The muni bond advantage

Municipal bonds offer an attractive opportunity for tax-smart investing. This interactive tool can help you compare munis with Treasurys from various states and across income levels. Try the tool and explore Putnam municipal bond funds.

Data as of 3/31/21. Sources: U.S. Treasury, Barclays Municipal Credit Research, Standard & Poor's, The Tax Foundation, and U.S. Census (estimated data). State municipal bond yields represented the yield to worst of the Barclays Municipal Bond Index from that state. Muni yield figures do not reflect the potential effects of the alternative minimum tax. Credit ratings are by Standard & Poor's, and are subject to change. While all bonds have risks, municipal bonds may have a higher level of credit risk as compared with government bonds and CDs. Yields shown are not indicative of the performance of any particular investment, and it is not possible to invest directly in an index. Past performance is not indicative of future results.

Explore Putnam's 4- and 5-star rated municipal bond funds

(See all Putnam municipal bond funds)

Strategic Intermediate Municipal Fund (PAMYX)

This fund received a Overall Morningstar Rating out of 250 funds in the Muni National Interm category based on total return as of 02/28/21

Insights and outlook on taxes

Putnam offers timely insights on the evolution of the municipal bond market and our outlook for taxes over the coming years.