# Putnam Focused U.S. Research ETF (PFRX): ETF Facts & Distributions

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- Issuer: Franklin Templeton · Asset class: Equity
- Strategy: Actively Managed · Inception: 2008-12-18

Putnam Focused U.S. Research ETF is an actively managed exchange-traded fund that seeks capital appreciation by investing primarily in U.S. companies selected through fundamental research. The fund focuses on a concentrated portfolio of companies that Putnam Investment Management believes offer attractive long-term growth potential, using fundamental analysis of business prospects, financial condition, valuation, and other company-specific factors. The ETF is listed on NYSE Arca under the ticker PFRX and is scheduled to commence operations on September 28, 2026 through the reorganization of...

## Key Facts

| Metric | Value |
|---|---|
| Price | $32.92 |
| Expense Ratio | 0.35% |
| Assets Under Management | $538.0M |
| NAV | $33.51 |
| Holdings Count | 0 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | — |
| 52-Week Range | $32.80 – $33.87 |
| Beta | 0.00 |

## Frequently Asked Questions

### What does PFRX invest in?

Putnam Focused U.S. Research ETF is an actively managed exchange-traded fund that seeks capital appreciation by investing primarily in U.S. companies selected through fundamental research. The fund focuses on a concentrated portfolio of companies that Putnam Investment Management believes offer attractive long-term growth potential, using fundamental analysis of business prospects, financial condition, valuation, and other company-specific factors. The ETF is listed on NYSE Arca under the ticker PFRX and is scheduled to commence operations on September 28, 2026 through the reorganization of Putnam Focused Equity Fund.

### What is the expense ratio of PFRX?

Putnam Focused U.S. Research ETF (PFRX) charges an expense ratio of 0.35%. This is the annual fee deducted from fund assets to cover management and operations.

### How big is PFRX?

Putnam Focused U.S. Research ETF (PFRX) manages $538.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Is PFRX actively managed or an index fund?

PFRX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (PFRX's is 0.35%) in exchange for the discretion to over- or under-weight positions.

### When was PFRX launched?

Putnam Focused U.S. Research ETF (PFRX) launched in December 2008 and is managed by Franklin Templeton.

### How has PFRX performed?

PFRX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.

### Does PFRX pay a dividend?

Putnam Focused U.S. Research ETF (PFRX) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab.

### How often does PFRX pay dividends?

Putnam Focused U.S. Research ETF pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is PFRX's dividend yield?

PFRX's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is PFRX's next ex-dividend date?

PFRX hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page.

### How much will PFRX's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.35% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does PFRX charge its expense ratio?

The expense ratio is deducted in tiny daily slices from PFRX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does PFRX cost more than a fund like VOO?

PFRX is actively managed (current expense ratio 0.35%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether PFRX's fee is competitive for the active-management cohort.

### Are there cheaper alternatives to PFRX?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PFRX (0.35%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/pfrx
- Distribution history: https://www.dividenddata.com/funds/pfrx/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/pfrx/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/pfrx/expenses
- Peer comparison: https://www.dividenddata.com/funds/pfrx/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.