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
International Capital Opportunities Fund (Class C) (PUVCX)
Harnessing the potential of international small and midsize companies since 1995
Highlights
Objective
The fund seeks long-term capital appreciation.
Strategy and process
- Undiscovered stocks: The fund invests in small to midsize companies located outside the United States, which are frequently overlooked by Wall Street.
- A flexible strategy: The fund managers take a core investment focus that seeks to minimize exposure to single factors, such as value or quality.
- A disciplined process: The portfolio managers use a disciplined bottom-up fundamental investment process that seeks stocks with the potential for price and earnings momentum.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
---|---|---|---|
Net asset value |
$38.80
1.23% | $0.47 |
$38.80
12/13/19 |
$30.43
12/24/18 |
Fund facts as of 11/30/19
$368.84M
42%
Annually
63
August
746802537 / 0450
07/26/99
Blend
PUVCX
Literature
Fund documents |
Prospectuses/SAI |
Fact Sheet (R6 share) (PDF) |
Fact Sheet (Y share) (PDF) |
Annual Fund Report (PDF) |
Semiannual Fund Report (PDF) |
Performance
Consistency of positive performance over five years
Performance shown above does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.
27.81%
Best 5-year annualized return
(for period ending 09/30/07)
-6.04%
Worst 5-year annualized return
(for period ending 06/30/12)
6.71%
Average 5-year annualized return
Total return (%) as of 09/30/19
Annual performance as of 09/30/19
Annualized Total return (%) as of 09/30/19
Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
---|---|---|---|---|
Before sales charge | -5.07% | 5.35% | 2.72% | 3.59% |
After sales charge | -5.93% | 5.35% | 2.72% | 3.59% |
S&P Developed Ex-U.S. SmallCap Index | -6.91% | 5.29% | 5.23% | 7.18% |
Performance snapshot
Before sales charge | After sales charge | ||
---|---|---|---|
1 mt. as of 11/30/19 | 1.75% | 0.75% | |
YTD as of 12/13/19 | 22.40% | 21.40% | |
Lipper rankings as of 10/31/19
Time period | Rank/Funds in category | Percentile ranking |
---|---|---|
1 yr. | 10/59 | 17% |
3 yrs. | 8/52 | 16% |
5 yrs. | 26/47 | 55% |
10 yrs. | 28/31 | 88% |
Morningstar Ratings™ as of 10/31/19
Time period | Funds in category | Morningstar Rating™ |
---|---|---|
Overall | 94 | |
3 yrs. | 94 | |
5 yrs. | 69 | |
10 yrs. | 55 |
Distributions
Record/Ex dividend date | 12/21/18 |
---|---|
Payable date | 12/26/18 |
Income | -- |
Extra income | -- |
Short-term cap. gain | -- |
Long-term cap. gain | $3.173 |
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.
Holdings
Euronext | 3.28% |
---|---|
Cogeco Communications | 2.83% |
Eurazeo | 2.77% |
Brickworks | 2.62% |
Compugroup Medical | 2.61% |
Minebea Mitsumi | 2.61% |
Domino'S Pizza Group | 2.55% |
Dart Group | 2.55% |
Nexity | 2.51% |
Constellation Software Canada | 2.41% |
Top 10 holdings, percent of portfolio | 26.74% |
Top 10 holdings as of 10/31/19 | |
---|---|
Euronext | |
Cogeco Communications | |
Eurazeo | |
Brickworks | |
Compugroup Medical | |
Minebea Mitsumi | |
Domino'S Pizza Group | |
Dart Group | |
Nexity | |
Constellation Software Canada | |
Holdings represent 26.74% of portfolio |
Top 10 holdings as of 09/30/19 | |
---|---|
Eurazeo | |
Euronext | |
Cogeco Communications | |
Brickworks | |
Berkeley Group Holdings | |
Compugroup Medical | |
Constellation Software Canada | |
Nexity | |
Paltac Corporation | |
Melco International Development | |
Holdings represent 27.02% of portfolio |
Top 10 holdings as of 08/31/19 | |
---|---|
Euronext | |
Eurazeo | |
