Fixed Income Active

PHYD Putnam ESG High Yield ETF

Income-focused. Pursues a higher level of income than most bonds offer by investing in higher-yielding, lower-rated corporate bonds.
Bottom-up process. Invests across a range of industries and companies with the ability to adjust fund holdings to capitalize on market opportunities.
Integrated ESG approach. Incorporates consideration of material environmental, social and governance (ESG) factors that managers view as additive to the fundamental understanding of each issuer.

Overview

See the risks and other important information.

Fund Facts

Fund description

The fund seeks high current income. Capital growth is a secondary goal when consistent with achieving high current income. The fund invests mainly in bonds that are below investment grade in quality with a focus on companies or issuers that the fund's investment manager believes meet relevant environmental, social or governance (ESG) criteria on a sector-specific basis.

Benchmark: JPMorgan Developed High Yield Index
Fund Inception Date: 01/19/2023
Listing Exchange: NYSE Arca
Dividend Frequency, if any: Monthly
Distribution Rate at NAV⁴As of 03/10/2026 (Updated Daily): 5.24%
30-Day SEC Yield—With Waiver^5,6,7As of 02/28/2026 (Updated Monthly): 5.53%
30-Day SEC Yield—Without Waiver^6,7As of 02/28/2026 (Updated Monthly): 5.53%

Expenses & Fees

As of 09/01/2025

Gross Expense Ratio⁸: 0.57%
Net Expense Ratio^8,9: 0.55%

Identifiers

Ticker: PHYD
Intraday NAV: PHYD.IV
CUSIP Code: 746729888
ISIN Code: US7467298888
Bloomberg Code: PHYD US

Average Annual Total Returns As of 02/28/2026

View performance section for additional info As of 02/28/2026

Market Price Return

NAV Return

7.03%1 Year
8.61%3 Years
—5 Years
—10 Years
7.95%Since Inception
01/19/2023

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

View portfolio section for additional info

As of 02/28/2026 - Notional Exposure % of Total (Updated Monthly)

Top Sectors
Consumer Cyclicals18.62%
Financial13.97%
Capital Goods10.13%
Communication Services9.53%
Basic Materials6.84%

Additional Fund Info

Fiscal Year End: April 30
ETF Type: Active
Morningstar Category¹⁰: High Yield Bond

Trading Characteristics

As of 03/10/2026 (Updated Daily)

Shares Outstanding: 150,000
Daily Volume: 74,839
20-Day Average Volume: 150140.40

Manager and Commentary

About the Team

Franklin Templeton Fixed Income

A global leader in fixed income, the team strives to provide consistent and resilient returns by combining deep fundamental research with rigorous portfolio construction. This solutions-driven approach means maintaining portfolio and risk exposures that align with client expectations.

Franklin Templeton Fixed Income

Managed Fund Since 2023

Managed Fund Since

Latest Insights

March 9, 2026

Municipal bond market monthly brief

March 2, 2026

On My Mind: Iran—Early considerations on market impact

February 19, 2026

On My Mind: Of bots and men—Investing in the age of AI

January 26, 2026

European fixed income outlook—cautious optimism

January 21, 2026

The municipal bond market outlook: Continued stability—a good sign for investors (new app)

Performance

Average Annual Total Returns

As of 02/28/2026

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.

Month End

Quarter End

As of

Putnam ESG High Yield ETF - Market Price Return (%)

Month End

As of 02/28/2026

Putnam ESG High Yield ETF - NAV Return (%)

Month End

As of 02/28/2026

JPMorgan Developed High Yield Index (%)

Month End

As of 02/28/2026

Overall Morningstar Rating: Overall Morningstar Rating: 3 out of 5 stars
As of 02/28/2026

3 Years: 3 Years: 3 out of 5 stars
583 Funds in category

5 Years: —

10 Years: —

Rating Category: High Yield Bond

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 02/28/2026

Current Historical
			High
			Medium
			Low
LTD	MOD	EXT
Duration

Quality

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.

©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 of03/10/2026 (Updated Daily)

Total Net Assets: $7.55 Million

Positions

As of 01/31/2026 (Updated Monthly)

Number of Holdings

Fund: 336

Portfolio Statistics

As of 01/31/2026 (Updated Monthly)

Weighted Average Life

Fund: 3.39 Years

Effective Duration

Fund: 2.64 Years

Yield to Maturity ¹¹
Yield to Maturity (‘YTM’) also known as the ‘Gross Redemption Yield’ or ‘Redemption Yield’. The rate of return anticipated on a bond if it is held until the maturity date. YTM is considered a long-term bond yield expressed as an annual rate. The calculation of YTM takes into account the current market price, par value, coupon interest rate and time to maturity. It is also assumed that all coupons are reinvested at the same rate.

Fund: 6.19%

Credit Quality Allocation ¹⁴

As of 02/28/2026 - Market Value (Updated Monthly)

Credit Quality Allocation
Credit Quality	Fund
BBB	8.48%
BB	48.27%
B	17.94%
CCC and Below	3.67%
Not Rated	0.38%
Net Cash	21.26%

Holdings
As of 03/10/2026 (Updated Daily)

Net Current Assets

PUTNAM GOVT MMKT FND-P

APLD COMPUT 9.25 12/30

DexKo Glo 10/04/ 10/04/28

NEPTUNE BIDCO US 9.5 2/33

CCP INITIAL MARGIN BARCUS

KINETIK HLDING 5.875 6/30

WYNN RESORTS F 7.125 2/31

BOISE CASCADE 4.875 7/30

FIRSTCASH INC 6.875 3/32

Portfolio holdings are based on the 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.

