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. The "before sales charge" performance does not reflect the current maximum sales charges, which we explain below. If performance did reflect the charges, it would be lower. The "after sales charge" performance (or returns at public offering price) varies by share class and fund. For class A and class M shares, the current maximum initial sales charges are 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds, respectively (with these exceptions: 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). Class B share performance reflects the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declines 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; for these funds, the CDSC is 1% in the first year, declines to 0.5% in the second year, and is eliminated thereafter). Class C share performance reflects 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 by adjusting for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (note, for two funds — Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund performance prior to inception is 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 has been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. The "after sales charge" performance (at public offering price) for class N shares reflects the current maximum initial sales charge of 1.50%. Class R, R3, R4, R5, and R6 shares, which are 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 R3 and R4 shares prior to their inception is derived from the historical performance of class Y shares by adjusting for the higher operating expenses for such shares. Performance for class R5 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower expenses; had it been adjusted, performance would be higher (with the exception of the RetirementReady Maturity, 2025, 2030, 2035, and 2040 Funds, for which performance is derived from the historical performance of class R6 shares and has been adjusted for the higher operating expenses for such shares; and the RetirementReady 2045, 2050, 2055, and 2060 Funds, for which performance is derived from the historical performance of class R6 shares and has not been adjusted for the lower expenses; had it been adjusted, performance would be higher). Performance for class R6 shares before their inception is derived from the historical performance of class Y shares, which has not been adjusted for the lower operating expenses; had it been adjusted, performance would be higher. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses. Had these limits not been in place, performance would be lower.
Active Equities
International Equity Fund (Class Y) (POVYX)
Pursuing the growth potential of overseas markets since 1991
Highlights
Objective
The fund seeks capital appreciation.
Strategy and process
- International companies The fund invests in established large and midsize companies, mainly in developed markets to benefit from opportunities outside the United States.
- A flexible strategy Pursuing Putnam's blend strategy, the fund can own growth- or value-style stocks to participate when either style leads international markets.
- A disciplined process The portfolio manager invests using fundamental research and quantitative tools supported by strong risk controls in portfolio construction.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$30.02
0.17% | $0.05 |
$30.76
09/03/21 |
$23.01
10/30/20 |
Consistency of positive performance over five years
Performance shown does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please click on the performance tab.
26.70%
Best 5-year annualized return
(for period ending 03/31/00)
-7.81%
Worst 5-year annualized return
(for period ending 06/30/12)
7.38%
Average 5-year annualized return
Fund facts as of 09/30/21
$883.86M
91%
Annually
70
June
74680E507 / 1835
07/12/96
Blend
POVYX
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) | |
| White Paper: Integrated Insights (PDF) |
|
Emerging markets leading the way in innovation
Innovation is driving exciting growth across emerging market countries.Value investing for all seasons
We believe the durability of this recent value rally is being underestimated. Based on our analysis, the case for value stocks, particularly in international markets, remains compellingChina property problem — Bigger than Mt. Evergrande
Recent default warnings from one of China's leading real estate development companies signaled a bigger property problem in the sector.Performance
Total return (%) as of 09/30/21
Annual performance as of 09/30/21
Annualized Total return (%) as of 09/30/21
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 25.01% | 8.90% | 8.82% | 8.98% |
| After sales charge | N/A | N/A | N/A | N/A |
| MSCI EAFE Index (ND) | 25.73% | 7.62% | 8.81% | 8.10% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 09/30/21 | -3.27% | - | |
| YTD as of 10/26/21 | 11.31% | - | |
Risk-adjusted performance as of 09/30/21
| Alpha (3 yrs.) | 1.43 |
|---|---|
| Sharpe ratio (3 yrs.) | 0.45 |
| Treynor ratio (3 yrs.) | 8.00 |
| Information ratio (3 yrs.) | 0.39 |
Volatility as of 09/30/21
| Standard deviation (3 yrs.) | 17.47% |
|---|---|
| Beta | 0.98 |
| R-squared | 0.97 |
Capture ratio as of 09/30/21
| Up-market (3 yrs.) | 105.51 |
|---|---|
| Down-market (3 yrs.) | 101.18 |
Lipper rankings as of 09/30/21
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 154/339 | 46% |
| 3 yrs. | 33/312 | 11% |
| 5 yrs. | 90/264 | 34% |
| 10 yrs. | 24/169 | 15% |
Morningstar Ratings™ as of 09/30/21
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 691 | |
| 3 yrs. | 691 | |
| 5 yrs. | 591 | |
| 10 yrs. | 397 |
Distributions
| Record/Ex dividend date | 12/23/20 |
|---|---|
| Payable date | 12/28/20 |
| Income | $0.364 |
| Extra income | -- |
| Short-term cap. gain | -- |
| Long-term cap. gain | $0.378 |
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
See how this fund stacks up against its peers with FundVisualizer®
New to FundVisualizer? Watch tutorials on how to get started.
