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Putnam Short-Term Municipal Income Fund

Overall Morningstar Rating

As of 10/31/2025

Rating Category: Muni National Short

The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Morningstar Style Box

As of 11/05/2025

Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.

Historical Morningstar Ratings

As of 10/31/2025

Years	3
Ratings
Number of Funds In Category	210

Years	5
Ratings
Number of Funds In Category	195

Years	10
Ratings
Number of Funds In Category	152

©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

See the risks and other important information.

Overview

Tax Information

Federal ID Number 46-1611103

For information on tax years prior to 2008, please contact us

These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.

Distributions per Share ($)

Record Date	Ordinary Dividends	Qualified Dividends	Capital Gain Distributions	Unrecaptured Section 1250 Gain	Non-Taxable Return Of Capital	Section 199a Dividends	Foreign Tax Paid	Exempt Interest Dividends	Interest on Tax Reclaim Refunds
Jan 31	0.001882879	—	—	—	—	—	—	0.027129121	—
Feb 28	0.001844458	—	—	—	—	—	—	0.026575542	—
Mar 31	0.001744707	—	—	—	—	—	—	0.025138293	—
Apr 30	0.001813566	—	—	—	—	—	—	0.026130434	—
May 30	0.001940445	—	—	—	—	—	—	0.027958555	—
Jun 30	0.001735361	—	—	—	—	—	—	0.025003639	—
Jul 31	0.001846145	—	—	—	—	—	—	0.026599855	—
Aug 29	0.001898455	—	—	—	—	—	—	0.027353545	—
Sep 30	0.001697524	—	—	—	—	—	—	0.024458476	—
Oct 22	0.001524566	—	—	—	—	—	—	0.021966434	—
	0.017928106	—	—	—	—	—	—	0.258313894	—

Record Date

Jan 31

Ordinary Dividends

0.001882879

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.027129121

Interest on Tax Reclaim Refunds

—

Record Date

Feb 28

Ordinary Dividends

0.001844458

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.026575542

Interest on Tax Reclaim Refunds

—

Record Date

Mar 31

Ordinary Dividends

0.001744707

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.025138293

Interest on Tax Reclaim Refunds

—

Record Date

Apr 30

Ordinary Dividends

0.001813566

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.026130434

Interest on Tax Reclaim Refunds

—

Record Date

May 30

Ordinary Dividends

0.001940445

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.027958555

Interest on Tax Reclaim Refunds

—

Record Date

Jun 30

Ordinary Dividends

0.001735361

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.025003639

Interest on Tax Reclaim Refunds

—

Record Date

Jul 31

Ordinary Dividends

0.001846145

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.026599855

Interest on Tax Reclaim Refunds

—

Record Date

Aug 29

Ordinary Dividends

0.001898455

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.027353545

Interest on Tax Reclaim Refunds

—

Record Date

Sep 30

Ordinary Dividends

0.001697524

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.024458476

Interest on Tax Reclaim Refunds

—

Record Date

Oct 22

Ordinary Dividends

0.001524566

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.021966434

Interest on Tax Reclaim Refunds

—

Record Date

Ordinary Dividends

0.017928106

Qualified Dividends

—

Capital Gain Distributions

—

Unrecaptured Section 1250 Gain

—

Non-Taxable Return Of Capital

—

Section 199a Dividends

—

Foreign Tax Paid

—

Exempt Interest Dividends

0.258313894

Interest on Tax Reclaim Refunds

—

Supplemental Tax Information

Foreign Source Income

—

Foreign Source Qualified Dividends

—

Direct U.S. Government Obligations

0.43%

Specified Private Activity Bond Interest

15.39%

Dividends Received Deduction

—

Section 163(j)

100.00%

Indiana Resident Taxable Income

94.82%

Utah Resident Taxable Income

62.90%

Tax-Exempt Income By Jurisdiction

Alabama

4.52%

Alaska

1.21%

Arizona

2.87%

California

10.08%

Colorado

1.01%

Connecticut

0.47%

Dist. of Columbia

1.45%

Florida

8.98%

Georgia

2.69%

Guam

0.06%

Hawaii

0.35%

Idaho

0.25%

Illinois

0.97%

Indiana

1.66%

Kentucky

5.75%

Louisiana

3.34%

Maine

0.08%

Maryland

0.07%

Massachusetts

1.14%

Michigan

1.11%

Minnesota

1.44%

Missouri

2.35%

Montana

0.90%

Nebraska

1.54%

Nevada

0.96%

New Hampshire

0.08%

New Jersey

2.34%

New Mexico

2.19%

New York

3.31%

North Carolina

2.70%

North Dakota

0.99%

Ohio

4.38%

Pennsylvania

3.03%

Puerto Rico

1.24%

South Carolina

0.42%

South Dakota

0.14%

Tennessee

4.18%

Texas

10.09%

US Virgin Islands

0.76%

Utah

1.37%

Virginia

1.86%

Washington

5.59%

Wisconsin

0.51%

Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.

Documents

Regulatory Documents

 PDF Format 
 Statement Of Additional Information - Putnam Funds Trust 
 Mailed hardcopies unavailable. 
 PDF Format 
 Prospectus - Putnam Short-Term Municipal Income Fund 
 Mailed hardcopies unavailable. 
 PDF Format 
 Fiscal Q3 Holdings - Putnam Short-Term Municipal Income Fund 
 Mailed hardcopies unavailable. 
 PDF Format 
 Fiscal Q1 Holdings - Putnam Short-Term Municipal Income Fund 
 Mailed hardcopies unavailable. 
 PDF Format 
 Summary Prospectus - Putnam Short-Term Municipal Income Fund 
 Mailed hardcopies unavailable. 
 PDF Format 
 Semi-Annual Report - Putnam Short-Term Municipal Income Fund - Class R6 
 Mailed hardcopies unavailable. 
 PDF Format 
 Semi-Annual Financial Statements and Other Information - Putnam Short-Term Municipal Income Fund 
 Mailed hardcopies unavailable. 
 PDF Format 
 Annual Financial Statements and Other Information - Putnam Short-Term Municipal Income Fund 
 Mailed hardcopies unavailable. 
 PDF Format 
 Annual Report - Putnam Short-Term Municipal Income Fund - Class R6 
 Mailed hardcopies unavailable. 

Important Information

Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.

Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.

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Important data provider notices and terms available at www.franklintempletondatasources.com.

Performance data quoted represents past performance, which does not guarantee future results.

Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.

Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.

			High	Quality
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LTD	MOD	EXT
Duration