PHYLX Putnam High Yield Fund
- Income-focused. The portfolio managers strive for a higher level of income than most bonds offer by investing in higher-yielding, lower-rated corporate bonds.
- Focus on performance. The managers can invest across a range of industries and companies, and can adjust the fund's holdings to capitalize on market opportunities.
- Leading research. The fund's managers, supported by Putnam's fixed income research division, analyze a range of bonds to build a diversified portfolio.
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks high current income with capital growth as a secondary goal when consistent with achieving high current income. The portfolio managers invest in higher-yielding, lower-rated corporate bonds across a range of industries and companies.
- Benchmark
- JPMorgan Developed High Yield Index
- Dividend Frequency, if any
- Monthly
- Fund Inception Date
- 03/25/1986
- Distribution Rate at NAV
As of 06/09/2026 (Updated Daily) - 5.66%
- 30-Day SEC Yield—With Waiver
As of 05/31/2026 (Updated Monthly) - 4.83%
- 30-Day SEC Yield—Without Waiver
As of 05/31/2026 (Updated Monthly) - 4.83%
- Effective Duration
As of 05/31/2026 (Updated Monthly) - 2.74 Years
Sales Charges, Expenses & Fees
- Gross Expense Ratio
- 1.74%
- Net Expense Ratio
- 1.74%
- Maximum Initial Charge
- —
- CDSC
- 1.00%
- 12b-1 Fee
- 1.00%
Identifiers
- Ticker
- PHYLX
- Fund Number
- 419
- CUSIP Code
- 74678J500
Top Sectors
As of 05/31/2026 - Notional Exposure % of Total (Updated Monthly)
Consumer Cyclicals19.57% | |
Financial13.84% | |
Communication Services10.79% | |
Energy9.73% | |
Health Care8.68% |
Additional Fund Info
- Share Class Inception Date
- 03/30/2007
- Investment Style
- High Yield
- Lipper Classification
- High Yield Funds
- Morningstar Category
- High Yield Bond
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.