Putnam Ultra Short Duration Income Fund (PSDYX)

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Putnam Ultra Short Duration Income Fund (PSDYX) is up 1.4% since the beginning of the year. PSDYX is currently trading at $10 per share. Investors who bought $1,000 worth of PSDYX shares 5 years ago would now be looking at an investment worth $1,181.

Putnam Ultra Short Duration Income Fund (PSDYX) has returned 1.43% so far this year and 4.39% over the past 12 months. Over the last ten years, PSDYX has returned 2.53% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Aug 3, 2012, PSDYX's average daily return is +0.01%, while the average monthly return is +0.17%. At this rate, an investment would double in approximately 34.0 years.

Historically, 87% of months were positive and 13% were negative. The best month was Apr 2020 with a return of +1.4%, while the worst month was Mar 2020 at -1.7%. The longest winning streak lasted 49 consecutive months, and the longest losing streak was 3 months.

On a daily basis, PSDYX closed higher 9% of trading days. The best single day was Jul 31, 2023 with a return of +0.5%, while the worst single day was Mar 20, 2020 at -0.5%.

Putnam Ultra Short Duration Income Fund has an annualized alpha of 2.00%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 03, 2012.

• This fund captured 5.44% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -2.66%) - a profile typical of hedging or uncorrelated assets.
• Beta of 0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PSDYX has an expense ratio of 0.30%, placing it in the medium range.

PSDYX ranks 98 for risk / return — in the top 98% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

Putnam Ultra Short Duration Income Fund provided a 4.40% dividend yield over the last twelve months, with an annual payout of $0.45 per share.

The table displays the monthly dividend distributions for Putnam Ultra Short Duration Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Putnam Ultra Short Duration Income 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 Ultra Short Duration Income Fund was 2.58%, occurring on Mar 25, 2020. Recovery took 44 trading sessions.

The chart below shows the rolling one-month volatility.