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Putnam Strategic Intermediate Municipal Fund
mutual fund
PPNAX
Payout Change
Pending
Price as of:
$13.95
+0.0
+0.0%
primary theme
Municipal Bond
share class
PPNAX (Mutual Fund)
Putnam Strategic Intermediate Municipal Fund
Payout Change
Pending
Price as of:
$13.95
+0.0
+0.0%
primary theme
Municipal Bond
share class
PPNAX (Mutual Fund)
Putnam Strategic Intermediate Municipal Fund
Payout Change
Pending
Price as of:
$13.95
+0.0
+0.0%
primary theme
Municipal Bond
share class
Name
As of 12/23/2024Price
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
1.8%
1 yr return
1.9%
3 Yr Avg Return
-0.5%
5 Yr Avg Return
1.5%
Net Assets
$1.36 B
Holdings in Top 10
14.2%
52 WEEK LOW AND HIGH
$14.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.90%
SALES FEES
Front Load 4.00%
Deferred Load N/A
TRADING FEES
Turnover 78.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/23/2024Price
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
PPNAX - Profile
Distributions
- YTD Total Return 1.8%
- 3 Yr Annualized Total Return -0.5%
- 5 Yr Annualized Total Return 1.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.63%
- Dividend Yield 3.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePutnam Strategic Intermediate Municipal Fund
-
Fund Family NamePutnam Family of Funds
-
Inception DateJan 03, 1994
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPaul Drury
Fund Description
Investments
We invest mainly in bonds that pay interest that is exempt from federal income tax (but that may be subject to federal alternative minimum tax (“AMT”)). We normally maintain an average dollar-weighted maturity between three and ten years. The fund may invest broadly in municipal bonds of any duration (a measure of the sensitivity of a bond’s price to interest rate changes), maturity and credit quality although the bonds we invest in are mainly investment-grade in quality. We may also invest in investments that are below-investment-grade (sometimes referred to as “junk bonds”), which can be more sensitive to changes in markets, credit conditions, and interest rates, and may be considered speculative. Under normal circumstances, we invest at least 80% of the fund’s net assets in tax-exempt investments. Investments paying interest subject to the federal AMT for individuals are considered tax-exempt investments for purposes of this policy. This investment policy cannot be changed without the approval of the fund’s shareholders. The fund may invest up to 20% of its net assets in securities the income on which is subject to federal income tax and may invest without limit in investments the income on which is subject to the AMT. 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.
PPNAX - Performance
Return Ranking - Trailing
| Period | PPNAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.8% | -7.3% | 37.5% | 44.12% |
| 1 Yr | 1.9% | -7.4% | 37.6% | 46.47% |
| 3 Yr | -0.5%* | -11.8% | 5.1% | 33.47% |
| 5 Yr | 1.5%* | -7.4% | 1103.2% | 7.01% |
| 10 Yr | 2.4%* | -1.1% | 248.8% | 10.15% |
* Annualized
Return Ranking - Calendar
| Period | PPNAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.7% | -1.4% | 41.0% | 17.71% |
| 2022 | -8.9% | -39.7% | 0.3% | 26.21% |
| 2021 | -1.0% | -5.6% | 6.9% | 75.74% |
| 2020 | -0.5% | -2.6% | 310.0% | 97.90% |
| 2019 | 3.2% | 0.0% | 26.0% | 74.01% |
Total Return Ranking - Trailing
| Period | PPNAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.8% | -7.3% | 37.5% | 44.12% |
| 1 Yr | 1.9% | -7.4% | 37.6% | 46.47% |
| 3 Yr | -0.5%* | -11.8% | 5.1% | 33.47% |
