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Thornburg Limited Term U.S. Government Fund

Morningstar Rating  • Info

Overall Morningstar Rating among 90 Short Government funds, based on risk-adjusted returns for class C shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 1 star, 1 star and 1 star among 90, 85 and 76 funds, as of 31 Oct 2024.

As of 31 Oct 2024
Fund Assets
$130.1 M
As of 31 Oct 2024
NAV
$12.10
As of 6 Dec 2024
Change
$0.02
As of 6 Dec 2024
YTD NAV Performance
3.45%
As of 6 Dec 2024
Asset Category:
Global Fixed Income
Fund Benchmark:
Bloomberg U.S. Government Intermediate Index

Portfolio Managers

Portfolio Manager and Managing Director
Head of Fixed Income and Managing Director
Overview

Overview

Why Invest in This Fund?

 

  • Actively managed portfolio of high-quality short- to intermediate-term obligations issued by the U.S. government, designed to exhibit low or negative correlation to equities and low share price volatility.
  • Proven bottom-up fundamental approach focused on investing in short- to intermediate-term obligations issued by the U.S. government and its agencies with an average maturity of five years or less.
  • Seeks provide consistent income with the preservation of capital and lower volatility relative to core bond strategies.

Investment Objective

The fund’s goal is to provide investors as high a level of current income as is consistent with safety of capital. The fund also seeks to reduce changes in its share price compared to longer term portfolios.

Investment Approach

The Fund is an actively managed portfolio of short and intermediate obligations issued by the U.S. government, its agencies or instrumentalities, with a weighted average maturity of less than five years. The fund seeks to provide income consistent with the preservation of capital and lower volatility relative to core bond strategies

Performance

Performance

Returns

(As of 30 Sep 2024)
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
3.88
8.32
-0.48
0.07
0.55
2.96
Total Return without Sales Charge (%)
4.38
8.82
-0.48
0.07
0.55
2.96
Bloomberg U.S. Government Intermediate Index (%)
4.19
8.33
-0.10
0.84
1.50
4.73
Morningstar Category Avg. (%)
4.15
7.11
0.86
1.12
1.2
Morningstar Quartile
1
4
4
4
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
2.65
5.12
-0.75
-0.19
0.35
2.90
Total Return without Sales Charge (%)
3.15
5.62
-0.75
-0.19
0.35
2.90
Bloomberg U.S. Government Intermediate Index (%)
3.02
5.17
-0.37
0.60
1.27
4.68
Morningstar Category Avg. (%)
3.36
6.25
0.71
0.91
1.08
Morningstar Quartile
1
4
4
4
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
3.88
8.32
-1.42
0.33
5.62
140.23
Total Return without Sales Charge (%)
4.38
8.82
-1.42
0.33
5.62
140.23
Bloomberg U.S. Government Intermediate Index (%)
4.19
8.33
-0.30
4.25
16.09
449.65
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
2.65
5.12
-2.24
-0.95
3.56
137.42
Total Return without Sales Charge (%)
3.15
5.62
-2.24
-0.95
3.56
137.42
Bloomberg U.S. Government Intermediate Index (%)
3.02
5.17
-1.11
3.03
13.42
443.48
2018
2019
2020
2021
2022
2023
Total Return with Sales Charge (%)
0.00
2.77
2.96
-2.67
-8.80
3.13
Bloomberg U.S. Government Intermediate Index (%)
1.43
5.20
5.73
-1.69
-7.73
4.30
Fund Fees

Fund Fees

(As of 1 Feb 2024)
Gross Expense Ratio (%)
1.56
Net Expense Ratio (%)
1.24
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 30 Nov 2024)
(Hypothetical Growth of $10,000 vs Bloomberg U.S. Government Intermediate Index)
Distributions