For more tutorials, please visit fundvisualizer.com
** FundVisualizer comparison based on Putnam fund versus the largest fund in its Morningstar category.
Holdings
| Sony Group Corp | 2.71% |
|---|---|
| Astrazeneca | 2.45% |
| Diageo | 2.39% |
| Hoya Corp | 2.20% |
| Reliance Industries | 2.09% |
| Liberty Global | 2.04% |
| Mitsubishi Ufj Financial Group | 2.02% |
| Deutsche Post Ag | 1.99% |
| Royal Dutch Shell | 1.98% |
| Renesas Electronics Corp | 1.98% |
| Top 10 holdings, percent of portfolio | 21.85% |
| Top 10 holdings as of 09/30/21 | |
|---|---|
| Sony Group Corp | |
| Astrazeneca | |
| Diageo | |
| Hoya Corp | |
| Reliance Industries | |
| Liberty Global | |
| Mitsubishi Ufj Financial Group | |
| Deutsche Post Ag | |
| Royal Dutch Shell | |
| Renesas Electronics Corp | |
| Holdings represent 21.85% of portfolio | |
| Top 10 holdings as of 08/31/21 | |
|---|---|
| Lonza Group Ag | |
| Sony Group Corp | |
| Merck Kgaa | |
| Diageo | |
| Schneider Electric | |
| Hoya Corp | |
| Deutsche Post Ag | |
| Aia Group | |
| Brenntag | |
| Liberty Global | |
| Holdings represent 21.94% of portfolio | |
| Top 10 holdings as of 07/31/21 | |
|---|---|
| Diageo | |
| Sony Group Corp | |
| Lonza Group Ag | |
| Schneider Electric | |
| Aia Group | |
| Merck Kgaa | |
| Deutsche Post Ag | |
| Brenntag | |
| Nexi Spa | |
| Abb Limited | |
| Holdings represent 21.75% of portfolio | |
| Top 10 holdings as of 06/30/21 | |
|---|---|
| Diageo | |
| Sony Group Corp | |
| Aia Group | |
| Lonza Group Ag | |
| Nexi Spa | |
| Schneider Electric | |
| Asahi Group Holdings | |
| Merck Kgaa | |
| Zalando Ag | |
| Brenntag | |
| Holdings represent 21.51% of portfolio | |
| SONY GROUP CORP SEDOL 6821506 | 2.71% |
|---|---|
| ASTRAZENECA PLC SEDOL 0989529 | 2.45% |
| DIAGEO PLC SEDOL 0237400 | 2.39% |
| HOYA CORP SEDOL 6441506 | 2.20% |
| RELIANC-GDR 144A 144A SEDOL B16CYP9 | 2.10% |
| LIBERTY GLOBAL PLC- C SEDOL B8W67B1 | 2.04% |
| MITSUBISHI UFJ FINANCIAL GRO SEDOL 6335171 | 2.02% |
| DEUTSCHE POST AG-REG SEDOL 4617859 | 1.98% |
| ROYAL DUTCH SHELL PLC-B SHS SEDOL B03MM40 | 1.98% |
| RENESAS ELECTRONICS CORP SEDOL 6635677 | 1.98% |
| LONZA GROUP AG-REG SEDOL 7333378 | 1.97% |
| MERCK KGAA SEDOL 4741844 | 1.96% |
| BNP PARIBAS SEDOL 7309681 | 1.94% |
| YAMAHA MOTOR CO LTD SEDOL 6985264 | 1.88% |
| BRENNTAG SE SEDOL B4YVF56 | 1.88% |
| AXA SA SEDOL 7088429 | 1.83% |
| ZOZO INC SEDOL B292RC1 | 1.82% |
| HANA FINANCIAL GROUP SEDOL B0RNRF5 | 1.80% |
| EDP-ENERGIAS DE PORTUGAL SA SEDOL 4103596 | 1.79% |
| TATA CONSULTANCY SVS LTD SEDOL B01NPJ1 | 1.78% |
