Franklin Retirement Advantage 2040 R6 (PBAMX)

Fund Assets	39.81M
Expense Ratio	0.45%
Min. Investment	$500
Turnover	29.00%
Dividend (ttm)	0.56
Dividend Yield	4.48%
Dividend Growth	-8.70%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	12.32
YTD Return	9.07%
1-Year Return	12.37%
5-Year Return	56.26%
52-Week Low	10.98
52-Week High	12.77
Beta (5Y)	0.75
Holdings	3
Inception Date	Dec 31, 2019

About PBAMX

Putnam Retirement Advantage 2040 Fund is a target-date mutual fund designed to help investors plan for retirement, with the year 2040 as its designated target date. Its primary function is to provide a diversified investment solution that automatically adjusts its asset allocation over time: initially emphasizing capital appreciation through a higher allocation to growth-oriented assets and progressively shifting toward income and capital preservation as the target date approaches. The fund primarily invests in a combination of underlying Putnam funds, notably those focused on growth and balanced strategies, thereby offering exposure to a broad mix of asset classes. This glide path structure aims to balance growth potential in earlier years with risk management in later years, making it especially suited for individuals anticipating retirement around 2040. The fund plays a significant role within employer-sponsored retirement plans and individual retirement accounts by offering a simplified, professionally managed investment choice tailored to evolving risk profiles throughout the investor’s career and into retirement.

• Fund Family: Franklin Templeton Investments
• Category: Target-Date 2040
• Performance Rating: High
• Risk Rating: Low
• Stock Exchange: Nasdaq
• Ticker Symbol: PBAMX
• Share Class: Class R6 Shares
• Index: S&P Target Date To 2040 TR

Performance

PBAMX had a total return of 12.37% in the past year, including dividends. Since the fund's inception, the average annual return has been 10.83%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
PALZX	Class Y Shares	0.55%
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	$1.3077	Dec 30, 2025
Dec 31, 2024	$0.809	Dec 31, 2024
Dec 29, 2023	$0.342	Dec 29, 2023
Dec 30, 2022	$1.103	Dec 30, 2022
Dec 31, 2021	$1.674	Dec 31, 2021
Dec 31, 2020	$0.196	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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