Putnam Tax Free High Yield Fund
Data updated: 2025-10-10
C000010824 — Putnam Tax Free High Yield Fund. Long Corporate Bond · $624.43M AUM · 1.09% expense ratio. Holdings, fees, performance and SEC filings.
C000010824 Fund Overview
Putnam Tax Free High Yield Fund is a US mutual fund managed by Putnam Tax Free Income Trust, categorised as Long Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Putnam Tax Free Income Trust
- Category: Long Corporate Bond
- Assets under management: $624.43M
- SEC CIK: 0000771951
- SEC series ID: S000003861
- Share class ID: C000010824
C000010824 Investment Objective and Strategy
Putnam Tax Free High Yield Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Putnam Tax Free Income Trust.
Investment objective
Putnam Tax-Free High Yield Fund seeks high current income exempt from federal income tax.
Principal investment strategy
Investments We invest mainly in bonds that pay interest that is exempt from federal income tax (but that may be subject to federal alternative minimum tax (AMT)), are a combination of below-investment-grade and investment-grade securities, and have intermediate- to long-term maturities (i.e., three years or longer). Under normal circumstances, we invest at least 80% of the funds net assets in tax-exempt investments. This investment policy cannot be changed without the approval of the funds shareholders. Such tax-exempt investments in which the fund will invest are issued by or for states, territories or possessions of the United States or by their political subdivisions, agencies, authorities or other government entities, and the income from these investments is exempt from federal income tax.
We may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments.
C000010824 Holdings
Top 10 holdings of Putnam Tax Free High Yield Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| New York City Transitional Finance Authority | 2.11% |
| Port of Portland OR Airport Revenue | 2.09% |
| Buckeye Tobacco Settlement Financing Authority | 1.26% |
| Alaska Industrial Development & Export Authority | 1.21% |
| New York State Thruway Authority | 1.17% |
| City of Chicago IL | 1.09% |
| Orange County Health Facilities Authority | 1.02% |
| Clifton Higher Education Finance Corp. | 0.96% |
| New York Transportation Development Corp. | 0.91% |
| St Louis County Industrial Development Authority | 0.88% |
C000010824 Portfolio Allocation
Asset-class allocation of Putnam Tax Free High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 104.1% |
| Cash & Equivalents | 0.2% |
C000010824 Costs and Fees
C000010824 costs about $109 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.09%
- Gross expense ratio: 1.09%
- Portfolio turnover: 25%
- Brokerage commissions: 0.04 bps of average net assets (SEC N-CEN)
C000010824 Cashflows
Over the 12 months to 2025-07, Putnam Tax Free High Yield Fund had net outflows of $22.91M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-07 | −$5.46M |
| 2025-06 | −$4.17M |
| 2025-05 | −$12.90M |
| 2025-04 | $7.51M |
| 2025-03 | −$2.56M |
| 2025-02 | −$380.09K |
C000010824 Debt Constituents
Largest debt holdings of Putnam Tax Free High Yield Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| New York City Transitional Finance Authority | 2.11% |
| Port of Portland OR Airport Revenue | 2.09% |
| Buckeye Tobacco Settlement Financing Authority | 1.26% |
| Alaska Industrial Development & Export Authority | 1.21% |
| New York State Thruway Authority | 1.17% |
| City of Chicago IL | 1.09% |
| Orange County Health Facilities Authority | 1.02% |
| Clifton Higher Education Finance Corp. | 0.96% |
| New York Transportation Development Corp. | 0.91% |
| St Louis County Industrial Development Authority | 0.88% |
C000010824 Prospectus and SEC Filings
Official Putnam Tax Free High Yield Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-11-26
- Prospectus (485BPOS) — filed 2023-11-27
- Prospectus (485BPOS) — filed 2022-11-25
- Portfolio holdings (N-PORT) — filed 2025-09-23
- Portfolio holdings (N-PORT) — filed 2025-06-24
- Portfolio holdings (N-PORT) — filed 2025-03-31
- Annual census (N-CEN) — filed 2025-10-10
- Annual census (N-CEN) — filed 2023-10-04
Related Funds
Other Long Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.