Cogeco Communications | |
Constellation Software Canada | |
Berkeley Group Holdings | |
Brickworks | |
Paltac Corporation | |
Nexity | |
Compugroup Medical | |
Minebea Mitsumi | |
Holdings represent 26.44% of portfolio |
Top 10 holdings as of 07/31/19 | |
---|---|
Cogeco Communications | |
Euronext | |
Eurazeo | |
Compugroup Medical | |
Technopro Holdings | |
Minebea Mitsumi | |
Constellation Software Canada | |
Brickworks | |
Berkeley Group Holdings | |
Melco International Development | |
Holdings represent 27.07% of portfolio |
EURAZEO SE SEDOL 7042395 | 3.48% |
---|---|
EURONEXT NV SEDOL BNBNSG0 | 3.46% |
COGECO COMMUNICATIONS INC SEDOL BZCDFX9 | 2.75% |
BRICKWORKS LIMITED SEDOL 6315593 | 2.62% |
BERKELEY GROUP HOLDINGS/THE SEDOL B02L3W3 | 2.57% |
COMPUGROUP MEDICAL SE SEDOL 5094536 | 2.56% |
CONSTELLATION SOFTWARE INC SEDOL B15C4L6 | 2.54% |
NEXITY SEDOL B037JC2 | 2.40% |
PALTAC CORPORATION SEDOL B61BG94 | 2.34% |
MELCO INTERNATIONAL DEVELOP. SEDOL B092QP3 | 2.32% |
MINEBEA CO LTD SEDOL 6642406 | 2.26% |
DOMINO'S PIZZA GROUP PLC SEDOL BYN5913 | 2.24% |
CTS EVENTIM AG & CO KGAA SEDOL 5881857 | 2.19% |
ASHTEAD GROUP PLC SEDOL 0053673 | 2.18% |
OPEN HOUSE CO LTD SEDOL BD3D170 | 2.17% |
DALATA HOTEL GROUP PLC SEDOL BJMZDW8 | 2.16% |
APPLUS SERVICES SA SEDOL BM677T6 | 2.12% |
DART GROUP PLC SEDOL B1722W1 | 2.11% |
DIASORIN SPA SEDOL B234WN9 | 2.05% |
BREEDON GROUP PLC SEDOL B2419D8 | 1.99% |
ADMIRAL GROUP PLC SEDOL B02J639 | 1.98% |
MEGACABLE HOLDINGS-CPO SEDOL B292SM8 | 1.97% |
FAIRFAX FINANCIAL HLDGS LTD SEDOL 2566351 | 1.92% |
TECHNOPRO HOLDINGS INC SEDOL BSM8SQ9 | 1.85% |
SINO-AMERICAN SILICON PRODUC SEDOL 6335278 | 1.83% |
DAIHO CORP SEDOL 6250360 | 1.81% |
RIGHTMOVE PLC SEDOL BGDT3G2 | 1.78% |
KYUDENKO CORP SEDOL 6499969 | 1.69% |
RYANAIR HOLDINGS PLC-SP ADR SEDOL BYYN585 | 1.67% |
LIBERTY LATIN AMERIC-CL C SEDOL BD9Q3Q6 | 1.62% |
AIR CANADA SEDOL BSDHYK1 | 1.58% |
TREND MICRO INC SEDOL 6125286 | 1.58% |
SANWA HOLDINGS CORP SEDOL 6776781 | 1.51% |
CAIRN ENERGY PLC SEDOL B74CDH8 | 1.50% |
CTCI CORP SEDOL 6239187 | 1.49% |
MINERAL RESOURCES LTD SEDOL B17ZL56 | 1.46% |
SCHRODERS PLC SEDOL 0240549 | 1.42% |
ELITE MATERIAL CO LTD SEDOL 6316121 | 1.40% |
SARANA MENARA NUSANTARA PT SEDOL BCDBLX3 | 1.40% |
HOME CAPITAL GROUP INC SEDOL 2434180 | 1.29% |
SOLASTO CORP SEDOL BD97240 | 1.29% |
MOTOR OIL (HELLAS) SA SEDOL 5996234 | 1.28% |
CI FINANCIAL CORP SEDOL B3KT0S5 | 1.11% |
AURELIUS EQUITY OPPORTUNITIE SEDOL B17NLM7 | 1.03% |
UNIVERSAL ENTERTAINMENT CORP SEDOL 6126892 | 1.02% |
CLINIGEN GROUP PLC SEDOL B89J241 | 0.98% |
MODEC INC SEDOL 6622806 | 0.97% |
LIBERTY GLOBAL PLC- C SEDOL B8W67B1 | 0.93% |
DISCOVERY INC-C SEDOL B3D7KG4 | 0.91% |
DAISEKI CO LTD SEDOL 6263164 | 0.77% |
VIEWORKS CO LTD SEDOL B3F2324 | 0.72% |
SEVEN GENERATIONS ENERGY - A SEDOL BRK0MM4 | 0.67% |
BANK OF IRELAND GROUP PLC SEDOL BD1RP61 | 0.60% |
EDELWEISS FINANCIAL SERVICES SEDOL B291KM9 | 0.57% |
LSL PROPERTY SERVICES PLC SEDOL B1G5HX7 | 0.54% |
CHINA TRADITIONAL CHINESE ME SEDOL 6971779 | 0.47% |
FOMENTO DE CONSTRUC Y CONTRA SEDOL 5787115 | 0.46% |
TCI CO LTD SEDOL B6X51B1 | 0.40% |
I-SENS INC SEDOL B94K2F7 | 0.35% |
HELLENIC EXCHANGES - ATHENS SEDOL 4108278 | 0.32% |
MPC CONTAINER SHIPS AS SEDOL BF20GN7 | 0.22% |
TREASURY BILL 00.0000 11/21/2019 | 0.16% |
CLP/USD 10/16/2019 CITI | 0.11% |
TREASURY BILL 00.0000 03/12/2020 | 0.08% |
TREASURY BILL 00.0000 11/14/2019 | 0.06% |
CAD/USD 10/16/2019 GSFX | 0.02% |
CAD/USD 10/16/2019 CITI | 0.02% |
CAD/USD 10/16/2019 BCAP-FX | 0.02% |
ILS/USD 10/16/2019 SSBT | 0.01% |
CAD/USD 10/16/2019 SSBT | 0.01% |
KRW/USD 11/20/2019 JPMCB | 0.01% |
