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Morningstar

Putnam NY Tax Exempt Income C PNNCX

Morningstar Analyst Rating
Quantitative rating as of | See Putnam Investment Hub
  • NAV / 1-Day Return 7.95  /  0.24 %
  • Total Assets 829.3 Mil
  • Adj. Expense Ratio
    1.530%
  • Expense Ratio 1.520%
  • Distribution Fee Level Average
  • Share Class Type Level Load
  • Category Muni New York Long
  • Credit Quality / Interest Rate Sensitivity Medium / Extensive
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 1.88%
  • Effective Duration 9.47 years

USD | NAV as of Feb 07, 2023 | 1-Day Return as of Feb 07, 2023, 11:20 PM GMT+00:00

Morningstar’s Analysis PNNCX

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

People Pillar

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

Summary

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Putnam NY Tax Exempt Income C's Average Process and People Pillar ratings aren't enough to prevent other weaknesses from sending this strategy to a Morningstar Quantitative Rating of Negative. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the most expensive quintile among peers.

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