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Managed Fund Since 2021
Equity Active
PGRO Putnam Focused Large Cap Growth ETF
- Durable growth. Seek to identify companies exhibiting above-average growth that can outperform in a variety of economic environments.
- A thematic approach. We combine top-down investment themes with bottom-up research to select securities that can benefit from growth trends.
- Emphasis on risk-adjusted performance. Construct a concentrated portfolio that seeks to maximize stock-specific risk and mitigate factor bets.
Popular Documents
Total Net Assets
$64.77M
As of 01/09/2026 (Updated Daily)
Change to a transparent ETF and management fee reduction
Effective September 15, 2025, the fund transitioned to a 'transparent' ETF, disclosing its complete portfolio holdings daily under Rule 6c-11 of the Investment Company Act of 1940. Effective July 1, 2025, the all-inclusive management fee decreased to 0.49%. Refer to the fund’s prospectus for more information.
Overview
Fund Facts
Fund description
The fund seeks capital appreciation. The fund invests mainly in common stocks of large U.S. companies, with a focus on growth stocks.
- Benchmark
- Russell 1000 Growth Index
- Fund Inception Date
- 05/25/2021
- Listing Exchange
- NYSE Arca
Identifiers
- Ticker
- PGRO
- CUSIP Code
- 746729409
- ISIN Code
- US7467294093
- Bloomberg Code
- PGRO US
Average Annual Total Returns As of 11/30/2025
- 18.18%1 Year
- 27.62%3 Years
- —5 Years
- —10 Years
- 14.02%Since Inception
05/25/2021
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 12/31/2025 % of Total (Updated Monthly)
Information Technology48.64% | |
Communication Services11.74% | |
Consumer Discretionary9.87% | |
Health Care8.94% | |
Financials7.43% |
Additional Fund Info
- Fiscal Year End
- August 31
- ETF Type
- Active
- Morningstar Category
6 - Large Growth
Trading Characteristics
- Shares Outstanding
- 1,450,000
- Daily Volume
- 10,245
- 20-Day Average Volume
- 5722.85
Manager and Commentary
About the Team
Putnam Investments
Putnam Investments has been serving clients and shareholders for over 85 years. We manage a range of equity portfolios with a focus on stock-specific opportunities. Our approach — stock-driven rather than style-driven — is designed to offer consistent outperformance, regardless of the market environment. Our portfolios are fueled by a variety of independent views and perspectives, enhanced by fundamental research and ongoing dialogue and debate. We combine this with portfolio construction that aims to reduce broader macro exposures and manage downside risk.
Commentary Highlights
September 30, 2025- Markets: US equities delivered strong performance, and large-cap growth stocks handily outperformed their value counterparts in the quarter.
- Contributors: Stock selection in information technology, real estate and materials
- Detractors: Stock selection in communication services, consumer discretionary and industrials
- Outlook: Uncertainty continues to surround the Trump administration’s actions, but the US economy has remained resilient.
Putnam Investments
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Managed Fund Since 2021
Latest Insights
January 8, 2026
December 10, 2025
August 14, 2025
Performance
Average Annual Total Returns
As of 11/30/2025
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Returns are based on Market Price or NAV, assume the reinvestment of all distributions and the deduction of all Fund expenses. Performance would have been lower if expenses had not been waived in various periods. Returns for periods of less than one year are not annualized.
Selected Month November 2025
Putnam Focused Large Cap Growth ETF - Market Price Return (%)
Month End
As of 11/30/2025
Putnam Focused Large Cap Growth ETF - NAV Return (%)
Month End
As of 11/30/2025
Russell 1000 Growth Index (%)
Month End
As of 11/30/2025
Ratings 3
©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.
