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
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 companiesOften overlooked by Wall Street analysts, the stocks of small companies can be attractive opportunities.
- Active value strategyThe strategy seeks undervalued companies with improving fundamentals or catalysts that may unlock potential.
- Rigorous researchThe portfolio manager and a team of senior research analysts combine 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 |
$14.71
2.87% | $0.41 |
$14.71
03/05/21 |
$5.96
03/18/20 |
Fund facts as of 02/28/21
$209.55M
108%
Annually
110
February
746802289 / 1853
01/03/01
Value
PYSVX
Literature
Fund documents |
| Prospectuses/SAI |
| Fund Profile (PDF) |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (YA share) (PDF) |
| Annual Report (PDF) |
| Semiannual Report (PDF) |
| Equity Outlook (PDF) |
| Proxy voting results (Form N-PX) (PDF) |
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 | 3.79% | 1.22% | 7.31% | 8.18% |
| After sales charge | N/A | N/A | N/A | N/A |
| Russell 2000 Value Index | 4.63% | 3.72% | 9.65% | 8.66% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 02/28/21 | 13.29% | - | |
| YTD as of 03/04/21 | 17.89% | - | |
Risk-adjusted performance as of 01/31/21
| Alpha (3 yrs.) | -3.63 |
|---|---|
| Sharpe ratio (3 yrs.) | 0.01 |
| Treynor ratio (3 yrs.) | 0.38 |
| Information ratio (3 yrs.) | -0.53 |
Volatility as of 01/31/21
| Standard deviation (3 yrs.) | 29.79% |
|---|---|
| Beta | 1.12 |
| R-squared | 0.97 |
Capture ratio as of 01/31/21
| Up-market (3 yrs.) | 101.77 |
|---|---|
| Down-market (3 yrs.) | 111.02 |
Lipper rankings as of 01/31/21
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 119/219 | 55% |
| 3 yrs. | 119/200 | 60% |
| 5 yrs. | 108/183 | 59% |
| 10 yrs. | 48/130 | 37% |
Morningstar Ratings™ as of 01/31/21
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 390 | |
| 3 yrs. | 390 | |
| 5 yrs. | 362 | |
| 10 yrs. | 259 |
Distributions
| Record/Ex dividend date | 12/04/20 |
|---|---|
| Payable date | 12/08/20 |
| Income | $0.124 |
| 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
| Unifi | 2.12% |
|---|---|
| Vista Outdoor | 2.07% |
| Nesco Holdings | 1.72% |
| Ibex Holdings | 1.66% |
| Investors Bancorp | 1.47% |
| Major Drilling | 1.39% |
| Tronox Holdings | 1.36% |
| Newpark Resources | 1.35% |
| Connectone Bancorp | 1.28% |
| Cadence Bancorp | 1.25% |
| Top 10 holdings, percent of portfolio | 15.67% |
| Top 10 holdings as of 01/31/21 | |
|---|---|
| Unifi | |
| Vista Outdoor | |
