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† The benchmark shown is a "best fit" benchmark assigned by Morningstar. Morningstar does not calculate benchmark performance for funds with a blended, or combined primary benchmark. For more information on the Funds benchmark, please click on the prospectus link above. Powered by Morningstar. Morningstar data is shown as of the most recent reporting period by each fund family. Allocations may not equal 100% and will vary overtime. Assets contained within "Other" category are not classified by Morningstar. All information presented in this tool is for informational purposes only and is not intended to be investment advice. The information is not meant to be an offer to sell or a recommendation to buy any investment product. Unless otherwise noted, performance is shown before sales charge. For more fund information, click the prospectuses button. All information is historical and not indicative of future results. Current performance may be lower or higher than the quoted past performance, which cannot guarantee results. Share price, principal value, and return will vary, and you may have a gain or a loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. After-sales-charge returns reflect the maximum sales charge applicable to the fund, which can be found within the Table Chart. Performance may not reflect any expense limitation or subsidies currently in effect. Short-term trading fees may apply. To obtain the most recent month-end performance, visit Morningstar.com. This material is for informational and educational purposes only. It is not a recommendation of any specific investment product, strategy, or decision, and is not intended to suggest taking or refraining from any course of action. It is not intended to address the needs, circumstances, and objectives of any specific investor. Putnam, which earns fees when clients select its products and services, is not offering impartial advice in a fiduciary capacity in providing this sales and marketing material. This information is not meant as tax or legal advice. Investors should consult a professional advisor before making investment and financial decisions and for more information on tax rules and other laws, which are complex and subject to change. © 1998-2021, Putnam Retail Management Not FDIC insured | May lose value | No bank guarantee Try FundVisualizer for free Menu * Try FundVisualizer for free * Resources * How to * FAQ * Contact WE’RE HERE TO HELP. WATCH OUR TUTORIALS TO GET STARTED WITH FUNDVISUALIZER. Try FundVisualizer for free Interactive videos With FundVisualizer, you can compare funds, model portfolios, and share with your clients, anytime, anywhere. But how does it actually work? This interactive demo shows you the key capabilities of FundVisualizer. You can click on each capability for a guided tour of how to use them. Get started A whole new work world: What you should know about the pandemic-related labor shortage When the Covid-19 pandemic struck, millions of American workers found themselves out of work. Nearly 18 months later, the work world looks very different than it did pre-pandemic. Read more The enhanced child tax credit: An opportunity for investment? The American Rescue Plan, passed in March, made important changes to the child tax credit for 2021 that are now being felt in the pocketbooks of about 35 million families. Starting in July, eligible families began receiving hundreds of dollars in direct monthly payments that will continue through the end of the year. Families who struggle to pay monthly expenses will likely use the payments to cover bills, pay down debt, or build a safety net. ... Read more Print, email, and share with the PDF Creator FundVisualizer has one of the most intuitive, easy-to-use interfaces to explore and compare ETFs, mutual funds, and indexes. Read more Behind the NFT hype: Answers to five common questions When a piece of digital artwork created by a little-known artist sold at auction for $69 million this spring, the technology suddenly became a hot topic of conversation well beyond those who track the latest crypto-related fads. Read more The power of FundVisualizer’s Explorer is in the filters Whether you’re looking to replace a fund, or to complement an existing one in your client’s portfolio, FundVisualizer’s Explorer is a unique and dynamic tool to help you to discover those new investment opportunities. Read more Cryptocurrency goes mainstream: What you and your clients should know 2021 may be the year that cryptocurrency fully enters the mainstream. According to a recent poll from Newsweek, about 46 million Americans — or 17 % of the adult population — own at least a share of bitcoin. Read more Investing in your clients: The American Jobs Plan The Biden administration recently introduced its $2 trillion infrastructure proposal, the American Jobs Plan, that seeks to invest in both infrastructure and jobs. Still far from a done deal, the sweeping plan has the potential to impact many parts of the American economy, including your clients’ investments. Read more Beyond the chatter about student loan forgiveness Recent discussions and events have elevated the profile of student loan debt forgiveness — a development followed intently by the 45 million American borrowers who collectively owe $1.7 trillion in student loans. Read more FundVisualizer’s Fund Explorer helps you discover new investment opportunities Pick a fund you’re familiar with and use the Fund Explorer to find similar funds, ETFs, and indexes based on the same share class and Morningstar category. Read more ESG investing is mainstream — and booming FundVisualizer helps you get on board with socially responsible investments Read more What might lie ahead as we enter the vaccine era? FundVisualizer can help you explore risk With phase one of the national vaccine rollout happening more slowly than predicted and record-setting numbers of new infections being reported across the country, important questions remain about what a post-vaccine world might actually look like. Read more Directions 2021: Five trends in the advisor-client relationship for a post-pandemic world The pandemic has created unforeseen and unimaginable