Portfolio
Assets
As of01/09/2026 (Updated Daily)
- Total Net Assets
- $64.36 Million
Positions
As of 12/31/2025 (Updated Monthly)
Number of Issuers
- Fund
- 32
Portfolio Statistics
As of 12/31/2025 (Updated Monthly)
Weighted Average Market Capitalization (USD)
- Fund
- $2,076.82 Billion
- Fund
- 13.62x
- Fund
- 29.64x
Market Capitalization Allocation 9
As of 12/31/2025 % of Total (Updated Quarterly)
| Market Capitalization | Fund |
|---|---|
| $36.6B - $155.9B | 14.53% |
| Over $155.9B | 82.64% |
| Cash and other assets | 2.82% |
Holdings
As of 01/09/2026 (Updated Daily)
NVIDIA CORP
MICROSOFT CORP
APPLE INC
BROADCOM INC
ALPHABET INC-CL A
AMAZON.COM INC
META PLATFORMS INC-CLASS
TESLA INC
ELI LILLY & CO
MASTERCARD INC - A
Portfolio holdings are based on total portfolio, and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security. Any negative allocations or allocations in excess of 100% are primarily due to unsettled trade activities.
Distributions & Tax
- Distribution Frequency
- AnnuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Distributions are not guaranteed and are subject to change.
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
12/19/2025
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Pricing History
As of 01/09/2026 (Updated Daily)
Daily Fund Prices
As of 01/09/2026
Share Prices
As of 01/09/2026
52-Week Range
- Highest NAV
As of 10/29/2025 - $46.50
- Lowest NAV
As of 04/08/2025 - $31.00
- Highest Market Price
As of 10/29/2025 - $46.48
- Lowest Market Price
As of 04/08/2025 - $31.00
Premium / Discount
As of 01/09/2026
- 30-Day Median Bid/Ask Spread
- 0.09%
- Bid / Ask Spread
- $0.15
- Avg. of Market Price vs. NAV at Close
7 - 0.02%
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Putnam Focused Large Cap Growth ETF | |||
| Product Commentary - Putnam Focused Large Cap Growth ETF | |||
| Flyer - Franklin All-Star Lineup - Morningstar |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Putnam Focused Large Cap Growth ETF - Single Class | |||
| Annual Financial Statements and Other Information - Putnam Focused Large Cap Growth ETF | |||
| Semi-Annual Report - Putnam Focused Large Cap Growth ETF - Single Class | |||
| Semi-Annual Financial Statements and Other Information - Putnam Focused Large Cap Growth ETF | |||
| Prospectus - Putnam Focused Large Cap Growth ETF | |||
| Summary Prospectus - Putnam Focused Large Cap Growth ETF | |||
| Statement Of Additional Information - Putnam Focused Large Cap Growth ETF | |||
| Fiscal Q1 Holdings - Putnam Focused Large Cap Growth ETF | |||
| Fiscal Q3 Holdings - Putnam Focused Large Cap Growth ETF |
Risks
All investments involve risks, including possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. The portfolio is non-diversified and may invest in a relatively small number of issuers, which may negatively impact the performance and result in greater fluctuation in value. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund's prospectus.
Important 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.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
All investments involve risk, including possible loss of principal. Please see each product's web page for specific details regarding investment objective, risks, performance, and other important information. Review this information carefully before you make any investment decision. Investors cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges.
Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Please view the prospectus or summary prospectus for this and other information. Read it carefully.
Franklin Templeton, its affiliated companies, 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. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.
ETFs trade like stocks, fluctuate in market value and may trade at prices above or below their net asset value. Brokerage commissions and ETF expenses will reduce returns. ETF shares may be bought or sold throughout the day at their market price (MP), not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market. Prior to trading in the secondary market, shares of the fund are "created" at NAV by market makers, large investors and institutions only in block-size Creation Units. Each "creator" or "Authorized Participant" enters into an authorized participant agreement with Franklin Distributors, LLC. Only an Authorized Participant may create or redeem Creation Units directly with the fund. Retail investors buy and sell shares of ETFs at market price (not NAV) in the secondary market throughout the trading day. These shares are not individually available for purchase or redemption directly from the ETF.
Franklin Distributors, LLC serves as the distributor of Creation Units for the ETFs on an agency basis. Franklin Distributors, LLC does not maintain a secondary market in the funds' shares.
The Russell 1000 Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe.
Source: FTSE.
Franklin Distributors, LLC. Member FINRA / SIPC . Putnam Investments is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.