Putnam Michigan Tax Exempt Income Fund

Scorecard
3 / 5 Stars
Lipper
3 4 3 2 5
Zacks Investment Research
4 (Sell)
Standard & Poor's
3 / 5 Stars
TheStreet.com
C- (Hold)

#56 in Muni Single State Interm

U.S. News evaluated 68 Muni Single State Interm Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.

See all Putnam funds

See full Muni Single State Interm rankings

See more fund rankings

Performance

The fund has returned -2.37 percent over the past year, 4.72 percent over the past three years, 5.23 percent over the past five years, and 3.66 percent over the past decade.

Trailing Returns Updated 02.28.2014
Year to date 3.0%
1 Year -2.4%
3 Years (Annualized) 4.7%
5 Years (Annualized) 5.2%
10 Years (Annualized) 3.7%

See more PXMIX performance

Summary

The investment seeks as high a level of current income exempt from federal income tax and Michigan personal income tax as the fund adviser believes is consistent with preservation of capital. The fund invests mainly in bonds that pay interest that is exempt from federal income tax and Michigan personal income tax (but that may be subject to federal alternative minimum tax (AMT)), are investment-grade in quality, and have intermediate- to long-term maturities (three years or longer).

Fees

Fees are Below Average compared to funds in the same category.
Putnam Michigan Tax Exempt Income Fund has an expense ratio of 0.84 percent.

See more PXMIX fees

Risk

Risk is Above Average compared to funds in the same category according to Morningstar.

See more PXMIX risk