Franklin Retirement Advantage 2040 Y (PALZX)

Fund Assets	39.81M
Expense Ratio	0.57%
Min. Investment	$500
Turnover	29.00%
Dividend (ttm)	0.54
Dividend Yield	4.39%
Dividend Growth	-9.65%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	12.30
YTD Return	9.00%
1-Year Return	12.27%
5-Year Return	55.37%
52-Week Low	10.96
52-Week High	12.74
Beta (5Y)	0.75
Holdings	3
Inception Date	Sep 1, 2020

About PALZX

Putnam Retirement Advantage 2040 Fund Class Y is a target-date mutual fund designed to help investors plan for retirement around the year 2040. The fund employs a diversified investment strategy that automatically adjusts its asset allocation over time, shifting from a heavier weighting in equities during the early years to a more conservative mix focused on fixed income as the target retirement date approaches. This approach aims to balance long-term growth potential with risk management, addressing the evolving needs of investors as they near retirement. Distinctive features of this fund include its dynamic allocation across both domestic and international equity and fixed-income securities, gradually reducing equity exposure as the year 2040 draws closer. The fixed-income portion of the portfolio is managed to reduce interest rate risk, featuring a shorter average duration compared to its category peers. As a result, the fund is especially suited for individuals seeking a structured, professionally managed investment path to retirement, offering a blend of growth opportunity and capital preservation appropriate for a target-date strategy. The fund is managed by Putnam Investments, leveraging their experience in retirement planning solutions.

• Fund Family: Franklin Templeton Investments
• Category: Target-Date 2040
• Performance Rating: High
• Risk Rating: Low
• Stock Exchange: Nasdaq
• Ticker Symbol: PALZX
• Share Class: Class Y Shares
• Index: S&P Target Date To 2040 TR

Performance

PALZX had a total return of 12.27% in the past year, including dividends. Since the fund's inception, the average annual return has been 11.19%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
PBAMX	Class R6 Shares	0.45%
PCCLX	Class A Shares	0.80%
PBAOX	Class R Shares	1.20%
PBBZX	Class C Shares	1.55%

Top Holdings

99.98% of assets

Name	Symbol	Weight
Putnam Dynamic Asset Allocation Balanced Fund, Class P	n/a	56.30%
Putnam Dynamic Asset Allocation Growth Fund, Class P	n/a	40.32%
Putnam Short Term Investment Fund, Class P	n/a	3.36%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 30, 2025	$1.2956	Dec 30, 2025
Dec 31, 2024	$0.802	Dec 31, 2024
Dec 29, 2023	$0.336	Dec 29, 2023
Dec 30, 2022	$1.093	Dec 30, 2022
Dec 31, 2021	$1.661	Dec 31, 2021
Dec 31, 2020	$0.193	Dec 31, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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