| Nesco Holdings | |
| Ibex Holdings | |
| Investors Bancorp | |
| Major Drilling | |
| Tronox Holdings | |
| Newpark Resources | |
| Connectone Bancorp | |
| Cadence Bancorp | |
| Holdings represent 15.67% of portfolio | |
| Top 10 holdings as of 12/31/20 | |
|---|---|
| Nesco Holdings | |
| Ibex Holdings | |
| Vista Outdoor | |
| Major Drilling | |
| Unifi | |
| Tronox Holdings | |
| Investors Bancorp | |
| Oriental Finl Group Com | |
| Unisys Corp | |
| Allegiant Travel | |
| Holdings represent 15.32% of portfolio | |
| Top 10 holdings as of 11/30/20 | |
|---|---|
| Ibex Holdings | |
| Vista Outdoor | |
| Investors Bancorp | |
| Ribbon Communications | |
| Oriental Finl Group Com | |
| Major Drilling | |
| Tronox Holdings | |
| Allegiant Travel | |
| Unifi | |
| Connectone Bancorp | |
| Holdings represent 14.31% of portfolio | |
| Top 10 holdings as of 10/31/20 | |
|---|---|
| Vista Outdoor | |
| Ibex | |
| Major Drilling | |
| Oriental Finl Group Com | |
| Wabash National Corp | |
| Purple Innovation | |
| Unisys Corp | |
| Everi Holdings | |
| Investors Bancorp | |
| Walker Dunlop | |
| Holdings represent 14.31% of portfolio | |
| IBEX LTD SEDOL BLF81K2 | 1.75% |
|---|---|
| VISTA OUTDOOR INC SEDOL BVGC697 | 1.75% |
| MAJOR DRILLING GROUP INTL SEDOL 2557515 | 1.59% |
| UNIFI INC SEDOL 2911865 | 1.54% |
| TRONOX HOLDINGS PLC- A SEDOL BJT16S6 | 1.42% |
| INVESTORS BANCORP INC SEDOL BMHT4M3 | 1.40% |
| OFG BANCORP SEDOL B87LKR8 | 1.38% |
| UNISYS CORP SEDOL 2931595 | 1.33% |
| ALLEGIANT TRAVEL CO SEDOL B15M2C3 | 1.30% |
| ORBCOMM INC SEDOL B19FR01 | 1.28% |
| CONNECTONE BANCORP INC SEDOL BNQ4YF9 | 1.24% |
| CADENCE BANCORP SEDOL BYWVH74 | 1.23% |
| AMERIS BANCORP SEDOL 2038849 | 1.20% |
| EVERI HOLDINGS INC SEDOL BYV34V4 | 1.20% |
| QCR HOLDINGS INC. | 1.16% |
| NEWPARK RESOURCES INC SEDOL 2636878 | 1.16% |
| VECTRUS INC SEDOL BQS2V17 | 1.11% |
| RADNET INC SEDOL B1JNG19 | 1.10% |
| LIONS GATE ENTERTAINMENT-A SEDOL BD8NBC0 | 1.09% |
| PURPLE INNOVATION INC SEDOL BYWFGP7 | 1.08% |
| BROOKDALE SENIOR LIVING INC SEDOL B0PZN33 | 1.07% |
| PREMIER FINANCIAL CORP SEDOL BLFBX72 | 1.06% |
| RIBBON COMMUNICATIONS INC SEDOL BD2BLX1 | 1.06% |
| LAKELAND BANCORP INC SEDOL 2620031 | 1.06% |
| OTTER TAIL CORP SEDOL 2664103 | 1.06% |
| HILLENBRAND INC SEDOL B2QGDP1 | 1.06% |
| CITI TRENDS INC SEDOL B06FLD8 | 1.04% |
| UNITIL CORP SEDOL 2925037 | 1.04% |
| SPIRIT REALTY CAPITAL INC SEDOL BHHZBZ8 | 1.04% |
| CRANE CO SEDOL 2231897 | 1.03% |
| ACADIA HEALTHCARE CO INC SEDOL B65VZ37 | 1.02% |
