PHYMX

About PHYMX

Putnam High Yield Fund Class M is an open-end mutual fund focused on generating high current income by investing primarily in higher-yielding, lower-rated corporate bonds, with capital growth as a secondary objective when consistent with income goals. The strategy spans a diversified mix of issuers and industries, emphasizing below-investment-grade credit to capture elevated coupon income while managing credit risk through broad portfolio construction. The fund has a long operating history dating back to 1994 and pays distributions on a monthly schedule, reflecting its income-oriented mandate. It sits within the high yield bond category, where portfolios concentrate on lower-quality debt that typically offers higher yields but carries greater sensitivity to economic and credit conditions. With hundreds of holdings, the fund seeks to balance issuer-specific risk against the structural risks inherent in speculative-grade markets. Key attributes such as minimum investment requirements and an expense ratio reflect its retail-friendly Class M share structure, while performance is commonly evaluated versus high yield category peers and broad corporate credit benchmarks. Overall, the fund serves investors seeking a dedicated allocation to the U.S. high yield corporate bond market for income diversification.