Active Equities
Small Cap Growth Fund (Class Y) (PSYGX)
Seeking to capitalize on growing small companies
Highlights
Objective
The fund seeks capital appreciation.
Strategy and process
- Small companies: Often overlooked by Wall Street analysts, the stocks of small companies can represent attractive opportunities.
- A focus on growth: Small companies tend to be flexible and innovative, and can often expand their earnings at faster rates than larger companies.
- A disciplined process: The portfolio manager uses a disciplined bottom-up fundamental investment process that focuses on quality and growth.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
---|---|---|---|
Net asset value |
$75.39
-1.26% | $-0.96 |
$76.35
01/14/21 |
$35.04
03/18/20 |
Fund facts as of 12/31/20
$777.19M
56%
Annually
90
June
746763499 / 1852
11/03/03
Growth
PSYGX
Manager commentary | Q4 2020
High-quality small caps are the bedrock
A focus on high-quality companies differentiates the fund from peers, says Portfolio Manager Bill Monroe, CFA.
Literature
Fund documents |
|
Fact Sheet (R6 share) (PDF) | |
Fact Sheet (YA share) (PDF) | |
Summary Prospectus (PDF) |
|
Statutory Prospectus (PDF) |
|
Statement of Additional Information (SAI) (PDF) | |
Annual Report (PDF) |
|
Semiannual Report (PDF) |
|
Proxy voting results (Form N-PX) (PDF) | |
Equity Outlook (PDF) |
|
Comparing Putnam's U.S. equity funds (PDF) |
|
Disruptive change: A growth driver for small companies
Disruptive change is often the force that enables small companies to compete against their larger peers.Performance
Total return (%) as of 12/31/20
Annual performance as of 12/31/20
Annualized Total return (%) as of 12/31/20
Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
---|---|---|---|---|
Before sales charge | 48.02% | 25.89% | 21.20% | 15.58% |
After sales charge | N/A | N/A | N/A | N/A |
Russell 2000 Growth Index | 34.63% | 16.20% | 16.36% | 13.48% |
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. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds (2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which have been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Performance snapshot
Before sales charge | After sales charge | ||
---|---|---|---|
1 mt. as of 12/31/20 | 8.18% | - | |
YTD as of 01/15/21 | 5.10% | - | |
Risk-adjusted performance as of 12/31/20
Alpha (3 yrs.) | 11.49 |
---|---|
Sharpe ratio (3 yrs.) | 1.06 |
Treynor ratio (3 yrs.) | 27.81 |
Information ratio (3 yrs.) | 1.36 |
Volatility as of 12/31/20
Standard deviation (3 yrs.) | 22.94% |
---|---|
Beta | 0.88 |
R-squared | 0.92 |
Capture ratio as of 12/31/20
Up-market (3 yrs.) | 102.48 |
---|---|
Down-market (3 yrs.) | 73.44 |
Lipper rankings as of 12/31/20
Time period | Rank/Funds in category | Percentile ranking |
---|---|---|
1 yr. | 173/670 | 26% |
3 yrs. | 125/627 | 20% |
5 yrs. | 117/539 | 22% |
10 yrs. | 83/406 | 21% |
Morningstar Ratings™ as of 12/31/20
Time period | Funds in category | Morningstar Rating™ |
---|---|---|
Overall | 576 | |
3 yrs. | 576 | |
5 yrs. | 505 | |
10 yrs. | 381 |
Distributions
Record/Ex dividend date | 12/04/20 |
---|---|
Payable date | 12/08/20 |
Income | -- |
Extra income | -- |
Short-term cap. gain | $0.91 |
Long-term cap. gain | $2.43 |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Compare
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** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.
