Continue to site >
Trending ETFs
You have successfully subscribed to Advisor Access. Thank you!
Help us personalize your experience.
Which type of investor describes you best?
Help us personalize your experience.
What is your AUM?
Knowing your investable assets will help us build and prioritize features that will suit your investment needs.

Congratulations on personalizing your experience.

Email is verified. Thank you!

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Putnam Retirement Advantage Plus Maturity Fund

PRMAX | Fund

$17.35

$636 M

3.69%

$0.64

1.49%

Vitals

YTD Return

2.3%

1 yr return

8.3%

3 Yr Avg Return

7.9%

5 Yr Avg Return

3.9%

Net Assets

$636 M

Holdings in Top 10

100.2%

52 WEEK LOW AND HIGH

$17.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.49%

SALES FEES

Front Load 4.00%

Deferred Load N/A

TRADING FEES

Turnover 65.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$500

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Putnam Retirement Advantage Plus Maturity Fund

PRMAX | Fund

$17.35

$636 M

3.69%

$0.64

1.49%

PRMAX - Profile

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 7.9%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.10%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Putnam Retirement Advantage Plus Maturity Fund
  • Fund Family Name
    Putnam
  • Inception Date
    Feb 26, 2007
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Schoen

Fund Description

The fund employs an asset allocation strategy designed for investors who are already in retirement or who plan to retire (or otherwise begin withdrawing the invested funds) in the near future. The fund is designed to provide diversification among different asset classes. The fund invests most of its assets in Putnam Multi-Asset Income Fund, another Putnam mutual fund, which invests mainly in fixed-income investments and, to a lesser extent, in equity securities. The fund invests the rest of its assets in Putnam Short Term Investment Fund, a Putnam mutual fund that invests mainly in short duration, investment-grade money market and other fixed income securities and Clarion Partners Real Estate Income Fund Inc. and Franklin BSP Lending Fund, closed-end interval funds that invest in alternative assets.
The following table presents your fund’s approximate allocations to each asset class (through its investments in underlying funds) as of    February 27, 2026, which are not expected to change over time.
Asset class
Equity*    25.4 %                 
Fixed Income*    66.6 % 
Alternatives*
   
