- ISIN
- US7467643232
- Issuer
- Putnam
- Inception Date
- Dec 22, 2008
- Category
- Intermediate Core Bond
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PYTRX Performance Chart
Putnam Fixed Income Absolute Return Fund (PYTRX) is up 0.3% since the beginning of the year. PYTRX is currently trading at $8 per share. Investors who bought $1,000 worth of PYTRX shares 5 years ago would now be looking at an investment worth $1,059.
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Returns By Period
Putnam Fixed Income Absolute Return Fund (PYTRX) has returned 0.34% so far this year and 4.56% over the past 12 months. Over the last ten years, PYTRX has returned 2.53% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Putnam Fixed Income Absolute Return Fund
- 1D
- 0.24%
- 1M
- 0.85%
- YTD
- 0.34%
- 6M
- 0.48%
- 1Y
- 4.56%
- 3Y*
- 4.15%
- 5Y*
- 1.15%
- 10Y*
- 2.53%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PYTRX Monthly Returns History
Based on dividend-adjusted daily data since Aug 3, 2012, PYTRX's average daily return is +0.01%, while the average monthly return is +0.18%. At this rate, an investment would double in approximately 32.1 years.
Historically, 65% of months were positive and 35% were negative. The best month was Nov 2023 with a return of +4.7%, while the worst month was Mar 2020 at -7.5%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PYTRX closed higher 40% of trading days. The best single day was Dec 13, 2023 with a return of +1.4%, while the worst single day was Mar 19, 2020 at -2.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.24% | 1.68% | -2.15% | 0.12% | 0.24% | 0.24% | 0.34% | ||||||
| 2025 | 0.25% | 2.12% | 0.01% | 0.26% | -0.61% | 1.59% | -0.23% | 1.25% | 1.10% | 0.58% | 0.71% | -0.22% | 6.98% |
| 2024 | 0.02% | -1.32% | 0.62% | -2.32% | 1.78% | 1.01% | 2.24% | 1.47% | 1.33% | -2.37% | 1.12% | -1.62% | 1.81% |
| 2023 | 0.54% | -0.67% | 1.95% | 0.66% | -1.13% | -0.51% | -0.03% | -0.63% | -2.38% | -1.81% | 4.71% | 3.81% | 4.35% |
| 2022 | 0.53% | -0.37% | -0.15% | -0.15% | -0.49% | -1.31% | 1.20% | -0.45% | -2.10% | 0.67% | 2.23% | -1.72% | -2.17% |
| 2021 | 0.49% | 1.32% | -0.24% | -0.34% | -0.86% | -0.46% | -1.84% | 0.08% | 0.08% | -1.34% | -0.59% | -1.15% | -4.78% |
Benchmark Metrics
Putnam Fixed Income Absolute Return Fund has an annualized alpha of 1.38%, beta of 0.06, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since August 03, 2012.
- This fund participated in 18.06% of S&P 500 Index downside but only 13.67% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.06 may look defensive, but with R2 of 0.07 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 0.07 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.
- Alpha
- 1.38%
- Beta
- 0.06
- R²
- 0.07
- Upside Capture
- 13.67%
- Downside Capture
- 18.06%
Expense Ratio
PYTRX has an expense ratio of 0.46%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PYTRX ranks 20 for risk / return — below 20% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Putnam Fixed Income Absolute Return Fund (PYTRX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PYTRX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.37 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 2.78 | -1.27 |
| Martin ratioReturn relative to average drawdown | 4.23 | 12.44 | -8.21 |
Dividends
Dividend History
Putnam Fixed Income Absolute Return Fund provided a 4.00% dividend yield over the last twelve months, with an annual payout of $0.33 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.33 | $0.33 | $0.35 | $0.37 | $0.36 | $0.32 | $0.33 | $0.40 | $0.24 | $0.46 | $0.33 | $0.48 |
Dividend yield | 4.00% | 4.02% | 4.31% | 4.43% | 4.38% | 3.67% | 3.44% | 4.02% | 2.49% | 4.76% | 3.40% | 4.96% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam Fixed Income Absolute Return 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.00 | $0.12 | ||||||
| 2025 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.33 |
| 2024 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.35 |
| 2023 | $0.04 | $0.04 | $0.00 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.37 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.36 |
| 2021 | $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 Fixed Income Absolute Return 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 Fixed Income Absolute Return Fund was 12.75%, occurring on Oct 19, 2023. Recovery took 221 trading sessions.
The current Putnam Fixed Income Absolute Return Fund drawdown is 1.56%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 correction2023 | -12.75%Oct 2023 | 2y 7mo | 10mo 23d | 3y 6moMar 2021 - Sep 2024 |
COVID crash2020 | -11.43%Mar 2020 | 28d | 9mo 5d | 10mo 3dFeb 2020 - Dec 2020 |
2016 pullback2016 | -7.49%Feb 2016 | 1y 4mo | 11mo 7d | 2y 3moSep 2014 - Jan 2017 |
2025 pullback2025 | -4.63%Jan 2025 | 3mo 28d | 6mo 20d | 10mo 18dSep 2024 - Aug 2025 |
Rate-hike selloffLate 2018 | -3.29%Dec 2018 | 2mo 21d | 3mo 5d | 5mo 26dOct 2018 - Mar 2019 |
Drawdown Indicators
| PYTRX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.75% | -56.78% | +44.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -9.10% | +5.99% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -18.90% | +12.83% |
Max Drawdown (5Y)Largest decline over 5 years | -11.36% | -25.43% | +14.07% |
Max Drawdown (10Y)Largest decline over 10 years | -12.75% | -33.92% | +21.17% |
Current DrawdownCurrent decline from peak | -1.56% | -1.80% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -2.45% | -10.71% | +8.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 2.03% | -0.92% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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