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Morningstar

Putnam CA Tax Exempt Income A PCTEX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 7.35  /  0.01 %
  • Total Assets 821.6 Mil
  • Adj. Expense Ratio
    0.770%
  • Expense Ratio 0.760%
  • Distribution Fee Level Average
  • Share Class Type Front Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 2.64%
  • Effective Duration 8.94 years

USD | NAV as of Jan 26, 2023 | 1-Day Return as of Jan 26, 2023, 11:14 PM GMT+00:00

Morningstar’s Analysis PCTEX

Will PCTEX 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 PCTEX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the PCTEX 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 PCTEX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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Putnam CA Tax Exempt Income A's Average People Pillar and Process Pillar ratings hold this strategy's Morningstar Quantitative Rating of Neutral. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-highest quintile among peers.

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