PBAOX Performance — Putnam Retirement Advantage 2040 Fund, Class R
Data updated: 2026-07-27
PBAOX returned +7.62% year to date and +20.74% over one year to May 2026. Annualised returns are +17.90% over 3 years and +8.97% 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 $164, against $155 for the category, and to $121 over one year, against $121. Volatility over the past three years was 9.49% a year. In the 12 months to May 2026 the fund took in a net $6.7M, and assets reached $48.18M.
PBAOX Growth of $100
What $100 invested in Putnam Retirement Advantage 2040 Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Target-Date category average over the same months.
| Period | PBAOX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $121 | $121 |
| 3 years (Jun 2023 – May 2026) | $164 | $155 |
| 5 years (Jun 2021 – May 2026) | $154 | $144 |
| Since data start (Sep 2020 – May 2026) | $182 | $169 |
PBAOX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +7.62% |
| 1 year | +20.74% |
| 3 years (annualised) | +17.90% |
| 5 years (annualised) | +8.97% |
PBAOX Annual Returns
Calendar-year total returns of Putnam Retirement Advantage 2040 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +7.62% |
| 2025 | +13.43% |
| 2024 | +20.99% |
| 2023 | +15.59% |
| 2022 | −10.53% |
| 2021 | +11.67% |
| 2020 (Sep–Dec) | +6.60% |
PBAOX 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 | +1.8% | +0.8% | −4.0% | +6.1% | +3.0% | — | — | — | — | — | — | — |
| 2025 | +2.6% | −2.3% | −3.5% | +0.5% | +4.1% | +3.7% | +0.6% | +2.3% | +2.7% | +1.2% | +0.4% | +0.8% |
| 2024 | +1.5% | +4.6% | +4.0% | −3.1% | +3.3% | +2.3% | +1.5% | +2.0% | +4.0% | −1.7% | +1.4% | −0.3% |
| 2023 | +5.5% | −3.7% | −0.3% | +1.0% | +1.8% | −1.6% | +2.3% | +4.3% | +7.4% | −2.1% | −3.0% | +3.5% |
| 2022 | −4.3% | +2.8% | +0.4% | −6.9% | +1.1% | −3.0% | +6.2% | −7.4% | +5.4% | +4.9% | −7.2% | −1.8% |
| 2021 | −0.2% | +3.8% | +1.2% | +3.6% | +2.2% | +2.2% | +0.7% | +1.8% | −1.6% | +3.6% | −3.7% | −2.3% |
| 2020 | — | — | — | — | — | — | — | — | +9.2% | −1.9% | −2.6% | +2.2% |
PBAOX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 9.49%
- 3-year Sharpe ratio: 1.41 (vs 4.5% risk-free rate)
- Best month: +7.43% (Sep 2023)
- Worst month: −3.97% (Mar 2026)
PBAOX Fund Flows
Monthly money in and out of Putnam Retirement Advantage 2040 Fund, from SEC Form N-PORT.
- 12-month net flow: $6.7M
- 12-month gross sales (incl. reinvestments): $13.0M
- Sales ÷ redemptions: 2.07×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $367K | $164K | $204K |
| Apr 2026 | $740K | $655K | $85K |
| Mar 2026 | $881K | $330K | $552K |
| Feb 2026 | $1.9M | $225K | $1.6M |
| Jan 2026 | $911K | $351K | $560K |
| Dec 2025 | $5.3M | $298K | $5.0M |
| Nov 2025 | $331K | $124K | $206K |
| Oct 2025 | $429K | $489K | −$60K |
| Sep 2025 | $749K | $670K | $79K |
| Aug 2025 | $571K | $1.6M | −$1.0M |
| Jul 2025 | $504K | $1.2M | −$710K |
| Jun 2025 | $394K | $183K | $211K |
PBAOX Assets Under Management
Net assets of Putnam Retirement Advantage 2040 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $48.18M |
| 2026-02-28 | $44.98M |
| 2025-11-30 | $40.66M |
| 2025-08-31 | $38.65M |
| 2025-05-31 | $37.62M |
| 2025-02-28 | $33.20M |
| 2024-11-30 | $27.38M |
| 2024-08-31 | $23.43M |
| 2024-05-31 | $16.00M |
| 2024-02-29 | $13.29M |
| 2023-11-30 | $12.04M |
| 2023-08-31 | $10.52M |
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.