Pursue tax-exempt income with an active, research-driven approach
Explore our investment optionsMuni bond funds and pricing
Putnam offers competitive pricing with a $250,000 breakpoint for Class A share purchases across our tax-exempt strategies:
- Putnam Intermediate-Term Municipal Income Fund (PIMEX)
- Putnam Strategic Intermediate Municipal Fund (PPNAX)
- Putnam Tax Exempt Income Fund (PTAEX)
- Putnam Tax-Free High Yield Fund (PTHAX)
- All Putnam state-specific tax-exempt funds (CA, MA, MN, NJ, NY, OH, and PA)
For Putnam Strategic Intermediate Municipal Fund (PPNAX), the NAV threshold is now $250,000, with a 12-month CDSC and 1% dealer commission.
For each of the Putnam tax-exempt funds, (with the exception of Putnam Short-Term Municipal Income Fund), the breakpoint for purchases of class A shares at NAV has decreased from a $500,000 threshold to a $250,000 threshold. Putnam Short-Term Municipal Income Fund already leverages a sales charge schedule with a $250,000 breakpoint.
Click here for brokerage sales chargesConsult the supplement to the prospectus for all funds mentioned above. For additional information, please contact Putnam’s Client Engagement Center at 800-354-4000.
Explore tax-equivalent yields
Use our Tax-Equivalent Yield Calculator to evaluate Putnam municipal bond funds with other income fund options. The tool offers a custom comparison based on income, filing status, and state of residence.
State tax-exempt funds | 5-year ann. ret. at NAV | 30-day SEC yield | Overall Morningstar RatingTM as of 12/31/22 |
See tax-equivalent yield |
---|---|---|---|---|
California Tax Exempt Income Fund | 1.11% | 3.57% | (out of 103 in category) | |
Massachusetts Tax Exempt Income Fund | 0.73% | 3.40% | (out of 45 in category) | |
Minnesota Tax Exempt Income Fund | 0.88% | 3.11% | (out of 43 in category) | |
New Jersey Tax Exempt Income Fund | 1.33% | 3.31% | (out of 49 in category) | |
New York Tax Exempt Income Fund | 0.73% | 3.65% | (out of 72 in category) | |
Ohio Tax Exempt Income Fund | 0.90% | 3.18% | (out of 23 in category) | |
Pennsylvania Tax Exempt Income Fund | 1.05% | 3.55% | (out of 52 in category) |
National funds | 5-year ann. ret. at NAV | 30-day SEC yield | Overall Morningstar RatingTM as of 12/31/22 |
See tax-equivalent yield |
---|---|---|---|---|
Intermediate-Term Municipal Income Fund | 1.52% |
2.70% with subsidy 2.43% without subsidy |
(out of 281 in category) | |
Short-Term Municipal Income Fund | 1.16% |
2.73% with subsidy 2.59% without subsidy |
(out of 206 in category) | |
Strategic Intermediate Municipal Fund | 1.71% | 3.05% | (out of 281 in category) | |
Tax Exempt Income Fund | 1.01% | 3.58% | (out of 160 in category) | |
Tax-Free High Yield Fund | 1.35% | 4.32% | (out of 188 in category) |
Closed-end funds | 5-year ann. ret. @ NAV as of 12/31/22 |
Dividend rate @ NAV as of 12/31/22 |
Ticker | |
---|---|---|---|---|
Managed Municipal Income Trust | 0.44% | -- | NYSE: PMM | |
Municipal Opportunities Trust | 1.01% | -- | NYSE: PMO |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares.
Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower.