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PXOHX Putnam OH Tax Exempt Income A

  • Fund
  • PXOHX
  • Price as of: Apr 23, 2018
  • $8.81
  • - $0.01
  • - 0.11%
  • Category
  • Single State Municipal Bonds

PXOHX - Profile

Vitals

  • YTD Return -2.1%
  • 3 Yr Annualized Return 1.6%
  • 5 Yr Annualized Return 2.0%
  • Net Assets $127 M
  • Holdings in Top 10 18.6%

52 WEEK LOW AND HIGH

$8.81
$8.81
$9.05

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.83%

SALES FEES

  • Front Load 4.00%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 15.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Single State Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni Ohio

Distributions

  • YTD Total Return -2.1%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.81%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Putnam Ohio Tax Exempt Income Fund
  • Fund Family Name Putnam
  • Inception Date Oct 23, 1989
  • Shares Outstanding N/A
  • Share Class A
  • 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 and Ohio personal income tax (but that may be subject to federal alternative minimum tax (AMT)), are investment-grade in quality, and have intermediate- to long-term maturities (i.e., three years or longer). It invests at least 80% of the fund's net assets in tax-exempt investments.

PXOHX - Performance

Return Ranking - Trailing

Period PXOHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.1% -22.9% 6.2% 35.87% 3
1 Yr 2.1% -13.2% 11.9% 40.53% 3
3 Yr 1.6% * -2.8% 8.2% 45.33% 3
5 Yr 2.0% * -2.7% 7.1% 46.84% 3
10 Yr 3.6% * 0.1% 6.9% 49.37% 3

* Annualized


Return Ranking - Calendar

Period PXOHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 1.5% -12.8% 6.8% 29.04% 2
2016 -2.6% -4.9% 7.9% 30.25% 3
2015 -0.8% -7.9% 7.4% 48.14% 4
2014 4.7% -9.5% 15.6% 49.84% 4
2013 -7.0% -20.2% 7.4% 34.96% 3

Total Return Ranking - Trailing

Period PXOHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.1% -22.9% 6.2% 35.87% 3
1 Yr -2.0% -17.4% 8.6% 76.95% 4
3 Yr 0.3% * -3.7% 8.2% 77.34% 4
5 Yr 1.1% * -3.0% 7.1% 71.89% 4
10 Yr 3.1% * 0.1% 6.9% 64.84% 4

* Annualized


Total Return Ranking - Calendar

Period PXOHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 1.5% -12.8% 6.8% 28.93% 2
2016 -2.6% -4.9% 7.6% 32.41% 3
2015 -0.8% -7.9% 8.0% 53.11% 4
2014 4.7% -9.5% 17.8% 52.68% 4
2013 -7.0% -20.2% 7.4% 37.40% 3

NAV & Total Return History

PXOHX - Holdings

Filings data as of: Dec 31, 2017

Concentration Analysis

PXOHX Category Low Category High PXOHX % Rank Quintile
Net Assets 127 M 2.11 M 17.8 B 25.00% 4
Number of Holdings 137 16 4051 13.18% 3
Net Assets in Top 10 24.3 M 696 K 2.65 B 28.00% 4
Weighting of Top 10 18.6% 3.7% 73.5% 25.19% 4

Top 10 Holdings

  1. North Royalton Ohio City Sch D Go Ult 5% 2.72%
  2. Ohio St Ser A 5% 2.41%
  3. Grant Cnty Wash Pub Util Dist 2% 2.00%
  4. Hamilton Cnty Ohio Sales Tax Sales Tax 1.95%
  5. Cleveland Ohio Pub Pwr Sys Rev Pub Pwr S 1.86%
  6. Toledo-Lucas Cnty Ohio Port Au Por 6.45% 1.69%
  7. Fairview Park Ohio City Sch Di Go Ult 5% 1.65%
  8. Lorain Cnty Ohio Hosp Rev Hosp 5% 1.58%
  9. Cleveland Ohio Pkg Facs Rev Parkin 5.25% 1.43%
  10. Franklin Cnty Ohio Rev Bds 5% 1.34%

Asset Allocation

Weighting Category Low Category High PXOHX % Rank Quintile
Bonds
96.34% -0.05% 103.67% 17.44% 5
Cash
3.66% -3.67% 99.63% 5.91% 1
Stocks
0.00% 0.00% 0.52% 0.48% 1
Preferred Stocks
0.00% 0.00% 0.00% 0.10% 1
Other
0.00% -0.36% 33.35% 4.94% 2
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 1

Bond Sector Breakdown

Weighting Category Low Category High PXOHX % Rank Quintile
Municipal
96.34% 0.00% 106.78% 17.73% 5
Cash & Equivalents
3.66% -3.67% 99.63% 5.62% 1
Derivative
0.00% -5.47% 0.00% 0.10% 1
Securitized
0.00% 0.00% 0.00% 0.10% 1
Corporate
0.00% 0.00% 6.46% 2.81% 2
Government
0.00% -11.15% 2.84% 1.16% 1

Bond Geographic Breakdown

Weighting Category Low Category High PXOHX % Rank Quintile
US
95.48% -0.05% 103.67% 18.99% 4
Non US
0.86% 0.00% 45.96% 12.98% 3

PXOHX - Expenses

Operational Fees

PXOHX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.83% 0.09% 5.19% 12.61% 3
Management Fee 0.44% 0.00% 1.30% 2.13% 2
12b-1 Fee 0.22% 0.00% 1.00% 2.54% 2
Administrative Fee N/A 0.00% 0.33% N/A N/A

Sales Fees

PXOHX Fees (% of AUM) Category Low Category High PXOHX Rank Quintile
Front Load 4.00% 1.00% 5.75% 2.17% 2
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

PXOHX Fees (% of AUM) Category Low Category High PXOHX Rank Quintile
Max Redemption Fee N/A 0.50% 2.00% N/A N/A

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.

PXOHX Fees (% of AUM) Category Low Category High PXOHX Rank Quintile
Turnover 15.00% 0.00% 157.00% 8.00% 2

PXOHX - Distributions

Dividend Yield Analysis

PXOHX Category Low Category High PXOHX % Rank Quintile
Dividend Yield 0.3% 0.00% 0.99% 21.18% 4

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

PXOHX Category Low Category High PXOHX % Rank Quintile
Net Income Ratio 2.81% 0.00% 6.13% 13.00% 3

Capital Gain Distribution Analysis

PXOHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PXOHX - Managers

Paul M. Drury

Manager

Start Date

Jul 31, 2002

Tenure

15.68

Tenure Rank

3.3%

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

1.25

Tenure Rank

11.8%

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

0.0

Category High

38.4

Category Average

9.63

Category Mode

3.3