Fund Evaluator:
Putnam Sustainable Leaders Y (PNOYX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
Putnam Sustainable Leaders Y Overview
Putnam Sustainable Leaders Y (PNOYX) is an actively managed U.S. Equity Large Growth fund. Franklin Templeton Investments launched the fund in 1994.
The investment seeks long-term capital appreciation. The fund mainly invests in common stocks of U.S. companies of any size, with a focus on companies that the advisor believes exhibit a commitment to financially material sustainable business practices. The advisor considers, among other factors, a company's sustainable business practices, valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments.
About Putnam Sustainable Leaders Y (PNOYX)
There are 2 members of the management team with an average tenure of 4.94 years: Stephanie Dobson (2018), Rob Forker (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. Putnam Sustainable Leaders Y has 71 securities in its portfolio. The top 10 holdings constitute 41.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Putnam Sustainable Leaders Y is part of the Equity global asset class and is within the U.S. Equity fund group. Putnam Sustainable Leaders Y has 3.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.6%. There is 3.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Putnam Sustainable Leaders Y has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $748 million in total assets, which is below the $2 billion average for the Large Growth 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.
PNOYX 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 Sustainable Leaders Y expense ratio is above average compared to funds in the Large Growth category. Putnam Sustainable Leaders Y has an expense ratio of 0.63%, which is 34% lower than its category average, making the fund expense ratio grade a A. 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 Sustainable Leaders Y has a portfolio turnover rate of 44%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, Putnam Sustainable Leaders Y returned -0.2%, which earned it a grade of A, as the Large Growth category had an average return of -3.1%. 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 Sustainable Leaders Y has a trailing yield of 0.00%, which is below the 0.06% 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 Sustainable Leaders Y Grades
Year to date, the fund has returned 4.1%, 0.3 percentage points better than the category, which translates into a grade of C. The fund has returned 12.5% over the past year (grade of B), 15.2% over the past three years (grade of D) and 7.9% per year over the past five years (grade of D) and 14.9% per year over the past 10 years (grade of D).
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PNOYX 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 |
|
| PNOYX Return (NAV) | -0.2% | 3.5% | 12.5% | 15.2% | 7.9% | 14.9% |
| PNOYX Grade | A | B | B | D | D | D |
| +/- Category | 2.9% | 1.8% | 3.5% | -2.8% | -0.8% | -0.5% |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| PNOYX Tax Cost Ratio | na | na | 2.1% | 1.6% | 1.8% | 1.8% |
PNOYX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PNOYX Return (NAV) | 4.1% | 11.2% | 23.3% | 26.6% | -22.6% | 23.6% | 28.8% | 36.2% | -0.7% | 29.4% | 7.9% |
| PNOYX Grade | C | F | F | F | A | B | F | B | C | C | A |
| +/- Category | 0.3% | -4.6% | -6.3% | -12.3% | 9.5% | 3.2% | -13.5% | 3.0% | 0.0% | -0.4% | 5.2% |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 14.9% |
| Total Risk Index: | 1.21 - Above Average |
| Category Risk Index: | 0.84 - Low |
| Category Risk Grade: | A (15% Rank) |
| Beta: | 1.10 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $6591 Mil |
| Fund Total Assets: | $ 749 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 44% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.4 years | |||
| Average Tenure: 4.9 years | |||
| Managers (Year): Dobson Stephanie (2018), Forker Rob (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 71 |
| % in Top 10 Holdings: | 41.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.6% |
Portfolio Allocation |
|
| Domestic Stock: | 93.6% |
| Foreign Stock: | 3.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 2.6% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-225-1581 |
| Website: | www.putnam.com |
| Status: | Open |
| Inception Date: | July 19, 1994 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.63% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Putnam Sustainable Leaders A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