| VERSO CORP - A SEDOL BYN9TR1 | 1.02% |
| FIRST HORIZON NATIONAL CORP | 1.02% |
| WABASH NATIONAL CORP SEDOL 2932048 | 1.01% |
| ARCH RESOURCES INC SEDOL BLB8B95 | 1.00% |
| BARINGS BDC INC SEDOL BFZ4N57 | 1.00% |
| IMAX CORP SEDOL 2473859 | 1.00% |
| WILLSCOT MOBILE MINI HOLDING SEDOL BMHL0Z4 | 0.98% |
| UNIVERSAL TECHNICAL INSTITUT SEDOL 2002543 | 0.98% |
| ADVANSIX INC SEDOL BYMMZL7 | 0.97% |
| WALKER & DUNLOP INC SEDOL B4TZV44 | 0.96% |
| NESCO HOLDINGS INC SEDOL BHTGB71 | 0.95% |
| ACCO BRANDS CORP SEDOL B0G7SZ5 | 0.95% |
| UNIVERSAL ELECTRONICS INC SEDOL 2911683 | 0.94% |
| MAGNOLIA OIL & GAS CORP - A SEDOL BF2GC59 | 0.94% |
| ZUMIEZ INC SEDOL B081QB7 | 0.94% |
| EASTERN BANKSHARES INC SEDOL BMXL9H3 | 0.94% |
| STIFEL FINANCIAL CORP SEDOL 2849234 | 0.93% |
| MYR GROUP INC/DELAWARE SEDOL B3CLS18 | 0.92% |
| COLUMBUS MCKINNON CORP/NY SEDOL 2211071 | 0.91% |
| KOPPERS HOLDINGS INC SEDOL B0X46B1 | 0.91% |
| MAYVILLE ENGINEERING CO INC SEDOL BJLD0Y4 | 0.90% |
| MGIC INVESTMENT CORP SEDOL 2548616 | 0.90% |
| ARGO GROUP INTERNATIONAL SEDOL 2499543 | 0.89% |
| FIRST BANCSHARES INC/MS SEDOL 2184300 | 0.89% |
| DOMTAR CORP SEDOL B1T84Z4 | 0.89% |
| NVENT ELECTRIC PLC SEDOL BDVJJQ5 | 0.89% |
| NESCO HOLDINGS INC | 0.88% |
| RADIANT LOGISTICS INC SEDOL B065G33 | 0.88% |
| RLJ LODGING TRUST SEDOL B3PY1N7 | 0.88% |
| XENIA HOTELS & RESORTS INC SEDOL BVV6CY1 | 0.88% |
| LANTHEUS HOLDINGS INC SEDOL BP8S8J5 | 0.88% |
| BERRY GLOBAL GROUP INC SEDOL B8BR3H3 | 0.87% |
| INDEPENDENT BANK CORP - MICH SEDOL 2492133 | 0.87% |
| DIVERSIFIED HEALTHCARE TRUST SEDOL BKRN595 | 0.87% |
| GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 0.86% |
| ELEMENT SOLUTIONS INC SEDOL BJ1C2K1 | 0.86% |
| SARATOGA INVESTMENT CORP SEDOL B1VPWH1 | 0.86% |
| UNIVEST FINANCIAL CORP SEDOL 2690636 | 0.86% |
| XPERI HOLDING CORP SEDOL BMWP0C8 | 0.85% |
| COOPER TIRE & RUBBER SEDOL 2222608 | 0.85% |
| FLAGSTAR BANCORP INC SEDOL B7SVZ97 | 0.85% |
| SHOE CARNIVAL INC SEDOL 2805474 | 0.84% |
| STORE CAPITAL CORP SEDOL BSKRKJ5 | 0.83% |
| BERKSHIRE HILLS BANCORP INC SEDOL 2606570 | 0.82% |
| ALPINE INCOME PROPERTY TRUST SEDOL BKMQX40 | 0.82% |
| QUANEX BUILDING PRODUCTS SEDOL B2QXCJ9 | 0.81% |
| CLEAN HARBORS INC SEDOL 2202473 | 0.80% |
| INSTEEL INDUSTRIES INC SEDOL 2325875 | 0.80% |
| JABIL INC SEDOL 2471789 | 0.80% |
| TECNOGLASS INC SEDOL BHCVTN5 | 0.78% |
| SOUTHERN FIRST BANCSHARES SEDOL 2508030 | 0.77% |
| STERLING CONSTRUCTION CO | 0.77% |
| HERITAGE INSURANCE HOLDINGS SEDOL BMN9870 | 0.77% |
| LADDER CAPITAL CORP-REIT SEDOL BJ367P1 | 0.76% |
