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Name

As of 07/24/2024

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 Ultra Short Duration Income Fund

PSDQX | Fund

$10.12

$9.63 B

4.96%

$0.50

0.36%

Vitals

YTD Return

3.4%

1 yr return

6.1%

3 Yr Avg Return

3.3%

5 Yr Avg Return

2.5%

Net Assets

$9.63 B

Holdings in Top 10

7.5%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.36%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 63.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 07/24/2024

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 Ultra Short Duration Income Fund

PSDQX | Fund

$10.12

$9.63 B

4.96%

$0.50

0.36%

PSDQX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.46%
DIVIDENDS
  • Dividend Yield 5.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Putnam Ultra Short Duration Income Fund
  • Fund Family Name
    Putnam
  • Inception Date
    Oct 17, 2011
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Salm

Fund Description

Investments

We invest in a diversified portfolio of fixed income securities comprised of short duration, investment-grade money market and other fixed income securities. The fund’s investments may include obligations of the U.S. government, its agencies and instrumentalities, which are backed by the full faith and credit of the United States (e.g., U.S. Treasury bonds and Ginnie Mae mortgage-backed bonds) or by only the credit of a federal agency or government-sponsored entity (e.g., Fannie Mae or Freddie Mac mortgage-backed bonds), domestic corporate debt obligations, taxable municipal debt securities, securitized debt instruments (such as mortgage- and asset-backed securities), repurchase agreements, certificates of deposit, bankers acceptances, commercial paper (including asset-backed commercial paper), time deposits, Yankee Eurodollar securities and other money market instruments. We may also invest in U.S. dollar-denominated foreign securities of these types. Under normal circumstances, the effective duration of the fund’s portfolio will generally not

be greater than one year. Effective duration provides a measure of a fund’s interest-rate sensitivity. The longer a fund’s duration, the more sensitive the fund is to shifts in interest rates. Under normal circumstances, the dollar-weighted average portfolio maturity of the fund is not expected to exceed four years.

We may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments. We may also use derivatives, such as futures, options and swap contracts, for both hedging and non-hedging purposes.

Read More

PSDQX - Performance

Return Ranking - Trailing

Period PSDQX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -0.7% 5.0% 43.98%
1 Yr 6.1% 0.6% 9.4% 37.50%
3 Yr 3.3%* -1.7% 6.3% 16.35%
5 Yr 2.5%* -0.9% 4.1% 24.08%
10 Yr 1.9%* -4.4% 27.7% 37.40%

* Annualized

Return Ranking - Calendar

Period PSDQX Return Category Return Low Category Return High Rank in Category (%)
2023 1.0% -2.3% 4.3% 59.26%
2022 -0.8% -6.5% 0.5% 23.92%
2021 -0.3% -2.1% 0.3% 29.56%
2020 0.5% -3.1% 1.8% 32.47%
2019 0.3% -1.2% 6.1% 72.28%

Total Return Ranking - Trailing

Period PSDQX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -0.7% 5.0% 43.98%
1 Yr 6.1% 0.6% 9.4% 37.50%
3 Yr 3.3%* -1.7% 6.3% 16.35%
5 Yr 2.5%* -0.9% 4.1% 24.08%
10 Yr 1.9%* -4.4% 27.7% 37.40%

* Annualized

Total Return Ranking - Calendar

Period PSDQX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% 0.8% 12.1% 20.37%
2022 1.0% -5.1% 2.5% 11.96%
2021 0.1% -2.1% 14.5% 46.31%
2020 1.8% -1.0% 3.6% 42.27%
2019 2.9% 0.3% 9.6% 59.24%

NAV & Total Return History

PSDQX - Holdings

Concentration Analysis

PSDQX Category Low Category High PSDQX % Rank
Net Assets 9.63 B 25.6 K 22.6 B 10.19%
Number of Holdings 450 2 1280 19.91%
Net Assets in Top 10 719 M 23.7 K 17.3 B 24.54%
Weighting of Top 10 7.47% 6.8% 162.3% 97.69%

Top 10 Holdings

  1. DISC. CP 1.02%
  2. DISC. CP 1.02%
  3. DISC. CP 0.83%
  4. DISC. CP 0.75%
  5. VAR.RT. CORP. BONDS 0.73%
  6. VAR.RT. CORP. BONDS 0.66%
  7. VAR.RT. CORP. BONDS 0.66%
  8. CORP CMO 0.61%
  9. ASSET BACKED SECURITY 0.60%
  10. CORP. NOTE 0.60%

