PNORX Fees and Costs — Putnam Sustainable Leaders Fund, Class R
Data updated: 2026-09-10
The net expense ratio is 1.13%: a 0.47% management fee, a 0.50% 12b-1 fee plus 0.16% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2.2M in broker commissions, 0.0331% of average net assets, and portfolio turnover was 44%.
PNORX Fees and Expenses
Annual operating expenses and sales charges of PNORX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.16% |
| Gross expense ratio | 1.13% |
| Fee waiver | — |
| Net expense ratio | 1.13% |
| 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 |
PNORX Costs Over Time
On $10,000 invested in PNORX, assuming 5% a year before costs, total costs come to $725 over 5 years, cutting the return by 1.22% 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 1.13%) | $119 | $370 | $640 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $122 | $399 | $725 |
| Value after costs | $10,378 | $11,177 | $12,038 |
| Impact on return, per year | 1.22% | 1.22% | 1.22% |
PNORX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0331%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): $376.9M
- Portfolio turnover (prospectus): 44%
- Securities lending: none during the year
PNORX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $303K | 17.25% |
| UBS Securities LLC | $297K | 16.91% |
| Citigroup Global Markets Inc. | $264K | 15.03% |
| J.P. Morgan Securities LLC | $201K | 11.41% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $194K | 11.02% |
| RBC Capital Markets, LLC | $178K | 10.10% |
| TD SECURITIES (USA) LLC | $88K | 5.03% |
| Morgan Stanley & Co. LLC | $83K | 4.72% |
| Piper Sandler & Co. | $78K | 4.42% |
| BNP Paribas Securities Corp. | $72K | 4.10% |
PNORX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| HSBC Securities (USA) Inc. | $67.3M | 17.87% |
| Citigroup Global Markets Inc. | $59.2M | 15.71% |
| Wells Fargo Securities, LLC | $48.0M | 12.74% |
| Bank of Montreal | $47.6M | 12.64% |
| J.P. Morgan Securities LLC | $40.8M | 10.84% |
| BNP Paribas Securities Corp. | $36.8M | 9.77% |
| BofA Securities, Inc. | $36.6M | 9.71% |
| RBC Capital Markets, LLC | $19.2M | 5.10% |
| Goldman Sachs & Co. LLC | $13.8M | 3.66% |
| Deutsche Bank Securities Inc. | $7.4M | 1.96% |
Putnam Sustainable Leaders Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000202804 | Class R6 | 0.55% | none |
| PNOYX | Class Y | 0.63% | none |
| PNOPX | Class A | 0.88% | 5.75% |
| PNORX | Class R | 1.13% | none |
| PNOCX | Class C | 1.62% | 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.