ETFs  |  Exchange-traded funds

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Putnam active ETFs Ticker Category NAV Expense ratio
Putnam BDC Income ETF  PBDC Value 34.49 6.79%
Learn about BDC expenses
Putnam BioRevolutionTM ETF  SYNB Blend 31.49 0.70%
Putnam ESG Core Bond ETF  PCRB Taxable Income 48.20 0.35%
Putnam ESG High Yield ETF  PHYD Taxable Income 50.70 0.55%
Putnam ESG Ultra Short ETF  PULT Taxable Income 50.32 0.25%
Putnam Emerging Markets ex-China ETF  PEMX Blend 52.08 0.85%
Putnam Focused Large Cap Growth ETF*  PGRO Growth 35.08 0.56%
Putnam Focused Large Cap Value ETF*  PVAL Value 36.12 0.56%
Putnam PanAgora ESG Emerging Markets Equity ETF  PPEM Blend 21.00 0.61%
Putnam PanAgora ESG International Equity ETF  PPIE Blend 23.59 0.49%
Putnam Sustainable Future ETF*  PFUT Growth 24.76 0.64%
Putnam Sustainable Leaders ETF*  PLDR Growth 32.41 0.59%

* The following disclosure applies to Putnam Sustainable Leaders ETF, Putnam Sustainable Future ETF, Putnam Focused Large Cap Value ETF, and Putnam Focused Large Cap Growth ETF:

These ETFs are different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:

You may have to pay more money to trade the ETF's shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.

The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared with other ETFs because it provides less information to traders.

These additional risks may be even greater in bad or uncertain market conditions.

The ETF will publish on its website each day a "Tracking Basket" designed to help trading in shares of the ETF. While the Tracking Basket includes some of the ETF's holdings, it is not the ETF's actual portfolio.

The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF's performance. If other traders are able to copy or predict the ETF's investment strategy, however, this may hurt the ETF's performance.

For additional information regarding the unique attributes and risks of the ETF, see the disclosure below and the Principal Investment Risks section of the prospectus.

Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

The funds have limited public-trading history and will operate differently from other actively managed ETFs that publish their portfolio holdings on a daily basis.

Diversification does not guarantee a profit or ensure against loss. It is possible to lose money in a diversified portfolio.

Frequently asked questions  |  Active ETFs

What are BDCs?

A BDC is a business development company. BDCs provide financing to small and midsize private companies. As an investment, a BDC is a registered investment company that can offer private market exposure to a broad range of investors. Public BDCs are equity securities that are typically listed on exchange markets. BDCs distribute most of their net investment income to investors.

Historically, BDCs have offered attractive yields and low correlation to other equity asset classes.

PBDC (Putnam BDC Income ETF) invests in BDCs, offering attractive income to public investors through private market exposure.

Learn more about BDCs.

What is the biorevolution?

The biorevolution — short for biology revolution — is a set of related technological advances in the biological and life sciences that is beginning to transform the economy through widespread innovation. Advances in biomanufacturing create potential to engineer and produce new biology-sourced products, ingredients, and materials. As businesses harness innovation, we anticipate wide-ranging impact across industry sectors. We believe the revolution will create new markets, drive demand, and help solve sustainability challenges, resulting in compelling opportunities for investors.

SYNB (Putnam BioRevolution ETF) invests in companies that are leveraging innovation within biology.

Learn more about the biorevolution.

What does ESG mean?

ESG stands for the phrase environmental, social, and governance, which are categories of analysis that may be relevant to the investment performance of securities.

Funds can give consideration to ESG criteria in selecting securities and building their portfolios.

Environmental criteria include, for example, a company’s or issuer’s carbon intensity and use of resources like water or minerals. ESG measures in this area might include plans to reduce waste, increase recycling, raise the proportion of energy supply from renewable sources, or improve product design to be less resource intensive.

Social criteria include, for example, labor practices and supply chain management. ESG measures in this area might include programs to improve employee well-being, commitment to workplace equality and diversity, or improved stewardship of supplier relationships and working conditions.

Corporate governance criteria include, for example, board composition and executive compensation, as well as bondholders’ rights. ESG measures in this area might include improvements in board independence or diversity, or alignment of management incentives with the company’s or issuer’s strategic ESG objectives.

How do you buy an ETF?

Putnam ETFs can be purchased and sold the same way you would buy or sell a stock — through most self-directed brokers or with the guidance of your advisor. Opening an online, self-directed brokerage account provides investors with:

  • Accessibility to a variety of investment products
  • Tools to help you build and optimize your portfolio
  • Flexibility and freedom of managing your investment portfolio

See our step-by-step guide on how to buy an ETF.