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Managed Fund Since 2020
Equity Active
PFRX Putnam Focused U.S. Research ETF
- Concentrated portfolio of 30–45 holdings that represent the highest-conviction stocks from Putnam’s Equity Research team.
- Tenured portfolio managers bring distinct skills and partner with industry experts to identify top risk-adjusted ideas.
- Integrated risk management emphasizes stock-specific alpha and minimizes unintended factor and sector risks.
Popular Documents
Total Net Assets
$549.92M
As of 09/29/2026 (Updated Daily)
Mutual fund reorganized into this ETF
Overview
Fund Facts
Fund description
The fund seeks capital appreciation. Using a concentrated approach, the portfolio combines high-conviction stock selection and disciplined risk management to seek consistent outperformance across market environments.
- Benchmark
- Linked S&P 500 Index
- Fund Inception Date
- 12/18/2008
- Listing Exchange
- NYSE Arca
Expenses & Fees
As of 09/25/2026- Gross Expense Ratio
- 0.35%
- Net Expense Ratio
4 - 0.35%
Identifiers
- Ticker
- PFRX
- CUSIP Code
- 746729722
- ISIN Code
- US7467297229
- Bloomberg Code
- PFRX US
Average Annual Total Returns As of 08/31/2026
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.
- 20.60%1 Year
- 22.17%3 Years
- 14.01%5 Years
- 14.59%10 Years
- 15.02%Since Inception
12/18/2008
Prior to close of business on September 25, 2026, the ETF operated as an open-end mutual fund. The ETF has an identical investment goal and substantially similar investment strategies as the predecessor mutual fund. The NAV returns include returns of the Class R6 shares of the predecessor mutual fund prior to the ETF's commencement of operations. Prior to the ETF's listing on 9/28/2026, the NAV performance for the Class R6 shares of the predecessor mutual fund is used as a proxy for market price returns, which are typically calculated using the official closing price of the ETF. If the predecessor mutual fund had been structured as an exchange-traded fund, its performance may have differed. Returns for periods prior to inception of Class R6 shares are based on previous share classes. Returns for those shares were not adjusted for the lower operating expenses; had they been adjusted, performance would be higher.
Top Sectors
As of 08/31/2026 % of Total (Updated Monthly)
Information Technology37.73% | |
Financials14.47% | |
Consumer Discretionary9.36% | |
Health Care8.73% | |
Communication Services8.25% |
Additional Fund Info
- Fiscal Year End
- August 31
- Listing Date
- 09/28/2026
- ETF Type
- Active
- Morningstar Category
- Large Blend
Trading Characteristics
As of 09/29/2026 (Updated Daily)- Shares Outstanding
- 16,642,402
- Daily Volume
- 54,889
- 20-Day Average Volume
- 3140.70
Manager and Commentary
About the Team
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.
Putnam Investments
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Managed Fund Since 2024
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Managed Fund Since 2025
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Managed Fund Since 2026
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Managed Fund Since 2026
Latest Insights
August 18, 2026
May 12, 2026
Performance
Average Annual Total Returns
As of 08/31/2026
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.
Selected Month August 2026
Putnam Focused U.S. Research ETF - Market Price Return (%)
Month End
As of 08/31/2026
- 1 Year
- 20.60
- 3 Years
- 22.17
- 5 Years
- 14.01
- 10 Years
- 14.59
- Since Inception(12/18/2008)
- 15.02
Putnam Focused U.S. Research ETF - NAV Return (%)
Month End
As of 08/31/2026
- 1 Year
- 20.60
- 3 Years
- 22.17
- 5 Years
- 14.01
- 10 Years
- 14.59
- Since Inception(12/18/2008)
- 15.02
Linked S&P 500 Index (%)
Month End
As of 08/31/2026
- 1 Year
- 20.38
- 3 Years
- 21.04
- 5 Years
- 12.79
- 10 Years
- 14.32
- Since Inception(12/18/2008)
- 13.32
Prior to close of business on September 25, 2026, the ETF operated as an open-end mutual fund. The ETF has an identical investment goal and substantially similar investment strategies as the predecessor mutual fund. The NAV returns include returns of the Class R6 shares of the predecessor mutual fund prior to the ETF's commencement of operations. Prior to the ETF's listing on 9/28/2026, the NAV performance for the Class R6 shares of the predecessor mutual fund is used as a proxy for market price returns, which are typically calculated using the official closing price of the ETF. If the predecessor mutual fund had been structured as an exchange-traded fund, its performance may have differed. Returns for periods prior to inception of Class R6 shares are based on previous share classes. Returns for those shares were not adjusted for the lower operating expenses; had they been adjusted, performance would be higher.
Ratings 3
©2026 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 of09/29/2026 (Updated Daily)
- Total Net Assets
- $549.92 Million
Positions
As of 08/31/2026 (Updated Monthly)
Number of Issuers
- Fund
- 45
Portfolio Statistics
As of 08/31/2026 (Updated Monthly)
Price to Earnings (12-Month Forward)
- Fund
- 18.74x
- Fund
- 5.27x
- Fund
- $1,767.06 Billion
Sector Allocation
As of 08/31/2026 % of Total (Updated Monthly)
| Sector | % of Total |
|---|---|
Information Technology | 37.73% |
Financials | 14.47% |
Consumer Discretionary | 9.36% |
Health Care | 8.73% |
Communication Services | 8.25% |
Industrials | 7.52% |
Energy | 4.23% |
Consumer Staples | 3.35% |
Utilities | 2.39% |
Materials | 1.40% |
Real Estate | 1.23% |
Cash & Other Net Assets | 1.34% |
Holdings
As of 09/29/2026 (Updated Daily)
NVIDIA CORP
APPLE INC
MICROSOFT CORP
ALPHABET INC-CL A
AMAZON.COM INC
COCA-COLA CO/THE
META PLATFORMS INC-CLASS
ELI LILLY & CO
ADVANCED MICRO DEVICES
EXXONMOBIL HOLDINGS CORP
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
09/22/2026
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 09/29/2026 (Updated Daily)
Daily Fund Prices
As of 09/29/2026
Share Prices
As of 09/29/2026
52-Week Range
- Highest NAV
As of 08/13/2026 - $44.63
- Lowest NAV
As of 09/28/2026 - $33.03
- Highest Market Price
As of 09/29/2026 - $33.02
- Lowest Market Price
As of 09/28/2026 - $33.01
Premium / Discount
As of 09/29/2026
- 30-Day Median Bid/Ask Spread
- 0.06%
- Bid / Ask Spread
- $0.01
- Avg. of Market Price vs. NAV at Close
5 - -0.06%
Documents
Regulatory Documents
Prospectus - Putnam Focused U.S. Research ETF
Summary Prospectus - Putnam Focused U.S. Research ETF
Statement of Additional Information - Putnam Focused U.S. Research ETF
Risks
All investments involve risks, including possible loss of principal. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. 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 investment style may become out of favor, which may have a negative impact on performance. Short selling is a speculative strategy. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short. Active management does not ensure gains or protect against market declines. 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.
Franklin Distributors, LLC. Member FINRA / SIPC . Putnam Investments is a Franklin Templeton company. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
The Linked S&P 500 Index represents the performance of the MSCI World Industrials Index (NR) through June 23, 2019, and the performance of the S&P 500® Index thereafter. You cannot invest directly in an index.