C000202929 Fees and Costs — Putnam Minnesota Tax Exempt Income Fund, CL R6
Data updated: 2025-10-27
The net expense ratio is 0.55%: a 0.42% management fee plus 0.13% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 6%.
C000202929 Fees and Expenses
Annual operating expenses and sales charges of C000202929. Prospectus, as of May 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
C000202929 Costs Over Time
On $10,000 invested in C000202929, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 |
| Fund expenses (net expense ratio 0.55%) | $58 | $181 | $315 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
C000202929 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $107.9M
- Portfolio turnover (prospectus): 6%
- Securities lending: none during the year
C000202929 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Piper Sandler & Co. | $11.4M | 15.62% |
| RBC Capital Markets, LLC | $8.9M | 12.25% |
| Siebert Williams Shank & Co., LLC | $8.5M | 11.67% |
| J.P. Morgan Securities LLC | $7.4M | 10.15% |
| Truist Securities, Inc. | $7.1M | 9.70% |
| Morgan Stanley & Co. LLC | $6.8M | 9.28% |
| UBS Securities LLC | $6.2M | 8.48% |
| BofA Securities, Inc. | $5.9M | 8.05% |
| Janney Montgomery Scott LLC | $5.6M | 7.69% |
| Barclays Capital, Inc. | $5.2M | 7.11% |
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.