Having trouble finding a Sector - Tech fund? Well, Putnam Global Technology Y (PGTYX) would not be a good potential starting point right now. PGTYX holds a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.ObjectiveThe world of Sector - Tech funds is an area filled with options, and PGTYX is one of them. Sector - Tech mutual funds allow investors to own a stake in a notoriously volatile sector with a much more diversified approach. Tech companies can be in any number of industries such as semiconductors, software, internet, networking just to name a few.History of Fund/ManagerPutnam Funds is based in Canton, MA, and is the manager of PGTYX. Putnam Global Technology Y debuted in January of 2009. Since then, PGTYX has accumulated assets of about $172.07 million, according to the most recently available information. The fund's current manager, Di Yao, has been in charge of the fund since December of 2012.PerformanceInvestors naturally seek funds with strong performance. PGTYX has a 5-year annualized total return of 22.6% and is in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 29.8%, which places it in the top third during this time-frame.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, PGTYX's standard deviation comes in at 13.84%, compared to the category average of 9.8%. The fund's standard deviation over the past 5 years is 13.16% compared to the category average of 9.52%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsIt's always important to be aware of the downsides to any future investment, so one should not discount the risks that come with this segment.Investors should not forget about beta, an important way to measure a mutual fund's risk compared to the market as a whole. PGTYX has a 5-year beta of 1.06, which means it is likely to be more volatile than the market average. Another factor to consider is alpha, as it reflects a portfolio's performance on a risk-adjusted basis relative to a benchmark-in this case, the S&P 500. PGTYX's 5-year performance has produced a positive alpha of 7.22, which means managers in this portfolio are skilled in picking securities that generate better-than-benchmark returns.ExpensesCosts are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, PGTYX is a no load fund. It has an expense ratio of 0.90% compared to the category average of 1.35%. PGTYX is actually cheaper than its peers when you consider factors like cost.Investors need to be aware that with this product, the minimum initial investment is $0; each subsequent investment has no minimum amount.Bottom LineOverall, Putnam Global Technology Y ( PGTYX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Putnam Global Technology Y ( PGTYX ) looks like a somewhat weak choice for investors right now.This could just be the start of your research on PGTYXin the Sector - Tech category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. And don't forget, Zacks has all of your needs covered on the equity side too! Make sure to check out Zacks.com for more information on our screening capabilities, Rank, and all our articles as well.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (PGTYX): Fund Analysis Report To read this article on Zacks.com click here.