Asset Allocation

Weighting Return Low Return High PSDQX % Rank
Bonds 		79.90% 0.00% 119.29% 50.93%
Cash 		19.84% 0.00% 109.88% 19.44%
Convertible Bonds 		10.30% 0.00% 15.25% 8.84%
Other 		0.26% -6.78% 99.94% 69.91%
Stocks 		0.00% 0.00% 95.95% 70.83%
Preferred Stocks 		0.00% 0.00% 1.74% 66.67%

Bond Sector Breakdown

Weighting Return Low Return High PSDQX % Rank
Corporate 		67.18% 0.00% 99.91% 9.77%
Cash & Equivalents 		19.58% 0.00% 109.88% 18.98%
Securitized 		8.77% 0.00% 100.00% 69.77%
Derivative 		0.00% -7.49% 23.95% 58.80%
Municipal 		0.00% 0.00% 70.39% 84.65%
Government 		0.00% 0.00% 100.00% 91.16%

Bond Geographic Breakdown

Weighting Return Low Return High PSDQX % Rank
US 		79.90% 0.00% 119.29% 46.30%
Non US 		0.00% 0.00% 21.27% 71.76%

PSDQX - Expenses

Operational Fees

PSDQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.36% 0.02% 29.63% 68.22%
Management Fee 0.28% 0.00% 1.19% 62.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

PSDQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

PSDQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% 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.

PSDQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 63.00% 0.00% 369.54% 43.41%

PSDQX - Distributions

Dividend Yield Analysis

PSDQX Category Low Category High PSDQX % Rank
Dividend Yield 4.96% 0.00% 8.76% 24.07%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PSDQX Category Low Category High PSDQX % Rank
Net Income Ratio 0.46% -1.30% 14.86% 52.88%

Capital Gain Distribution Analysis

PSDQX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

PSDQX - Fund Manager Analysis

Managers

Michael Salm

Start Date

Tenure

Tenure Rank

Oct 17, 2011

10.63

10.6%

Mr. Salm is a Co-Head of Fixed Income, specializing in liquid markets and securitized strategies. In this role, he oversees investment strategies related to mortgage and securitized products, interest-rate and volatility derivatives, and money markets. In addition, he manages trading operations and Putnam's Fixed Income quantitative teams. He is a portfolio manager of core global, core plus, global government, fixed income global alpha, and dedicated mortgage strategies, as well as fixed income hedge funds. Mr. Salm joined Putnam in 1997 and has been in the investment industry since 1989. Previously at Putnam, he served as a Portfolio Manager responsible for mortgage strategies in fixed income portfolios. Prior to joining Putnam, Mr. Salm was a Mortgage Specialist at BlackRock Financal Management from 1996 to 1997, a Vice President and Trader at Nomura Securities from 1994 to 1996, a Vice President and Structurer at Nikko Securities from 1993 to 1994, and an Analyst at Fitch Investor Services from 1991 to 1992. Mr. Salm earned a B.S. from Cornell University.

Joanne Driscoll

Start Date

Tenure

Tenure Rank

Oct 17, 2011

10.63

10.6%

Ms. Driscoll is a Portfolio Manager of Putnam Funds. Ms. Driscoll is responsible for leading the money market investment process and has accountability for the implementation of the group’s work. She joined Putnam in 1995 as the Money Market Credit Analyst with the Cash Management Group. Ms. Driscoll is a CFA charterholder and has been in the investment industry since 1992.

Michael Lima

Start Date

Tenure

Tenure Rank

Apr 30, 2019

3.09

3.1%

Andrew Benson

Start Date

Tenure

Tenure Rank

Aug 31, 2021

0.75

0.8%

Mr. Benson is a Portfolio Manager in the Fixed Income group. He specializes in investment-grade and crossover strategies within the Corporate and Tax-Exempt Credit team. Mr. Benson is a Portfolio Manager of Putnam’s Core Bond, Core Bond Intermediate, Core Plus, Investment-Grade Corporate Credit, Short Duration Bond, Stable Value, and Ultra Short Duration Income strategies as well as crossover credit and preferred mandates. He collaborates with portfolio managers and analysts on ESG integration, assessing the fundamental relevance of ESG issues at a security level and the potential for alpha generation and risk mitigation at the portfolio level. Mr. Benson has been in the investment industry since he joined Putnam in 2008. Previously at Putnam, Mr. Benson was an Investment-Grade Trader and an Analyst in the Global Credit Research group, focusing on high-yield and investment-grade issuers in the food, beverage, restaurant, and supermarket sectors. Earlier, he served as a High-Yield Trader and Investment Associate, covering the gaming, technology, and auto supplier sectors. Mr. Benson earned a B.A. in Economics from Tufts University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 0.13

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