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 AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, 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.
Active Equities
Small Cap Value Fund (Class Y) (PYSVX)
Pursuing capital appreciation through undervalued 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.
- Active value strategy: The portfolio manager seeks attractively valued companies with improving fundamentals or catalysts that may unlock value.
- Rigorous research: The portfolio manager and a team of senior research analysts offer the collaboration of a boutique with the extensive resources of a large, global firm.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$8.56
4.52% | $0.37 |
$11.98
01/16/20 |
$5.96
03/18/20 |
Fund facts as of 04/30/20
$131.80M
108%
Annually
113
February
746802289 / 1853
01/03/01
Value
PYSVX
Literature
Fund documents |
| Prospectuses/SAI |
| Fund Profile (PDF) |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (Y share) (PDF) |
| Annual Report (PDF) |
| Semiannual Report (PDF) |
| Equity Outlook (PDF) |
| Comparing Putnam's U.S. equity funds (PDF) |
| Proxy voting results (Form N-PX) (PDF) |
Performance
Total return (%) as of 03/31/20
Annual performance as of 03/31/20
Annualized Total return (%) as of 03/31/20
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | -34.89% | -14.14% | -5.10% | 3.85% |
| After sales charge | N/A | N/A | N/A | N/A |
| Russell 2000 Value Index | -29.64% | -9.51% | -2.42% | 4.79% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 04/30/20 | 15.24% | - | |
| YTD as of 05/26/20 | -27.52% | - | |
Risk-adjusted performance as of 04/30/20
| Alpha (3 yrs.) | -3.27 |
|---|---|
| Sharpe ratio (3 yrs.) | -0.45 |
| Treynor ratio (3 yrs.) | -10.64 |
| Information ratio (3 yrs.) | -0.77 |
Volatility as of 04/30/20
| Standard deviation (3 yrs.) | 26.65% |
|---|---|
| Beta | 1.13 |
| R-squared | 0.97 |
Capture ratio as of 04/30/20
| Up-market (3 yrs.) | 94.57 |
|---|---|
| Down-market (3 yrs.) | 109.52 |
Lipper rankings as of 04/30/20
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 184/237 | 78% |
| 3 yrs. | 188/221 | 85% |
| 5 yrs. | 128/197 | 65% |
| 10 yrs. | 75/130 | 58% |
Morningstar Ratings™ as of 04/30/20
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 406 | |
| 3 yrs. | 406 | |
| 5 yrs. | 357 | |
| 10 yrs. | 252 |
Distributions
| Record/Ex dividend date | 12/05/19 |
|---|---|
| Payable date | 12/09/19 |
| Income | $0.166 |
| Extra income | -- |
| Short-term cap. gain | -- |
| Long-term cap. gain | -- |
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
| Vectrus | 1.63% |
|---|---|
| Qts Realty Trust | 1.56% |
| Caci International | 1.52% |
| Scorpio Tankers | 1.48% |
