PHYLX

About PHYLX

Putnam High Yield Fund Class C is an open‑end mutual fund focused on below‑investment‑grade corporate credit. Its primary objective is to provide high current income by investing predominantly in U.S. company bonds rated below investment grade, typically with intermediate‑ to long‑term maturities, while also accessing other debt instruments such as loans. The strategy emphasizes credit research and active risk management, considering credit, interest‑rate, and prepayment risks alongside broader market conditions. The fund offers monthly income distributions and targets the high yield bond category, aiming to capture spread premiums associated with non‑investment‑grade issuers. It maintains a diversified portfolio across hundreds of holdings, reflecting a broad exposure to the U.S. high yield market and related sectors sensitive to credit cycles. Class C shares are structured with higher ongoing expenses relative to other share classes, aligning with distribution and servicing features. Since its inception in 2007, the fund has served investors seeking bond‑market exposure centered on credit risk and income generation within the U.S. corporate high yield segment.