| CARTERS INC | 0.76% |
| PLYMOUTH INDUSTRIAL REIT INC SEDOL BF43645 | 0.73% |
| PROFESSIONAL HOLDING CORP-A SEDOL BWTNW74 | 0.73% |
| OLYMPIC STEEL INC SEDOL 2659013 | 0.72% |
| BRINKER INTERNATIONAL INC SEDOL 2193544 | 0.71% |
| SILGAN HOLDINGS INC SEDOL 2809324 | 0.69% |
| CECO ENVIRONMENTAL CORP SEDOL 2011970 | 0.68% |
| DARDEN RESTAURANTS INC SEDOL 2289874 | 0.68% |
| CEDAR FAIR LP SEDOL 2181453 | 0.67% |
| INGLES MARKETS INC-CLASS A SEDOL 2460550 | 0.65% |
| CHESAPEAKE UTILITIES CORP SEDOL 2190750 | 0.65% |
| UNIVERSAL LOGISTICS HOLDINGS SEDOL B066PX9 | 0.64% |
| ANDERSONS INC/THE SEDOL 2274922 | 0.63% |
| EMERALD HOLDING INC SEDOL BKT61V6 | 0.62% |
| RANGE RESOURCES CORP SEDOL 2523334 | 0.60% |
| BAYCOM CORP SEDOL BYSTY59 | 0.57% |
| SCORPIO TANKERS INC SEDOL BHXD297 | 0.57% |
| LIMELIGHT NETWORKS INC SEDOL B1YB674 | 0.56% |
| CONCENTRIX CORP SEDOL BNKVVY4 | 0.44% |
| MYERS INDUSTRIES INC SEDOL 2613086 | 0.37% |
| CRESCENT CAPITAL BDC INC SEDOL BKKFCK8 | 0.34% |
| CROSSFIRST BANKSHARES INC SEDOL BK0XBX8 | 0.34% |
| COASTAL FINANCIAL CORP/WA SEDOL BF7J9X0 | 0.29% |
| NESCO HOLDINGS-CW25 SEDOL BJ01GS5 | 0.03% |
| BANCTEC INC-144A CONTINGENT VALUE RIGHTS | 0.00% |
| FERROGLOBE REPRESENTATION & | 0.00% |
| VISTA OUTDOOR INC SEDOL BVGC697 | 1.83% |
|---|---|
| MAJOR DRILLING GROUP INTL SEDOL 2557515 | 1.81% |
| IBEX LTD SEDOL BLF81K2 | 1.79% |
| EVERI HOLDINGS INC SEDOL BYV34V4 | 1.45% |
| QUANEX BUILDING PRODUCTS SEDOL B2QXCJ9 | 1.37% |
| PURPLE INNOVATION INC SEDOL BYWFGP7 | 1.30% |
| BARINGS BDC INC SEDOL BFZ4N57 | 1.27% |
| STORE CAPITAL CORP SEDOL BSKRKJ5 | 1.23% |
| ARCH RESOURCES INC SEDOL BLB8B95 | 1.22% |
| ZUMIEZ INC SEDOL B081QB7 | 1.22% |
| SYNNEX CORP SEDOL 2002554 | 1.21% |
| SPIRIT REALTY CAPITAL INC SEDOL BHHZBZ8 | 1.20% |
| OFG BANCORP SEDOL B87LKR8 | 1.18% |
| LIONS GATE ENTERTAINMENT-A SEDOL BD8NBC0 | 1.17% |
| WALKER & DUNLOP INC SEDOL B4TZV44 | 1.17% |
| FLAGSTAR BANCORP INC SEDOL B7SVZ97 | 1.17% |
| WABASH NATIONAL CORP SEDOL 2932048 | 1.16% |
| MAGELLAN HEALTH INC SEDOL 2307787 | 1.16% |
| VECTRUS INC SEDOL BQS2V17 | 1.12% |
| GRIFFON CORP SEDOL 2463344 | 1.12% |
| UNITIL CORP SEDOL 2925037 | 1.10% |
| LAKELAND BANCORP INC SEDOL 2620031 | 1.10% |
| QCR HOLDINGS INC. | 1.09% |
| GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 1.09% |
| AVAYA HOLDINGS CORP SEDOL BD9G9B3 | 1.09% |
| LADDER CAPITAL CORP-REIT SEDOL BJ367P1 | 1.08% |
| CONNECTONE BANCORP INC SEDOL BNQ4YF9 | 1.07% |
| BUILDERS FIRSTSOURCE INC SEDOL B0BV2M7 | 1.05% |
| DARDEN RESTAURANTS INC SEDOL 2289874 | 1.05% |
