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Fund Operations
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THOR

Thornburg Premium Income Builder ETF

Fund Assets
$32.64 M
As of 17 Sep 2026
NAV
$25.80
As of 18 Sep 2026
Change
$-0.31
As of 18 Sep 2026
YTD NAV Performance
3.63%
As of 18 Sep 2026
Asset Category:
Global Equity
Fund Benchmark:
MSCI World Index

Portfolio Managers

Head of Equities, Portfolio Manager and Managing Director
Vice Chairman, Chief Investment Strategist, Portfolio Manager and Managing Director

Meet THOR: A Globally Diversified, Income-focused Active ETF

Hear Portfolio Managers Brian McMahon and Matt Burdett discuss THOR’s investment philosophy, objective, and approach.

Overview

Overview

Why Invest in This ETF?

  • A global equity ETF built for income and growth — A diversified portfolio of global dividend-paying companies designed to generate income alongside long-term capital appreciation.
  • Active Management for Enhanced Income — The team selects investments that we believe are high-quality dividend-paying companies and uses a fundamental options overlay designed to enhance income.
  • A differentiated approach to income investing — An actively managed alternative to systematic option-income strategies, built for flexibility and long term outcomes.

Investment Objective

The Fund seeks total return consisting of income and, secondarily, capital appreciation.

Investment Approach

The Fund seeks to provide investors with an attractive, growing stream of income today and tomorrow. Leveraging Thornburg’s bottom-up fundamental research platform, the fund invests primarily in a globally diversified portfolio of dividend-paying equities. Income is further enhanced through a selective, actively managed options overlay that complements the underlying equity portfolio while retaining meaningful participation in long-term equity market returns. Equity selection, option exposure, and portfolio positioning are actively managed based on valuation, income potential, and market conditions.

Fund Facts

Fund Facts

(As of 17 Sep 2026)
Net Fund Assets
$32.64 M
Exchange
NYSE
Benchmark
MSCI World Index
Morningstar Category
Inception Date
22 Jun 2026
CUSIP
88521L504
Distribution Frequency
Quarterly
Total Expense Ratio (%)
0.79%
Pricing & Trading

Pricing & Trading

(As of 17 Sep 2026)
NAV
$26.11
Market Price / Closing Price
$26.05
Premium / Discount (%)
-0.22%
30-Day Median Bid-Ask Spread (%)
0.15%
30-Day Average Volume
31,495
Shares Outstanding
1,250,000
Premium / Discount History

Premium / Discount History

(As of Current Quarter)
Days at Premium
47
Days at Discount
8
Days at NAV
0
Days at Premium
4
Days at Discount
2
Days at NAV
1
Performance

Performance

(As of 30 Jun 2026)
Inception
Market Price (%)
-0.16
Net Asset Value (%)
-0.08
MSCI World Index (%)
0.10
Inception
Market Price (%)
5.40
Net Asset Value (%)
5.32
MSCI World Index (%)
3.21
Distributions

Distributions

(As of 17 Sep 2026)
Ex-Date
Payable Date
Total ($)
Income ($)
ST Cap Gains ($)
LT Cap Gains ($)
17 Sep 2026
18 Sep 2026
0.10794
0.10794
Characteristics

Characteristics

Portfolio

(As of 31 Aug 2026)
Portfolio
Benchmark
Number of Holdings
54
Weighted Average Market Cap
$247.9 B
$1,152.2 B
Median Market Cap
$72.4 B
$29.9 B
Price to Earnings - Forward 1YR
13.0x
19.2x
Portfolio
Benchmark
Price to Earnings - Trailing 12 Months
17.1x
26.4x
Price to Cash Flow
7.1x
16.3x
Price to Book Value
2.3x
4.1x
Active Share
92.4%
Portfolio

