Putnam MN Tax Exempt Income R6 (PMVTX)
| Fund Assets | 174.21M |
| Expense Ratio | 0.58% |
| Min. Investment | $500 |
| Turnover | 6.00% |
| Dividend (ttm) | 0.27 |
| Dividend Yield | 3.14% |
| Dividend Growth | 3.22% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Aug 29, 2025 |
| Previous Close | 8.72 |
| YTD Return | 0.18% |
| 1-Year Return | -0.74% |
| 5-Year Return | 1.03% |
| 52-Week Low | 8.32 |
| 52-Week High | 8.96 |
| Beta (5Y) | n/a |
| Holdings | 177 |
| Inception Date | May 22, 2018 |
About PMVTX
Putnam Minnesota Tax Exempt Income Fund Class R6 is a single-state municipal bond mutual fund focused on providing a high level of current income that is exempt from federal income tax and Minnesota personal income tax. The portfolio primarily invests in Minnesota-issued municipal securities, spanning sectors such as education, health care, local government, utilities, housing, and transportation, with a notable tilt toward higher-quality credits in the AA and A ranges. The fund targets intermediate-to-long interest-rate exposure, reflected in its effective duration and weighted average maturity, and pays dividends on a monthly schedule. Benchmarked to the Bloomberg Municipal Bond Index, it serves investors seeking state-specific tax-exempt income and diversified access to Minnesota’s municipal market through revenue bonds and general obligations. The strategy typically limits alternative minimum tax exposure and maintains moderate turnover, aiming for efficient implementation of credit and yield positioning within the Minnesota muni landscape. The fund is scheduled to be reorganized into Franklin Minnesota Municipal Income ETF within the Putnam ETF Trust, reflecting an evolution toward an exchange-traded structure while preserving the state-focused, tax-exempt mandate.
Performance
PMVTX had a total return of -0.74% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.64%.
Top 10 Holdings
20.69% of assets| Name | Symbol | Weight |
|---|---|---|
| MINNESOTA ST HIGHER ED FACS AUTH REV | MN.MNSHGR 4 10.01.2046 | 2.46% |
| MINNEAPOLIS MINN HEALTH CARE SYS REV | MN.MINMED 4 11.15.2040 | 2.34% |
| MINNESOTA MUN GAS AGY COMMODITY SUPPLY REV | MN.MGAUTL 12.01.2052 | 2.29% |
| Net Cash | n/a | 2.18% |
| MINNESOTA ST CTFS PARTN | MN.MNSCTF 5 11.01.2040 | 2.08% |
| MINNEAPOLIS MINN MULTIFAMILY REV | MN.MINMFH 2.35 02.01.2038 | 1.99% |
| WESTERN MINN MUN PWR AGY MINN PWR SUPPLY REV | MN.WESPWR 5 01.01.2049 | 1.98% |
| HENNEPIN CNTY MINN | MN.HEN 5 12.15.2035 | 1.81% |
| HENNEPIN CNTY MINN REGL RR AUTH | MN.HENTRN 5 12.01.2035 | 1.78% |
| MINNESOTA ST CTFS PARTN | MN.MNSCTF 5 11.01.2041 | 1.77% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Aug 29, 2025 | $0.02507 | Aug 29, 2025 |
| Jul 31, 2025 | $0.02281 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02208 | Jun 30, 2025 |
| May 30, 2025 | $0.02421 | May 30, 2025 |
| Apr 30, 2025 | $0.02294 | Apr 30, 2025 |
| Mar 31, 2025 | $0.02131 | Mar 31, 2025 |