Putnam Tax Free High Yield Fund (PTHYX)
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)), are a combination of below-investment-grade and investment-grade securities, and have intermediate- to long-term maturities (three years or longer). Under normal circumstances, the fund invests at least 80% of the fund's net assets in tax-exempt investments.
Fund Info
US7468722092
746872209
Sep 8, 1985
$0
Expense Ratio
PTHYX has a high expense ratio of 1.44%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Putnam Tax Free High Yield 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 Tax Free High Yield Fund had a return of 0.00% year-to-date (YTD) and 5.06% in the last 12 months. Over the past 10 years, Putnam Tax Free High Yield Fund had an annualized return of 2.29%, while the S&P 500 had an annualized return of 11.31%, indicating that Putnam Tax Free High Yield Fund did not perform as well as the benchmark.
PTHYX
0.00%
0.00%
0.28%
5.06%
0.41%
2.29%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of PTHYX, 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 | 0.00% | 0.00% | |||||||||||
| 2024 | 0.44% | 0.61% | 0.86% | -1.47% | 0.55% | 2.62% | 1.03% | 0.54% | 0.25% | 0.00% | 0.00% | 0.00% | 5.52% |
| 2023 | 4.43% | -2.88% | 1.44% | 0.33% | -0.90% | 1.54% | 0.25% | -1.52% | -3.62% | -2.54% | 7.75% | 3.42% | 7.36% |
| 2022 | -2.65% | -0.94% | -3.38% | -3.99% | 1.61% | -3.76% | 4.22% | -2.68% | -5.73% | -2.17% | 6.40% | -0.46% | -13.34% |
| 2021 | 1.83% | -1.32% | 0.82% | 1.28% | 0.94% | 0.94% | 0.78% | -0.49% | -1.01% | -0.57% | 1.17% | -1.39% | 2.96% |
| 2020 | 1.86% | 1.96% | -9.55% | -3.53% | 3.60% | 3.99% | 2.66% | 0.13% | -0.50% | -0.01% | 2.04% | 1.68% | 3.60% |
| 2019 | 0.40% | 0.82% | 1.95% | 0.33% | 1.83% | 0.44% | 0.55% | 2.10% | -0.55% | 0.08% | 0.08% | -0.56% | 7.66% |
| 2018 | -0.78% | -0.45% | 0.51% | -0.07% | 1.06% | 0.10% | 0.24% | 0.27% | -0.57% | -1.12% | 0.45% | 0.84% | 0.45% |
| 2017 | 0.86% | 1.02% | 0.20% | 0.82% | 1.32% | 0.12% | 0.64% | 1.29% | -0.06% | 0.09% | 0.18% | 0.95% | 7.67% |
| 2016 | 0.90% | 0.46% | 0.82% | 0.83% | 0.65% | 1.98% | 0.09% | 0.25% | -0.27% | -1.31% | -4.36% | 0.12% | 0.01% |
| 2015 | 2.11% | -0.72% | 0.38% | -0.26% | -0.28% | -0.64% | 0.46% | 0.22% | 0.70% | 0.68% | 0.29% | 0.74% | 3.73% |
| 2014 | 2.77% | 1.44% | 0.57% | 1.66% | 1.88% | -0.10% | 0.30% | 1.20% | 0.71% | 0.61% | 0.44% | 1.02% | 13.20% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 79, PTHYX is among the top 21% 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 Tax Free High Yield Fund (PTHYX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Putnam Tax Free High Yield Fund provided a 1.80% dividend yield over the last twelve months, with an annual payout of $0.21 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.21 | $0.24 | $0.35 | $0.32 | $0.31 | $0.34 | $0.37 | $0.40 | $0.42 | $0.40 | $0.46 | $0.50 |
Dividend yield | 1.80% | 2.05% | 3.07% | 2.94% | 2.33% | 2.59% | 2.83% | 3.28% | 3.31% | 3.31% | 3.65% | 4.00% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam Tax Free 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 | $0.00 | $0.00 | $0.00 | ||||||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.24 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.32 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.31 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.34 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.37 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.05 | $0.40 |
| 2017 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.42 |
| 2016 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.40 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.46 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.09 | $0.50 |
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 Tax Free 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 Tax Free High Yield Fund was 27.05%, occurring on Dec 23, 2008. Recovery took 277 trading sessions.
The current Putnam Tax Free High Yield Fund drawdown is 4.14%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -27.05% | Jan 24, 2008 | 233 | Dec 23, 2008 | 277 | Feb 1, 2010 | 510 |
| -20.84% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -16.44% | Mar 2, 2020 | 15 | Mar 20, 2020 | 201 | Jan 6, 2021 | 216 |
| -11.15% | Mar 20, 1987 | 148 | Oct 19, 1987 | 70 | Jan 28, 1988 | 218 |
| -10.33% | Feb 1, 1994 | 204 | Nov 21, 1994 | 117 | May 10, 1995 | 321 |
Volatility
Volatility Chart
The current Putnam Tax Free High Yield Fund volatility is 0.00%, 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.