Distributions

(As of 29 Nov 2024)
Ex-Date
Payable Date
Total ($)
Income ($)
ST Cap Gains ($)
LT Cap Gains ($)
31 Jan 1994
31 Jan 1994
0
28 Feb 1994
28 Feb 1994
0
31 Mar 1994
31 Mar 1994
0
30 Apr 1994
30 Apr 1994
0
31 May 1994
31 May 1994
0
30 Jun 1994
30 Jun 1994
0
31 Jul 1994
31 Jul 1994
0
31 Aug 1994
31 Aug 1994
0
30 Sep 1994
30 Sep 1994
0.05898
0.05898
31 Oct 1994
31 Oct 1994
0.05516
0.05516
30 Nov 1994
30 Nov 1994
0.05560
0.05560
30 Dec 1994
31 Dec 1994
0.05777
0.05777
31 Jan 1995
31 Jan 1995
0.05914
0.05914
28 Feb 1995
28 Feb 1995
0.05764
0.05764
31 Mar 1995
31 Mar 1995
0.05963
0.05963
28 Apr 1995
30 Apr 1995
0.05800
0.05800
31 May 1995
31 May 1995
0.05788
0.05788
30 Jun 1995
30 Jun 1995
0.05722
0.05722
31 Jul 1995
31 Jul 1995
0.05779
0.05779
31 Aug 1995
31 Aug 1995
0.05780
0.05780
29 Sep 1995
30 Sep 1995
0.05776
0.05776
31 Oct 1995
31 Oct 1995
0.05893
0.05893
30 Nov 1995
30 Nov 1995
0.05834
0.05834
29 Dec 1995
31 Dec 1995
0.05823
0.05823
31 Jan 1996
31 Jan 1996
0.05906
0.05906
29 Feb 1996
29 Feb 1996
0.05834
0.05834
29 Mar 1996
31 Mar 1996
0.05954
0.05954
30 Apr 1996
30 Apr 1996
0.05894
0.05894
31 May 1996
31 May 1996
0.05884
0.05884
28 Jun 1996
30 Jun 1996
0.05875
0.05875
31 Jul 1996
31 Jul 1996
0.06006
0.06006
30 Aug 1996
31 Aug 1996
0.05980
0.05980
30 Sep 1996
30 Sep 1996
0.05971
0.05971
31 Oct 1996
31 Oct 1996
0.05949
0.05949
29 Nov 1996
30 Nov 1996
0.05874
0.05874
31 Dec 1996
31 Dec 1996
0.05888
0.05888
31 Jan 1997
31 Jan 1997
0.05903
0.05903
28 Feb 1997
28 Feb 1997
0.05681
0.05681
31 Mar 1997
31 Mar 1997
0.05879
0.05879
30 Apr 1997
30 Apr 1997
0.05806
0.05806
30 May 1997
31 May 1997
0.05833
0.05833
30 Jun 1997
30 Jun 1997
0.05757
0.05757
31 Jul 1997
31 Jul 1997
0.05732
0.05732
29 Aug 1997
31 Aug 1997
0.05706
0.05706
30 Sep 1997
30 Sep 1997
0.05641
0.05641
31 Oct 1997
31 Oct 1997
0.05535
0.05535
28 Nov 1997
30 Nov 1997
0.05453
0.05453
31 Dec 1997
31 Dec 1997
0.05489
0.05489
30 Jan 1998
31 Jan 1998
0.05484
0.05484
27 Feb 1998
28 Feb 1998
0.05283
0.05283
31 Mar 1998
31 Mar 1998
0.05433
0.05433
30 Apr 1998
30 Apr 1998
0.05349
0.05349
29 May 1998
31 May 1998
0.05366
0.05366
30 Jun 1998
30 Jun 1998
0.05271
0.05271
31 Jul 1998
31 Jul 1998
0.05278
0.05278
31 Aug 1998
31 Aug 1998
0.05217
0.05217
30 Sep 1998
30 Sep 1998
0.05188
0.05188
30 Oct 1998
31 Oct 1998
0.05106
0.05106
30 Nov 1998
30 Nov 1998
0.05071
0.05071
31 Dec 1998
31 Dec 1998
0.05040
0.05040
29 Jan 1999
31 Jan 1999
0.05013
0.05013
26 Feb 1999
28 Feb 1999
0.04930
0.04930
31 Mar 1999
31 Mar 1999
0.05014
0.05014
30 Apr 1999
30 Apr 1999
0.05000
0.05000
28 May 1999
31 May 1999
0.04999
0.04999
30 Jun 1999
30 Jun 1999
0.05028
0.05028
30 Jul 1999