Holdings
R1 Rcm | 2.32% |
---|---|
Cable One | 2.23% |
Entegris | 1.89% |
Hamilton Lane | 1.87% |
Inmode | 1.85% |
Medpace Holdings | 1.84% |
Five Below | 1.81% |
Adapthealth Corp | 1.77% |
Mercury Systems | 1.74% |
Repligen Corp | 1.74% |
Top 10 holdings, percent of portfolio | 19.06% |
Top 10 holdings as of 12/31/20 | |
---|---|
R1 Rcm | |
Cable One | |
Entegris | |
Hamilton Lane | |
Inmode | |
Medpace Holdings | |
Five Below | |
Adapthealth Corp | |
Mercury Systems | |
Repligen Corp | |
Holdings represent 19.06% of portfolio |
Top 10 holdings as of 11/30/20 | |
---|---|
Kinsale Capital Group | |
Cable One | |
R1 Rcm | |
Entegris | |
Repligen Corp | |
Medpace Holdings | |
Novanta | |
Colliers International Group | |
Inmode | |
Hamilton Lane | |
Holdings represent 19.67% of portfolio |
Top 10 holdings as of 10/31/20 | |
---|---|
Quidel Corp | |
Cable One | |
R1 Rcm | |
Hamilton Lane | |
Palomar Holdings | |
Kinsale Capital Group | |
Repligen Corp | |
Novanta | |
Amedisys | |
Paylocity Holding Corp | |
Holdings represent 20.75% of portfolio |
Top 10 holdings as of 09/30/20 | |
---|---|
Quidel Corp | |
Palomar Holdings | |
Cable One | |
R1 Rcm | |
Kinsale Capital Group | |
Emergent Biosolutions | |
Hamilton Lane | |
Mercury Systems | |
Novanta | |
Medpace Holdings | |
Holdings represent 21.26% of portfolio |
R1 RCM INC SEDOL BD8PMK1 | 2.32% |
---|---|
CABLE ONE INC SEDOL BZ07DS4 | 2.23% |
ENTEGRIS INC SEDOL 2599700 | 1.89% |
HAMILTON LANE INC-CLASS A SEDOL BF0SR29 | 1.87% |
INMODE LTD SEDOL BK5Z9R9 | 1.85% |
MEDPACE HOLDINGS INC SEDOL BDCBC61 | 1.84% |
FIVE BELOW SEDOL B85KFY9 | 1.81% |
ADAPTHEALTH CORP SEDOL BKDRF35 | 1.77% |
MERCURY SYSTEMS INC SEDOL 2144047 | 1.74% |
REPLIGEN CORP SEDOL 2731654 | 1.74% |
KINSALE CAPITAL GROUP INC SEDOL BD1MGQ3 | 1.69% |
COLLIERS INTERNATIONAL GROUP SEDOL BYL7SB4 | 1.68% |
NOVANTA INC SEDOL BD8S5H8 | 1.65% |
PLANET FITNESS INC - CL A SEDOL BYSFJV8 | 1.62% |
EVERBRIDGE INC SEDOL BYY5ZB4 | 1.60% |
PAYLOCITY HOLDING CORP SEDOL BKM4N88 | 1.59% |
TECHTARGET SEDOL B1XH822 | 1.55% |
CONMED CORP SEDOL 2216010 | 1.54% |
SPS COMMERCE INC SEDOL B57VWJ3 | 1.53% |
AMEDISYS INC SEDOL 2024332 | 1.52% |
TFI INTERNATIONAL INC SEDOL BDRXBF4 | 1.52% |
MANHATTAN ASSOCIATES INC SEDOL 2239471 | 1.52% |
VERRA MOBILITY CORP SEDOL BFXX5X8 | 1.49% |
LHC GROUP INC SEDOL B06DT50 | 1.46% |
CSW INDUSTRIALS INC SEDOL BYQD1J6 | 1.46% |
NOVA MEASURING INSTRUMENTS SEDOL 2577740 | 1.44% |