challenges in 2020. As we anticipate the availability of vaccines and a "return to normal," how will the advisor-client relationship shift in the upcoming years? Read more 6 things to keep in mind as you follow COVID vaccine news Headlines about progress on COVID-19 vaccines come as welcome news as we approach the end of a year defined by the global pandemic. But what is likely to lie beyond the headlines? Your clients are probably wondering the same about their investments as they follow the latest coronavirus news. Read more Addressing client uncertainties in a most unusual election year This most unusual of elections is taking place amid a backdrop of unprecedented uncertainty: an ongoing global pandemic and recession at home, an electorate more polarized and energized than ever, and an election outcome that may not be immediately clear. Read more Educating clients about ETFs: Let FundVisualizer highlight the advantages Even clients who have a good grasp of investing basics may not yet be aware of exchange-traded funds — although ETFs may already be part of their portfolios. Read more Retirement and estate planning: Three discussions to have with clients now The COVID-19 pandemic has likely made retirement and estate planning a top-of-mind issue for your clients. Read more What are your peers’ best practices during the COVID-19 crisis? Four months into the COVID19 pandemic, social distancing and work-from-home have become routine for financial advisors and many of their clients. But it wasn’t always that way. Read more Stimulus funds: Now may be the time to help clients reassess financial goals As millions of Americans receive payments from the CARES Act, with more stimulus funding on the way, they face important financial decisions. Read more The new normal: Five advisor tips for delivering client service virtually As everyone adjusts to the new normal, where working from home and social distancing replace in-person meetings, it is important for financial advisors to develop strategies to continue delivering great client service virtually. Read more Talking volatility: arm yourself with data from FundVisualizer As day-to-day realities of life with coronavirus take root, concerns about the financial implications of the pandemic are top of mind for Americans. Read more Coronavirus: Answering investor questions Headlines about the global impact of the coronavirus (or COVID-19) contribute to growing uncertainty for governments, markets, and individual investors. Read more Advisor Tips: Getting the most out of FundVisualizer Over 40,000 advisors have used FundVisualizer since 2011. We continually seek feedback through focus groups, demos and one-on-one conversations: what do advisors like most while using FundVisualizer? Read more 3 tech trends reshaping client relationships in 2020 Investors expect faster, more frequent and more engaging communications. Learn three ways advisors are using technology to meet those demands. Read more Top five tips to boost client focus in 2020 Client interaction is the keystone of an advisor’s success. Here are five tips to increase the time and quality of your crucial client interactions Read more Client year-end planning made easier with FundVisualizer In this season of year-end meetings, FundVisualizer can speed up your portfolio reviews with clients. It can help identify investments best-suited for their needs. Read more Introduction to FundVisualizer With FundVisualizer you can compare funds, model portfolios, and share with your clients, anytime, anywhere. Play video Financial advisors continue to help improve FundVisualizer Since its launch in 2011, almost 40,000 advisors have used FundVisualizer to search for and compare mutual funds, including no-loads and ETFs; model portfolios, create client-shareable output, and most recently, “explore” similar funds to discover new investment opportunities. Read more Fund and portfolio analysis for free, anytime, anywhere Use FundVisualizer to evaluate more than 30,000 funds, ETFs, and indexes from across the industry. Play video Create and model portfolios for your clients Use the model portfolio feature in FundVisualizer to compare historical returns of different portfolios and their allocations across various market environments. Play video Explore funds with FundVisualizer Use the fund explorer feature in FundVisualizer to discover new investment opportunities for your clients. Play video Import your fund data into FundVisualizer To save time, use the data import feature in FundVisualizer to quickly move your fund data from a spreadsheet directly into the tool. Play video Share your investment ideas with clients Use the PDF Creator in FundVisualizer to create and share customized shareholder-approved reports directly from the tool. Play video Create hypotheticals with FundVisualizer Use the hypothetical tool in FundVisualizer to create custom hypos and model periodic contributions or withdrawals, before and after sales charge, or the frequency of a rebalance. Play video TRY FUNDVISUALIZER FundVisualizer is a free, advisor-only tool for comparing mutual funds (including ETFs and no-loads) in head-to-head comparisons and from within portfolios. With FundVisualizer you can compare funds, model portfolios, and share with your clients, anytime, anywhere. Try FundVisualizer for free All information presented in this tool is for informational purposes only and is not intended to be investment advice. The information is not meant to be an offer to sell or a recommendation to buy any investment product. All funds involve risk, and you can lose money. See the prospectus for details. FundVisualizer is an award winning tool that can help you compare mutual funds, screen ETFs and analyze portfolios. Check out our Site Map to learn more. Your clients should carefully consider the investment objectives, risks, charges, and expenses of a fund before investing. For a prospectus, or a summary prospectus if available, containing this and other information for any fund, please call Putnam Client Engagement Center at 1-800-354-4000. Your clients should read the prospectus carefully before investing. Not FDIC insured | May lose value | No bank guarantee © 2011-2021, Putnam Retail Management