31 Jul 1999
0.05033
0.05033
31 Aug 1999
31 Aug 1999
0.05067
0.05067
30 Sep 1999
30 Sep 1999
0.05071
0.05071
29 Oct 1999
31 Oct 1999
0.05095
0.05095
30 Nov 1999
30 Nov 1999
0.05076
0.05076
31 Dec 1999
31 Dec 1999
0.05174
0.05174
31 Jan 2000
31 Jan 2000
0.05209
0.05209
29 Feb 2000
29 Feb 2000
0.05274
0.05274
31 Mar 2000
31 Mar 2000
0.05313
0.05313
28 Apr 2000
30 Apr 2000
0.05244
0.05244
31 May 2000
31 May 2000
0.05290
0.05290
30 Jun 2000
30 Jun 2000
0.05318
0.05318
31 Jul 2000
31 Jul 2000
0.05334
0.05334
31 Aug 2000
31 Aug 2000
0.05390
0.05390
29 Sep 2000
30 Sep 2000
0.05345
0.05345
31 Oct 2000
31 Oct 2000
0.05313
0.05313
30 Nov 2000
30 Nov 2000
0.05349
0.05349
29 Dec 2000
31 Dec 2000
0.05409
0.05409
31 Jan 2001
31 Jan 2001
0.05341
0.05341
28 Feb 2001
28 Feb 2001
0.05339
0.05339
30 Mar 2001
31 Mar 2001
0.05079
0.05079
30 Apr 2001
30 Apr 2001
0.05108
0.05108
31 May 2001
31 May 2001
0.05206
0.05206
29 Jun 2001
30 Jun 2001
0.05130
0.05130
31 Jul 2001
31 Jul 2001
0.05056
0.05056
31 Aug 2001
31 Aug 2001
0.05056
0.05056
28 Sep 2001
30 Sep 2001
0.04563
0.04563
31 Oct 2001
31 Oct 2001
0.04631
0.04631
30 Nov 2001
30 Nov 2001
0.05134
0.05134
31 Dec 2001
31 Dec 2001
0.04051
0.04051
31 Jan 2002
31 Jan 2002
0.04260
0.04260
28 Feb 2002
28 Feb 2002
0.03722
0.03722
28 Mar 2002
31 Mar 2002
0.04674
0.04674
30 Apr 2002
30 Apr 2002
0.04892
0.04892
31 May 2002
31 May 2002
0.05130
0.05130
28 Jun 2002
30 Jun 2002
0.05091
0.05091
31 Jul 2002
31 Jul 2002
0.04048
0.04048
30 Aug 2002
31 Aug 2002
0.03899
0.03899
30 Sep 2002
30 Sep 2002
0.04215
0.04215
31 Oct 2002
31 Oct 2002
0.04482
0.04482
29 Nov 2002
30 Nov 2002
0.03949
0.03949
31 Dec 2002
31 Dec 2002
0.03937
0.03937
31 Jan 2003
31 Jan 2003
0.03370
0.03370
28 Feb 2003
28 Feb 2003
0.02564
0.02564
31 Mar 2003
31 Mar 2003
0.04049
0.04049
30 Apr 2003
30 Apr 2003
0.04972
0.04972
30 May 2003
31 May 2003
0.04215
0.04215
30 Jun 2003
30 Jun 2003
0.02814
0.02814
31 Jul 2003
31 Jul 2003
0.02855
0.02855
29 Aug 2003
31 Aug 2003
0.02854
0.02854
30 Sep 2003
30 Sep 2003
0.02780
0.02780
31 Oct 2003
31 Oct 2003
0.02737
0.02737
28 Nov 2003
30 Nov 2003
0.02774
0.02774
31 Dec 2003
31 Dec 2003
0.02801
0.02801
30 Jan 2004
31 Jan 2004
0.02648
0.02648
27 Feb 2004
29 Feb 2004
0.02661
0.02661
31 Mar 2004
31 Mar 2004
0.02798
0.02798
30 Apr 2004
30 Apr 2004
0.02768
0.02768
28 May 2004
31 May 2004
0.02564
0.02564
30 Jun 2004
30 Jun 2004
0.02450
0.02450
30 Jul 2004
31 Jul 2004
0.02556
0.02556
31 Aug 2004
31 Aug 2004
0.02516
0.02516
30 Sep 2004
30 Sep 2004
0.02145
0.02145
29 Oct 2004
31 Oct 2004
0.02152
0.02152
30 Nov 2004
30 Nov 2004
0.02384
0.02384
31 Dec 2004
31 Dec 2004
0.03332
0.03332
31 Jan 2005
31 Jan 2005