CHURCHILL DOWNS INC SEDOL 2194105 | 1.44% |
DECKERS OUTDOOR CORP SEDOL 2267278 | 1.44% |
AZEK CO INC/THE SEDOL BKPVG43 | 1.34% |
SAIA INC SEDOL 2982399 | 1.34% |
ACCELERON PHARMA INC SEDOL BDGTXQ8 | 1.29% |
EMERGENT BIOSOLUTIONS INC SEDOL B1HJLW5 | 1.27% |
BOOT BARN HOLDINGS INC SEDOL BRS6600 | 1.24% |
PHREESIA INC SEDOL BKF9DQ8 | 1.17% |
PALOMAR HOLDINGS INC SEDOL BJYLZK6 | 1.14% |
SHIFT4 PAYMENTS INC-CLASS A SEDOL BLF0L75 | 1.12% |
VERTEX INC - CLASS A SEDOL BMX6DM1 | 1.12% |
SUNRUN INC SEDOL BYXB1Y8 | 1.11% |
TOPBUILD CORP SEDOL BZ0P3W2 | 1.11% |
PENN NATIONAL GAMING INC SEDOL 2682105 | 1.10% |
1LIFE HEALTHCARE INC SEDOL BKMG1N5 | 1.09% |
FIVE9 INC SEDOL BKY7X18 | 1.09% |
OPEN LENDING CORP - CL A SEDOL BMTD3M6 | 1.07% |
SITEONE LANDSCAPE SUPPLY INC SEDOL BYQ7X81 | 1.04% |
ARRAY TECHNOLOGIES INC SEDOL BLBLMD5 | 1.03% |
NATERA INC SEDOL BYQRG48 | 1.03% |
Q2 HOLDINGS INC SEDOL BKM4KV0 | 1.01% |
TETRA TECH INC SEDOL 2883890 | 1.00% |
INGEVITY CORP SEDOL BD4LHG4 | 0.98% |
PATRICK INDUSTRIES INC SEDOL 2673154 | 0.96% |
WINGSTOP INC SEDOL BYYXHN4 | 0.96% |
BROOKS AUTOMATION INC | 0.95% |
ASCENDIS PHARMA A/S - ADR SEDOL BV9G6B8 | 0.94% |
MIRATI THERAPEUTICS INC SEDOL BBPK0J0 | 0.93% |
RBC BEARINGS INC SEDOL B0GLYB5 | 0.91% |
BLACKLINE INC SEDOL BD3WZS6 | 0.89% |
QUIDEL CORP SEDOL 2717591 | 0.88% |
RAPID7 INC SEDOL BZ22CY6 | 0.87% |
BRINK'S CO/THE SEDOL 2691305 | 0.86% |
BIOHAVEN PHARMACEUTICAL HOLD SEDOL BZ8FXC4 | 0.83% |
HALOZYME THERAPEUTICS INC SEDOL 2975098 | 0.81% |
INSMED INC SEDOL 2614487 | 0.81% |
TURNING POINT THERAPEUTICS I SEDOL BJXBP30 | 0.81% |
INSTALLED BUILDING PRODUCTS SEDOL BJSP4C9 | 0.80% |
CHEGG INC SEDOL BG6N6K6 | 0.78% |
TG THERAPEUTICS INC SEDOL B828K63 | 0.78% |
INSULET CORP SEDOL B1XGNW4 | 0.78% |
IMMUNOVANT INC SEDOL BJRFSB7 | 0.76% |
CASELLA WASTE SYSTEMS INC-A SEDOL 2120490 | 0.75% |
TREX COMPANY INC SEDOL 2483074 | 0.72% |
NEVRO CORP SEDOL BS7K7C9 | 0.72% |
Y-MABS THERAPEUTICS INC SEDOL BG31GH0 | 0.69% |
MONTROSE ENVIRONMENTAL GROUP SEDOL BLCB610 | 0.68% |
CASTLE BIOSCIENCES INC SEDOL BKLCWZ3 | 0.67% |
ROCKET PHARMACEUTICALS INC SEDOL BDFKQ07 | 0.66% |
CHEMOCENTRYX INC SEDOL B6ZL968 | 0.64% |
VERACYTE INC SEDOL BFTWZY0 | 0.62% |
ABM INDUSTRIES INC SEDOL 2024901 | 0.62% |
TERRENO REALTY CORP SEDOL B3N4753 | 0.57% |
TWIST BIOSCIENCE CORP SEDOL BGKG6G7 | 0.49% |
VERICEL CORP SEDOL BSBMN89 | 0.48% |
PTC THERAPEUTICS INC SEDOL B17VCN9 | 0.47% |
