The muni bond advantage
Municipal bonds offer an attractive opportunity for tax-smart investing. This interactive tool can help you compare munis with Treasurys from various states and across income levels. Try the tool and explore Putnam municipal bond funds.
Data as of 12/31/22. Sources: U.S. Treasury, Barclays Municipal Credit Research, Standard & Poor's, The Tax Foundation, and U.S. Census (estimated data). State municipal bond yields represented the yield to worst of the Barclays Municipal Bond Index from that state. Muni yield figures do not reflect the potential effects of the alternative minimum tax. Credit ratings are by Standard & Poor's, and are subject to change. While all bonds have risks, municipal bonds may have a higher level of credit risk as compared with government bonds and CDs. Yields shown are not indicative of the performance of any particular investment, and it is not possible to invest directly in an index. Past performance is not indicative of future results.
Explore Putnam's 4- and 5-star rated municipal bond funds
Strategic Intermediate Municipal Fund (PAMYX)
This fund received a Overall Morningstar Rating™ out of 283 funds in the Muni National Interm category based on total return as of 02/28/23
California Tax Exempt Income Fund (PCIYX)
This fund received a Overall Morningstar Rating™ out of 103 funds in the Muni California Long category based on total return as of 02/28/23
Massachusetts Tax Exempt Income Fund (PMAYX)
This fund received a Overall Morningstar Rating™ out of 42 funds in the Muni Massachusetts category based on total return as of 02/28/23
Minnesota Tax Exempt Income Fund (PMNYX)
This fund received a Overall Morningstar Rating™ out of 43 funds in the Muni Minnesota category based on total return as of 02/28/23
New Jersey Tax Exempt Income Fund (PNJYX)
This fund received a Overall Morningstar Rating™ out of 49 funds in the Muni New Jersey category based on total return as of 02/28/23
New York Tax Exempt Income Fund (PNYYX)
This fund received a Overall Morningstar Rating™ out of 72 funds in the Muni New York Long category based on total return as of 02/28/23
Ohio Tax Exempt Income Fund (POTYX)
This fund received a Overall Morningstar Rating™ out of 23 funds in the Muni Ohio category based on total return as of 02/28/23
Short-Term Municipal Income Fund (PSMYX)
This fund received a Overall Morningstar Rating™ out of 205 funds in the Muni National Short category based on total return as of 02/28/23
Pennsylvania Tax Exempt Income Fund (PPTYX)
This fund received a Overall Morningstar Rating™ out of 49 funds in the Muni Pennsylvania category based on total return as of 02/28/23
Tax Exempt Income Fund (PTEYX)
This fund received a Overall Morningstar Rating™ out of 155 funds in the Muni National Long category based on total return as of 02/28/23
Tax-Free High Yield Fund (PTFYX)
This fund received a Overall Morningstar Rating™ out of 187 funds in the High Yield Muni category based on total return as of 02/28/23
Insights and outlook on taxes
Putnam offers timely insights on the evolution of the municipal bond market and our outlook for taxes over the coming years.
