized
0.00% 0.00% 0.00% 0.68% 2

Bond Geographic Breakdown

Weighting Category Low Category High PTFYX % Rank Quintile
US
99.64% 87.28% 104.55% 6.12% 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% 50.34% 1
Management Fee 0.47% 0.00% 0.75% 9.52% 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% 172.00% 10.20% 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% 1.33% 6.68% 24.49% 2

Capital Gain Distribution Analysis

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

PTFYX - Managers

Paul M. Drury

Lead Manager

Start Date

Jun 01, 2002

Tenure

15.09

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.


Garrett Hamilton

Manager

Start Date

Dec 31, 2016

Tenure

0.5

Tenure Rank

21.9%

Mr. Hamilton has been employed by Putnam since 2016 as a Portfolio Manager. Prior to joining Putnam, Mr. Hamilton was a Portfolio Manager at BNY Mellon from 2010 to 2016.


Tenure Analysis

Category Low

0.3

Category High

28.5

Category Average

7.89

Category Mode

2.5