PAFWX Performance — Putnam Retirement Advantage 2035 Fund, Class R3
Data updated: 2026-07-27
PAFWX returned +6.10% year to date and +17.55% over one year to May 2026. Annualised returns are +15.86% over 3 years and +7.94% over 5 years. Against its Target-Date category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $156, against $155 for the category, and to $118 over one year, against $121. Volatility over the past three years was 8.52% a year. In the 12 months to May 2026 the fund took in a net $6.6M, and assets reached $55.29M.
PAFWX Growth of $100
What $100 invested in Putnam Retirement Advantage 2035 Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Target-Date category average over the same months.
| Period | PAFWX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $118 | $121 |
| 3 years (Jun 2023 – May 2026) | $156 | $155 |
| 5 years (Jun 2021 – May 2026) | $147 | $144 |
| Since data start (Sep 2020 – May 2026) | $170 | $169 |
PAFWX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +6.10% |
| 1 year | +17.55% |
| 3 years (annualised) | +15.86% |
| 5 years (annualised) | +7.94% |
PAFWX Annual Returns
Calendar-year total returns of Putnam Retirement Advantage 2035 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +6.10% |
| 2025 | +11.37% |
| 2024 | +20.19% |
| 2023 | +14.08% |
| 2022 | −10.25% |
| 2021 | +10.82% |
| 2020 (Sep–Dec) | +5.56% |
PAFWX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.3% | +0.8% | −3.3% | +4.9% | +2.4% | — | — | — | — | — | — | — |
| 2025 | +2.3% | −2.3% | −3.1% | +0.5% | +3.3% | +3.3% | +0.5% | +2.0% | +2.4% | +1.0% | +0.6% | +0.6% |
| 2024 | +1.4% | +4.5% | +3.7% | −2.9% | +3.0% | +2.2% | +1.6% | +2.0% | +3.7% | −1.7% | +1.3% | 0.0% |
| 2023 | +5.1% | −3.2% | −0.3% | +1.0% | +1.8% | −1.2% | +1.9% | +3.8% | +7.0% | −1.9% | −2.9% | +2.9% |
| 2022 | −3.9% | +2.4% | +0.4% | −6.4% | +0.9% | −2.9% | +5.9% | −6.7% | +4.8% | +4.2% | −6.5% | −1.8% |
| 2021 | −0.2% | +3.4% | +1.2% | +3.3% | +1.9% | +1.9% | +0.8% | +1.8% | −1.3% | +3.1% | −3.3% | −2.1% |
| 2020 | — | — | — | — | — | — | — | — | +8.3% | −1.9% | −2.4% | +1.8% |
PAFWX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 8.52%
- 3-year Sharpe ratio: 1.33 (vs 4.5% risk-free rate)
- Best month: +6.98% (Sep 2023)
- Worst month: −3.34% (Mar 2026)
PAFWX Fund Flows
Monthly money in and out of Putnam Retirement Advantage 2035 Fund, from SEC Form N-PORT.
- 12-month net flow: $6.6M
- 12-month gross sales (incl. reinvestments): $15.6M
- Sales ÷ redemptions: 1.74×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $879K | $155K | $724K |
| Apr 2026 | $443K | $828K | −$385K |
| Mar 2026 | $1.0M | $1.1M | −$123K |
| Feb 2026 | $1.5M | $638K | $900K |
| Jan 2026 | $2.8M | $293K | $2.5M |
| Dec 2025 | $5.9M | $1.0M | $4.8M |
| Nov 2025 | $441K | $724K | −$283K |
| Oct 2025 | $520K | $181K | $339K |
| Sep 2025 | $648K | $294K | $354K |
| Aug 2025 | $765K | $1.6M | −$878K |
| Jul 2025 | $415K | $1.7M | −$1.3M |
| Jun 2025 | $292K | $367K | −$76K |
PAFWX Assets Under Management
Net assets of Putnam Retirement Advantage 2035 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $55.29M |
| 2026-02-28 | $52.97M |
| 2025-11-30 | $47.70M |
| 2025-08-31 | $45.42M |
| 2025-05-31 | $44.96M |
| 2025-02-28 | $40.10M |
| 2024-11-30 | $31.61M |
| 2024-08-31 | $27.62M |
| 2024-05-31 | $21.05M |
| 2024-02-29 | $17.00M |
| 2023-11-30 | $16.42M |
| 2023-08-31 | $16.09M |
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.