| 5 Yr | 1.5%* | -7.4% | 1103.2% | 7.01% |
| 10 Yr | 2.4%* | -1.1% | 248.8% | 10.15% |
* Annualized
Total Return Ranking - Calendar
| Period | PPNAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.7% | -1.3% | 41.0% | 23.03% |
| 2022 | -7.2% | -39.7% | 1.1% | 28.05% |
| 2021 | 3.1% | -4.8% | 23761504.0% | 15.33% |
| 2020 | 7.0% | -1.5% | 17057.9% | 3.22% |
| 2019 | 7.9% | 0.2% | 3514.6% | 15.77% |
NAV & Total Return History
PPNAX - Holdings
Concentration Analysis
| PPNAX | Category Low | Category High | PPNAX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.36 B | 3.22 M | 71.9 B | 24.80% |
| Number of Holdings | 705 | 4 | 13418 | 16.79% |
| Net Assets in Top 10 | 240 M | -317 M | 3.09 B | 15.58% |
| Weighting of Top 10 | 14.16% | 1.8% | 100.3% | 66.73% |
Top 10 Holdings
- SHORT TERM INV FUND 3.96%
- GOVERNMENT FUTURES 2.28%
- MUNI PUT BOND ACT 1.32%
- FX.RT. MUNI BOND 1.17%
- FX.RT. MUNI BOND 1.11%
- FX.RT. MUNI BOND 1.01%
- MUNI ORIG ISSUE DISC 0.94%
- FX.RT. MUNI BOND 0.82%
- MUNI PUT BOND ACT 0.79%
- FX.RT. MUNI BOND 0.78%
Asset Allocation
| Weighting | Return Low | Return High | PPNAX % Rank | |
|---|---|---|---|---|
| Bonds | 98.56% | 0.00% | 150.86% | 57.79% |
| Cash | 3.96% | -50.86% | 44.62% | 12.56% |
| Other | 2.82% | -3.69% | 53.54% | 1.81% |
| Stocks | 0.00% | 0.00% | 99.77% | 43.02% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 34.18% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 33.85% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PPNAX % Rank | |
|---|---|---|---|---|
| Municipal | 99.01% | 44.39% | 100.00% | 39.65% |
| Cash & Equivalents | 3.96% | 0.00% | 44.41% | 10.34% |
| Derivative | 2.82% | -3.69% | 53.54% | 1.01% |
| Government | 0.29% | 0.00% | 52.02% | 2.29% |
| Securitized | 0.00% | 0.00% | 5.93% | 34.93% |
| Corporate | 0.00% | 0.00% | 9.41% | 44.30% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PPNAX % Rank | |
|---|---|---|---|---|
| US | 98.56% | 0.00% | 142.23% | 55.47% |
| Non US | 0.00% | 0.00% | 23.89% | 38.48% |
PPNAX - Expenses
Operational Fees
| PPNAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.90% | 0.01% | 8.02% | 34.61% |
| Management Fee | 0.42% | 0.00% | 1.20% | 47.18% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 45.69% |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| PPNAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.00% | 0.50% | 4.75% | 33.05% |
| Deferred Load | N/A | 0.25% | 5.00% | 36.81% |
Trading Fees
| PPNAX 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.
| PPNAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 78.00% | 0.00% | 283.00% | 97.58% |
PPNAX - Distributions
Dividend Yield Analysis
| PPNAX | Category Low | Category High | PPNAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.25% | 0.00% | 14.51% | 50.94% |
Dividend Distribution Analysis
| PPNAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| PPNAX | Category Low | Category High | PPNAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.63% | -0.53% | 5.33% | 66.42% |
Capital Gain Distribution Analysis
| PPNAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.038 | OrdinaryDividend |
| Oct 31, 2024 | $0.037 | OrdinaryDividend |
| Sep 30, 2024 | $0.034 | OrdinaryDividend |
| Aug 30, 2024 | $0.039 | OrdinaryDividend |
| Jul 31, 2024 | $0.036 | OrdinaryDividend |
| Apr 30, 2024 | $0.036 | OrdinaryDividend |
| Mar 28, 2024 | $0.035 | OrdinaryDividend |
| Feb 29, 2024 | $0.035 | OrdinaryDividend |
| Jan 31, 2024 | $0.034 | OrdinaryDividend |
| Dec 29, 2023 | $0.034 | OrdinaryDividend |
| Nov 30, 2023 | $0.033 | OrdinaryDividend |