0.02326
0.02326
28 Feb 2005
28 Feb 2005
0.02317
0.02317
31 Mar 2005
31 Mar 2005
0.02460
0.02460
29 Apr 2005
30 Apr 2005
0.02444
0.02444
31 May 2005
31 May 2005
0.02555
0.02555
30 Jun 2005
30 Jun 2005
0.02500
0.02500
29 Jul 2005
31 Jul 2005
0.02600
0.02600
31 Aug 2005
31 Aug 2005
0.02606
0.02606
30 Sep 2005
30 Sep 2005
0.02638
0.02638
31 Oct 2005
31 Oct 2005
0.02625
0.02625
30 Nov 2005
30 Nov 2005
0.02683
0.02683
30 Dec 2005
31 Dec 2005
0.02781
0.02781
31 Jan 2006
31 Jan 2006
0.02372
0.02372
28 Feb 2006
28 Feb 2006
0.02372
0.02372
31 Mar 2006
31 Mar 2006
0.03002
0.03002
28 Apr 2006
30 Apr 2006
0.02734
0.02734
31 May 2006
31 May 2006
0.02981
0.02981
30 Jun 2006
30 Jun 2006
0.03201
0.03201
31 Jul 2006
31 Jul 2006
0.03146
0.03146
31 Aug 2006
31 Aug 2006
0.02885
0.02885
29 Sep 2006
30 Sep 2006
0.02896
0.02896
31 Oct 2006
31 Oct 2006
0.02961
0.02961
30 Nov 2006
30 Nov 2006
0.02534
0.02534
29 Dec 2006
31 Dec 2006
0.03263
0.03263
31 Jan 2007
31 Jan 2007
0.02865
0.02865
28 Feb 2007
28 Feb 2007
0.02864
0.02864
30 Mar 2007
31 Mar 2007
0.03270
0.03270
30 Apr 2007
30 Apr 2007
0.03042
0.03042
31 May 2007
31 May 2007
0.03274
0.03274
29 Jun 2007
30 Jun 2007
0.03293
0.03293
31 Jul 2007
31 Jul 2007
0.03413
0.03413
31 Aug 2007
31 Aug 2007
0.03412
0.03412
28 Sep 2007
30 Sep 2007
0.03638
0.03638
31 Oct 2007
31 Oct 2007
0.03476
0.03476
30 Nov 2007
30 Nov 2007
0.03470
0.03470
31 Dec 2007
31 Dec 2007
0.03459
0.03459
31 Jan 2008
31 Jan 2008
0.03387
0.03387
29 Feb 2008
29 Feb 2008
0.03440
0.03440
31 Mar 2008
31 Mar 2008
0.03207
0.03207
30 Apr 2008
30 Apr 2008
0.03272
0.03272
30 May 2008
31 May 2008
0.03379
0.03379
30 Jun 2008
30 Jun 2008
0.03509
0.03509
31 Jul 2008
31 Jul 2008
0.03453
0.03453
29 Aug 2008
31 Aug 2008
0.03627
0.03627
30 Sep 2008
30 Sep 2008
0.03600
0.03600
31 Oct 2008
31 Oct 2008
0.02532
0.02532
28 Nov 2008
30 Nov 2008
0.03265
0.03265
31 Dec 2008
31 Dec 2008
0.01429
0.01429
30 Jan 2009
31 Jan 2009
0.01414
0.01414
27 Feb 2009
28 Feb 2009
0.03097
0.03097
31 Mar 2009
31 Mar 2009
0.03765
0.03765
30 Apr 2009
30 Apr 2009
0.03982
0.03982
29 May 2009
31 May 2009
0.03831
0.03831
30 Jun 2009
30 Jun 2009
0.03915
0.03915
31 Jul 2009
31 Jul 2009
0.03962
0.03962
31 Aug 2009
31 Aug 2009
0.04364
0.04364
30 Sep 2009
30 Sep 2009
0.03389
0.03389
30 Oct 2009
31 Oct 2009
0.03355
0.03355
19 Nov 2009
19 Nov 2009
0.06188
0.00000
0.06188
30 Nov 2009
30 Nov 2009
0.03289
0.03289
31 Dec 2009
31 Dec 2009
0.04615
0.04615
29 Jan 2010
31 Jan 2010
0.03143
0.03143
26 Feb 2010
28 Feb 2010
0.03160
0.03160
31 Mar 2010
31 Mar 2010
0.03218
0.03218
30 Apr 2010
30 Apr 2010
0.02833
0.02833
28 May 2010
31 May 2010
0.03017
0.03017
30 Jun 2010
30 Jun 2010
