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 6/30/23. 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 269 funds in the Muni National Interm category based on total return as of 08/31/23
California Tax Exempt Income Fund (PCIYX)
This fund received a Overall Morningstar Rating™ out of 105 funds in the Muni California Long category based on total return as of 08/31/23
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 08/31/23
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 08/31/23
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 08/31/23
New York Tax Exempt Income Fund (PNYYX)
This fund received a Overall Morningstar Rating™ out of 74 funds in the Muni New York Long category based on total return as of 08/31/23
Ohio Tax Exempt Income Fund (POTYX)
This fund received a Overall Morningstar Rating™ out of 24 funds in the Muni Ohio category based on total return as of 08/31/23
Short-Term Municipal Income Fund (PSMYX)
This fund received a Overall Morningstar Rating™ out of 206 funds in the Muni National Short category based on total return as of 08/31/23
Tax-Free High Yield Fund (PTFYX)
This fund received a Overall Morningstar Rating™ out of 190 funds in the High Yield Muni category based on total return as of 08/31/23
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.
