Franklin Retirement Advantage 2040 C (PBBZX)

Fund Assets	39.81M
Expense Ratio	1.55%
Min. Investment	$500
Turnover	29.00%
Dividend (ttm)	0.97
Dividend Yield	7.76%
Dividend Growth	33.97%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	12.56
YTD Return	9.51%
1-Year Return	15.23%
5-Year Return	47.40%
52-Week Low	11.05
52-Week High	12.63
Beta (5Y)	0.75
Holdings	3
Inception Date	Sep 1, 2020

About PBBZX

Putnam Retirement Advantage 2040 Fund Class C is a target-date mutual fund designed for investors planning to retire around the year 2040. The fund's primary objective is to provide long-term growth of capital by dynamically adjusting its asset allocation over time. Early in its lifecycle, the fund emphasizes growth through a higher allocation to equities. As the target retirement year approaches, its portfolio gradually shifts toward a more conservative mix, increasing allocation to fixed income and capital preservation assets to reduce risk. The strategy involves investing in a variety of underlying Putnam mutual funds, which enables broad diversification across multiple asset classes, sectors, and geographic regions. This approach is intended to help investors efficiently manage risk and return over the decades leading up to retirement. Notably, the fund distributes dividends and has demonstrated a competitive trailing yield relative to peers. Putnam Retirement Advantage 2040 Fund Class C is commonly used within employer-sponsored retirement plans as a core option for participants seeking an all-in-one retirement savings solution that automatically adapts to their anticipated retirement timeline.

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

Performance

PBBZX had a total return of 15.23% in the past year, including dividends. Since the fund's inception, the average annual return has been 10.59%.

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%
PBAOX	Class R Shares	1.20%

Top Holdings

99.95% of assets

Name	Symbol	Weight
Putnam Dynamic Asset Allocation Balanced Fund, Class P	n/a	53.81%
Putnam Dynamic Asset Allocation Growth Fund, Class P	n/a	42.72%
Putnam Short Term Investment Fund, Class P	n/a	3.42%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 30, 2025	$0.9726	Dec 30, 2025
Dec 31, 2024	$0.726	Dec 31, 2024
Dec 29, 2023	$0.254	Dec 29, 2023
Dec 30, 2022	$1.000	Dec 30, 2022
Dec 31, 2021	$1.539	Dec 31, 2021
Dec 31, 2020	$0.157	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:

Aug 27, 2026

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