CNH/USD 11/20/2019 HSBCB | 0.01% |
EUR/USD 12/18/2019 GSFX | 0.00% |
JPY/USD 11/20/2019 BCAP-FX | 0.00% |
CAD/USD 10/16/2019 HSBCB | 0.00% |
HKD/USD 11/20/2019 BCAP-FX | 0.00% |
AFREN PLC SEDOL B067275 | 0.00% |
EUR/USD 12/18/2019 CITI | -0.00% |
JPY/USD 11/20/2019 CITI | -0.00% |
JPY/USD 11/20/2019 JPMCB | -0.00% |
NOK/USD 12/18/2019 JPMCB | -0.00% |
GBP/USD 12/18/2019 GSFX | -0.00% |
EUR/USD 12/18/2019 BANKAM | -0.00% |
JPY/USD 11/20/2019 BANKAM | -0.00% |
EUR/USD 12/18/2019 BCAP-FX | -0.01% |
GBP/USD 12/18/2019 BANKAM | -0.01% |
GBP/USD 12/18/2019 BCAP-FX | -0.01% |
JPY/USD 11/20/2019 GSFX | -0.01% |
GBP/USD 12/18/2019 SSBT | -0.01% |
DKK/USD 12/18/2019 CITI | -0.01% |
GBP/USD 12/18/2019 JPMCB | -0.01% |
SGD/USD 11/20/2019 JPMCB | -0.01% |
AUD/USD 10/16/2019 GSFX | -0.02% |
JPY/USD 11/20/2019 SSBT | -0.02% |
NZD/USD 10/16/2019 JPMCB | -0.02% |
SEK/USD 12/18/2019 JPMCB | -0.02% |
AUD/USD 10/16/2019 BCAP-FX | -0.02% |
AUD/USD 10/16/2019 BANKAM | -0.02% |
AUD/USD 10/16/2019 JPMCB | -0.03% |
CHF/USD 12/18/2019 BCAP-FX | -0.04% |
CHF/USD 12/18/2019 JPMCB | -0.05% |
Portfolio composition as of 10/31/19
Common stock | 98.47% |
---|---|
Cash and net other assets | 1.53% |
Equity statistics as of 10/31/19
Median market cap | $2.69B |
---|---|
Weighted average market cap | $4.87B |
Price to book | 2.04 |
Price to earnings | 13.32 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before 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. International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. You can lose money by investing in the fund.
Top industry sectors as of 10/31/19
Industrials | 21.90% |
---|---|
Financials | 15.79% |
Communication services | 14.33% |
Consumer discretionary | 12.68% |
Information technology | 8.74% |
Health care | 8.21% |
Materials | 6.29% |
Real estate | 5.35% |
Energy | 3.98% |
Other | 2.73% |
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.
Country allocation as of 10/31/19
Japan | 21.78% |
---|---|
United Kingdom | 19.48% |
Canada | 10.40% |
France | 8.55% |
Germany | 6.12% |
Taiwan | 5.51% |
Ireland | 4.79% |
Australia | 4.14% |
Spain | 2.36% |
Other | 16.87% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
Total expense ratio | 1.37% | 2.12% | 2.12% | 1.62% | 0.95% | 1.12% |
What you pay | 1.37% | 2.12% | 2.12% | 1.62% | 0.95% | 1.12% |
Sales charge
Investment Breakpoint | Class A | Class B | Class C | Class R | Class R6 | Class Y |
---|---|---|---|---|---|---|
$0-$49,999 | 5.75% | 0.00% | 0.00% | -- | -- | -- |
$50,000-$99,999 | 4.50% | 0.00% | 0.00% | -- | -- | -- |
$100,000-$249,999 | 3.50% | -- | 0.00% | -- | -- | -- |
$250,000-$499,999 | 2.50% | -- | 0.00% | -- | -- | -- |
$500,000-$999,999 | 2.00% | -- | 0.00% | -- | -- | -- |
$1M-$4M | 0.00% | -- | -- | -- | -- | -- |
$4M-$50M | 0.00% | -- | -- | -- | -- | -- |
$50M+ | 0.00% | -- | -- | -- | -- | -- |
CDSC
Class A (sales for $1,000,000+) | Class B | Class C | Class R | 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% | -- | -- | -- |
The S&P Developed Ex-U.S. SmallCap Index is an unmanaged index of small-cap stocks from developed countries, excluding the United States. You cannot invest directly in an index.
Consider these risks before 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. International investing involves currency, economic, and political risks. Emerging-market securities carry illiquidity and volatility risks. Investments in small and/or midsize companies increase the risk of greater price fluctuations. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. You can lose money by investing in the fund.