Putnam High Yield Advantage Fund N-PX Annual report of proxy voting record

	UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	Washington, DC 20549
	FORM N-PX
	ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
	MANAGEMENT INVESTMENT COMPANY
Investment Company Act File Number :	811-4616
Name of Registrant:	Putnam High Yield Advantage Fund
Address of Principal Executive Offices:
	One Post Office Square
	Boston, Massachusetts 02109
Name and address of agent of service:
	Beth S. Mazor, Vice President
	Putnam High Yield Advantage Fund
	One Post Office Square
	Boston, Massachusetts 02109
CC:
	John W. Gerstmayr, Esq.
	Ropes & Gray LLP
	One International Place
	Boston, Massachusetts 02110
Registrant's telephone number including area code:
	(617) 292-1000
Date of fiscal year end:
	11/30/2006
Date of reporting period:
	07/01/2006 - 06/30/2007

Item 1: Proxy VotingRecord

Registrant: Putnam High Yield Advantage Fund

Delta Air Lines Inc
	Ticker	Security ID:	Meeting Date		Meeting Status
	DALRQ	CUSIP9 247361YG7	04/09/2007		Voted
	Meeting Type	Country of Trade
	Consent	United States
	Issue No.	Description	Proponent	Mgmt Rec	Vote Cast	For/Agnst Mgmt
	1	THE PLAN	Mgmt	NA	For	NA
	2	OPT OUT OF THE RELEASE	Mgmt	NA	For	NA
		PROVISIONS
	3	U.S. CITIZEN	Mgmt	NA	For	NA
Owens Corning
	Ticker	Security ID:	Meeting Date		Meeting Status
	OWENQ	CUSIP9 69073FAB9	09/01/2006		Voted
	Meeting Type	Country of Trade
	Consent	United States
	Issue No.	Description	Proponent	Mgmt Rec	Vote Cast	For/Agnst Mgmt
	1	PLAN OF REORGANIZATION	Mgmt	NA	For	NA
	2	RELEASED PARTIES ELECTION	Mgmt	NA	Against	NA
Putnam Prime Money Market Fund
	Ticker	Security ID:	Meeting Date		Meeting Status
		CUSIP9 746763416	05/15/2007		Voted
	Meeting Type	Country of Trade
	Special	United States
	Issue No.	Description	Proponent	Mgmt Rec	Vote Cast	For/Agnst Mgmt
	1	Approving a New Management	Mgmt	For	For	For
		Contract for your Fund

Any ballot marked 'Abstain' is considered to have been voted. Ballots marked 'Abstain' are considered to have been voted againstmanagement's recommendation if management's recommendation is 'For' or 'Against,' and for management’s recommendation if management’s recommendation is ‘Abstain.’ Where management has recommended that shareholders 'Abstain' from voting on a ballot item, a ballot marked 'For' or 'Against' is considered to have been voted against management's recommendation to 'Abstain.'

Where management has made no recommendation on a ballot item, 'NA' is used to indicate that there is no management recommendation that a shareholder may vote 'For' or 'Against. '

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:	Putnam High Yield Advantage Fund
By:	/s/ Charles E. Porter
Name:	Charles E. Porter
Title:	Executive Vice President, Associate Treasurer, Principal Executive Officer and
	Compliance Liaison
Date:	August 13, 2007