8.0
% 
                
* Equity, fixed income and alternatives allocations are hypothetical estimates based on an assumption that Putnam Multi-Asset Income Fund’s allocation to equity and fixed income investments reflects its strategic allocations, an assumption that Putnam Short Term Investment Fund is equivalent to a fixed income investment, and an assumption that each of Clarion Partners Real Estate Income Fund Inc. and Franklin BSP Lending Fund is equivalent to an alternatives investment. The managers of Putnam Multi-Asset Income Fund may adjust the fund’s allocations among asset classes from time to time consistent with its investment goals, and, consequently, actual allocations will vary.
The fund’s target allocations may differ from the allocations shown in the table. The Investment Manager may change the fund’s target allocations, and the underlying fund(s) in which it invests, at any time, although the Investment Manager expects these changes to be infrequent and generally in response to longer-term structural changes (i.e., in the average retirement age or life expectancy) that lead the fund’s portfolio managers to determine that a change is advisable. It is assumed investors will make gradual withdrawals from the fund. The managers of Putnam Multi-Asset Income Fund will rebalance that fund’s investments towards its target allocations on a quarterly basis. More information about Putnam Multi-Asset Income Fund and Putnam Short Term Investment Fund is included under “What are the funds’ and each underlying fund’s main investment strategies and related risks?”
Information about each underlying fund’s investment strategy
Putnam Multi-Asset Income Fund (“Multi-Asset Income Fund”)
Multi-Asset Income Fund invests mainly in fixed income investments, including U.S. and foreign (including emerging market) government obligations, corporate obligations, and securitized debt instruments of any credit quality, such as mortgage-backed investments. Multi-Asset Income Fund also invests, to a lesser extent, in equity securities (growth or value stocks or both) of U.S. and foreign (including emerging market) companies of any size.
In evaluating equity investments, each fund’s investment manager may consider factors such as a company’s valuation, financial strength, growth potential, competitive position within its industry, projected future earnings, cash flows, and dividends. For fixed income investments, each fund’s investment manager may consider credit, interest rate, and prepayment risks, as well as general market conditions. Each fund’s investment manager may also select other investments that do not fall within these asset classes.
For a further discussion of each fund’s investment strategy, please turn to the section What are the funds’ and each underlying fund’s main investment strategies and related risks? beginning on page 128.
Putnam Short Term Investment Fund (“Short Term Investment Fund”)
Short Term Investment Fund invests in a diversified portfolio of fixed income securities with a focus on short duration, investment-grade money market and other fixed income instruments.
Under normal circumstances, the effective duration of Short Term Investment Fund’s portfolio will generally not exceed one year, which helps limit the fund’s sensitivity to changes in interest rates. Short Term Investment Fund will maintain a dollar-weighted average portfolio maturity of three years or less.
In evaluating investments, Short Term Investment Fund’s investment manager may consider factors such as credit risk, interest rate risk, prepayment risk, and general market conditions when deciding whether to buy or sell securities.
For a further discussion of Short Term Investment Fund’s investment strategy, please turn to the section What are the funds’ and each underlying fund’s main investment strategies and related risks? beginning on page 128.
Franklin BSP Lending Fund (“BSP Lending Fund”)
BSP Lending Fund seeks to generate risk-adjusted returns with consistent current income through private debt investment opportunities in middle market companies in the United States. BSP Lending Fund’s portfolio will consist of privately offered secured debt and unsecured debt across directly originated corporate loans and, to a lesser extent, broadly syndicated corporate loans, collateralized loan obligations and high yield corporate bonds. Under normal circumstances, debt investments will represent at least 80% of BSP Lending Fund’s net assets (plus the amount of any borrowings for investment purposes).
For a further discussion of BSP Lending Fund’s investment strategy, please turn to the section What are the funds’ and each underlying fund’s main investment strategies and related risks? beginning on page 128.
Clarion Partners Real Estate Income Fund Inc. (“Clarion Partners Real Estate Fund”)
Clarion Partners Real Estate Fund intends under normal market conditions to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in a portfolio of private commercial real estate and publicly traded real estate securities. Investments may consist of (i) privately owned commercial real estate, in the form of equity and debt, and (ii) publicly traded real estate debt and equity securities. It is expected that a majority of Clarion Partners Real Estate Fund’s underlying investments in real estate will be located in the United States, although the fund may also make investments internationally. Clarion Partners, LLC (“Clarion Partners”), Clarion Partners Real Estate Fund’s sub-adviser, will seek to select investments across property
types, geographic regions and metropolitan areas in order to generate attractive current income with the potential for long term appreciation and favorable risk-adjusted returns.
For a further discussion of Clarion Partners Real Estate Fund’s investment strategy, please turn to the section What are the funds’ and each underlying fund’s main investment strategies and related risks? beginning on page 128.
Read More

PRMAX - Performance

Return Ranking - Trailing

Period PRMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -0.6% 9.2% 81.88%
1 Yr 8.3% 2.7% 16.8% 84.38%
3 Yr 7.9%* 2.9% 12.0% 61.25%
5 Yr 3.9%* -0.6% 5.9% 44.65%
10 Yr 3.5%* 2.7% 6.8% 96.25%

* Annualized

Return Ranking - Calendar

Period PRMAX Return Category Return Low Category Return High Rank in Category (%)
2025 4.8% -1.6% 13.8% 70.00%
2024 3.0% -5.4% 9.6% 40.63%
2023 5.7% 0.6% 12.8% 49.69%
2022 -10.9% -27.1% -6.2% 7.55%
2021 -2.4% -9.1% 10.3% 69.43%

Total Return Ranking - Trailing

Period PRMAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -0.6% 9.2% 81.88%
1 Yr 8.3% 2.7% 16.8% 84.38%
3 Yr 7.9%* 2.9% 12.0% 61.25%
5 Yr 3.9%* -0.6% 5.9% 44.65%
10 Yr 3.5%* 2.7% 6.8% 96.25%

* Annualized

Total Return Ranking - Calendar

Period PRMAX Return Category Return Low Category Return High Rank in Category (%)
2025 8.0% 3.1% 17.3% 85.63%
2024 6.6% -0.4% 12.0% 50.00%
2023 9.3% 2.9% 15.4% 59.75%
2022 -4.4% -16.5% -4.1% 1.89%
2021 -0.3% -3.8% 10.3% 89.17%

NAV & Total Return History

PRMAX - Holdings

Concentration Analysis

PRMAX Category Low Category High PRMAX % Rank
Net Assets 636 M 1.21 M 36.1 B 37.50%
Number of Holdings 7 2 2439 89.38%
Net Assets in Top 10 638 M 1.97 M 35.2 B 28.75%
Weighting of Top 10 100.25% 3.9% 104.8% 7.89%

Top 10 Holdings

  1. Putnam ESG Core Bond ETF 51.96%
  2. Putnam ESG High Yield ETF 17.08%
  3. Putnam Sustainable Leaders ETF 14.00%
  4. Putnam Sustainable Future ETF 6.82%
  5. Putnam ESG Ultra Short ETF 5.75%
  6. Putnam PanAgora ESG International Equity ETF 4.37%
  7. Putnam Government Money Market Fund, Class G 0.26%

Asset Allocation

Weighting Return Low Return High PRMAX % Rank
Convertible Bonds 		0.69% 0.00% 4.93% 58.75%
Cash 		0.26% 0.00% 53.61% 64.38%
Stocks 		0.00% 0.00% 99.98% 63.75%
Preferred Stocks 		0.00% 0.00% 0.00% 6.88%
Other 		0.00% -0.09% 5.62% 15.63%
Bonds 		0.00% 0.00% 99.13% 43.13%

PRMAX - Expenses

Operational Fees

PRMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.49% 0.05% 4.53% 13.84%
Management Fee 0.46% 0.00% 0.78% 91.22%
12b-1 Fee 0.25% 0.00% 1.00% 10.34%
Administrative Fee N/A 0.01% 0.29% N/A

Sales Fees

PRMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.00% 3.50% 5.75% 76.47%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PRMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 65.00% 0.00% 121.26% 89.55%

PRMAX - Distributions

Dividend Yield Analysis

PRMAX Category Low Category High PRMAX % Rank
Dividend Yield 3.69% 0.00% 9.37% 26.25%

Dividend Distribution Analysis

PRMAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

PRMAX Category Low Category High PRMAX % Rank
Net Income Ratio 1.10% -0.06% 4.48% 81.08%

Capital Gain Distribution Analysis

PRMAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Semi-Annually

Distributions History

View More +

PRMAX - Fund Manager Analysis

Managers

Robert Schoen

Start Date

Tenure

Tenure Rank

Nov 01, 2004

17.59

17.6%

Robert Schoen is Co-Head of the Global Asset Allocation (GAA) group at Putnam Investments. In partnership with other GAA co-heads, he is responsible for the overall strategy and positioning of Putnam's GAA products. Robert’s career in the investment industry began in 1990. He joined Putnam in 1997. Prior to joining Putnam (from 1992 to 1997), Robert was a self-employed Financial Consultant. He was Head of Research at an asset management company from 1990 to 1992. Robert has a BA from Tufts University and an MBA from New York University, Stern School of Business.

James Fetch

Start Date

Tenure

Tenure Rank

Nov 30, 2012

9.5

9.5%

Mr. Fetch is a Co-Head of Global Asset Allocation (GAA). In partnership with the other GAA Co-Heads, he directs the overall strategy and positioning of Putnam’s GAA products. He is responsible for portfolio construction and risk management of GAA portfolios. His work also contributes to Putnam’s Capital Markets Outlook. Mr. Fetch is a portfolio manager of Putnam Dynamic Asset Allocation Funds (Balanced, Conservative, and Growth); Putnam Dynamic Risk Allocation Fund; Putnam Multi-Asset Absolute Return Fund; Putnam Multi-Asset Model Portfolios; Putnam Retirement Advantage Funds; Putnam RetirementReady Funds; Putnam Total Return Fund; and Putnam 529 for America. Mr. Fetch has been in the investment industry since he joined Putnam in 1994. After leaving in 1998 to complete his M.B.A., he rejoined the firm in 2000.

Brett Goldstein

Start Date

Tenure

Tenure Rank

Mar 31, 2019

3.17

3.2%

Co-Chief Investment Officer, Global Asset Allocation. Previously, Portfolio Manager and Analyst.

Adrian Chan

Start Date

Tenure

Tenure Rank

Nov 30, 2021

0.5

0.5%

Mr. Chan is a Portfolio Manager in the Global Asset Allocation group. He joined Putnam in 2003 and first served in the investment industry from 2003 to 2006. After leaving to complete his M.B.A., Mr. Chan rejoined the industry full-time in 2008. Previously at Putnam, Mr. Chan served as an Investment Associate from 2003 to 2006, a Summer Intern in 2007, and an Analyst from 2008 to 2015. Mr. Chan earned an M.B.A. from The Wharton School at the University of Pennsylvania and an A.B. from Harvard University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 17.59 6.52 3.75

Advertisement

×

Wait! Do you know all the important aspects of mutual funds?

×

Free Advisor Access newsletter emailed to you.

Receive free and exclusive email updates for financial advisors about best performers, news, CE accredited webcasts and more.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. The contents of this form are subject to the MutualFunds.com Privacy Policy. You can unsubscribe at any time.