DENALI THERAPEUTICS INC SEDOL BD2B4V0 | 0.47% |
UPLAND SOFTWARE INC SEDOL BS7K7H4 | 0.44% |
ANTARES PHARMA INC SEDOL 2383163 | 0.38% |
EVERARC HOLDINGS LTD SEDOL BL4KJD8 | 0.35% |
CRYOPORT INC SEDOL BY2ZKK0 | 0.35% |
PROVENTION BIO INC SEDOL BG346B3 | 0.30% |
RADNET INC SEDOL B1JNG19 | 0.27% |
LIGHTSPEED POS INC-SUB VOTE SEDOL BJM05V6 | 0.26% |
QUIDEL CORP SEDOL 2717591 | 2.56% |
---|---|
PALOMAR HOLDINGS INC SEDOL BJYLZK6 | 2.46% |
CABLE ONE INC SEDOL BZ07DS4 | 2.39% |
R1 RCM INC SEDOL BD8PMK1 | 2.10% |
KINSALE CAPITAL GROUP INC SEDOL BD1MGQ3 | 2.07% |
EMERGENT BIOSOLUTIONS INC SEDOL B1HJLW5 | 2.02% |
HAMILTON LANE INC-CLASS A SEDOL BF0SR29 | 1.96% |
MERCURY SYSTEMS INC SEDOL 2144047 | 1.94% |
NOVANTA INC SEDOL BD8S5H8 | 1.88% |
MEDPACE HOLDINGS INC SEDOL BDCBC61 | 1.88% |
ENTEGRIS INC SEDOL 2599700 | 1.86% |
EVERBRIDGE INC SEDOL BYY5ZB4 | 1.82% |
AMEDISYS INC SEDOL 2024332 | 1.76% |
REPLIGEN CORP SEDOL 2731654 | 1.73% |
LHC GROUP INC SEDOL B06DT50 | 1.71% |
FIVE BELOW SEDOL B85KFY9 | 1.67% |
PAYLOCITY HOLDING CORP SEDOL BKM4N88 | 1.65% |
PLANET FITNESS INC - CL A SEDOL BYSFJV8 | 1.63% |
MANHATTAN ASSOCIATES INC SEDOL 2239471 | 1.63% |
BJ'S WHOLESALE CLUB HOLDINGS SEDOL BFZNZF8 | 1.62% |
TFI INTERNATIONAL INC SEDOL BDRXBF4 | 1.52% |
HORIZON THERAPEUTICS PLC SEDOL BQPVQZ6 | 1.50% |
SPS COMMERCE INC SEDOL B57VWJ3 | 1.49% |
CASELLA WASTE SYSTEMS INC-A SEDOL 2120490 | 1.48% |
COLLIERS INTERNATIONAL GROUP SEDOL BYL7SB4 | 1.46% |
CHURCHILL DOWNS INC SEDOL 2194105 | 1.45% |
ACCELERON PHARMA INC SEDOL BDGTXQ8 | 1.43% |
TOPBUILD CORP SEDOL BZ0P3W2 | 1.43% |
WINGSTOP INC SEDOL BYYXHN4 | 1.42% |
OLLIE'S BARGAIN OUTLET HOLDI SEDOL BZ22B38 | 1.29% |
CSW INDUSTRIALS INC SEDOL BYQD1J6 | 1.28% |
TREX COMPANY INC SEDOL 2483074 | 1.26% |
IMMUNOMEDICS INC SEDOL 2457961 | 1.26% |
TERRENO REALTY CORP SEDOL B3N4753 | 1.21% |
SAIA INC SEDOL 2982399 | 1.19% |
FIVE9 INC SEDOL BKY7X18 | 1.14% |
ASCENDIS PHARMA A/S - ADR SEDOL BV9G6B8 | 1.10% |
INSTALLED BUILDING PRODUCTS SEDOL BJSP4C9 | 1.10% |
TECHTARGET SEDOL B1XH822 | 1.05% |
DECKERS OUTDOOR CORP SEDOL 2267278 | 1.04% |
SITEONE LANDSCAPE SUPPLY INC SEDOL BYQ7X81 | 1.01% |
CONMED CORP SEDOL 2216010 | 1.00% |
NOVA MEASURING INSTRUMENTS SEDOL 2577740 | 0.97% |
VERRA MOBILITY CORP SEDOL BFXX5X8 | 0.97% |
PATRICK INDUSTRIES INC SEDOL 2673154 | 0.96% |
RBC BEARINGS INC SEDOL B0GLYB5 | 0.93% |
PENN NATIONAL GAMING INC SEDOL 2682105 | 0.92% |
