Yield
Distribution rate before sales charge
as of 03/21/23
2.51%
Distribution rate after sales charge
as of 03/21/23
2.51%
30-day SEC yield with subsidy
as of 02/28/23
2.71%
30-day SEC yield without subsidy
as of 02/28/23
2.35%

Expense ratio

Class Y
Total expense ratio 1.53%
What you pay† 0.64%

† The fund's expense ratio is taken from the most recent prospectus and is subject to change. What you pay reflects Putnam Management's decision to contractually limit expenses through 03/30/23

Annualized performance as of 12/31/22 1 yr. 3 yrs. 5 yrs. Life
(inception: 03/18/13 )
Before sales charge -6.28% 0.03% 1.52% 1.84%
Bloomberg 7-year Municipal Index -5.97%-0.27%1.48%--