| OTIS WORLDWIDE CORP SEDOL BK531S8 | 1.73% |
| MINEBEA CO LTD SEDOL 6642406 | 1.68% |
| KDDI CORP SEDOL 6248990 | 1.65% |
| SK TELECOM SEDOL 6224871 | 1.64% |
| COMPAGNIE DE SAINT-GOBAIN SEDOL 7380482 | 1.60% |
| LINDE PLC SEDOL BYWD9S5 | 1.60% |
| ABB LTD-REG SEDOL 7108899 | 1.60% |
| BANK OF IRELAND GROUP PLC SEDOL BD1RP61 | 1.60% |
| THALES SA SEDOL 4162791 | 1.59% |
| SCHNEIDER ELECTRIC SE SEDOL 4834108 | 1.55% |
| SAMSUNG ELECTRONICS-PREF SEDOL 6773812 | 1.54% |
| FLUTTER ENTERTAINMENT PLC-DI SEDOL BWXC0Z1 | 1.53% |
| NEXI SPA SEDOL BJ1F880 | 1.52% |
| ASAHI GROUP HOLDINGS LTD SEDOL 6054409 | 1.52% |
| CRH PLC SEDOL 4182249 | 1.51% |
| CAIXABANK SA SEDOL B283W97 | 1.48% |
| PRUDENTIAL PLC SEDOL 0709954 | 1.36% |
| DEUTSCHE BOERSE AG SEDOL 7021963 | 1.36% |
| SSE PLC SEDOL 0790873 | 1.34% |
| MICHELIN (CGDE) SEDOL 4588364 | 1.33% |
| SIG COMBIBLOC GROUP AG SEDOL BD5GN60 | 1.32% |
| COCA-COLA EUROPACIFIC PARTNE SEDOL BYQQ3P5 | 1.32% |
| ZALANDO SE SEDOL BQV0SV7 | 1.31% |
| ROCHE HOLDING AG-GENUSSCHEIN SEDOL 7110388 | 1.31% |
| ORSTED A/S SEDOL BYT16L4 | 1.25% |
| AKZO NOBEL N.V. SEDOL BJ2KSG2 | 1.21% |
| SBERBANK PJSC -SPONSORED ADR SEDOL B5SC091 | 1.20% |
| NETWORK INTERNATIONAL HOLDIN SEDOL BH3VJ78 | 1.20% |
| ALLFUNDS GROUP PLC SEDOL BNTJ354 | 1.17% |
| COCA-COLA HBC AG-DI SEDOL B9895B7 | 1.12% |
| TAIWAN SEMICONDUCTOR MANUFAC SEDOL 6889106 | 1.12% |
| CNH INDUSTRIAL NV SEDOL BDSV2V0 | 1.11% |
| OPAP SA SEDOL 7107250 | 1.10% |
| ADYEN NV SEDOL BZ1HM42 | 1.08% |
| ICON PLC SEDOL B94G471 | 1.05% |
| ABCAM PLC SEDOL B677469 | 1.02% |
| AIA GROUP LTD SEDOL B4TX8S1 | 1.02% |
| ALIBABA GROUP HOLDING LTD SEDOL BK6YZP5 | 1.01% |
| AMADEUS IT GROUP SA SEDOL B3MSM28 | 0.99% |
| THOMSON REUTERS CORP SEDOL BFXPTB0 | 0.96% |
| MONCLER SPA SEDOL BGLP232 | 0.78% |
| ORACLE CORP JAPAN SEDOL 6141680 | 0.73% |
| GINKGO BIOWORKS HOLDINGS INC SEDOL BN6KXF0 | 0.57% |
| CENOVUS ENERGY INC SEDOL B57FG04 | 0.56% |
| KINGFISHER PLC SEDOL 3319521 | 0.55% |
| LG CHEM LTD SEDOL 6346913 | 0.53% |
| AUTO1 GROUP SE 144A SEDOL BL5C4C7 | 0.51% |
| RECORDATI INDUSTRIA CHIMICA SEDOL B07DRZ5 | 0.38% |
| TREASURY BILL 00.0000 10/14/2021 | 0.26% |
| KRW/USD 11/17/2021 JPMCB | 0.17% |
| TREASURY BILL 00.0000 10/19/2021 | 0.08% |
| EUR/USD 12/15/2021 UBS | 0.06% |
| GBP/USD 12/15/2021 WPAC | 0.06% |
| GBP/USD 12/15/2021 UBS | 0.05% |
| GBP/USD 12/15/2021 SSBT | 0.05% |
| EUR/USD 12/15/2021 SSBT | 0.05% |
| TREASURY BILL 00.0000 10/05/2021 | 0.03% |
| EUR/USD 12/15/2021 MSCIL | 0.03% |
| EUR/USD 12/15/2021 RBSF | 0.03% |
| TREASURY BILL 00.0000 10/07/2021 | 0.02% |
| CHF/USD 12/15/2021 HSBCB | 0.02% |
