PTCCX

About PTCCX

Putnam Tax-Free High Yield Fund Class C is a municipal bond mutual fund designed to provide investors with high current income that is exempt from federal income tax. The fund primarily invests in a diversified portfolio of higher-yielding, lower-rated municipal bonds, which can include both below-investment-grade and investment-grade securities. The bonds held by the fund typically have intermediate- to long-term maturities, generally three years or longer. While the interest income is generally tax-free at the federal level, some holdings may be subject to the federal alternative minimum tax. The fund’s portfolio is diversified across various sectors, such as education, health care, special tax, housing, industrial development, and utilities, and includes issuers from multiple U.S. states including Florida, California, Texas, Wisconsin, and Illinois. By targeting higher-yielding municipal bonds, this fund plays a significant role for those seeking income with potential tax advantages, particularly for individuals in higher tax brackets. Its strategy also caters to investors looking for credit diversity within the municipal bond space, with allocations spanning credit qualities from AAA to more speculative grades like BB and below.