Putnam Short-Term Municipal Income Fund
Data updated: 2025-10-27
C000123520 — Putnam Short-Term Municipal Income Fund. Intermediate Municipal - National Bond · $179.61M AUM. Holdings, fees, performance and SEC filings.
C000123520 Fund Overview
Putnam Short-Term Municipal Income Fund is a US mutual fund managed by Putnam Funds Trust, categorised as Intermediate Municipal - National 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 Funds Trust
- Category: Intermediate Municipal - National Bond
- Assets under management: $179.61M
- 1-year return: 3.4%
- SEC CIK: 0001005942
- SEC series ID: S000039833
- Share class ID: C000123520
C000123520 Investment Objective and Strategy
Putnam Short-Term Municipal Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Putnam Funds Trust.
Investment objective
Putnam Short-Term Municipal Income Fund seeks as high a level of current income exempt from federal income tax as we believe is consistent with preservation of capital.
Principal investment strategy
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)), and that have short-term maturities (i.e., three years or less). The bonds we invest in are mainly investment-grade in quality. Under normal circumstances, we invest at least 80% of the fund’s net assets in tax-exempt investments, which for purposes of this policy include investments paying interest subject to the federal AMT for individuals. This investment policy cannot be changed without the approval of the fund’s shareholders. 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.
C000123520 Holdings
Top 10 holdings of Putnam Short-Term Municipal Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Putnam Funds Trust | 3.34% |
| University of Arizona (The) | 1.84% |
| Polk County Housing Finance Authority | 1.68% |
| Knoxville's Community Development Corp. | 1.68% |
| Cumberland County Industrial Facilities & Pollution Control Financing Authority | 1.67% |
| City of Dallas Housing Finance Corp. | 1.54% |
| El Paso Independent School District | 1.40% |
| California Housing Finance Agency | 1.40% |
| King County Housing Authority | 1.39% |
| Water Works Board of the City of Birmingham (The) | 1.39% |
C000123520 Portfolio Allocation
Asset-class allocation of Putnam Short-Term Municipal Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 96.7% |
| Other | 3.3% |
| Securitized | 0.7% |
C000123520 Performance
Total returns for C000123520 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 3.4% |
| 3 years (annualised) | 3.6% |
| 5 years (annualised) | 1.9% |
C000123520 Risk Information
Risk metrics for C000123520, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.3%
C000123520 Costs and Fees
C000123520 costs about $36 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.36%
- Gross expense ratio: 0.47%
- Portfolio turnover: 38%
- Brokerage commissions: 0.01 bps of average net assets (SEC N-CEN)
C000123520 Cashflows
Over the 12 months to 2025-08, Putnam Short-Term Municipal Income Fund had net inflows of $3.91M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-08 | −$3.13M |
| 2025-07 | $10.55M |
| 2025-06 | $896.84K |
| 2025-05 | $7.18M |
| 2025-04 | $3.17M |
| 2025-03 | $708.67K |
C000123520 Debt Constituents
Largest debt holdings of Putnam Short-Term Municipal Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| University of Arizona (The) | 1.84% |
| Polk County Housing Finance Authority | 1.68% |
| Knoxville's Community Development Corp. | 1.68% |
| Cumberland County Industrial Facilities & Pollution Control Financing Authority | 1.67% |
| City of Dallas Housing Finance Corp. | 1.54% |
| El Paso Independent School District | 1.40% |
| California Housing Finance Agency | 1.40% |
| King County Housing Authority | 1.39% |
| Water Works Board of the City of Birmingham (The) | 1.39% |
| Florida Housing Finance Corp. | 1.29% |
C000123520 Prospectus and SEC Filings
Official Putnam Short-Term Municipal Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-03-27
- Prospectus (485BPOS) — filed 2024-03-27
- Prospectus (485BPOS) — filed 2023-03-27
- Portfolio holdings (N-PORT) — filed 2025-10-27
- Portfolio holdings (N-PORT) — filed 2025-07-25
- Portfolio holdings (N-PORT) — filed 2025-04-29
- Annual census (N-CEN) — filed 2025-02-06
- Annual census (N-CEN) — filed 2024-01-31
Related Funds
Other Intermediate Municipal - National 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.