| Purple Innovation | 1.47% |
| Parsons Corp | 1.38% |
| Unitil Corp | 1.34% |
| Ladder Capital Corp | 1.32% |
| Silgan Holdings | 1.32% |
| Element Solutions | 1.31% |
| Top 10 holdings, percent of portfolio | 14.33% |
| Top 10 holdings as of 04/30/20 | |
|---|---|
| Vectrus | |
| Qts Realty Trust | |
| Caci International | |
| Scorpio Tankers | |
| Purple Innovation | |
| Parsons Corp | |
| Unitil Corp | |
| Ladder Capital Corp | |
| Silgan Holdings | |
| Element Solutions | |
| Holdings represent 14.33% of portfolio | |
| Top 10 holdings as of 03/31/20 | |
|---|---|
| Scorpio Tankers | |
| Qts Realty Trust | |
| Meet Group The | |
| Ingles Markets | |
| Unitil Corp | |
| Caci International | |
| Vectrus | |
| Vista Outdoor | |
| Jabil | |
| Prestige Consumer Healthcare | |
| Holdings represent 15.32% of portfolio | |
| Top 10 holdings as of 02/29/20 | |
|---|---|
| Photronics | |
| Qts Realty Trust | |
| Brookdale Senior Living | |
| Investors Bancorp | |
| Quanex Building Products Corp | |
| Spirit Realty Capital | |
| Cars.Com | |
| Louisiana-Pacific Corp | |
| Sterling Bancorp/De | |
| Vectrus | |
| Holdings represent 12.62% of portfolio | |
| Top 10 holdings as of 01/31/20 | |
|---|---|
| Investors Bancorp | |
| Sterling Bancorp/De | |
| Cars.Com | |
| Spirit Realty Capital | |
| Brookdale Senior Living | |
| Magellan Health | |
| Palomar Holdings | |
| Synnex Corp | |
| Photronics | |
| Qts Realty Trust | |
| Holdings represent 12.86% of portfolio | |
| SCORPIO TANKERS INC SEDOL BHXD297 | 1.70% |
|---|---|
| QTS REALTY TRUST INC-CL A SEDOL BDSV8H8 | 1.65% |
| MEET GROUP INC/THE SEDOL BYWW6W5 | 1.60% |
| INGLES MARKETS INC-CLASS A SEDOL 2460550 | 1.57% |
| UNITIL CORP SEDOL 2925037 | 1.54% |
| CACI INTERNATIONAL INC -CL A SEDOL 2159267 | 1.50% |
| VECTRUS INC SEDOL BQS2V17 | 1.49% |
| VISTA OUTDOOR INC SEDOL BVGC697 | 1.47% |
| JABIL INC SEDOL 2471789 | 1.41% |
| PRESTIGE CONSUMER HEALTHCARE SEDOL B0650P3 | 1.39% |
| SILICON MOTION TECHNOL-ADR SEDOL B0CL646 | 1.35% |
| ELEMENT SOLUTIONS INC SEDOL BJ1C2K1 | 1.33% |
| PHOTRONICS INC SEDOL 2687315 | 1.32% |
| SILGAN HOLDINGS INC SEDOL 2809324 | 1.32% |
| QCR HOLDINGS INC. | 1.31% |
| INVESTORS BANCORP INC SEDOL BMHT4M3 | 1.30% |
| PREMIER INC-CLASS A SEDOL BDZDRC5 | 1.28% |
| PORTLAND GENERAL ELECTRIC CO SEDOL B125XQ6 | 1.27% |
| PARSONS CORP SEDOL BJN4N02 | 1.26% |
| REXNORD CORP SEDOL B4NPMX6 | 1.24% |
| CONSOLIDATED WATER CO-ORD SH SEDOL 2099095 | 1.24% |
| UNISYS CORP SEDOL 2931595 | 1.24% |
| STERLING CONSTRUCTION CO | 1.22% |
| TCF FINANCIAL CORP SEDOL BK5FNZ5 | 1.22% |
| QUANEX BUILDING PRODUCTS SEDOL B2QXCJ9 | 1.17% |
| OFG BANCORP SEDOL B87LKR8 | 1.17% |
| FLAGSTAR BANCORP INC SEDOL B7SVZ97 | 1.17% |
