Investment Objective: |
Putnam ESG Core Bond ETF is an active ETF that invests in income securities diversified across multiple sectors for all-weather performance. Invests across sectors of the U.S. bond market, including mortgage-backed securities, corporate bonds, and other government obligations. The fund invests mainly in a diversified portfolio of investment-grade fixed-income securities with a focus on companies or issuers that Putnam Management, the fund's investment manager, believes meet relevant environmental, social, or governance ("ESG") criteria on a sector-specific basis ("ESG criteria"). The fund invests mainly in bonds of governments and private companies located in the United States that are investment-grade in quality with intermediate- to long-term maturities (three years or longer). Investment-grade securities are rated at least BBB or its equivalent at the time of purchase by a nationally recognized securities rating agency, or are unrated investments that Putnam Management believes are of comparable quality. Putnam Management may invest in below-investment-grade investments. |