Active ETF

Putnam ESG Ultra Short ETF (Class A) (PULT)

Short duration securities selected for attractive income potential

NAV as of 02/21/24

$50.36

Market data all data below as of 02/21/24

Closing market price $50.33
30-day median bid-ask spread 0.02%
Day high $50.34
Day low $50.33
Premium/Discount -0.06%
30-day average trading volume 47,419
Net assets and outstanding shares Download CSV

How to buy Putnam ETFs

Putnam ETFs can be purchased and sold the same way you would buy or sell a stock — through most self-directed brokers or with the guidance of your advisor. Opening an online, self-directed brokerage account provides investors with:

  • Accessibility to a variety of investment products
  • Tools to help you build and optimize your portfolio
  • Flexibility and freedom of managing your investment portfolio
See available brokerages Learn about Putnam active ETFs

ETF facts as of 04/30/23

Ticker
PULT
Intraday NAV Ticker
PULTIV
CUSIP
746729854
Inception date
01/19/23
Total net assets
$125.54M
Total expense ratio
0.25%
Open to new investors
Category
Taxable Income
Turnover (fiscal year-end)
--
Dividend frequency (view rate)
Monthly
Number of issuers
111
Fiscal year-end
April

Objective

Putnam ESG Ultra Short ETF seeks as high a rate of current income as Putnam Management believes is consistent with preservation of capital and maintenance of liquidity.

Strategy and process

  • A broader opportunity setInvests in a diversified portfolio composed of short duration, investment-grade money market and other fixed income securities with the potential to offer higher income than other short-term investments
  • Active risk managementSeeks to manage risk with an active process in today's complex bond market, with the goal of attractive risk-adjusted performance over time
  • Integrated ESG approachIncorporates consideration of material environmental, social, and governance (ESG) issues that managers view as additive to the fundamental understanding of each issuer

Management team

Joanne M. Driscoll, CFA

Head of Short Term Liquid Markets

32 years in industry

29 years at Putnam Investments

See full profile

Andrew Benson

Portfolio Manager

16 years in industry

16 years at Putnam Investments

See full profile

Michael J. Lima, CFA

Portfolio Manager, Analyst

27 years in industry

27 years at Putnam Investments

See full profile

Literature

Fund information

Fact Sheet (PDF)

Legal documents

Prospectuses/SAI
Annual Report (PDF)
Semiannual Report (PDF)

Related/Investment insights

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A rising number of S&P 500 companies are now tying ESG metrics to executive pay. Explore insights on how this impacts corporate goals and investment opportunities.

ESG Metrics | Impact report of sustainable investing strategies
Putnam Investments is pleased to share our 2023 Sustainability and Impact Report.


Performance

  • Total return (%) as of 12/31/23

Cumulative Total return (%) as of 12/31/23

Cumulative performance 1 yr. 3 yrs. 5 yrs. Life
Net asset value -- -- -- 5.44%
Market price -- -- -- 5.53%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns for periods of less than one year are not annualized. Market performance is determined using the bid/ask midpoint at 4:00 p.m. Eastern time. Market performance does not represent the returns you would receive if you traded shares at other times throughout the day.

Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

The fund has limited public trading history.

 

Performance snapshot

  Net asset value Market price
1 mt. as of 01/31/24 0.60% 0.45%
YTD as of 02/21/24 0.80% 0.67%

Fixed income statistics as of 04/30/23

Average effective duration 0.36 yrs.

Yield

Distribution rate as of 02/21/2024 5.94%
30-day SEC yield as of 01/31/2024 5.40%

Distributions

Record date 02/07/24
Ex-date 02/06/24
Payable date 02/09/24
Income $0.2491
Extra income --
Short-term cap. gain --
Long-term cap. gain --

Historical premium/discount

Number of days at premium --
Number of days at NAV --
Number of days at discount --

Holdings

Portfolio holdings

Full portfolio holdings Download XLSX

Fixed Income Statistics as of 04/30/23

Average Effective Maturity 0.90 yrs.
Average Effective Duration 0.36 yrs.
Average Yield to Maturity 5.42%
Average Coupon 3.43
AMT Exposure --

Country allocation as of 04/30/23

United States 57.84%
Canada 9.94%
United Kingdom 5.86%
Japan 5.23%
France 4.97%
Australia 4.03%
Sweden 2.50%
Netherlands 2.36%
Italy 1.37%
 
Other
5.90%
Germany 1.02%
Switzerland 1.01%
Finland 0.96%
Ireland 0.93%
Spain 0.66%
Norway 0.59%
South Korea 0.58%
Net cash 0.15%

Quality rating as of 04/30/23

A-1+ 1.20%
A-1 5.28%
A-2 18.58%
A-3 4.55%
AAA 0.02%
AA 20.99%
A 35.83%
BBB 13.40%
Net cash 0.15%

The ICE BofA U.S. Treasury Bill Index is an unmanaged index that tracks the performance of U.S. dollar denominated U.S. Treasury Bills publicly issued in the U.S. domestic market. Qualifying securities must have a remaining term of at least one month to final maturity and a minimum amount outstanding of $1 billion. You cannot invest directly in an index.

Consider these risks before investing: Putnam Ultra Short ETF is not a money market fund. Investing with a focus on companies or issuers that exhibit a commitment to ESG factors may result in the fund investing in certain types of companies or issuers that underperform the market as a whole. In evaluating an investment opportunity, we may make investment decisions based on information and data that is incomplete or inaccurate. Due to changes in the products or services of the companies and issuers in which the fund invests, the fund may temporarily hold securities that are inconsistent with its ESG investment criteria.

Fixed-income investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally greater for below-investment-grade bonds. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. Lower-rated bonds may offer higher yields in return for more risk. Unlike bonds, funds that invest in bonds have fees and expenses.

The value of investments in the fund's portfolio may fall or fail to rise over time for a variety of reasons, including general economic, political, or financial market conditions; investor sentiment and market perceptions; government actions; geopolitical events or changes; and factors related to a specific issuer, geography, industry, or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. You can lose money by investing in the fund.

Credit qualities are shown as a percentage of net assets as of the date indicated above. A bond rated BBB or higher (A-3/SP-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor’s, Moody’s, and Fitch. Ratings may vary over time. Net cash, if any, represent the market value weights of cash and derivatives and may show a negative market value as a result of the timing of trade versus settlement date transactions. The fund itself has not been rated by an independent rating agency.