Putnam High Yield Fund (PHYIX)
The fund invests mainly in bonds that are obligations of U.S. companies, are below investment-grade in quality, and have intermediate- to long-term maturities. Under normal circumstances, it invests at least 80% of its net assets in securities rated below-investment-grade. The adviser 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. The fund may also invest in other debt instruments, including loans.
Fund Info
US74678J1043
74678J104
Mar 25, 1986
$0
Expense Ratio
PHYIX has a high expense ratio of 1.01%, indicating above-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Putnam High Yield Fund (PHYIX) returned 1.38% year-to-date (YTD) and 7.60% over the past 12 months. Over the past 10 years, PHYIX returned 4.24% annually, underperforming the S&P 500 benchmark at 10.85%.
PHYIX
1.38%
0.96%
0.99%
7.60%
5.41%
5.36%
4.24%
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of PHYIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.23% | 0.66% | -1.26% | -0.38% | 1.15% | 1.38% | |||||||
| 2024 | 0.29% | 0.29% | 1.24% | -1.04% | 1.24% | 0.85% | 1.80% | 1.40% | 1.20% | -0.46% | 1.39% | -0.57% | 7.86% |
| 2023 | 4.02% | -1.52% | 0.81% | 1.00% | -1.13% | 1.63% | 1.41% | 0.26% | -1.31% | -1.72% | 4.75% | 3.40% | 11.95% |
| 2022 | -2.34% | -1.02% | -0.86% | -3.53% | -0.34% | -6.68% | 5.43% | -1.89% | -4.48% | 2.69% | 1.83% | -0.78% | -11.85% |
| 2021 | 0.19% | 0.18% | 0.36% | 1.04% | 0.52% | 1.19% | 0.18% | 0.52% | -0.15% | 0.02% | -1.16% | 5.26% | 8.32% |
| 2020 | 0.07% | -1.48% | -11.53% | 4.22% | 4.46% | 0.61% | 4.40% | 1.07% | -1.03% | 0.54% | 3.55% | 1.56% | 5.49% |
| 2019 | 4.50% | 1.49% | 0.95% | 1.64% | -1.31% | 2.17% | 0.59% | 0.41% | 0.24% | 0.41% | 0.59% | 1.62% | 14.02% |
| 2018 | 0.74% | -1.11% | -0.61% | 0.24% | 0.07% | 0.07% | 0.94% | 0.76% | 0.41% | -1.83% | -0.99% | -2.44% | -3.75% |
| 2017 | 0.97% | 1.14% | -0.22% | 0.97% | 0.80% | -0.05% | 1.26% | -0.10% | 0.91% | 0.57% | -0.10% | 0.40% | 6.76% |
| 2016 | -1.54% | 0.33% | 4.51% | 3.25% | 0.84% | 0.66% | 2.25% | 2.21% | 0.47% | 0.29% | -0.39% | 1.68% | 15.41% |
| 2015 | 0.45% | 2.29% | -0.37% | 1.27% | 0.44% | -1.52% | -0.55% | -2.07% | -2.66% | 2.63% | -2.32% | -2.92% | -5.40% |
| 2014 | 0.59% | 1.73% | 0.43% | 0.43% | 0.91% | 0.91% | -1.31% | 1.40% | -2.11% | 1.09% | -0.69% | -1.35% | 1.96% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 91, PHYIX is among the top 9% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Putnam High Yield Fund (PHYIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Putnam High Yield Fund provided a 7.35% dividend yield over the last twelve months, with an annual payout of $0.39 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.39 | $0.41 | $0.29 | $0.25 | $0.25 | $0.27 | $0.29 | $0.29 | $0.31 | $0.32 | $0.32 | $0.32 |
Dividend yield | 7.35% | 7.84% | 5.46% | 5.04% | 4.24% | 4.56% | 4.89% | 5.30% | 5.16% | 5.54% | 6.03% | 5.40% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam High Yield Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.03 | $0.02 | $0.03 | $0.00 | $0.10 | |||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.14 | $0.41 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.05 | $0.29 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.29 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.29 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.31 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Putnam High Yield Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Putnam High Yield Fund was 31.17%, occurring on Dec 16, 2008. Recovery took 182 trading sessions.
The current Putnam High Yield Fund drawdown is 0.51%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -31.17% | May 20, 2008 | 146 | Dec 16, 2008 | 182 | Sep 8, 2009 | 328 |
| -21% | Feb 21, 2020 | 22 | Mar 23, 2020 | 142 | Oct 13, 2020 | 164 |
| -19.38% | Jul 10, 1989 | 335 | Oct 19, 1990 | 129 | Apr 18, 1991 | 464 |
| -18.6% | Jul 23, 1998 | 63 | Oct 19, 1998 | 1143 | Apr 22, 2003 | 1206 |
| -15.22% | Jan 5, 2022 | 185 | Sep 29, 2022 | 363 | Mar 12, 2024 | 548 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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