BOOT BARN HOLDINGS INC SEDOL BRS6600 | 0.92% |
Q2 HOLDINGS INC SEDOL BKM4KV0 | 0.92% |
INSMED INC SEDOL 2614487 | 0.92% |
MIRATI THERAPEUTICS INC SEDOL BBPK0J0 | 0.92% |
INSULET CORP SEDOL B1XGNW4 | 0.91% |
BROOKS AUTOMATION INC | 0.91% |
INMODE LTD SEDOL BK5Z9R9 | 0.90% |
ESCO TECHNOLOGIES INC SEDOL 2321583 | 0.90% |
MYOKARDIA INC SEDOL BYNZF59 | 0.90% |
CMC MATERIALS INC SEDOL BMCPB81 | 0.88% |
INGEVITY CORP SEDOL BD4LHG4 | 0.88% |
AZEK CO INC/THE SEDOL BKPVG43 | 0.87% |
PHREESIA INC SEDOL BKF9DQ8 | 0.81% |
BIOHAVEN PHARMACEUTICAL HOLD SEDOL BZ8FXC4 | 0.80% |
ADAPTHEALTH CORP SEDOL BKDRF35 | 0.78% |
ABM INDUSTRIES INC SEDOL 2024901 | 0.76% |
CHEGG INC SEDOL BG6N6K6 | 0.74% |
BLACKLINE INC SEDOL BD3WZS6 | 0.73% |
1LIFE HEALTHCARE INC SEDOL BKMG1N5 | 0.68% |
Y-MABS THERAPEUTICS INC SEDOL BG31GH0 | 0.66% |
VERTEX INC - CLASS A SEDOL BMX6DM1 | 0.65% |
IMMUNOVANT INC SEDOL BJRFSB7 | 0.65% |
SHIFT4 PAYMENTS INC-CLASS A SEDOL BLF0L75 | 0.64% |
CHEMOCENTRYX INC SEDOL B6ZL968 | 0.60% |
CASTLE BIOSCIENCES INC SEDOL BKLCWZ3 | 0.56% |
NEVRO CORP SEDOL BS7K7C9 | 0.55% |
HAEMONETICS CORP/MASS SEDOL 2401195 | 0.54% |
PTC THERAPEUTICS INC SEDOL B17VCN9 | 0.53% |
SUNRUN INC SEDOL BYXB1Y8 | 0.53% |
VERACYTE INC SEDOL BFTWZY0 | 0.52% |
J2 GLOBAL INC SEDOL B75DGJ3 | 0.49% |
TREAN INSURANCE GROUP INC SEDOL BN2R7L9 | 0.47% |
GLOBAL BLOOD THERAPEUTICS IN SEDOL BZ05388 | 0.44% |
U.S. PHYSICAL THERAPY INC SEDOL 2911166 | 0.42% |
EVERARC HOLDINGS LTD SEDOL BL4KJD8 | 0.41% |
FIBROGEN INC SEDOL BSDRYR8 | 0.41% |
VERICEL CORP SEDOL BSBMN89 | 0.40% |
TG THERAPEUTICS INC SEDOL B828K63 | 0.38% |
LIGAND PHARMACEUTICALS SEDOL 2501578 | 0.37% |
RAPID7 INC SEDOL BZ22CY6 | 0.36% |
ANTARES PHARMA INC SEDOL 2383163 | 0.33% |
ROCKET PHARMACEUTICALS INC SEDOL BDFKQ07 | 0.32% |
PROVENTION BIO INC SEDOL BG346B3 | 0.28% |
Portfolio composition as of 12/31/20
Common stock | 98.43% |
---|---|
Cash and net other assets | 1.57% |
Equity statistics as of 12/31/20
Median market cap | $4.78B |
---|---|
Weighted average market cap | $5.79B |
Price to book | 8.48 |
Price to earnings | 52.39 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund's other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Top industry sectors as of 12/31/20
Health care | 35.45% |
---|---|
Information technology | 20.46% |
Industrials | 16.13% |
Consumer discretionary | 13.27% |
Financials | 6.12% |
Communication services | 3.78% |
Real estate | 2.24% |