| EUR/USD 12/15/2021 BCAP-FX | 0.02% |
| GBP/USD 12/15/2021 CITI | 0.02% |
| GBP/USD 12/15/2021 RBSF | 0.02% |
| KRW/USD 11/17/2021 GSFX | 0.01% |
| CAD/USD 10/20/2021 TDBK | 0.01% |
| GBP/USD 12/15/2021 BANKAM | 0.01% |
| EUR/USD 12/15/2021 TDBK | 0.01% |
| AUD/USD 10/20/2021 GSFX | 0.01% |
| CAD/USD 10/20/2021 MSCIL | 0.01% |
| CAD/USD 10/20/2021 RBSF | 0.01% |
| ILS/USD 10/20/2021 SSBT | 0.01% |
| CAD/USD 10/20/2021 WPAC | 0.01% |
| JPY/USD 11/17/2021 JPMCB | 0.01% |
| CNH/USD 11/17/2021 SSBT | 0.01% |
| GBP/USD 12/15/2021 BCAP-FX | 0.01% |
| JPY/USD 11/17/2021 MSCIL | 0.01% |
| JPY/USD 11/17/2021 GSFX | 0.00% |
| JPY/USD 11/17/2021 UBS | 0.00% |
| CAD/USD 10/20/2021 BCAP-FX | 0.00% |
| CAD/USD 10/20/2021 JPMCB | 0.00% |
| JPY/USD 11/17/2021 HSBCB | 0.00% |
| CAD/USD 10/20/2021 BANKAM | 0.00% |
| JPY/USD 11/17/2021 WPAC | 0.00% |
| CNH/USD 11/17/2021 HSBCB | 0.00% |
| JPY/USD 11/17/2021 BCAP-FX | 0.00% |
| HC BRILLANT SERVICES GMBH P/P | 0.00% |
| HKD/USD 11/17/2021 BCAP-FX | 0.00% |
| HKD/USD 11/17/2021 CITI | 0.00% |
| HKD/USD 11/17/2021 HSBCB | 0.00% |
| HKD/USD 11/17/2021 RBSF | 0.00% |
| HKD/USD 11/17/2021 UBS | 0.00% |
| CNH/USD 11/17/2021 GSFX | -0.00% |
| NZD/USD 10/20/2021 JPMCB | -0.00% |
| NZD/USD 10/20/2021 MSCIL | -0.00% |
| JPY/USD 11/17/2021 RBSF | -0.00% |
| EUR/USD 12/15/2021 HSBCB | -0.00% |
| SEK/USD 12/15/2021 GSFX | -0.00% |
| SGD/USD 11/17/2021 JPMCB | -0.00% |
| CHF/USD 12/15/2021 GSFX | -0.00% |
| CHF/USD 12/15/2021 UBS | -0.00% |
| JPY/USD 11/17/2021 CITI | -0.00% |
| NOK/USD 12/15/2021 BANKAM | -0.00% |
| CAD/USD 10/20/2021 SSBT | -0.01% |
| CNH/USD 11/17/2021 CITI | -0.01% |
| SEK/USD 12/15/2021 BANKAM | -0.01% |
| EUR/USD 12/15/2021 BANKAM | -0.01% |
| EUR/USD 12/15/2021 GSFX | -0.01% |
| GBP/USD 12/15/2021 CSI-FX | -0.01% |
| GBP/USD 12/15/2021 JPMCB | -0.01% |
| CAD/USD 10/20/2021 CITI | -0.01% |
| GBP/USD 12/15/2021 TDBK | -0.01% |
| CHF/USD 12/15/2021 BANKAM | -0.01% |
| CNH/USD 11/17/2021 BANKAM | -0.01% |
| SEK/USD 12/15/2021 HSBCB | -0.01% |
| SEK/USD 12/15/2021 UBS | -0.01% |
| CAD/USD 10/20/2021 UBS | -0.01% |
| CHF/USD 12/15/2021 RBSF | -0.01% |
| AUD/USD 10/20/2021 CITI | -0.02% |
| SEK/USD 12/15/2021 RBSF | -0.02% |
| EUR/USD 12/15/2021 CITI | -0.02% |
| CHF/USD 12/15/2021 MSCIL | -0.02% |
| GBP/USD 12/15/2021 MSCIL | -0.02% |
| SEK/USD 12/15/2021 JPMCB | -0.02% |
| JPY/USD 11/17/2021 SSBT | -0.02% |
| AUD/USD 10/20/2021 SSBT | -0.02% |
| AUD/USD 10/20/2021 HSBCB | -0.03% |
| DKK/USD 12/15/2021 CITI | -0.03% |
| GBP/USD 12/15/2021 GSFX | -0.03% |
| AUD/USD 10/20/2021 WPAC | -0.04% |