| ALPINE INCOME PROPERTY TRUST SEDOL BKMQX40 | 1.04% |
| INVESTORS BANCORP INC SEDOL BMHT4M3 | 1.04% |
| PNM RESOURCES INC SEDOL 2707826 | 1.00% |
| PHOTRONICS INC SEDOL 2687315 | 0.99% |
| CECO ENVIRONMENTAL CORP SEDOL 2011970 | 0.99% |
| FIRST HORIZON NATIONAL CORP | 0.99% |
| ALLEGIANT TRAVEL CO SEDOL B15M2C3 | 0.98% |
| BERRY GLOBAL GROUP INC SEDOL B8BR3H3 | 0.98% |
| RIBBON COMMUNICATIONS INC SEDOL BD2BLX1 | 0.98% |
| UNISYS CORP SEDOL 2931595 | 0.97% |
| COOPER TIRE & RUBBER SEDOL 2222608 | 0.96% |
| SHOE CARNIVAL INC SEDOL 2805474 | 0.95% |
| MAXAR TECHNOLOGIES INC SEDOL BF2KYF5 | 0.94% |
| KAR AUCTION SERVICES INC SEDOL B4Y1MH7 | 0.94% |
| MYR GROUP INC/DELAWARE SEDOL B3CLS18 | 0.93% |
| WILLSCOT MOBILE MINI HOLDING SEDOL BMHL0Z4 | 0.93% |
| ARGO GROUP INTERNATIONAL SEDOL 2499543 | 0.92% |
| IMAX CORP SEDOL 2473859 | 0.91% |
| SARATOGA INVESTMENT CORP SEDOL B1VPWH1 | 0.91% |
| CRANE CO SEDOL 2231897 | 0.90% |
| NESCO HOLDINGS INC SEDOL BHTGB71 | 0.90% |
| BRINKER INTERNATIONAL INC SEDOL 2193544 | 0.89% |
| NVENT ELECTRIC PLC SEDOL BDVJJQ5 | 0.89% |
| LIMELIGHT NETWORKS INC SEDOL B1YB674 | 0.88% |
| TCF FINANCIAL CORP SEDOL BK5FNZ5 | 0.88% |
| MGIC INVESTMENT CORP SEDOL 2548616 | 0.88% |
| UNIFIRST CORP/MA SEDOL 2466428 | 0.88% |
| ADVANSIX INC SEDOL BYMMZL7 | 0.88% |
| STERLING CONSTRUCTION CO | 0.88% |
| INGLES MARKETS INC-CLASS A SEDOL 2460550 | 0.87% |
| ELEMENT SOLUTIONS INC SEDOL BJ1C2K1 | 0.86% |
| ACCO BRANDS CORP SEDOL B0G7SZ5 | 0.86% |
| PLYMOUTH INDUSTRIAL REIT INC SEDOL BF43645 | 0.86% |
| HERITAGE INSURANCE HOLDINGS SEDOL BMN9870 | 0.85% |
| BROOKDALE SENIOR LIVING INC SEDOL B0PZN33 | 0.85% |
| UNIVERSAL ELECTRONICS INC SEDOL 2911683 | 0.84% |
| CORE-MARK HOLDING CO INC SEDOL B0637B2 | 0.83% |
| PROFESSIONAL HOLDING CORP-A SEDOL BWTNW74 | 0.83% |
| SILGAN HOLDINGS INC SEDOL 2809324 | 0.83% |
| PREMIER FINANCIAL CORP SEDOL BLFBX72 | 0.83% |
| DIVERSIFIED HEALTHCARE TRUST SEDOL BKRN595 | 0.81% |
| TRIPLEPOINT VENTURE GROWTH B SEDOL BK8G322 | 0.80% |
| KOPPERS HOLDINGS INC SEDOL B0X46B1 | 0.80% |
| ACADIA HEALTHCARE CO INC SEDOL B65VZ37 | 0.80% |
| CLEVELAND-CLIFFS INC SEDOL BYVZ186 | 0.80% |
| TECNOGLASS INC SEDOL BHCVTN5 | 0.79% |
| MAGNOLIA OIL & GAS CORP - A SEDOL BF2GC59 | 0.79% |
| UNIVEST FINANCIAL CORP SEDOL 2690636 | 0.79% |
| RANGE RESOURCES CORP SEDOL 2523334 | 0.78% |
| MURPHY USA INC SEDOL BCZWJ63 | 0.78% |
| PARSONS CORP SEDOL BJN4N02 | 0.78% |
| LANTHEUS HOLDINGS INC SEDOL BP8S8J5 | 0.77% |
| CHESAPEAKE UTILITIES CORP SEDOL 2190750 | 0.76% |
