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PTHYX Putnam Tax-Free High Yield B

  • Fund
  • PTHYX
  • Price as of: Jul 24, 2017
  • $12.57
  • - $0.00
  • - 0.00%
  • Category
  • High Yield Municipal Bonds

PTHYX - Profile

Vitals

  • YTD Return 3.4%
  • 3 Yr Annualized Return 4.2%
  • 5 Yr Annualized Return 3.8%
  • Net Assets $950 M
  • Holdings in Top 10 8.1%

52 WEEK LOW AND HIGH

$12.57
$12.11
$13.04

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.44%

SALES FEES

  • Front Load N/A
  • Deferred Load 5.00%

BROKERAGE FEES

  • Turnover 25.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

Closed to new investors as of 2017-04-03

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 3.4%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.40%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Putnam Tax Free High Yield Fund
  • Fund Family Name Putnam
  • Inception Date Sep 09, 1985
  • Shares Outstanding N/A
  • Share Class B
  • Currency USD
  • Domiciled Country United States
  • Manager Paul M. Drury

Fund Description

The fund invests mainly in bonds that pay interest that is exempt from federal income tax (but that may be subject to federal alternative minimum tax (AMT)), are a combination of below-investment-grade and investment-grade securities, and have intermediate- to long-term maturities (three years or longer). Under normal circumstances, the fund invests at least 80% of the fund's net assets in tax-exempt investments.

PTHYX - Performance

Return Ranking - Trailing

Period PTHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.4% 0.0% 7.0% 31.72% 3
1 Yr -1.0% -9.1% 12.2% 65.07% 4
3 Yr 4.2% * -0.6% 8.1% 61.81% 4
5 Yr 3.8% * -1.4% 6.8% 72.80% 4
10 Yr 4.0% * -0.6% 5.7% 48.62% 3

* Annualized


Return Ranking - Calendar

Period PTHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.1% -6.7% 0.0% 33.10% 3
2015 0.0% -2.0% 2.9% 36.11% 3
2014 8.7% 0.0% 13.1% 36.23% 3
2013 -9.6% -13.7% 0.0% 19.67% 3
2012 8.0% 0.0% 14.5% 38.46% 3

Total Return Ranking - Trailing

Period PTHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.4% 0.0% 7.0% 31.72% 3
1 Yr -5.8% -8.3% 9.2% 91.78% 5
3 Yr 3.3% * -0.6% 8.1% 75.00% 4
5 Yr 3.4% * -1.4% 6.8% 76.80% 4
10 Yr 4.0% * -0.6% 5.7% 41.28% 3

* Annualized


Total Return Ranking - Calendar

Period PTHYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.1% -5.0% 0.5% 37.24% 3
2015 0.1% -2.0% 6.8% 40.97% 3
2014 8.9% 0.0% 20.0% 39.13% 3
2013 -9.7% -13.7% 0.0% 24.59% 3
2012 8.1% 0.0% 18.2% 42.74% 3

NAV & Total Return History

PTHYX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

PTHYX Category Low Category High PTHYX % Rank Quintile
Net Assets 950 M 152 K 14.6 B 14.29% 3
Number of Holdings 464 52 2631 12.24% 2
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 PTHYX % Rank Quintile
Bonds
99.64% 87.28% 100.43% 6.12% 2
Cash
0.36% -0.45% 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% 1

Bond Sector Breakdown

Weighting Category Low Category High PTHYX % Rank Quintile
Municipal
97.73% 90.36% 100.95% 13.61% 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% -0.45% 10.76% 21.77% 4
Derivative
0.00% -2.83% 0.00% 0.68% 1
Securitized
0.00% 0.00% 0.00% 0.68% 1

Bond Geographic Breakdown

Weighting Category Low Category High PTHYX % Rank Quintile
US
99.64% 87.28% 100.43% 6.12% 2
Non US
0.00% -0.14% 0.00% 0.68% 1

PTHYX - Expenses

Operational Fees

PTHYX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.44% 0.27% 44.43% 18.37% 4
Management Fee 0.47% 0.00% 0.75% 9.52% 2
12b-1 Fee 0.85% 0.00% 1.00% 4.50% 4
Administrative Fee N/A 0.00% 0.35% N/A N/A

Sales Fees

PTHYX Fees (% of AUM) Category Low Category High PTHYX Rank Quintile
Front Load N/A 1.00% 4.75% N/A N/A
Deferred Load 5.00% 0.60% 5.50% 3.77% 4

Trading Fees

PTHYX Fees (% of AUM) Category Low Category High PTHYX 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.

PTHYX Fees (% of AUM) Category Low Category High PTHYX Rank Quintile
Turnover 25.00% 4.00% 172.00% 10.20% 4

PTHYX - Distributions

Dividend Yield Analysis

PTHYX Category Low Category High PTHYX % Rank Quintile
Dividend Yield 0.4% 0.16% 0.96% 34.97% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

PTHYX Category Low Category High PTHYX % Rank Quintile
Net Income Ratio 3.40% 1.33% 6.68% 50.34% 4

Capital Gain Distribution Analysis

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

PTHYX - 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