| EUR/USD 12/15/2021 WPAC | -0.04% |
| JPY/USD 11/17/2021 BANKAM | -0.04% |
| AUD/USD 10/20/2021 BANKAM | -0.05% |
| EUR/USD 12/15/2021 JPMCB | -0.06% |
| GBP/USD 12/15/2021 HSBCB | -0.09% |
| DIAGEO PLC SEDOL 0237400 | 2.53% |
|---|---|
| SONY GROUP CORP SEDOL 6821506 | 2.43% |
| AIA GROUP LTD SEDOL B4TX8S1 | 2.42% |
| LONZA GROUP AG-REG SEDOL 7333378 | 2.24% |
| NEXI SPA SEDOL BJ1F880 | 2.20% |
| SCHNEIDER ELECTRIC SE SEDOL 4834108 | 2.06% |
| ASAHI GROUP HOLDINGS LTD SEDOL 6054409 | 1.98% |
| MERCK KGAA SEDOL 4741844 | 1.91% |
| ZALANDO SE SEDOL BQV0SV7 | 1.89% |
| BRENNTAG SE SEDOL B4YVF56 | 1.85% |
| RELIANC-GDR 144A 144A SEDOL B16CYP9 | 1.83% |
| BNP PARIBAS SEDOL 7309681 | 1.83% |
| THALES SA SEDOL 4162791 | 1.81% |
| ABB LTD-REG SEDOL 7108899 | 1.78% |
| ORSTED A/S SEDOL BYT16L4 | 1.77% |
| LIBERTY GLOBAL PLC- C SEDOL B8W67B1 | 1.74% |
| MONCLER SPA SEDOL BGLP232 | 1.74% |
| DEUTSCHE POST AG-REG SEDOL 4617859 | 1.73% |
| YAMAHA MOTOR CO LTD SEDOL 6985264 | 1.71% |
| OTIS WORLDWIDE CORP SEDOL BK531S8 | 1.70% |
| SK TELECOM SEDOL 6224871 | 1.69% |
| CRH PLC SEDOL 4182249 | 1.68% |
| COCA-COLA HBC AG-DI SEDOL B9895B7 | 1.65% |
| HOYA CORP SEDOL 6441506 | 1.60% |
| LG CHEM LTD SEDOL 6346913 | 1.60% |
| COMPAGNIE DE SAINT-GOBAIN SEDOL 7380482 | 1.60% |
| RENESAS ELECTRONICS CORP SEDOL 6635677 | 1.59% |
| CENOVUS ENERGY INC SEDOL B57FG04 | 1.59% |
| EDP-ENERGIAS DE PORTUGAL SA SEDOL 4103596 | 1.58% |
| AXA SA SEDOL 7088429 | 1.58% |
| HANA FINANCIAL GROUP SEDOL B0RNRF5 | 1.57% |
| SAMSUNG ELECTRONICS-PREF SEDOL 6773812 | 1.57% |
| BHP GROUP LTD SEDOL 6144690 | 1.55% |
| ASTRAZENECA PLC SEDOL 0989529 | 1.54% |
| MINEBEA CO LTD SEDOL 6642406 | 1.50% |
| CAIXABANK SA SEDOL B283W97 | 1.48% |
| ROYAL DUTCH SHELL PLC-B SHS SEDOL B03MM40 | 1.48% |
| TATA CONSULTANCY SVS LTD SEDOL B01NPJ1 | 1.48% |
| AKZO NOBEL N.V. SEDOL BJ2KSG2 | 1.46% |
| AUTO1 GROUP SE 144A SEDOL BL5C4C7 | 1.45% |
| DEUTSCHE BOERSE AG SEDOL 7021963 | 1.44% |
| TAIWAN SEMICONDUCTOR MANUFAC SEDOL 6889106 | 1.43% |
| MICHELIN (CGDE) SEDOL 4588364 | 1.37% |
| LINDE PLC SEDOL BYWD9S5 | 1.35% |
| FLUTTER ENTERTAINMENT PLC-DI SEDOL BWXC0Z1 | 1.35% |
| SIG COMBIBLOC GROUP AG SEDOL BD5GN60 | 1.34% |
| MITSUBISHI UFJ FINANCIAL GRO SEDOL 6335171 | 1.25% |
| PRUDENTIAL PLC SEDOL 0709954 | 1.25% |
| ALIBABA GROUP HOLDING LTD SEDOL BK6YZP5 | 1.24% |
| QIAGEN N.V. SEDOL BYXS699 | 1.22% |
| BANK OF IRELAND GROUP PLC SEDOL BD1RP61 | 1.18% |
| ZOZO INC SEDOL B292RC1 | 1.17% |
| NETWORK INTERNATIONAL HOLDIN SEDOL BH3VJ78 | 1.14% |
| JAPAN EXCHANGE GROUP INC SEDOL 6743882 | 1.14% |