Distributions & Tax

12/24/2025

08/25/2025

04/23/2025

Pricing

Pricing History

As of 03/10/2026 (Updated Daily)

Time Period

From

From Date

To Date

Daily Fund Prices

As of 03/10/2026

Share Prices

As of 03/10/2026

NAV ¹(Net Asset Value): $50.32
NAV Change ¹: $0.00
NAV Change (%) ¹: 0.00%
Market Price ¹: $50.20
Market Price Change ¹: $-0.09
Market Price Change (%) ¹: -0.18%

52-Week Range

Highest NAV As of 09/22/2025: $52.44
Lowest NAV As of 04/08/2025: $49.46
Highest Market Price As of 10/27/2025: $52.68
Lowest Market Price As of 08/07/2025: $0.00

Premium / Discount

As of 03/10/2026

30-Day Median Bid/Ask Spread: 0.17%
Bid / Ask Spread: $0.12
Avg. of Market Price vs. NAV at Close ¹²: -0.24%

Documents

Fund Literature

Fund Literature
Checkbox	Name	Download	Add to Cart
Checkbox	Factsheet - Putnam ESG High Yield ETF	Download Document

Regulatory Documents

Regulatory Documents
Checkbox	Name	Download
Checkbox	Annual Report - Putnam ESG High Yield ETF Single Class	Download Document
Checkbox	Annual Financial Statements and Other Information - Putnam ESG High Yield ETF	Download Document
Checkbox	Semi-Annual Report - Putnam ESG High Yield ETF - Single Class	Download Document
Checkbox	Semi-Annual Financial Statements and Other Information - Putnam ESG High Yield ETF	Download Document
Checkbox	Prospectus - Putnam Esg High Yield ETF	Download Document
Checkbox	Summary Prospectus - Putnam ESG High Yield ETF	Download Document
Checkbox	Statement of Additional Information- Putnam ETF Trust	Download Document
Checkbox	Fiscal Q1 Holdings - Putnam Esg High Yield ETFMailed hardcopies unavailable.	Download Document
Checkbox	Fiscal Q3 Holdings - Putnam Esg High Yield ETFMailed hardcopies unavailable.	Download Document

Risks

All investments involve risks, including possible loss of principal. The managers’ environmental, social and governance (ESG) strategies may limit the types and number of investments available and, as a result, may forgo favorable market opportunities or underperform strategies that are not subject to such criteria. There is no guarantee that the strategy's ESG directives will be successful or will result in better performance. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. Active management does not ensure gains or protect against market declines. 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 JPMorgan Developed High Yield Index is an unmanaged index of high-yield fixed income securities issued in developed countries. Source: JP Morgan.

Franklin Distributors, LLC. Member FINRA / SIPC . Putnam Investments is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.

Footnotes

Net Asset Value (NAV) returns are based on the NAV of the ETF/ETP. The fund’s NAV represents the per-share-value and is determined by dividing the total NAV of the fund by the number of shares outstanding; Market Price returns are based upon the official closing price of the ETF’s/ETP's shares. The fund calculates the NAV per share each business day and normally coincides with the close of trading on the exchange on which they are listed, typically 4 pm ET. The fund does not calculate the NAV on days the exchange is closed for trading. These returns do not represent investors’ returns had they traded shares at other times.
Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics. ©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.
Distribution Rate is calculated by annualizing the most recent distribution amount paid, divided by the closing market price or NAV as of the date indicated. The Distribution Rate calculation includes income, may include capital gains and excludes special distributions. The Distribution Rate is subject to change and is not guaranteed nor a quotation of fund performance.
With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.
During periods of rising inflation, fund yields can vary significantly from month-to-month and may not be repeated.
30-Day SEC Yield is calculated using the net income (interest and dividends) per share earned over a trailing 30-day period (annualized), divided by the fund’s share price at the end of that period. It may not equal the fund’s actual income distribution rate, which reflects the fund’s past dividends paid to shareholders.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
©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.
Yield to Maturity is calculated without the deduction of fees and expenses.
Premiums or discounts are the differences between the NAV and the Market Price of the Fund on a given day, generally at the time the NAV is calculated. A premium is the amount that the Fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that the Fund is trading below the reported NAV, expressed as a percentage of the NAV. The since inception premium/discount average is calculated by averaging the daily premium/discount since the inception of the fund. The daily premium/discount is the difference between the daily market price for shares of the Fund and the Fund's net asset value. The Market Price is determined using the closing price as of 4 pm ET on each trading day (when NAV is normally determined for most funds).
Premium / Discount reflects the difference between the NAV and the Market Price of the fund, and represents the amount that the fund is trading above or below its NAV, expressed as a percentage of the NAV.
Credit Quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security's rating as provided by S&P Global Ratings, Moody's Investors Service and/or Fitch Ratings, Inc. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, if two or more of the agencies have assigned differing ratings to a security, the highest rating is used. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the portfolio does not apply to the stability or safety of the portfolio. The methodology used for the calculation of credit quality ratings displayed may differ from the methodology for monitoring investment limits, if applicable. Please note, the portfolio itself has not been rated by an independent rating agency.

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PHYD Putnam ESG High Yield ETF

Popular Documents

Overview

Fund description

Expenses & Fees

Identifiers

Top Sectors

Additional Fund Info

Trading Characteristics

Manager and Commentary

About the Team

Latest Insights

Performance

Average Annual Total Returns

Ratings 3

Portfolio

Credit Quality Allocation 14Portfolio breakdown percentages may not total 100% and may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

Distributions & Tax

Pricing

Chart

Daily Fund Prices

Documents

Risks

Important Information

Footnotes

Ratings ³

Credit Quality Allocation ¹⁴