PCTEX Performance — Putnam California Tax Exempt Income Fund, Class A
Data updated: 2025-12-12
PCTEX returned −0.41% over one year to Sep 2025. Annualised returns are +5.20% over 3 years and +0.76% over 5 years. Against its Long-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $116, against $114 for the category, and to $100 over one year, against $100. Volatility over the past three years was 7.62% a year. In the 12 months to Sep 2025 the fund lost a net $93.6M, and assets reached $636.51M.
PCTEX Growth of $100
What $100 invested in Putnam California Tax Exempt Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | PCTEX | Category average |
|---|---|---|
| 1 year (Oct 2024 – Sep 2025) | $100 | $100 |
| 3 years (Oct 2022 – Sep 2025) | $116 | $114 |
| 5 years (Oct 2020 – Sep 2025) | $104 | $103 |
| Since data start (Jul 2019 – Sep 2025) | $110 | $108 |
PCTEX Trailing Returns
Total returns to Sep 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | −0.41% |
| 3 years (annualised) | +5.20% |
| 5 years (annualised) | +0.76% |
PCTEX Annual Returns
Calendar-year total returns of Putnam California Tax Exempt Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 (Jan–Sep) | +1.09% |
| 2024 | +2.63% |
| 2023 | +7.20% |
| 2022 | −10.47% |
| 2021 | +1.86% |
| 2020 | +5.46% |
| 2019 (Jul–Dec) | +2.60% |
PCTEX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | −1.9% | +1.2% | +0.1% | −1.2% | −0.7% | +0.6% | −0.8% | +0.8% | +3.1% | — | — | — |
| 2024 | +0.1% | +0.3% | 0.0% | +2.0% | +0.4% | −1.4% | +1.1% | +0.8% | +0.8% | −1.6% | +1.8% | −1.6% |
| 2023 | +1.7% | −2.5% | +3.6% | +1.1% | −0.7% | 0.0% | −3.2% | −1.3% | +0.2% | +3.0% | +7.4% | −1.8% |
| 2022 | −3.2% | −0.6% | −2.8% | −2.5% | +1.5% | −3.6% | −4.9% | −2.2% | +3.2% | 0.0% | +6.0% | −1.2% |
| 2021 | +0.8% | −1.6% | +0.8% | +0.4% | +0.4% | +1.1% | −1.0% | −0.4% | +0.8% | +0.2% | +0.8% | −0.3% |
| 2020 | −5.4% | +1.5% | +2.0% | +1.6% | +3.6% | −1.7% | +0.1% | −0.4% | +1.9% | +0.7% | +1.9% | −0.2% |
| 2019 | — | — | — | — | — | — | −0.5% | +1.9% | +0.7% | +0.3% | +0.2% | 0.0% |
PCTEX Risk
Risk measures from monthly returns over Oct 2022 – Sep 2025.
- 3-year volatility (annualised): 7.62%
- 3-year Sharpe ratio: 0.09 (vs 4.5% risk-free rate)
- Best month: +7.42% (Nov 2023)
- Worst month: −3.25% (Jul 2023)
PCTEX Fund Flows
Monthly money in and out of Putnam California Tax Exempt Income Fund, from SEC Form N-PORT.
- 12-month net flow: −$93.6M
- 12-month gross sales (incl. reinvestments): $80.9M
- Sales ÷ redemptions: 0.46×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Sep 2025 | $4.8M | $19.8M | −$15.0M |
| Aug 2025 | $7.0M | $27.8M | −$20.8M |
| Jul 2025 | $4.6M | $18.4M | −$13.9M |
| Jun 2025 | $7.6M | $10.4M | −$2.8M |
| May 2025 | $5.8M | $8.6M | −$2.8M |
| Apr 2025 | $8.7M | $11.8M | −$3.1M |
| Mar 2025 | $5.6M | $11.9M | −$6.2M |
| Feb 2025 | $4.6M | $9.4M | −$4.9M |
| Jan 2025 | $4.9M | $10.0M | −$5.1M |
| Dec 2024 | $7.6M | $17.0M | −$9.3M |
| Nov 2024 | $6.8M | $11.8M | −$5.0M |
| Oct 2024 | $13.0M | $17.6M | −$4.6M |
PCTEX Assets Under Management
Net assets of Putnam California Tax Exempt Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-09-30 | $636.51M |
| 2025-06-30 | $673.09M |
| 2025-03-31 | $697.07M |
| 2024-12-31 | $723.57M |
| 2024-09-30 | $759.81M |
| 2024-06-30 | $759.34M |
| 2024-03-31 | $779.01M |
| 2023-12-31 | $799.19M |
| 2023-09-30 | $753.03M |
| 2023-06-30 | $799.09M |
| 2023-03-31 | $820.20M |
| 2022-12-31 | $821.57M |
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.