Putnam Retirement Advantage 2040 R (PBAOX)

Fund Assets	39.81M
Expense Ratio	1.20%
Min. Investment	$500
Turnover	29.00%
Dividend (ttm)	1.27
Dividend Yield	11.05%
Dividend Growth	75.13%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	11.49
YTD Return	1.95%
1-Year Return	13.65%
5-Year Return	50.43%
52-Week Low	8.84
52-Week High	11.58
Beta (5Y)	n/a
Holdings	3
Inception Date	Sep 1, 2020

About PBAOX

Putnam Retirement Advantage 2040 Fund Inc. Class R is a target-date mutual fund designed to help investors plan for retirement around the year 2040. The fund actively manages a diversified portfolio that automatically adjusts its asset allocation over time as the target retirement date approaches. Early on, the fund emphasizes growth potential by allocating a higher proportion to equities. As it nears the 2040 target, its allocation gradually shifts to favor more conservative investments, such as bonds and cash equivalents, aiming to reduce volatility and preserve capital for investors entering retirement. This structure is intended to simplify the retirement saving process by providing a single investment solution for long-term retirement planning. The fund serves individuals participating in employer-sponsored retirement plans or those seeking a managed approach to retirement investing. Its diversified holdings span multiple sectors and asset classes, reflecting a broad-based investment strategy that seeks a balance between growth and risk management over the investment lifecycle.

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

Performance

PBAOX had a total return of 13.65% in the past year, including dividends. Since the fund's inception, the average annual return has been 19.70%.

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%
PALZX	Class Y Shares	0.55%
PCCLX	Class A Shares	0.80%
PBBZX	Class C Shares	1.55%

Top Holdings

99.95% of assets

Name	Symbol	Weight
Putnam Dynamic Asset Allocation Balanced Fund, Class P	n/a	49.26%
Putnam Dynamic Asset Allocation Growth Fund, Class P	n/a	47.34%
Putnam Short Term Investment Fund, Class P	n/a	3.35%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 30, 2025	$1.2697	Dec 30, 2025
Dec 31, 2024	$0.725	Dec 31, 2024
Dec 29, 2023	$0.273	Dec 29, 2023
Dec 30, 2022	$1.028	Dec 30, 2022
Dec 31, 2021	$1.581	Dec 31, 2021
Dec 31, 2020	$0.170	Dec 31, 2020