| LOUISIANA-PACIFIC CORP SEDOL 2535243 | 1.17% |
| COLUMBUS MCKINNON CORP/NY SEDOL 2211071 | 1.16% |
| PNM RESOURCES INC SEDOL 2707826 | 1.16% |
| CONNECTONE BANCORP INC SEDOL BNQ4YF9 | 1.14% |
| ARGO GROUP INTERNATIONAL SEDOL 2499543 | 1.11% |
| PALOMAR HOLDINGS INC SEDOL BJYLZK6 | 1.11% |
| LIONS GATE ENTERTAINMENT-A SEDOL BD8NBC0 | 1.09% |
| ALPINE INCOME PROPERTY TRUST SEDOL BKMQX40 | 1.09% |
| SPIRIT REALTY CAPITAL INC SEDOL BHHZBZ8 | 1.08% |
| HERITAGE INSURANCE HOLDINGS SEDOL BMN9870 | 1.07% |
| MASONITE INTERNATIONAL CORP SEDOL BCZM468 | 1.05% |
| MAGELLAN HEALTH INC SEDOL 2307787 | 1.04% |
| GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 1.04% |
| FORMFACTOR INC SEDOL 2891826 | 1.03% |
| STERLING BANCORP/DE SEDOL BFNXVB8 | 1.02% |
| MYR GROUP INC/DELAWARE SEDOL B3CLS18 | 1.02% |
| AVAYA HOLDINGS CORP SEDOL BD9G9B3 | 1.01% |
| LAKELAND BANCORP INC SEDOL 2620031 | 1.00% |
| WALKER & DUNLOP INC SEDOL B4TZV44 | 0.99% |
| J2 GLOBAL INC SEDOL B75DGJ3 | 0.99% |
| LUMENTUM HOLDINGS INC SEDOL BYM9ZP2 | 0.98% |
| AMERESCO INC-CL A SEDOL B3SWPT2 | 0.96% |
| CORE-MARK HOLDING CO INC SEDOL B0637B2 | 0.96% |
| WESTERN ALLIANCE BANCORP SEDOL B0CCGJ4 | 0.95% |
| VERSO CORP - A SEDOL BYN9TR1 | 0.94% |
| TURNING POINT BRANDS INC SEDOL BYQ7X92 | 0.92% |
| FIRST HORIZON NATIONAL CORP | 0.90% |
| COOPER TIRE & RUBBER SEDOL 2222608 | 0.90% |
| BIG LOTS INC SEDOL 2218447 | 0.90% |
| INSIGHT ENTERPRISES INC SEDOL 2475060 | 0.90% |
| STORE CAPITAL CORP SEDOL BSKRKJ5 | 0.88% |
| SYNNEX CORP SEDOL 2002554 | 0.88% |
| CECO ENVIRONMENTAL CORP SEDOL 2011970 | 0.88% |
| CLARUS CORP SEDOL BF5QHG2 | 0.86% |
| IMAX CORP SEDOL 2473859 | 0.82% |
| WILLSCOT CORP SEDOL BF6QP89 | 0.81% |
| SHOE CARNIVAL INC SEDOL 2805474 | 0.81% |
| ACADIA HEALTHCARE CO INC SEDOL B65VZ37 | 0.80% |
| PLYMOUTH INDUSTRIAL REIT INC SEDOL BF43645 | 0.80% |
| OWL ROCK CAPITAL CORP SEDOL BK0P8V1 | 0.80% |
| GMS INC SEDOL BYY9FS3 | 0.76% |
| SOUTHERN FIRST BANCSHARES SEDOL 2508030 | 0.75% |
| NEWPARK RESOURCES INC SEDOL 2636878 | 0.73% |
| MGIC INVESTMENT CORP SEDOL 2548616 | 0.73% |
| NESCO HOLDINGS INC SEDOL BHTGB71 | 0.73% |
| BROOKDALE SENIOR LIVING INC SEDOL B0PZN33 | 0.73% |
| DARDEN RESTAURANTS INC SEDOL 2289874 | 0.72% |
| BAYCOM CORP SEDOL BYSTY59 | 0.71% |
| PROFESSIONAL HOLDING CORP-A SEDOL BWTNW74 | 0.71% |
| MAYVILLE ENGINEERING CO INC SEDOL BJLD0Y4 | 0.70% |
| PURPLE INNOVATION INC SEDOL BYWFGP7 | 0.70% |
| BUILDERS FIRSTSOURCE INC SEDOL B0BV2M7 | 0.70% |
| SARATOGA INVESTMENT CORP SEDOL B1VPWH1 | 0.69% |
| AMERIS BANCORP SEDOL 2038849 | 0.67% |
| MASTEC INC SEDOL 2155306 | 0.65% |
| TRIPLEPOINT VENTURE GROWTH B SEDOL BK8G322 | 0.64% |
| FIRST DEFIANCE FINL CORP SEDOL 2356701 | 0.62% |
