PAGWX Performance — Putnam Retirement Advantage 2045 Fund, Class R5
Data updated: 2026-07-27
PAGWX returned +9.32% year to date and +24.43% over one year to May 2026. Annualised returns are +20.39% over 3 years and +10.67% over 5 years. The fund beat its Target-Date category average: $100 invested three years ago grew to $174, against $155 for the category, and to $124 over one year, against $121. Volatility over the past three years was 10.25% a year. In the 12 months to May 2026 the fund took in a net $6.1M, and assets reached $35.74M.
PAGWX Growth of $100
What $100 invested in Putnam Retirement Advantage 2045 Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Target-Date category average over the same months.
| Period | PAGWX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $124 | $121 |
| 3 years (Jun 2023 – May 2026) | $174 | $155 |
| 5 years (Jun 2021 – May 2026) | $166 | $144 |
| Since data start (Sep 2020 – May 2026) | $199 | $169 |
PAGWX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +9.32% |
| 1 year | +24.43% |
| 3 years (annualised) | +20.39% |
| 5 years (annualised) | +10.67% |
PAGWX Annual Returns
Calendar-year total returns of Putnam Retirement Advantage 2045 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +9.32% |
| 2025 | +15.79% |
| 2024 | +22.60% |
| 2023 | +17.71% |
| 2022 | −10.03% |
| 2021 | +13.10% |
| 2020 (Sep–Dec) | +7.23% |
PAGWX 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 | +2.2% | +0.9% | −4.4% | +7.2% | +3.4% | — | — | — | — | — | — | — |
| 2025 | +2.8% | −2.4% | −3.8% | +0.6% | +4.7% | +3.9% | +0.9% | +2.4% | +3.1% | +1.4% | +0.4% | +0.9% |
| 2024 | +1.6% | +4.8% | +4.5% | −3.1% | +3.5% | +2.4% | +1.5% | +2.1% | +4.1% | −1.7% | +1.5% | −0.3% |
| 2023 | +5.9% | −4.0% | −0.2% | +1.1% | +2.0% | −1.6% | +2.6% | +4.8% | +7.8% | −2.0% | −3.2% | +4.0% |
| 2022 | −4.5% | +3.1% | +0.4% | −7.1% | +1.5% | −3.0% | +6.6% | −7.8% | +5.9% | +5.5% | −7.5% | −1.9% |
| 2021 | −0.1% | +4.1% | +1.3% | +3.8% | +2.4% | +2.4% | +0.7% | +2.0% | −1.6% | +4.0% | −3.9% | −2.4% |
| 2020 | — | — | — | — | — | — | — | — | +9.7% | −1.9% | −2.8% | +2.5% |
PAGWX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 10.25%
- 3-year Sharpe ratio: 1.55 (vs 4.5% risk-free rate)
- Best month: +7.80% (Sep 2023)
- Worst month: −4.40% (Mar 2026)
PAGWX Fund Flows
Monthly money in and out of Putnam Retirement Advantage 2045 Fund, from SEC Form N-PORT.
- 12-month net flow: $6.1M
- 12-month gross sales (incl. reinvestments): $11.9M
- Sales ÷ redemptions: 2.07×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $618K | $597K | $21K |
| Apr 2026 | $453K | $215K | $238K |
| Mar 2026 | $1.3M | $170K | $1.1M |
| Feb 2026 | $701K | $480K | $221K |
| Jan 2026 | $1.7M | $219K | $1.5M |
| Dec 2025 | $4.0M | $242K | $3.8M |
| Nov 2025 | $748K | $202K | $547K |
| Oct 2025 | $735K | $372K | $363K |
| Sep 2025 | $421K | $767K | −$345K |
| Aug 2025 | $542K | $1.8M | −$1.3M |
| Jul 2025 | $349K | $330K | $20K |
| Jun 2025 | $331K | $328K | $3K |
PAGWX Assets Under Management
Net assets of Putnam Retirement Advantage 2045 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $35.74M |
| 2026-02-28 | $32.29M |
| 2025-11-30 | $28.76M |
| 2025-08-31 | $26.84M |
| 2025-05-31 | $26.18M |
| 2025-02-28 | $22.94M |
| 2024-11-30 | $18.80M |
| 2024-08-31 | $16.97M |
| 2024-05-31 | $13.46M |
| 2024-02-29 | $12.05M |
| 2023-11-30 | $10.78M |
| 2023-08-31 | $10.11M |
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.