PGVRX Fees and Costs — Putnam Mortgage Securities Fund, CL R
Data updated: 2026-08-27
The net expense ratio is 1.17%: a 0.37% management fee, a 0.50% 12b-1 fee plus 0.30% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $11K in broker commissions, 0.0027% of average net assets, and portfolio turnover was 1013%.
PGVRX Fees and Expenses
Annual operating expenses and sales charges of PGVRX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.17% |
| Fee waiver | — |
| Net expense ratio | 1.17% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PGVRX Costs Over Time
On $10,000 invested in PGVRX, assuming 5% a year before costs, total costs come to $731 over 5 years, cutting the return by 1.23% 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 1.17%) | $123 | $383 | $662 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $123 | $403 | $731 |
| Value after costs | $10,377 | $11,174 | $12,032 |
| Impact on return, per year | 1.23% | 1.23% | 1.23% |
PGVRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0027%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $85.3B
- Portfolio turnover (prospectus): 1013%
- Securities lending: none during the year
PGVRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $11K | 100.00% |
PGVRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $27.1B | 31.77% |
| Citigroup Global Markets Inc. | $11.7B | 13.73% |
| Goldman Sachs & Co. LLC | $11.3B | 13.26% |
| Wells Fargo Securities, LLC | $10.6B | 12.40% |
| Morgan Stanley & Co. LLC | $9.5B | 11.13% |
| BofA Securities, Inc. | $5.7B | 6.69% |
| Mizuho Securities USA LLC | $4.9B | 5.72% |
| Barclays Capital, Inc. | $4.1B | 4.76% |
| Daiwa Capital Markets America Inc. | $375.6M | 0.44% |
| BMO Capital Markets Corp. | $74.6M | 0.09% |
Putnam Mortgage Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000200295 | CL R6 | 0.51% | none |
| PUSYX | CL Y | 0.67% | none |
| PGSIX | CL A | 0.92% | 4.00% |
| PGVRX | CL R | 1.17% | none |
| PGVCX | CL C | 1.67% | none |
| PGSBX | CL B | 1.72% | 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.