| WABASH NATIONAL CORP SEDOL 2932048 | 0.62% |
| FIRST BANCSHARES INC/MS SEDOL 2184300 | 0.60% |
| MRC GLOBAL INC SEDOL B7M66F1 | 0.58% |
| DINE BRANDS GLOBAL INC SEDOL 2456957 | 0.56% |
| LADDER CAPITAL CORP-REIT SEDOL BJ367P1 | 0.52% |
| TRICO BANCSHARES SEDOL 2904133 | 0.51% |
| CRESCENT CAPITAL BDC INC SEDOL BKKFCK8 | 0.51% |
| MAGNOLIA OIL & GAS CORP - A SEDOL BF2GC59 | 0.50% |
| ARCH COAL INC - A SEDOL BYYHNV6 | 0.49% |
| DIVERSIFIED HEALTHCARE TRUST SEDOL BKRN595 | 0.48% |
| MURPHY USA INC SEDOL BCZWJ63 | 0.45% |
| FIRST MERCHANTS CORP SEDOL 2342410 | 0.44% |
| UNIVEST FINANCIAL CORP SEDOL 2690636 | 0.44% |
| SELECT ENERGY SERVICES INC-A SEDOL BDHSLL5 | 0.44% |
| KKR REAL ESTATE FINANCE TRUS SEDOL BF0YMC2 | 0.41% |
| EMERALD HOLDING INC SEDOL BKT61V6 | 0.38% |
| GENESCO INC SEDOL 2367101 | 0.37% |
| RANGE RESOURCES CORP SEDOL 2523334 | 0.34% |
| COLUMBIA PROPERTY TRUST INC SEDOL BFLY9C0 | 0.32% |
| MAIN STREET CAPITAL CORP SEDOL B28BNR6 | 0.28% |
| COASTAL FINANCIAL CORP/WA SEDOL BF7J9X0 | 0.27% |
| PAR PACIFIC HOLDINGS INC SEDOL BJH08C3 | 0.25% |
| STIFEL FINANCIAL CORP SEDOL 2849234 | 0.16% |
| EXPRESS INC SEDOL B464DZ9 | 0.15% |
| NESCO HOLDINGS-CW25 SEDOL BJ01GS5 | 0.01% |
| BANCTEC INC-144A CONTINGENT VALUE RIGHTS | 0.00% |
| FERROGLOBE REPRESENTATION & | 0.00% |
| SCORPIO TANKERS INC SEDOL BHXD297 | 1.66% |
|---|---|
| PHOTRONICS INC SEDOL 2687315 | 1.44% |
| MAGELLAN HEALTH INC SEDOL 2307787 | 1.34% |
| TRONOX HOLDINGS PLC- A SEDOL BJT16S6 | 1.31% |
| BROOKDALE SENIOR LIVING INC SEDOL B0PZN33 | 1.28% |
| STERLING BANCORP/DE SEDOL BFNXVB8 | 1.26% |
| FIRST MERCHANTS CORP SEDOL 2342410 | 1.25% |
| MAGNOLIA OIL & GAS CORP - A SEDOL BF2GC59 | 1.25% |
| INVESTORS BANCORP INC SEDOL BMHT4M3 | 1.25% |
| OFG BANCORP SEDOL B87LKR8 | 1.23% |
| CARS.COM INC SEDOL BYXHTC0 | 1.22% |
| VECTRUS INC SEDOL BQS2V17 | 1.21% |
| TCF FINANCIAL CORP SEDOL BK5FNZ5 | 1.19% |
| PALOMAR HOLDINGS INC SEDOL BJYLZK6 | 1.18% |
| DIVERSIFIED HEALTHCARE TRUST SEDOL BKRN595 | 1.16% |
| JABIL INC SEDOL 2471789 | 1.15% |
| SYNNEX CORP SEDOL 2002554 | 1.14% |
| SPIRIT REALTY CAPITAL INC SEDOL BHHZBZ8 | 1.14% |
| INGLES MARKETS INC-CLASS A SEDOL 2460550 | 1.12% |
| GENESCO INC SEDOL 2367101 | 1.11% |
| SP PLUS CORP SEDOL BH2QZH6 | 1.10% |
| QTS REALTY TRUST INC-CL A SEDOL BDSV8H8 | 1.10% |
| CACI INTERNATIONAL INC -CL A SEDOL 2159267 | 1.08% |
| NEWMARK GROUP INC-CLASS A SEDOL BF1Q6P8 | 1.08% |
| LADDER CAPITAL CORP-REIT SEDOL BJ367P1 | 1.08% |
| PREFERRED BANK/LOS ANGELES SEDOL 2763602 | 1.07% |
| UNIVEST FINANCIAL CORP SEDOL 2690636 | 1.07% |
| BIG LOTS INC SEDOL 2218447 | 1.05% |
| SHOE CARNIVAL INC SEDOL 2805474 | 1.05% |
| PREMIER INC-CLASS A SEDOL BDZDRC5 | 1.05% |
