C000222439 Fees and Costs — Putnam Sustainable Retirement 2045 Fund, Class R5
Data updated: 2026-10-13
The net expense ratio is 0.68% (1.36% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $142K in broker commissions, 0.0411% of average net assets, and portfolio turnover was 19%.
C000222439 Fees and Expenses
Annual operating expenses and sales charges of C000222439. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.36% |
| Fee waiver | −0.68% |
| Net expense ratio | 0.68% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
C000222439 Costs Over Time
On $10,000 invested in C000222439, assuming 5% a year before costs, total costs come to $454 over 5 years, cutting the return by 0.76% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $4 | $14 | $23 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $76 | $249 | $454 |
| Value after costs | $10,424 | $11,328 | $12,309 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
C000222439 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0411%
- Total broker commissions: $142K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 19%
C000222439 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $44K | 31.08% |
| Goldman Sachs & Co. LLC | $38K | 26.81% |
| Mischler Financial Group, Inc. | $24K | 16.74% |
| Morgan Stanley & Co. LLC | $15K | 10.66% |
| Citadel Securities LLC | $14K | 10.06% |
| Flow Traders U.S. Institutional Trading LLC | $4K | 3.02% |
| Susquehanna Financial Group, LLLP | $2K | 1.11% |
| Old Mission Markets LLC | $652 | 0.46% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $106 | 0.07% |
Putnam Sustainable Retirement 2045 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000174676 | Class R6 | 0.58% | none |
| C000011158 | Class Y | 0.68% | none |
| C000222439 | Class R5 | 0.68% | none |
| C000222437 | Class R4 | 0.83% | none |
| C000011153 | Class A | 0.93% | 5.75% |
| C000222438 | Class R3 | 1.08% | none |
| C000011157 | Class R | 1.33% | none |
| C000011155 | Class C | 1.68% | none |
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.