Cash and net other assets | 1.57% |
Materials | 0.98% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
Total expense ratio | 1.24% | 1.99% | 1.99% | 1.49% | 0.84% | 0.99% |
What you pay | 1.24% | 1.99% | 1.99% | 1.49% | 0.84% | 0.99% |
Sales charge
Breakpoint | Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
$0-$49,999 | 5.75% / 5.00% | 0.00% / 4.00% | 0.00% / 1.00% | -- | -- | -- |
$50,000-$99,999 | 4.50% / 3.75% | 0.00% / 4.00% | 0.00% / 1.00% | -- | -- | -- |
$100,000-$249,999 | 3.50% / 2.75% | -- | 0.00% / 1.00% | -- | -- | -- |
$250,000-$499,999 | 2.50% / 2.00% | -- | 0.00% / 1.00% | -- | -- | -- |
$500,000-$999,999 | 2.00% / 1.75% | -- | 0.00% / 1.00% | -- | -- | -- |
$1M-$4M | 0.00% / 1.00% | -- | -- | -- | -- | -- |
$4M-$50M | 0.00% / 0.50% | -- | -- | -- | -- | -- |
$50M+ | 0.00% / 0.25% | -- | -- | -- | -- | -- |
CDSC
Class A (sales for $1,000,000+) | Class B | Class C | Class R | Class R6 | Class Y | |
---|---|---|---|---|---|---|
0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- |
3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- |
6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- |
7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- |
Trail commissions
Class A | Class B | Class C | Class R | Class R6 | Class Y | |
---|---|---|---|---|---|---|
0.25% | 0.25% | 1.00% | 0.50% | 0.00% | 0.00% | |
NA | NA | NA | NA | NA | NA | |
NA | NA | NA | NA | NA | NA |
For sales and trail commission information on purchases over $1 million and participant-directed qualified retirement plans, see a Putnam fund prospectus and the statement of additional information.
The Russell 2000 Growth Index is an unmanaged index of those companies in the small-cap Russell 2000 Index chosen for their growth orientation. You cannot invest directly in an index.
Consider these risks before investing: Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and the market may not favor growth-style investing. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. These risks are generally greater for small and midsize companies. From time to time, the fund may invest a significant portion of its assets in companies in one or more related industries or sectors, which would make the fund more vulnerable to adverse developments affecting those industries or sectors. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund's other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.