| MESA AIR GROUP INC SEDOL BFZZJ96 | 1.04% |
| MEET GROUP INC/THE SEDOL BYWW6W5 | 1.04% |
| EMERALD EXPOSITIONS EVENTS I SEDOL BYQHPN0 | 1.02% |
| FORMFACTOR INC SEDOL 2891826 | 1.02% |
| COLUMBUS MCKINNON CORP/NY SEDOL 2211071 | 1.02% |
| ELEMENT SOLUTIONS INC SEDOL BJ1C2K1 | 1.00% |
| AMERESCO INC-CL A SEDOL B3SWPT2 | 1.00% |
| REXNORD CORP SEDOL B4NPMX6 | 1.00% |
| PURPLE INNOVATION INC SEDOL BYWFGP7 | 1.00% |
| UNITIL CORP SEDOL 2925037 | 1.00% |
| WINTRUST FINANCIAL CORP SEDOL 2425258 | 0.98% |
| HANCOCK WHITNEY CORP SEDOL 2415497 | 0.98% |
| CONNECTONE BANCORP INC SEDOL BNQ4YF9 | 0.97% |
| WALKER & DUNLOP INC SEDOL B4TZV44 | 0.96% |
| HERITAGE INSURANCE HOLDINGS SEDOL BMN9870 | 0.96% |
| COOPER TIRE & RUBBER SEDOL 2222608 | 0.95% |
| LOUISIANA-PACIFIC CORP SEDOL 2535243 | 0.95% |
| SYNOVUS FINANCIAL CORP SEDOL BMH4NJ8 | 0.94% |
| SILICON MOTION TECHNOL-ADR SEDOL B0CL646 | 0.94% |
| J2 GLOBAL INC SEDOL B75DGJ3 | 0.93% |
| QUANEX BUILDING PRODUCTS SEDOL B2QXCJ9 | 0.93% |
| FRANKLIN FINANCIAL NETWORK SEDOL B84SJL9 | 0.92% |
| COLUMBIA PROPERTY TRUST INC SEDOL BFLY9C0 | 0.92% |
| WILLSCOT CORP SEDOL BF6QP89 | 0.92% |
| FIRST DEFIANCE FINL CORP SEDOL 2356701 | 0.91% |
| LAKELAND BANCORP INC SEDOL 2620031 | 0.91% |
| PNM RESOURCES INC SEDOL 2707826 | 0.91% |
| CLEVELAND-CLIFFS INC SEDOL BYVZ186 | 0.91% |
| AMERIS BANCORP SEDOL 2038849 | 0.90% |
| PARSONS CORP SEDOL BJN4N02 | 0.90% |
| WESTERN ALLIANCE BANCORP SEDOL B0CCGJ4 | 0.90% |
| SILGAN HOLDINGS INC SEDOL 2809324 | 0.89% |
| FIRST HORIZON NATIONAL CORP | 0.89% |
| ACADIA HEALTHCARE CO INC SEDOL B65VZ37 | 0.88% |
| VERMILION ENERGY INC SEDOL B607XS1 | 0.88% |
| PORTLAND GENERAL ELECTRIC CO SEDOL B125XQ6 | 0.88% |
| MRC GLOBAL INC SEDOL B7M66F1 | 0.88% |
| CLARUS CORP SEDOL BF5QHG2 | 0.87% |
| DINE BRANDS GLOBAL INC SEDOL 2456957 | 0.86% |
| EAGLE MATERIALS INC | 0.86% |
| ARGO GROUP INTERNATIONAL SEDOL 2499543 | 0.86% |
| IBERIABANK CORP SEDOL 2452450 | 0.86% |
| SELECT ENERGY SERVICES INC-A SEDOL BDHSLL5 | 0.85% |
| STORE CAPITAL CORP SEDOL BSKRKJ5 | 0.85% |
| CONSOLIDATED WATER CO-ORD SH SEDOL 2099095 | 0.84% |
| TRIPLEPOINT VENTURE GROWTH B SEDOL BK8G322 | 0.84% |
| VERSO CORP - A SEDOL BYN9TR1 | 0.83% |
| NETGEAR INC SEDOL 2688363 | 0.82% |
| PROPETRO HOLDING CORP SEDOL BYXR9C0 | 0.82% |
| STERLING CONSTRUCTION CO | 0.82% |
| PAR PACIFIC HOLDINGS INC SEDOL BJH08C3 | 0.81% |
| MASONITE INTERNATIONAL CORP SEDOL BCZM468 | 0.80% |
| LIONS GATE ENTERTAINMENT-A SEDOL BD8NBC0 | 0.80% |
| MYR GROUP INC/DELAWARE SEDOL B3CLS18 | 0.80% |
| CEDAR FAIR LP SEDOL 2181453 | 0.79% |
| GMS INC SEDOL BYY9FS3 | 0.79% |
| CECO ENVIRONMENTAL CORP SEDOL 2011970 | 0.78% |
| CHATHAM LODGING TRUST SEDOL B5LYMC1 | 0.78% |