Portfolio

Top Holdings

(As of 18 Sep 2026)
Name
Ticker/Symbol
Market Value
Weight %
THORNBURG CAPITAL MANAGEMENT FUND
LIQUID
$2,411,267.18
6.84%
US DOLLARS
$1,995,352.52
5.66%
Orange S.A.
ORA
$1,412,289.51
4.01%
BNP Paribas S.A.
BNP
$1,246,685.67
3.54%
Kimberly-Clark Corp.
KMB
$1,129,185.00
3.20%
Samsung Electronics Co. Ltd.
SMSN
$1,065,816.00
3.02%
BT Group plc
BT/A
$1,062,831.35
3.02%
TotalEnergies SE
TTE
$1,053,285.00
2.99%
AT&T, Inc.
T
$1,032,712.86
2.93%
Enel SpA
ENEL
$982,273.78
2.79%
Exposure Breakdown

Exposure Breakdown

(As of 31 Aug 2026)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Financials
23.9
16.6
Communication Services
22.3
7.9
Health Care
10.8
9.3
Information Technology
8.9
29.8
Energy
7.9
4.1
Consumer Staples
7.3
4.9
Utilities
5.9
2.4
Industrials
5.8
11.1
Cash & Equivalents
4.0
Materials
2.0
3.5
Consumer Discretionary
1.3
8.8
Sector Allocation
Fund (%)
Financials
23.9
Communication Services
22.3
Health Care
10.8
Information Technology
8.9
Energy
7.9
Consumer Staples
7.3
Utilities
5.9
Industrials
5.8
Cash & Equivalents
4.0
Materials
2.0
Consumer Discretionary
1.3
Top 10 Industries
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
Telecommunication Services
19.2
1.4
Banks
10.4
7.5
Pharmaceuticals, Biotechnology & Life Sciences
8.8
6.7
Energy
7.9
4.1
Financial Services
6.8
6.2
Insurance
6.7
2.8
Utilities
5.9
2.4
Semiconductors & Semiconductor Equipment
5.8
13.7
Household & Personal Products
5.4
1.0
Capital Goods
4.8
8.5
Top 10 Industries
Fund (%)
Telecommunication Services
19.2
Banks
10.4
Pharmaceuticals, Biotechnology & Life Sciences
8.8
Energy
7.9
Financial Services
6.8
Insurance
6.7
Utilities
5.9
Semiconductors & Semiconductor Equipment
5.8
Household & Personal Products
5.4
Capital Goods
4.8
Top 10 Countries
Fund (%)
Benchmark (%)
Region

Portfolio

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
United States
27.3
72.1
North America
United Kingdom
13.6
3.5
UK
France
13.2
2.4
Europe ex UK
Netherlands
8.2
1.4
Europe ex UK
Germany
5.1
2.2
Europe ex UK
Italy
4.3
0.8
Europe ex UK
Spain
3.8
1.0
Europe ex UK
Canada
3.4
3.5
North America
Taiwan
2.8
Asia Pacific ex Japan
Switzerland
2.6
2.3
Europe ex UK
Top 10 Countries
Fund (%)
United States
27.3
United Kingdom
13.6
France
13.2
Netherlands
8.2
Germany
5.1
Italy
4.3
Spain
3.8
Canada
3.4
Taiwan
2.8
Switzerland
2.6
Capitalization
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Large Cap (> $12 B)
95.8
98.8
Mid Cap ($2.5 to $12 B)
2.3
1.2
Small Cap (< $2.5 B)
1.9
Capitalization
Fund (%)
Large Cap (> $12 B)
95.8
Mid Cap ($2.5 to $12 B)
2.3
Small Cap (< $2.5 B)
1.9
Portfolio Managers

Portfolio Managers

Matt Burdett

Head of Equities, Portfolio Manager and Managing Director
Matt Burdett is head of equities and a portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager. Matt was named a managing director and was promoted to portfolio manager in 2018 and to head of equities in 2024. Matt spent several years as a senior vice president and portfolio manager at PIMCO,…
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Brian McMahon

Vice Chairman, Chief Investment Strategist, Portfolio Manager and Managing Director
Brian McMahon is chief investment strategist and a portfolio manager for Thornburg Investment Management. Brian is deeply respected for his market and investment insight and serves as a key voice for the investment team and Thornburg clients. He also co-manages Thornburg’s global equity portfolios and serves as vice chairman of Thornburg. Brian joined Thornburg in 1984 as chief investment officer;…
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Portfolio managers are supported by the entire Thornburg investment team.

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