Fund Evaluator:
Putnam Emerging Markets Equity C (PEMZX)
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Fund Details
Putnam Emerging Markets Equity C Overview
Putnam Emerging Markets Equity C (PEMZX) is an actively managed International Equity Diversified Emerging Mkts fund. Franklin Templeton Investments launched the fund in 2008.
The investment seeks long-term capital appreciation. The fund invests mainly in common stocks (growth or value stocks or both) of emerging market companies of any size that the advisor believes have favorable investment potential. Under normal circumstances, it invests at least 80% of the fund's net assets in equity securities of emerging market companies. The fund is non-diversified.
About Putnam Emerging Markets Equity C (PEMZX)
There are 1 members of the management team with an average tenure of 6.94 years: Brian Freiwald (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. Putnam Emerging Markets Equity C has 66 securities in its portfolio. The top 10 holdings constitute 52.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Putnam Emerging Markets Equity C is part of the Equity global asset class and is within the International Equity fund group. Putnam Emerging Markets Equity C has 96.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.4%. There is 96.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.1% (0.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Putnam Emerging Markets Equity C has -3.9% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $967 million average for the Diversified Emerging Mkts category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PEMZX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Putnam Emerging Markets Equity C expense ratio is high compared to funds in the Diversified Emerging Mkts category. Putnam Emerging Markets Equity C has an expense ratio of 2.04%, which is 77% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Putnam Emerging Markets Equity C has a portfolio turnover rate of 96%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, Putnam Emerging Markets Equity C returned -6.7%, which earned it a grade of D, as the Diversified Emerging Mkts category had an average return of -4.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Putnam Emerging Markets Equity C has a trailing yield of 0.00%, which is below the 1.72% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Putnam Emerging Markets Equity C Grades
Year to date, the fund has returned 19.3%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 35.1% over the past year (grade of C), 21.7% over the past three years (grade of A) and 6.9% per year over the past five years (grade of C) and 9.8% per year over the past 10 years (grade of B).
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PEMZX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PEMZX Return (NAV) | -6.7% | 2.3% | 35.1% | 21.7% | 6.9% | 9.8% |
| PEMZX Grade | D | C | C | A | C | B |
| +/- Category | -1.7% | -0.1% | -0.8% | 3.8% | 0.4% | 1.1% |
| Diversified Emerging Mkts Avg | -4.9% | 2.4% | 35.9% | 17.9% | 6.5% | 8.7% |
| PEMZX Tax Cost Ratio | na | na | 0.0% | 0.1% | 0.4% | 0.4% |
PEMZX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PEMZX Return (NAV) | 19.3% | 32.2% | 15.1% | 11.0% | -28.1% | -4.9% | 35.8% | 21.4% | -18.1% | 41.2% | 5.0% |
| PEMZX Grade | C | C | A | C | F | D | A | C | D | B | D |
| +/- Category | 0.2% | 0.8% | 8.8% | -1.1% | -5.5% | -4.7% | 14.2% | -0.5% | -1.7% | 4.6% | -3.6% |
| Diversified Emerging Mkts Avg | 19.1% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.6% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 15.5% |
| Total Risk Index: | 1.26 - Above Average |
| Category Risk Index: | 0.92 - Below Average |
| Category Risk Grade: | B (32% Rank) |
| Beta: | 0.95 |
| R-Squared: | 73% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $805 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 96% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 6.9 years | |||
| Average Tenure: 6.9 years | |||
| Managers (Year): Freiwald Brian (2019) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 66 |
| % in Top 10 Holdings: | 52.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 96.7% |
Portfolio Allocation |
|
| Domestic Stock: | 1.4% |
| Foreign Stock: | 96.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 5.8% |
| Cash: | -3.9% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-225-1581 |
| Website: | www.putnam.com |
| Status: | Open |
| Inception Date: | September 29, 2008 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.04% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.16% |
| Share Class: | Putnam Emerging Markets Equity Y |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
