Putnam ESG High Yield ETF

Frequently Asked Questions About PHYD

What does PHYD invest in?

The fund's principal aim is to provide a high level of current income. Capital growth serves as a secondary objective, contingent upon it being compatible with the primary goal of income generation. Its investments are predominantly in bonds of below-investment-grade quality. A core strategy involves targeting companies or issuers that the fund's manager determines to satisfy pertinent environmental, social, and governance (ESG) standards, evaluated within each specific sector.

What is the expense ratio of PHYD?

Putnam ESG High Yield ETF (PHYD) charges an expense ratio of 0.57%. This is the annual fee deducted from fund assets to cover management and operations.

What is the duration of PHYD?

Effective duration measures PHYD's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PHYD's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PHYD?

PHYD's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PHYD?

Yield to maturity (YTM) is the total return you'd earn from PHYD if every bond in the portfolio is held to maturity at the current price. PHYD's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.

How big is PHYD?

Putnam ESG High Yield ETF (PHYD) manages $7.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.