| BIG LOTS INC SEDOL 2218447 | 0.75% |
| SCORPIO TANKERS INC SEDOL BHXD297 | 0.74% |
| JABIL INC SEDOL 2471789 | 0.74% |
| QTS REALTY TRUST INC-CL A SEDOL BDSV8H8 | 0.73% |
| NEWPARK RESOURCES INC SEDOL 2636878 | 0.72% |
| KKR REAL ESTATE FINANCE TRUS SEDOL BF0YMC2 | 0.72% |
| INDEPENDENT BANK CORP - MICH SEDOL 2492133 | 0.72% |
| UNIVERSAL TECHNICAL INSTITUT SEDOL 2002543 | 0.72% |
| UNIVERSAL LOGISTICS HOLDINGS SEDOL B066PX9 | 0.71% |
| RADIANT LOGISTICS INC SEDOL B065G33 | 0.69% |
| AMERIS BANCORP SEDOL 2038849 | 0.65% |
| SOUTHERN FIRST BANCSHARES SEDOL 2508030 | 0.65% |
| CONSOLIDATED WATER CO-ORD SH SEDOL 2099095 | 0.64% |
| OCEANFIRST FINANCIAL CORP SEDOL 2125901 | 0.61% |
| FIRST BANCSHARES INC/MS SEDOL 2184300 | 0.61% |
| OLYMPIC STEEL INC SEDOL 2659013 | 0.58% |
| BAYCOM CORP SEDOL BYSTY59 | 0.51% |
| CITI TRENDS INC SEDOL B06FLD8 | 0.50% |
| CARTERS INC | 0.49% |
| MAYVILLE ENGINEERING CO INC SEDOL BJLD0Y4 | 0.44% |
| PALOMAR HOLDINGS INC SEDOL BJYLZK6 | 0.44% |
| INSTEEL INDUSTRIES INC SEDOL 2325875 | 0.41% |
| TRICO BANCSHARES SEDOL 2904133 | 0.40% |
| CRESCENT CAPITAL BDC INC SEDOL BKKFCK8 | 0.40% |
| OTTER TAIL CORP SEDOL 2664103 | 0.34% |
| EMERALD HOLDING INC SEDOL BKT61V6 | 0.34% |
| TURNING POINT BRANDS INC SEDOL BYQ7X92 | 0.32% |
| VERSO CORP - A SEDOL BYN9TR1 | 0.31% |
| COASTAL FINANCIAL CORP/WA SEDOL BF7J9X0 | 0.26% |
| STATE AUTO FINANCIAL CORP SEDOL 2841898 | 0.05% |
| UNIFI INC SEDOL 2911865 | 0.02% |
| NESCO HOLDINGS-CW25 SEDOL BJ01GS5 | 0.01% |
| BANCTEC INC-144A CONTINGENT VALUE RIGHTS | 0.00% |
| FERROGLOBE REPRESENTATION & | 0.00% |
Portfolio composition as of 01/31/21
| Common stock | 99.23% |
|---|---|
| Cash and net other assets | 0.77% |
Equity statistics as of 01/31/21
| Median market cap | $0.91B |
|---|---|
| Weighted average market cap | $1.63B |
| Price to book | 1.40 |
| Price to earnings | 17.21 |
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. 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 01/31/21
| Financials | 27.69% |
|---|---|
| Industrials | 17.22% |
| Consumer discretionary | 14.44% |
| Materials | 10.86% |
| Information technology | 7.59% |
| Real estate | 5.31% |
| Energy | 4.76% |
| Health care | 4.03% |
| Communication services | 3.30% |
| Other | 4.80% |
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 | 1.56% | 2.31% | 2.31% | 1.81% | 1.23% | 1.13% | 1.31% |
| What you pay | 1.56% | 2.31% | 2.31% | 1.81% | 1.23% | 1.13% | 1.31% |
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. 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.