| COCA-COLA EUROPACIFIC PARTNE SEDOL BYQQ3P5 | 1.12% |
| CNH INDUSTRIAL NV SEDOL BDSV2V0 | 1.07% |
| SBERBANK PJSC -SPONSORED ADR SEDOL B5SC091 | 1.06% |
| AP MOLLER-MAERSK A/S-B SEDOL 4253048 | 1.05% |
| KINGFISHER PLC SEDOL 3319521 | 1.04% |
| ABCAM PLC SEDOL B677469 | 0.96% |
| OPAP SA SEDOL 7107250 | 0.96% |
| ADYEN NV SEDOL BZ1HM42 | 0.94% |
| ALLFUNDS GROUP PLC SEDOL BNTJ354 | 0.90% |
| DNB NOR ASA SEDOL 4263304 | 0.78% |
| LITE-ON TECHNOLOGY CORP SEDOL 6519481 | 0.70% |
| SOARING EAGLE ACQU - CL A SEDOL BNQP3R7 | 0.48% |
| TREASURY BILL 00.0000 10/14/2021 | 0.19% |
| EUR/USD 09/15/2021 UBS | 0.09% |
| EUR/USD 09/15/2021 SSBT | 0.08% |
| GBP/USD 09/15/2021 WPAC | 0.06% |
| TREASURY BILL 00.0000 07/06/2021 | 0.05% |
| GBP/USD 09/15/2021 UBS | 0.04% |
| EUR/USD 09/15/2021 BCAP-FX | 0.04% |
| CASH MGMT BILL 00.0000 09/07/2021 | 0.04% |
| KRW/USD 08/18/2021 JPMCB | 0.04% |
| CASH MGMT BILL 00.0000 10/05/2021 | 0.03% |
| EUR/USD 09/15/2021 MSCIL | 0.03% |
| CASH MGMT BILL 00.0000 09/14/2021 | 0.03% |
| CAD/USD 07/21/2021 CITI | 0.02% |
| EUR/USD 09/15/2021 RBSF | 0.02% |
| JPY/USD 08/18/2021 MSCIL | 0.02% |
| GBP/USD 09/15/2021 CITI | 0.02% |
| CAD/USD 07/21/2021 UBS | 0.02% |
| JPY/USD 08/18/2021 JPMCB | 0.02% |
| AUD/USD 07/21/2021 GSFX | 0.02% |
| EUR/USD 09/15/2021 TDBK | 0.01% |
| NOK/USD 09/15/2021 MSCIL | 0.01% |
| GBP/USD 09/15/2021 RBSF | 0.01% |
| DKK/USD 09/15/2021 CITI | 0.01% |
| JPY/USD 08/18/2021 GSFX | 0.01% |
| JPY/USD 08/18/2021 RBSF | 0.01% |
| CAD/USD 07/21/2021 SSBT | 0.01% |
| CNH/USD 08/18/2021 SSBT | 0.01% |
| JPY/USD 08/18/2021 HSBCB | 0.01% |
| ILS/USD 07/21/2021 SSBT | 0.01% |
| CASH MGMT BILL 00.0000 09/28/2021 | 0.00% |
| GBP/USD 09/15/2021 BCAP-FX | 0.00% |
| TREASURY BILL 00.0000 07/27/2021 | 0.00% |
| GBP/USD 09/15/2021 SSBT | 0.00% |
| KRW/USD 08/18/2021 GSFX | 0.00% |
| AUD/USD 07/21/2021 JPMCB | 0.00% |
| AUD/USD 07/21/2021 MSCIL | 0.00% |
| CHF/USD 09/15/2021 JPMCB | 0.00% |
| CHF/USD 09/15/2021 UBS | 0.00% |
| CNH/USD 08/18/2021 BANKAM | 0.00% |
| CNH/USD 08/18/2021 HSBCB | 0.00% |
| CNH/USD 08/18/2021 UBS | 0.00% |
| DKK/USD 09/15/2021 BANKAM | 0.00% |
| GBP/USD 09/15/2021 CSI-FX | 0.00% |
| HC BRILLANT SERVICES GMBH P/P | 0.00% |
| HKD/USD 08/18/2021 BCAP-FX | 0.00% |
| HKD/USD 08/18/2021 CITI | 0.00% |
| HKD/USD 08/18/2021 HSBCB | 0.00% |
| HKD/USD 08/18/2021 JPMCB | 0.00% |
| HKD/USD 08/18/2021 RBSF | 0.00% |
| HKD/USD 08/18/2021 SSBT | 0.00% |
| HKD/USD 08/18/2021 UBS | 0.00% |
| NOK/USD 09/15/2021 UBS | 0.00% |
| NZD/USD 07/21/2021 CITI | 0.00% |
| NZD/USD 07/21/2021 SSBT | 0.00% |
| SEK/USD 09/15/2021 BCAP-FX | 0.00% |