| CHEESECAKE FACTORY INC/THE SEDOL 2192392 | 0.78% |
| ALPINE INCOME PROPERTY TRUST SEDOL BKMQX40 | 0.76% |
| PLYMOUTH INDUSTRIAL REIT INC SEDOL BF43645 | 0.72% |
| GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 0.70% |
| SHENANDOAH TELECOMMUNICATION SEDOL 2676692 | 0.68% |
| ARCH COAL INC - A SEDOL BYYHNV6 | 0.65% |
| MGIC INVESTMENT CORP SEDOL 2548616 | 0.65% |
| SUPER MICRO COMPUTER INC SEDOL B1VQR35 | 0.64% |
| ALCENTRA CAPITAL CORP SEDOL BM7SDT0 | 0.61% |
| HOMESTREET INC SEDOL B4WHS46 | 0.57% |
| BLOOMIN' BRANDS INC SEDOL B847RJ0 | 0.56% |
| TRICO BANCSHARES SEDOL 2904133 | 0.50% |
| CAMDEN NATIONAL CORP SEDOL 2116659 | 0.50% |
| NESCO HOLDINGS INC SEDOL BHTGB71 | 0.49% |
| MAYVILLE ENGINEERING CO INC SEDOL BJLD0Y4 | 0.48% |
| CROSSFIRST BANKSHARES INC SEDOL BK0XBX8 | 0.39% |
| RANGE RESOURCES CORP SEDOL 2523334 | 0.38% |
| SOUTHERN FIRST BANCSHARES SEDOL 2508030 | 0.38% |
| QUAD GRAPHICS INC SEDOL B3YM983 | 0.37% |
| SYNAPTICS INC SEDOL 2839268 | 0.34% |
| EXPRESS INC SEDOL B464DZ9 | 0.20% |
| COASTAL FINANCIAL CORP/WA SEDOL BF7J9X0 | 0.20% |
| BEL FUSE INC-CL B | 0.20% |
| NESCO HOLDINGS-CW25 SEDOL BJ01GS5 | 0.01% |
| BANCTEC INC-144A CONTINGENT VALUE RIGHTS | 0.00% |
| FERROGLOBE REPRESENTATION & | 0.00% |
Portfolio composition as of 04/30/20
| Common stock | 98.69% |
|---|---|
| Cash and net other assets | 1.31% |
Equity statistics as of 04/30/20
| Median market cap | $0.93B |
|---|---|
| Weighted average market cap | $1.78B |
| Price to book | 1.13 |
| Price to earnings | 14.10 |
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. Value stocks may fail to rebound, and the market may not favor value-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. You can lose money by investing in the fund.
Top industry sectors as of 04/30/20
| Financials | 24.73% |
|---|---|
| Industrials | 16.09% |
| Information technology | 13.05% |
| Consumer discretionary | 11.30% |
| Real estate | 6.57% |
| Materials | 5.85% |
| Health care | 5.70% |
| Energy | 5.57% |
| Utilities | 4.32% |
| Other | 6.82% |
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 R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| Total expense ratio | 1.44% | 2.19% | 2.19% | 1.69% | 1.11% | 1.01% | 1.19% |
| What you pay | 1.44% | 2.19% | 2.19% | 1.69% | 1.11% | 1.01% | 1.19% |
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 Russell 2000 Value Index is an unmanaged index of those companies in the small-cap Russell 2000 Index chosen for their value 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. Value stocks may fail to rebound, and the market may not favor value-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. You can lose money by investing in the fund.