Mutual Funds

Always active in pursuing the best performance for investors

Putnam is recognized with a top-10 ranking for 10-year performance, for the fourth consecutive year.

In the three previous annual Barron's studies, Putnam ranked in the top 10 for 10-year performance in 2018 (9th out of 49 families for performance through 12/31/17), in the 2019 study (6th out of 40 families for performance through 12/31/18), and in the 2020 study (8th out of 50 families for performance through 12/31/20).

Putnam rankings in The Best Fund Families of 2020

(Barron's, February 2021)

Ten years

#3 out of 44

Five years

#14 out of 50

One year

#22 out of 53

Source: Barron's, "The Best Fund Families of 2020," February 22, 2021. Putnam ranked in the top 10 for 10-year performance with complete rankings as follows: 22 out of 53, 14 out of 50, and 3 out of 44 fund families for the 1-, 5-, and 10-year periods ending December 31, 2020, respectively. Barron's rankings are based on asset-weighted net-of-management-fee returns in five categories - U.S. equity funds; world equity funds (including international and global portfolios); mixed equity funds (which invest in stocks, bonds, and other securities); taxable bond funds; and tax-exempt funds - as calculated by Refinitiv Lipper. Barron’s does not include sales charges in calculating returns. Each fund's return is measured against those of all funds in its Refinitiv Lipper category, resulting in a percentile ranking that is then weighted by asset size, relative to the fund family's other assets in its general classification. To be included in the ranking, a firm must have at least three funds in the general equity category, one in the world equity category, one in the mixed-asset category (such as a balanced or target-date fund), two taxable-bond funds, and one national tax-exempt bond fund. Single-sector and country equity funds are factored into the rankings as general equity. The rankings exclude all passive index funds, including pure index, enhanced index, and index-based, but include actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies.

  • All funds
  •  Advisor fund comparison tool
Asset class
Annualized returns (before sales charge) between % and %
Time period
Morningstar Ratings  (overall): (and above)

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, and Putnam Fixed Income Absolute Return 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.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3–, 5–, and 10–year (if applicable) Morningstar Rating metrics. Data is historical. Past performance is no guarantee of future results.

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. Rankings for other periods can be found on the Facts & Rankings tab.

Reflects large one-time start-up costs relative to assets.