| SEK/USD 09/15/2021 CITI | 0.00% |
| SEK/USD 09/15/2021 MSCIL | 0.00% |
| SEK/USD 09/15/2021 SSBT | 0.00% |
| JPY/USD 08/18/2021 BCAP-FX | -0.00% |
| NOK/USD 09/15/2021 JPMCB | -0.00% |
| NZD/USD 07/21/2021 MSCIL | -0.00% |
| CAD/USD 07/21/2021 BANKAM | -0.00% |
| NZD/USD 07/21/2021 JPMCB | -0.00% |
| CNH/USD 08/18/2021 CITI | -0.00% |
| CNH/USD 08/18/2021 GSFX | -0.00% |
| AUD/USD 07/21/2021 BANKAM | -0.00% |
| CAD/USD 07/21/2021 BCAP-FX | -0.00% |
| CAD/USD 07/21/2021 JPMCB | -0.00% |
| SGD/USD 08/18/2021 JPMCB | -0.01% |
| AUD/USD 07/21/2021 CITI | -0.01% |
| EUR/USD 09/15/2021 HSBCB | -0.01% |
| GBP/USD 09/15/2021 JPMCB | -0.01% |
| GBP/USD 09/15/2021 TDBK | -0.01% |
| SEK/USD 09/15/2021 GSFX | -0.01% |
| EUR/USD 09/15/2021 GSFX | -0.01% |
| CAD/USD 07/21/2021 WPAC | -0.01% |
| CAD/USD 07/21/2021 MSCIL | -0.01% |
| CHF/USD 09/15/2021 HSBCB | -0.01% |
| CAD/USD 07/21/2021 RBSF | -0.01% |
| EUR/USD 09/15/2021 BANKAM | -0.01% |
| JPY/USD 08/18/2021 CITI | -0.01% |
| SEK/USD 09/15/2021 BANKAM | -0.01% |
| JPY/USD 08/18/2021 UBS | -0.01% |
| CAD/USD 07/21/2021 TDBK | -0.01% |
| AUD/USD 07/21/2021 HSBCB | -0.02% |
| CHF/USD 09/15/2021 RBSF | -0.02% |
| GBP/USD 09/15/2021 BANKAM | -0.02% |
| JPY/USD 08/18/2021 WPAC | -0.02% |
| AUD/USD 07/21/2021 SSBT | -0.02% |
| GBP/USD 09/15/2021 MSCIL | -0.02% |
| AUD/USD 07/21/2021 WPAC | -0.02% |
| SEK/USD 09/15/2021 UBS | -0.02% |
| SEK/USD 09/15/2021 HSBCB | -0.02% |
| EUR/USD 09/15/2021 CITI | -0.02% |
| CHF/USD 09/15/2021 GSFX | -0.02% |
| GBP/USD 09/15/2021 GSFX | -0.03% |
| SEK/USD 09/15/2021 RBSF | -0.03% |
| CHF/USD 09/15/2021 MSCIL | -0.03% |
| SEK/USD 09/15/2021 JPMCB | -0.04% |
| JPY/USD 08/18/2021 SSBT | -0.04% |
| EUR/USD 09/15/2021 WPAC | -0.05% |
| EUR/USD 09/15/2021 JPMCB | -0.06% |
| GBP/USD 09/15/2021 HSBCB | -0.08% |
| JPY/USD 08/18/2021 BANKAM | -0.10% |
Portfolio composition as of 09/30/21
| Common stock | 97.17% |
|---|---|
| Preferred stock | 1.54% |
| Cash and net other assets | 1.29% |
Equity statistics as of 09/30/21
| Median market cap | $28.57B |
|---|---|
| Weighted average market cap | $75.78B |
| Price to book | 2.24 |
| Price to earnings | 15.63 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments focused in a single region may be affected by common economic forces and other factors. In addition, events in any one country within the region may impact the other countries or the region as a whole. Because the fund currently, and may in the future, invest significantly in European companies, the fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers in Europe. European financial markets have in recent years experienced increased volatility due to concerns with some countries’ high levels of sovereign debt, budget deficits, and unemployment. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. 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 09/30/21