| Oct 31, 2023 | $0.031 | OrdinaryDividend |
| Sep 29, 2023 | $0.034 | OrdinaryDividend |
| Aug 31, 2023 | $0.033 | OrdinaryDividend |
| Jul 31, 2023 | $0.029 | OrdinaryDividend |
| Jun 30, 2023 | $0.033 | OrdinaryDividend |
| May 31, 2023 | $0.030 | OrdinaryDividend |
| Apr 28, 2023 | $0.027 | OrdinaryDividend |
| Mar 31, 2023 | $0.031 | OrdinaryDividend |
| Feb 28, 2023 | $0.031 | OrdinaryDividend |
| Jan 31, 2023 | $0.028 | OrdinaryDividend |
| Dec 30, 2022 | $0.029 | OrdinaryDividend |
| Dec 28, 2022 | $0.004 | OrdinaryDividend |
| Nov 30, 2022 | $0.027 | OrdinaryDividend |
| Oct 31, 2022 | $0.025 | OrdinaryDividend |
| Sep 30, 2022 | $0.028 | OrdinaryDividend |
| Aug 31, 2022 | $0.023 | OrdinaryDividend |
| Jul 29, 2022 | $0.017 | OrdinaryDividend |
| Jun 30, 2022 | $0.016 | OrdinaryDividend |
| May 31, 2022 | $0.016 | OrdinaryDividend |
| Apr 29, 2022 | $0.020 | OrdinaryDividend |
| Mar 31, 2022 | $0.019 | OrdinaryDividend |
| Feb 28, 2022 | $0.014 | OrdinaryDividend |
| Jan 31, 2022 | $0.016 | OrdinaryDividend |
| Dec 31, 2021 | $0.001 | OrdinaryDividend |
| Nov 30, 2021 | $0.017 | OrdinaryDividend |
| Oct 29, 2021 | $0.017 | OrdinaryDividend |
| Sep 30, 2021 | $0.016 | OrdinaryDividend |
| Aug 31, 2021 | $0.017 | OrdinaryDividend |
| Jul 30, 2021 | $0.019 | OrdinaryDividend |
| Jun 30, 2021 | $0.019 | OrdinaryDividend |
| May 28, 2021 | $0.018 | OrdinaryDividend |
| Apr 30, 2021 | $0.022 | OrdinaryDividend |
| Mar 31, 2021 | $0.022 | OrdinaryDividend |
| Feb 26, 2021 | $0.020 | OrdinaryDividend |
| Jan 29, 2021 | $0.019 | OrdinaryDividend |
| Dec 31, 2020 | $0.416 | OrdinaryDividend |
| Dec 29, 2020 | $0.017 | OrdinaryDividend |
| Dec 29, 2020 | $0.100 | CapitalGainShortTerm |
| Dec 29, 2020 | $0.280 | CapitalGainLongTerm |
| Nov 30, 2020 | $0.020 | OrdinaryDividend |
| Oct 30, 2020 | $0.022 | OrdinaryDividend |
| Sep 30, 2020 | $0.022 | OrdinaryDividend |
| Aug 31, 2020 | $0.024 | OrdinaryDividend |
| Jul 31, 2020 | $0.027 | OrdinaryDividend |
| Jun 30, 2020 | $0.026 | OrdinaryDividend |
| May 29, 2020 | $0.029 | OrdinaryDividend |
| Apr 30, 2020 | $0.029 | OrdinaryDividend |
| Mar 31, 2020 | $0.030 | OrdinaryDividend |
| Feb 28, 2020 | $0.028 | OrdinaryDividend |
| Jan 31, 2020 | $0.030 | OrdinaryDividend |
| Dec 27, 2019 | $0.157 | CapitalGainShortTerm |
| Dec 27, 2019 | $0.165 | CapitalGainLongTerm |
| Nov 29, 2019 | $0.033 | OrdinaryDividend |
| Oct 31, 2019 | $0.032 | OrdinaryDividend |
| Sep 30, 2019 | $0.031 | OrdinaryDividend |
| Aug 30, 2019 | $0.033 | OrdinaryDividend |
| Jul 31, 2019 | $0.033 | OrdinaryDividend |
| Dec 27, 2018 | $0.004 | ExtraDividend |
| Dec 27, 2018 | $0.160 | CapitalGainLongTerm |
| Dec 27, 2017 | $0.007 | ExtraDividend |
| Dec 27, 2016 | $0.001 | ExtraDividend |
| Dec 29, 2015 | $0.003 | ExtraDividend |
| Jan 02, 2009 | $0.010 | CapitalGainLongTerm |
| Dec 26, 2007 | $0.020 | CapitalGainLongTerm |
| Dec 11, 2006 | $0.042 | CapitalGainLongTerm |
| Dec 12, 2005 | $0.039 | CapitalGainShortTerm |
| Dec 12, 2005 | $0.044 | CapitalGainLongTerm |
| Dec 11, 2002 | $0.046 | CapitalGainShortTerm |
| Dec 11, 2002 | $0.317 | CapitalGainLongTerm |
| Dec 12, 2001 | $0.001 | ExtraDividend |
| Dec 14, 1998 | $0.001 | ExtraDividend |
| Dec 14, 1998 | $0.025 | CapitalGainShortTerm |
| Dec 14, 1998 | $0.097 | CapitalGainLongTerm |
| Dec 10, 1997 | $0.027 | CapitalGainShortTerm |
| Dec 10, 1997 | $0.022 | CapitalGainLongTerm |
| Dec 13, 1996 | $0.005 | CapitalGainShortTerm |
| Dec 13, 1996 | $0.093 | CapitalGainLongTerm |
PPNAX - 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 |
