PTEPX Fees and Costs — Putnam Pennsylvania Tax Exempt Income Fund, CL A
Data updated: 2025-10-27
The net expense ratio is 0.86%: a 0.42% management fee, a 0.25% 12b-1 fee plus 0.19% other expenses. This share class carries a maximum front-end sales load of 4.00% and a deferred sales charge of up to 1.00%. In fiscal 2025 the fund paid $114 in broker commissions, 0.0001% of average net assets, and portfolio turnover was 11%.
PTEPX Fees and Expenses
Annual operating expenses and sales charges of PTEPX. Prospectus, as of May 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.19% |
| Gross expense ratio | 0.86% |
| Fee waiver | — |
| Net expense ratio | 0.86% |
| Sales charges | |
|---|---|
| Max front load | 4.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PTEPX Costs Over Time
On $10,000 invested in PTEPX, assuming 5% a year before costs, total costs come to $1,028 over 5 years, cutting the return by 1.75% 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 | $500 | $400 | $400 |
| Fund expenses (net expense ratio 0.86%) | $87 | $271 | $470 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $20 | $76 | $158 |
| Total costs | $607 | $747 | $1,028 |
| Value after costs | $9,893 | $10,829 | $11,734 |
| Impact on return, per year | 6.07% | 2.31% | 1.75% |
PTEPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $114
- Bought from dealers (principal trades, not a cost): $76.2M
- Portfolio turnover (prospectus): 11%
- Securities lending: none during the year
PTEPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $85 | 74.43% |
| Citigroup Global Markets Inc. | $29 | 25.57% |
PTEPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO Capital Markets Corp. | $7.5M | 16.68% |
| RBC Capital Markets, LLC | $7.4M | 16.43% |
| Janney Montgomery Scott LLC | $6.4M | 14.29% |
| Morgan Stanley & Co. LLC | $4.5M | 9.87% |
| B. C. Ziegler and Company | $3.7M | 8.22% |
| Stifel, Nicolaus & Company, Incorporated | $3.3M | 7.38% |
| Piper Sandler & Co. | $3.2M | 7.14% |
| Wells Fargo Securities, LLC | $3.1M | 6.98% |
| Truist Securities, Inc. | $3.0M | 6.69% |
| Samuel A. Ramirez & Company, Inc. | $2.9M | 6.32% |
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.