PSLBX Fees and Costs — Putnam Small Cap Value Fund, CL B
Data updated: 2026-07-27
The net expense ratio is 1.93%: a 0.62% management fee, a 1.00% 12b-1 fee plus 0.31% other expenses. This share class carries a deferred sales charge of up to 5.00%. In fiscal 2026 the fund paid $1.5M in broker commissions, 0.5701% of average net assets, and portfolio turnover was 100%.
PSLBX Fees and Expenses
Annual operating expenses and sales charges of PSLBX. Prospectus, as of June 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.62% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.31% |
| Gross expense ratio | 1.93% |
| Fee waiver | — |
| Net expense ratio | 1.93% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 5.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PSLBX Costs Over Time
On $10,000 invested in PSLBX, assuming 5% a year before costs, total costs come to $1,518 over 5 years, cutting the return by 2.63% 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 |
| Sales charges | $512 | $0 | $0 |
| Fund expenses (net expense ratio 1.93%) | $203 | $623 | $1,063 |
| Trading costs (broker commissions) | $60 | $184 | $314 |
| Lost growth on money paid in costs | $0 | $40 | $141 |
| Total costs | $774 | $847 | $1,518 |
| Value after costs | $9,726 | $10,730 | $11,245 |
| Impact on return, per year | 7.74% | 2.63% | 2.63% |
PSLBX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.5701%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $30.5M
- Portfolio turnover (prospectus): 100%
- Securities on loan, average value: $19.4M
- Net income from securities lending: $140K (0.053% of average net assets)
PSLBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Raymond James & Associates, Inc. | $270K | 21.70% |
| Jefferies LLC | $185K | 14.87% |
| Barclays Capital, Inc. | $182K | 14.59% |
| J.P. Morgan Securities LLC | $145K | 11.64% |
| UBS Securities LLC | $105K | 8.46% |
| Stifel, Nicolaus & Company, Incorporated | $94K | 7.54% |
| Piper Sandler & Co. | $82K | 6.62% |
| William Blair & Company, L.L.C. | $80K | 6.40% |
| RBC Capital Markets, LLC | $60K | 4.83% |
| Citigroup Global Markets Inc. | $42K | 3.35% |
PSLBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $4.4M | 17.28% |
| Piper Sandler & Co. | $3.6M | 14.27% |
| Keefe, Bruyette & Woods, Inc. | $3.3M | 13.21% |
| J.P. Morgan Securities LLC | $2.8M | 10.94% |
| Stifel, Nicolaus & Company, Incorporated | $2.6M | 10.37% |
| Jefferies LLC | $2.3M | 9.25% |
| Evercore Group L.L.C. | $1.7M | 6.76% |
| Wedbush Securities Inc. | $1.7M | 6.75% |
| William Blair & Company, L.L.C. | $1.5M | 6.02% |
| ROBERT W. BAIRD & CO. INCORPORATED | $1.3M | 5.14% |
Putnam Small Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000135941 | Class R6 | 0.73% | none |
| PYSVX | Putnam Small Cap Value Class Y | 0.85% | none |
| PSLAX | CL A | 1.10% | 5.75% |
| C000049250 | Putnam Small Cap Value Class R | 1.35% | none |
| PSLCX | Putnam Small Cap Value Class C | 1.85% | none |
| PSLBX | CL B | 1.93% | 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.