Fund Evaluator:
Putnam Core Bond Fund R (PTRKX)
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Fund Details
Putnam Core Bond Fund R Overview
Putnam Core Bond Fund R (PTRKX) is an actively managed Taxable Bond Intermediate Core Bond fund. Franklin Templeton Investments launched the fund in 2008.
The investment seeks high current income consistent with what Putnam Management believes to be prudent risk. The fund invests mainly in a diversified portfolio of investment-grade fixed-income securities. It invests mainly in bonds of governments and private companies that are investment-grade in quality with intermediate- to long-term maturities (three years or longer). The fund may invest in below-investment-grade investments. Under normal circumstances, it will invest at least 80% of its net assets in bonds (bonds include any debt instrument, and may be represented by other investment instruments, including derivatives).
About Putnam Core Bond Fund R (PTRKX)
There are 5 members of the management team with an average tenure of 6.82 years: Michael Salm (2008), Patrick Klein (2024), Albert Chan (2017), Tina Chou (2024), Andrew Benson (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Putnam Core Bond Fund R has 963 securities in its portfolio. The top 10 holdings constitute 37.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Putnam Core Bond Fund R is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Putnam Core Bond Fund R has 6.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 115.2% (108.5% domestic bond, 6.7% foreign bond and 0.2% convertible bond). Putnam Core Bond Fund R has -18.6% of the portfolio in cash.
Assets Under Management
The fund has $10 million in total assets, which is below the $3 billion average for the Intermediate Core Bond 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.
PTRKX 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 Core Bond Fund R expense ratio is high compared to funds in the Intermediate Core Bond category. Putnam Core Bond Fund R has an expense ratio of 0.89%, which is 57% 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 Core Bond Fund R has a portfolio turnover rate of 389%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 151% for the Intermediate Core Bond category.
Recently, in the month of July 2026, Putnam Core Bond Fund R returned -1.4%, which earned it a grade of D, as the Intermediate Core Bond category had an average return of -1.3%. 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 Core Bond Fund R has a trailing yield of 3.87%, which is below the 4.04% category average. The fund normally distributes its income monthly 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 Core Bond Fund R Grades
Year to date, the fund has returned -0.9%, 0.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.3% over the past year (grade of D), 3.6% over the past three years (grade of C) and 1.8% per year over the past five years (grade of A) and 2.4% per year over the past 10 years (grade of A).
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PTRKX 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 |
|
| PTRKX Return (NAV) | -1.4% | -0.9% | 2.3% | 3.6% | 1.8% | 2.4% |
| PTRKX Grade | D | D | D | C | A | A |
| +/- Category | -0.1% | -0.1% | -0.2% | -0.1% | 2.3% | 1.0% |
| Intermediate Core Bond Avg | -1.3% | -0.8% | 2.5% | 3.7% | -0.5% | 1.4% |
| PTRKX Tax Cost Ratio | na | na | 1.5% | 1.6% | 1.8% | 1.7% |
PTRKX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PTRKX Return (NAV) | -0.9% | 6.8% | 1.8% | 4.3% | -0.8% | -4.1% | 0.3% | 8.8% | 0.3% | 5.0% | 1.8% |
| PTRKX Grade | D | D | B | F | A | F | F | B | A | A | F |
| +/- Category | -0.1% | -0.2% | 0.2% | -1.4% | 12.4% | -2.6% | -7.8% | 0.3% | 0.8% | 1.4% | -1.0% |
| Intermediate Core Bond Avg | -0.7% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 5.6% |
| Total Risk Index: | 0.46 - Low |
| Category Risk Index: | 1.00 - Average |
| Category Risk Grade: | C (59% Rank) |
| Beta: | 1.00 |
| R-Squared: | 100% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1633 Mil |
| Fund Total Assets: | $ 10 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 389% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 17.6 years | |||
| Average Tenure: 6.8 years | |||
| Managers (Year): Salm Michael (2008), Chan Albert (2017), Benson Andrew (2023), Chou Tina (2024), Klein Patrick (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 963 |
| % in Top 10 Holdings: | 37.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.4% |
| Domestic Bond: | 108.5% |
| Foreign Bond: | 6.7% |
| Convertible Bond: | 0.2% |
| Other: | 2.9% |
| Cash: | -18.6% |
Purchase Information
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-225-1581 |
| Website: | www.putnam.com |
| Status: | Open |
| Inception Date: | December 23, 2008 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 0.89% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Putnam Core Bond Fund Y |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
