Putnam Short-Term Municipal Income Fund (PSMYX)
The investment seeks as high a level of current income exempt from federal income tax as the adviser believes is consistent with preservation of capital. The fund invests mainly in bonds that pay interest that is exempt from federal income tax (but that may be subject to federal alternative minimum tax (AMT)) and that have short-term maturities (i.e., three years or less). The bonds the fund invests in are mainly investment-grade in quality. Under normal circumstances, it invests at least 80% of the fund's net assets in tax-exempt investments, which for purposes of this policy includes investments paying interest subject to the federal AMT for individuals.
Fund Info
US74676A8247
Mar 17, 2013
$0
Expense Ratio
PSMYX features an expense ratio of 0.35%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Putnam Short-Term Municipal Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Putnam Short-Term Municipal Income Fund had a return of 0.60% year-to-date (YTD) and 3.77% in the last 12 months. Over the past 10 years, Putnam Short-Term Municipal Income Fund had an annualized return of 1.52%, while the S&P 500 had an annualized return of 11.31%, indicating that Putnam Short-Term Municipal Income Fund did not perform as well as the benchmark.
PSMYX
0.60%
0.60%
1.41%
3.77%
1.56%
1.52%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of PSMYX, 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 | 0.60% | 0.60% | |||||||||||
| 2024 | 0.07% | 0.17% | 0.08% | -0.12% | 0.09% | 0.78% | 0.69% | 0.80% | 0.46% | -0.32% | 0.60% | -0.23% | 3.12% |
| 2023 | 1.23% | -1.00% | 1.14% | -0.11% | -0.29% | 0.53% | 0.24% | -0.04% | -0.54% | 0.16% | 1.81% | 0.99% | 4.15% |
| 2022 | -1.04% | -0.26% | -1.13% | -0.83% | 0.72% | -0.29% | 1.04% | -0.87% | -1.18% | -0.16% | 1.63% | 0.24% | -2.16% |
| 2021 | 0.38% | -0.30% | 0.09% | 0.38% | 0.18% | 0.07% | 0.27% | -0.04% | -0.24% | -0.04% | 0.16% | -0.43% | 0.47% |
| 2020 | 0.55% | 0.34% | -1.13% | -0.56% | 1.23% | 0.53% | 0.62% | 0.10% | 0.10% | 0.01% | 0.29% | 0.20% | 2.26% |
| 2019 | 0.35% | 0.25% | 0.46% | 0.08% | 0.57% | 0.25% | 0.37% | 0.28% | -0.16% | 0.25% | 0.15% | 0.16% | 3.04% |
| 2018 | 0.03% | 0.03% | 0.12% | -0.17% | 0.33% | 0.35% | 0.23% | 0.06% | -0.06% | -0.05% | 0.36% | 0.45% | 1.70% |
| 2017 | 0.38% | 0.30% | 0.09% | 0.20% | 0.41% | 0.02% | 0.31% | 0.31% | 0.00% | -0.10% | -0.29% | 0.13% | 1.78% |
| 2016 | 0.37% | 0.28% | -0.23% | 0.18% | 0.06% | 0.16% | 0.16% | -0.04% | -0.12% | -0.13% | -0.83% | 0.17% | 0.03% |
| 2015 | 0.26% | -0.01% | -0.04% | -0.03% | -0.14% | 0.07% | 0.15% | 0.05% | 0.17% | 0.06% | -0.02% | -0.02% | 0.50% |
| 2014 | 0.13% | 0.16% | -0.06% | 0.15% | 0.15% | -0.03% | 0.06% | 0.06% | 0.07% | 0.06% | 0.06% | -0.04% | 0.77% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 93, PSMYX is among the top 7% 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 Short-Term Municipal Income Fund (PSMYX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Putnam Short-Term Municipal Income Fund provided a 3.38% dividend yield over the last twelve months, with an annual payout of $0.33 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 | $0.33 | $0.33 | $0.28 | $0.14 | $0.09 | $0.15 | $0.19 | $0.17 | $0.13 | $0.08 | $0.08 | $0.07 |
Dividend yield | 3.38% | 3.37% | 2.81% | 1.44% | 0.87% | 1.44% | 1.89% | 1.69% | 1.26% | 0.84% | 0.80% | 0.67% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam Short-Term Municipal Income 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 | $0.00 | $0.03 | ||||||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.28 |
| 2022 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.14 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2020 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.19 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.17 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.13 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2015 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2014 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.07 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Putnam Short-Term Municipal 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 Short-Term Municipal Income Fund was 4.67%, occurring on Oct 25, 2022. Recovery took 275 trading sessions.
The current Putnam Short-Term Municipal Income Fund drawdown is 0.10%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -4.67% | Aug 10, 2021 | 306 | Oct 25, 2022 | 275 | Nov 29, 2023 | 581 |
| -3.64% | Mar 10, 2020 | 9 | Mar 20, 2020 | 77 | Jul 10, 2020 | 86 |
| -1.12% | Aug 31, 2016 | 64 | Nov 30, 2016 | 94 | Apr 18, 2017 | 158 |
| -0.81% | Dec 9, 2024 | 9 | Dec 19, 2024 | 27 | Jan 31, 2025 | 36 |
| -0.8% | Oct 4, 2024 | 14 | Oct 23, 2024 | 26 | Nov 29, 2024 | 40 |
Volatility
Volatility Chart
The current Putnam Short-Term Municipal Income Fund volatility is 0.41%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.