C000123516 Fees and Costs — Putnam Short-Term Municipal Income Fund, Class A
Data updated: 2025-10-27
The net expense ratio is 0.61%: a 0.27% management fee, a 0.25% 12b-1 fee plus 0.20% other expenses, less a 0.11% fee waiver. This share class carries a maximum front-end sales load of 2.25% and a deferred sales charge of up to 1.00%. In fiscal 2024 the fund paid $191 in broker commissions, 0.0001% of average net assets, and portfolio turnover was 38%.
C000123516 Fees and Expenses
Annual operating expenses and sales charges of C000123516. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.27% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.20% |
| Gross expense ratio | 0.72% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.61% |
| Sales charges | |
|---|---|
| Max front load | 2.25% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
C000123516 Costs Over Time
On $10,000 invested in C000123516, assuming 5% a year before costs, total costs come to $663 over 5 years, cutting the return by 1.11% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $327 | $225 | $225 |
| Fund expenses (net expense ratio 0.61%) | $63 | $196 | $342 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $11 | $45 | $97 |
| Total costs | $401 | $466 | $663 |
| Value after costs | $10,099 | $11,110 | $12,100 |
| Impact on return, per year | 4.01% | 1.43% | 1.11% |
C000123516 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $191
- Bought from dealers (principal trades, not a cost): $96.8M
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
C000123516 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMS - J.P. MORGAN SECURITIES, LLC. | $191 | 100.00% |
C000123516 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MLCO - BofA Securities, Inc. | $15.9M | 23.60% |
| RBCD - RBC CAPITAL MARKETS LLC | $11.8M | 17.43% |
| RAJA - RAYMOND JAMES & ASSOCIATES, INC. | $7.7M | 11.36% |
| BCAP - BARCLAYS CAPITAL, INC. | $6.6M | 9.78% |
| MSRO - MESIROW FINANCIAL, INC. | $5.2M | 7.64% |
| KYBK - KEY BANK N.A. | $4.3M | 6.33% |
| JPMS - J.P. MORGAN SECURITIES, LLC. | $4.2M | 6.16% |
| MSCO - MORGAN STANLEY & CO. LLC | $4.1M | 6.11% |
| GSCO - GOLDMAN SACHS & CO LLC | $4.1M | 6.07% |
| PIPR - PIPER SANDLER | $3.7M | 5.52% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.