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Morningstar

Putnam Mortgage Securities B PGSBX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
  • NAV / 1-Day Return 8.37  /  +0.72 %
  • Total Assets 413.1 Mil
  • Adj. Expense Ratio
    1.720%
  • Expense Ratio 1.720%
  • Distribution Fee Level High
  • Share Class Type —
  • Category Intermediate Core-Plus Bond
  • Credit Quality / Interest Rate Sensitivity High/Moderate
  • Min. Initial Investment —
  • Status Closed
  • TTM Yield 8.36%
  • Effective Duration 5.92 years

USD | NAV as of Apr 17, 2024 | 1-Day Return as of Apr 17, 2024, 10:22 PM GMT+0

Morningstar’s Analysis PGSBX

Will PGSBX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PGSBX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PGSBX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PGSBX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Too aggressive to recommend.

Senior Analyst Mike Mulach

Mike Mulach

Senior Analyst

Summary

Putnam Mortgage Securities’ complex approach and emphasis on lower-rated mortgage credit has not served investors well. Its Process rating has been downgraded to Below Average from Average, but its experienced team still earns an Average People rating.

by Mike Mulach
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings PGSBX

More PGSBX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 67.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Federal National Mortgage Association 2%

19.38 81.5 Mil
Securitized

Federal National Mortgage Association 6%

15.70 66.0 Mil
Securitized

Federal National Mortgage Association 2.5%

13.96 58.7 Mil
Securitized

Federal National Mortgage Association 5.5%

12.31 51.8 Mil
Securitized

Federal National Mortgage Association 3.5%

7.02 29.5 Mil
Securitized

Federal National Mortgage Association 3%

6.75 28.4 Mil
Securitized

Federal National Mortgage Association 5%

6.27 26.4 Mil
Securitized

Government National Mortgage Association 2.5%

4.86 20.4 Mil
Securitized

Government National Mortgage Association 2%

4.48 18.8 Mil
Securitized

Federal National Mortgage Association 4%

4.40 18.5 Mil
Securitized