The muni bond advantage
Municipal bonds offer an attractive opportunity for tax-smart investing. This interactive tool can help you compare munis with Treasurys from various states and across income levels. Try the tool and explore Putnam municipal bond funds.
Data as of 12/31/23. Sources: U.S. Treasury, Barclays Municipal Credit Research, Standard & Poor's, The Tax Foundation, and U.S. Census (estimated data). State municipal bond yields represented the yield to worst of the Barclays Municipal Bond Index from that state. Muni yield figures do not reflect the potential effects of the alternative minimum tax. Credit ratings are by Standard & Poor's, and are subject to change. While all bonds have risks, municipal bonds may have a higher level of credit risk as compared with government bonds and CDs. Yields shown are not indicative of the performance of any particular investment, and it is not possible to invest directly in an index. Past performance is not indicative of future results.
Explore Putnam's 4- and 5-star rated municipal bond funds
Strategic Intermediate Municipal Fund (PAMYX)
This fund received a Overall Morningstar Rating™ out of 261 funds in the Muni National Interm category based on total return as of 03/31/24
California Tax Exempt Income Fund (PCIYX)
This fund received a Overall Morningstar Rating™ out of 102 funds in the Muni California Long category based on total return as of 03/31/24
Massachusetts Tax Exempt Income Fund (PMAYX)
This fund received a Overall Morningstar Rating™ out of 42 funds in the Muni Massachusetts category based on total return as of 03/31/24
Minnesota Tax Exempt Income Fund (PMNYX)
This fund received a Overall Morningstar Rating™ out of 44 funds in the Muni Minnesota category based on total return as of 03/31/24
New Jersey Tax Exempt Income Fund (PNJYX)
This fund received a Overall Morningstar Rating™ out of 47 funds in the Muni New Jersey category based on total return as of 03/31/24
New York Tax Exempt Income Fund (PNYYX)
This fund received a Overall Morningstar Rating™ out of 81 funds in the Muni New York Long category based on total return as of 03/31/24
Ohio Tax Exempt Income Fund (POTYX)
This fund received a Overall Morningstar Rating™ out of 24 funds in the Muni Ohio category based on total return as of 03/31/24
Short-Term Municipal Income Fund (PSMYX)
This fund received a Overall Morningstar Rating™ out of 209 funds in the Muni National Short category based on total return as of 03/31/24
Intermediate-Term Municipal Income Fund (PIMYX)
This fund received a Overall Morningstar Rating™ out of 261 funds in the Muni National Interm category based on total return as of 03/31/24
Pennsylvania Tax Exempt Income Fund (PPTYX)
This fund received a Overall Morningstar Rating™ out of 50 funds in the Muni Pennsylvania category based on total return as of 03/31/24
Tax Exempt Income Fund (PTEYX)
This fund received a Overall Morningstar Rating™ out of 162 funds in the Muni National Long category based on total return as of 03/31/24
Tax-Free High Yield Fund (PTFYX)
This fund received a Overall Morningstar Rating™ out of 185 funds in the High Yield Muni category based on total return as of 03/31/24
Insights and outlook on taxes
Putnam offers timely insights on the evolution of the municipal bond market and our outlook for taxes over the coming years.
