Putnam Municipal Opportunities Trust
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$10.19
- Net Assets:$377.42 Million
- NAV:$11.49
- Premium-11.31%
- Peer Rank:84 of 116
- Investment Rating:D
- Performance:D-
- RiskC+
We rate Putnam Muni Opp Tr at D. Negative factors that influence this rating include a well below average total return. The fund invests approximately 99% of its assets in bonds and may be considered for investors seeking a Municipal - National strategy.
Total return ranks well below peers over the last three years. The Putnam Muni Opp Tr has returned an annual rate of 5.16% since inception. More recently, the fund has generated a total return of 2.09% in the last five years, -3.06% in the last three years, and -7.48% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 37% of them. It has also outpaced 20% of its competitors on a three year basis and 7% of them over the last year for the period ending 2/29/2024. On a year to date basis, PMO has returned -0.01%.
Downside risk has been above average. PMO has a draw down risk of -40.14%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 21.5%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months.
Low expense ratio helps performance. On total assets of $377.42 million, PMO maintains a low expense ratio compared to its Municipal - National peers of just 1.20% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As PMO is a closed end fund, it has no front end or back end load.
Manager tenure and performance record are net positives. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The Putnam Muni Opp Tr has been managed by Paul M. Drury for the last 22 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 75% of other fund managers.