| Financials | 16.77% |
|---|---|
| Industrials | 15.69% |
| Consumer discretionary | 14.53% |
| Health care | 12.92% |
| Information technology | 11.93% |
| Consumer staples | 6.34% |
| Materials | 6.17% |
| Communication services | 5.34% |
| Energy | 4.64% |
| Other | 5.67% |
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.
Country allocation as of 09/30/21
| Japan | 18.20% |
|---|---|
| United Kingdom | 16.73% |
| France | 9.85% |
| Germany | 9.01% |
| Switzerland | 7.32% |
| Ireland | 5.68% |
| South Korea | 5.51% |
| United States | 3.90% |
| India | 3.87% |
| Other | 19.93% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| Total expense ratio | 1.21% | 1.96% | 1.96% | 1.46% | 0.87% | 0.77% | 0.96% |
| What you pay | 1.21% | 1.96% | 1.96% | 1.46% | 0.87% | 0.77% | 0.96% |
Sales charge
| Breakpoint | Class A | Class B | Class C | Class R | Class R5 | 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 R5 | 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 R5 | Class R6 | Class Y | |
|---|---|---|---|---|---|---|---|
| 0.25% | 0.25% | 1.00% | 0.50% | 0.00% | 0.00% | 0.00% | |
| NA | NA | 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 MSCI EAFE Index is an unmanaged index of equity securities from developed countries in Western Europe, the Far East, and Australasia. You cannot invest directly in an index.
Consider these risks before investing: International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments focused in a single region may be affected by common economic forces and other factors. In addition, events in any one country within the region may impact the other countries or the region as a whole. Because the fund currently, and may in the future, invest significantly in European companies, the fund is particularly susceptible to economic, political, regulatory or other events or conditions affecting issuers in Europe. European financial markets have in recent years experienced increased volatility due to concerns with some countries’ high levels of sovereign debt, budget deficits, and unemployment. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. 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. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. 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.