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PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
mutual fund
PMVTX
Payout Change
Pending
Price as of:
$8.73
+0.0
+0.0%
primary theme
Municipal Bond
share class
PMVTX (Mutual Fund)
PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
Payout Change
Pending
Price as of:
$8.73
+0.0
+0.0%
primary theme
Municipal Bond
share class
PMVTX (Mutual Fund)
PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
Payout Change
Pending
Price as of:
$8.73
+0.0
+0.0%
primary theme
Municipal Bond
share class
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.4%
1 yr return
1.6%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
0.8%
Net Assets
$186 M
Holdings in Top 10
20.3%
52 WEEK LOW AND HIGH
$8.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.58%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 12.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PMVTX - Profile
Distributions
- YTD Total Return 1.4%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 0.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.03%
- Dividend Yield 3.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePUTNAM MINNESOTA TAX EXEMPT INCOME FUND II
-
Fund Family NamePutnam Family of Funds
-
Inception DateMay 21, 2018
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPaul Drury
Fund Description
Investments
We invest mainly in bonds that pay interest that is exempt from federal income tax and Minnesota 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). Under normal circumstances, we invest at least 80% of the fund’s net assets in tax-exempt investments. Tax-exempt investments are issued by or for states, territories or possessions of the United States or by their political subdivisions, agencies, authorities or other government entities, and the income from these investments is exempt from both federal and Minnesota personal income tax. This investment policy cannot be changed without the approval of the fund’s shareholders. We may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments.
PMVTX - Performance
Return Ranking - Trailing
| Period | PMVTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.4% | -7.3% | 37.5% | 58.29% |
| 1 Yr | 1.6% | -7.4% | 37.6% | 61.18% |
| 3 Yr | -0.3%* | -11.8% | 5.1% | 28.35% |
| 5 Yr | 0.8%* | -7.4% | 1103.2% | 39.38% |
| 10 Yr | N/A* | -1.1% | 248.8% | 48.57% |
* Annualized
Return Ranking - Calendar
| Period | PMVTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.4% | -1.4% | 41.0% | 25.93% |
| 2022 | -10.3% | -39.7% | 0.3% | 37.88% |
| 2021 | -0.9% | -5.6% | 6.9% | 73.54% |
| 2020 | 1.9% | -2.6% | 310.0% | 41.39% |
| 2019 | 4.3% | 0.0% | 26.0% | 32.18% |
Total Return Ranking - Trailing
| Period | PMVTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.4% | -7.3% | 37.5% | 58.29% |
| 1 Yr | 1.6% | -7.4% | 37.6% | 61.18% |
| 3 Yr | -0.3%* | -11.8% | 5.1% | 28.35% |
| 5 Yr | 0.8%* | -7.4% | 1103.2% | 39.38% |
| 10 Yr | N/A* | -1.1% | 248.8% | 46.29% |
* Annualized
Total Return Ranking - Calendar
| Period | PMVTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.6% | -1.3% | 41.0% | 26.80% |
| 2022 | -8.1% | -39.7% | 1.1% | 35.97% |
| 2021 | 1.6% | -4.8% | 23761504.0% | 49.07% |
| 2020 | 3.8% | -1.5% | 17057.9% | 48.88% |
| 2019 | 6.7% | 0.2% | 3514.6% | 46.72% |
NAV & Total Return History
PMVTX - Holdings
Concentration Analysis
| PMVTX | Category Low | Category High | PMVTX % Rank | |
|---|---|---|---|---|
| Net Assets | 186 M | 3.22 M | 71.9 B | 74.06% |
| Number of Holdings | 178 | 4 | 13418 | 65.55% |
| Net Assets in Top 10 | 38.1 M | -317 M | 3.09 B | 72.87% |
| Weighting of Top 10 | 20.26% | 1.8% | 100.3% | 39.92% |
Top 10 Holdings
- FX.RT. MUNI BOND 2.63%
- FX.RT. MUNI BOND 2.38%
- MUNI PUT BOND ACT 2.15%
- FX.RT. MUNI BOND 2.12%
- FX.RT. MUNI BOND 1.97%
- FX.RT. MUNI BOND 1.92%
- FX.RT. MUNI BOND 1.82%
- FX.RT. MUNI BOND 1.80%
- FX.RT. MUNI BOND 1.75%
- FX.RT. MUNI BOND 1.72%
Asset Allocation
| Weighting | Return Low | Return High | PMVTX % Rank | |
|---|---|---|---|---|
| Bonds | 97.85% | 0.00% | 150.86% | 69.93% |
| Cash | 2.15% | -50.86% | 44.62% | 30.89% |
| Stocks | 0.00% | 0.00% | 99.77% | 50.34% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 41.84% |
| Other | 0.00% | -3.69% | 53.54% | 48.35% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 41.54% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PMVTX % Rank | |
|---|---|---|---|---|
| Municipal | 98.43% | 44.39% | 100.00% | 48.75% |
| Cash & Equivalents | 1.37% | 0.00% | 44.41% | 29.95% |
| Government | 0.24% | 0.00% | 52.02% | 2.70% |
| Derivative | 0.00% | -3.69% | 53.54% | 49.83% |
| Securitized | 0.00% | 0.00% | 5.93% | 46.39% |
| Corporate | 0.00% | 0.00% | 9.41% | 54.48% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PMVTX % Rank | |
|---|---|---|---|---|
| US | 97.85% | 0.00% | 142.23% | 67.49% |
| Non US | 0.00% | 0.00% | 23.89% | 45.06% |
PMVTX - Expenses
Operational Fees
| PMVTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.58% | 0.01% | 8.02% | 70.83% |
| Management Fee | 0.43% | 0.00% | 1.20% | 49.46% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| PMVTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| PMVTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
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.
| PMVTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 12.00% | 0.00% | 283.00% | 29.87% |
PMVTX - Distributions
Dividend Yield Analysis
| PMVTX | Category Low | Category High | PMVTX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.19% | 0.00% | 14.51% | 47.65% |
Dividend Distribution Analysis
| PMVTX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| PMVTX | Category Low | Category High | PMVTX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.03% | -0.53% | 5.33% | 46.16% |
Capital Gain Distribution Analysis
| PMVTX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.023 | OrdinaryDividend |
| Oct 31, 2024 | $0.022 | OrdinaryDividend |
| Sep 30, 2024 | $0.021 | OrdinaryDividend |
| Aug 30, 2024 | $0.024 | OrdinaryDividend |
| Jul 31, 2024 | $0.022 | OrdinaryDividend |
| Apr 30, 2024 | $0.022 | OrdinaryDividend |
| Mar 28, 2024 | $0.022 | OrdinaryDividend |
| Feb 29, 2024 | $0.022 | OrdinaryDividend |
| Jan 31, 2024 | $0.021 | OrdinaryDividend |
| Dec 29, 2023 | $0.022 | OrdinaryDividend |
| Dec 27, 2023 | $0.002 | OrdinaryDividend |
| Nov 30, 2023 | $0.022 | OrdinaryDividend |
| Oct 31, 2023 | $0.020 | OrdinaryDividend |
| Sep 29, 2023 | $0.022 | OrdinaryDividend |
| Aug 31, 2023 | $0.020 | OrdinaryDividend |
| Jul 31, 2023 | $0.018 | OrdinaryDividend |
| Jun 30, 2023 | $0.021 | OrdinaryDividend |
| May 31, 2023 | $0.020 | OrdinaryDividend |
| Apr 28, 2023 | $0.018 | OrdinaryDividend |
| Mar 31, 2023 | $0.021 | OrdinaryDividend |
| Feb 28, 2023 | $0.020 | OrdinaryDividend |
| Jan 31, 2023 | $0.018 | OrdinaryDividend |
| Dec 30, 2022 | $0.020 | OrdinaryDividend |
| Nov 30, 2022 | $0.020 | OrdinaryDividend |
| Oct 31, 2022 | $0.018 | OrdinaryDividend |
| Sep 30, 2022 | $0.019 | OrdinaryDividend |
| Aug 31, 2022 | $0.017 | OrdinaryDividend |
| Jul 29, 2022 | $0.017 | OrdinaryDividend |
| Jun 30, 2022 | $0.017 | OrdinaryDividend |
| May 31, 2022 | $0.017 | OrdinaryDividend |
| Apr 29, 2022 | $0.018 | OrdinaryDividend |
| Mar 31, 2022 | $0.016 | OrdinaryDividend |
| Feb 28, 2022 | $0.012 | OrdinaryDividend |
| Jan 31, 2022 | $0.014 | OrdinaryDividend |
| Dec 31, 2021 | $0.015 | OrdinaryDividend |
| Dec 29, 2021 | $0.015 | CapitalGainShortTerm |
| Dec 29, 2021 | $0.007 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.015 | OrdinaryDividend |
| Oct 29, 2021 | $0.015 | OrdinaryDividend |
| Sep 30, 2021 | $0.015 | OrdinaryDividend |
| Aug 31, 2021 | $0.015 | OrdinaryDividend |
| Jul 30, 2021 | $0.016 | OrdinaryDividend |
| Jun 30, 2021 | $0.016 | OrdinaryDividend |
| May 28, 2021 | $0.015 | OrdinaryDividend |
| Apr 30, 2021 | $0.016 | OrdinaryDividend |
| Mar 31, 2021 | $0.017 | OrdinaryDividend |
| Feb 26, 2021 | $0.016 | OrdinaryDividend |
| Jan 29, 2021 | $0.015 | OrdinaryDividend |
| Dec 31, 2020 | $0.036 | OrdinaryDividend |
| Nov 30, 2020 | $0.016 | OrdinaryDividend |
| Oct 30, 2020 | $0.018 | OrdinaryDividend |
| Sep 30, 2020 | $0.017 | OrdinaryDividend |
| Jul 31, 2020 | $0.019 | OrdinaryDividend |
| Jun 30, 2020 | $0.017 | OrdinaryDividend |
| Mar 31, 2020 | $0.018 | OrdinaryDividend |
| Jan 31, 2020 | $0.020 | OrdinaryDividend |
| Dec 31, 2019 | $0.018 | OrdinaryDividend |
| Nov 29, 2019 | $0.020 | OrdinaryDividend |
| Oct 31, 2019 | $0.019 | OrdinaryDividend |
| Sep 30, 2019 | $0.019 | OrdinaryDividend |
| Aug 30, 2019 | $0.021 | OrdinaryDividend |
| Jul 31, 2019 | $0.012 | CapitalGainLongTerm |
| Dec 27, 2018 | $0.006 | CapitalGainLongTerm |
PMVTX - Fund Manager Analysis
Managers
Paul Drury
Start Date
Tenure
Tenure Rank
Jul 31, 2002
19.85
19.9%
Paul M. 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
Start Date
Tenure
Tenure Rank
Dec 31, 2016
5.42
5.4%
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 | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
