Franklin Retirement Advantage Plus 2040 Fund Class A (PRRZX)

Fund Assets	395.86M
Expense Ratio	0.871%
Min. Investment	$500
Turnover	17.00%
Dividend (ttm)	0.55
Dividend Yield	2.09%
Dividend Growth	20.09%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	26.23
YTD Return	6.16%
1-Year Return	7.77%
5-Year Return	40.72%
52-Week Low	23.34
52-Week High	26.77
Beta (5Y)	0.67
Holdings	7
Inception Date	Nov 1, 2004

About PRRZX

Putnam Sustainable Retirement 2040 Fund Class A is a target-date mutual fund designed for investors planning to begin gradual withdrawals around the year 2040, typically aligning with anticipated retirement. The fund's primary objective is to balance capital appreciation and current income, gradually shifting its emphasis from growth to income as the target retirement date approaches. The portfolio management team dynamically adjusts allocations among equities, fixed income, and cash equivalents, moving toward more conservative investments to reduce risk as the fund nears 2040. This fund is part of a broader series of Putnam target-date offerings, each tailored to different retirement horizons. The "sustainable" focus reflects the integration of environmental, social, and governance (ESG) considerations in security selection, aiming to meet broader ethical standards alongside financial goals. Serving as a diversified, all-in-one investment solution, Putnam Sustainable Retirement 2040 Fund Class A plays a key role for individuals seeking a professionally managed glide path strategy to help provide income and capital preservation throughout retirement.

• Fund Family: Franklin Templeton Investments
• Category: Target-Date 2040
• Performance Rating: Low
• Risk Rating: Low
• Stock Exchange: Nasdaq
• Ticker Symbol: PRRZX
• Index: S&P 500 TR

Performance

PRRZX had a total return of 7.77% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.60%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
FTFFX	Fidelity	Fidelity Advisor Freedom 2040 M	1.16%
FCFFX	Fidelity	Fidelity Advisor Freedom 2040 C	1.66%
FAFFX	Fidelity	Fidelity Advisor Freedom 2040 A	0.91%
FIJPX	Fidelity	Fidelity Advisor Freedom 2040 Z	0.62%
FIFFX	Fidelity	Fidelity Advisor Freedom 2040 I	0.66%

Top Holdings

Name	Symbol	Weight
Franklin Dynamic Asset Allocation Gr P	n/a	55.93%
Franklin Dynamic Asset Allocation Bal P	n/a	34.44%
Putnam Fds Tr	n/a	4.08%
Franklin BSP Lending Fund	FBREX	2.93%
Clarion Partners Real Estate Inc I	CPREX	2.93%
Usd	n/a	0.05%
Usd	n/a	-0.37%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 30, 2025	$0.5512	Dec 30, 2025
Dec 31, 2024	$0.459	Dec 31, 2024
Dec 29, 2023	$0.460	Dec 29, 2023
Dec 30, 2022	$3.144	Dec 30, 2022
Dec 31, 2021	$2.562	Dec 31, 2021
Dec 31, 2020	$0.001	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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