0.02836
0.02836
30 Jul 2010
31 Jul 2010
0.02567
0.02567
31 Aug 2010
31 Aug 2010
0.02588
0.02588
30 Sep 2010
30 Sep 2010
0.02973
0.02973
29 Oct 2010
31 Oct 2010
0.03051
0.03051
30 Nov 2010
30 Nov 2010
0.03138
0.03138
31 Dec 2010
31 Dec 2010
0.04589
0.04589
31 Jan 2011
31 Jan 2011
0.02849
0.02849
28 Feb 2011
28 Feb 2011
0.03079
0.03079
31 Mar 2011
31 Mar 2011
0.02978
0.02978
29 Apr 2011
30 Apr 2011
0.03079
0.03079
31 May 2011
31 May 2011
0.03361
0.03361
30 Jun 2011
30 Jun 2011
0.03031
0.03031
29 Jul 2011
31 Jul 2011
0.02813
0.02813
31 Aug 2011
31 Aug 2011
0.02465
0.02465
30 Sep 2011
30 Sep 2011
0.02309
0.02309
31 Oct 2011
31 Oct 2011
0.02373
0.02373
30 Nov 2011
30 Nov 2011
0.03241
0.03241
30 Dec 2011
31 Dec 2011
0.03437
0.03437
31 Jan 2012
31 Jan 2012
0.02450
0.02450
29 Feb 2012
29 Feb 2012
0.02269
0.02269
30 Mar 2012
31 Mar 2012
0.02439
0.02439
30 Apr 2012
30 Apr 2012
0.02667
0.02667
31 May 2012
31 May 2012
0.02730
0.02730
29 Jun 2012
30 Jun 2012
0.02370
0.02370
31 Jul 2012
31 Jul 2012
0.02243
0.02243
31 Aug 2012
31 Aug 2012
0.02738
0.02738
28 Sep 2012
30 Sep 2012
0.02768
0.02768
31 Oct 2012
31 Oct 2012
0.03258
0.03258
30 Nov 2012
30 Nov 2012
0.03142
0.03142
31 Dec 2012
31 Dec 2012
0.02839
0.02839
31 Jan 2013
31 Jan 2013
0.02638
0.02638
28 Feb 2013
28 Feb 2013
0.02342
0.02342
28 Mar 2013
31 Mar 2013
0.02575
0.02575
30 Apr 2013
30 Apr 2013
0.02452
0.02452
31 May 2013
31 May 2013
0.02370
0.02370
28 Jun 2013
30 Jun 2013
0.02119
0.02119
31 Jul 2013
31 Jul 2013
0.02015
0.02015
30 Aug 2013
31 Aug 2013
0.01269
0.01269
30 Sep 2013
30 Sep 2013
0.00564
0.00564
31 Oct 2013
31 Oct 2013
0.01139
0.01139
29 Nov 2013
30 Nov 2013
0.01152
0.01152
31 Dec 2013
31 Dec 2013
0.01281
0.01281
31 Jan 2014
31 Jan 2014
0.01558
0.01558
28 Feb 2014
28 Feb 2014
0.02376
0.02376
31 Mar 2014
31 Mar 2014
0.02938
0.02938
30 Apr 2014
30 Apr 2014
0.02087
0.02087
30 May 2014
31 May 2014
0.02197
0.02197
30 Jun 2014
30 Jun 2014
0.02075
0.02075
31 Jul 2014
31 Jul 2014
0.02109
0.02109
29 Aug 2014
31 Aug 2014
0.01898
0.01898
30 Sep 2014
30 Sep 2014
0.02002
0.02002
31 Oct 2014
31 Oct 2014
0.02195
0.02195
28 Nov 2014
30 Nov 2014
0.02314
0.02314
31 Dec 2014
31 Dec 2014
0.01456
0.01456
30 Jan 2015
31 Jan 2015
0.00824
0.00824
27 Feb 2015
28 Feb 2015
0.00814
0.00814
31 Mar 2015
31 Mar 2015
0.01006
0.01006
30 Apr 2015
30 Apr 2015
0.01714
0.01714
29 May 2015
31 May 2015
0.02066
0.02066
30 Jun 2015
30 Jun 2015
0.01716
0.01716
31 Jul 2015
31 Jul 2015
0.01682
0.01682
31 Aug 2015
31 Aug 2015
0.01612
0.01612
30 Sep 2015
30 Sep 2015
0.01371
0.01371
30 Oct 2015
31 Oct 2015
0.00850
0.00850
30 Nov 2015
30 Nov 2015
0.00627
0.00627
31 Dec 2015
31 Dec 2015
0.01744
0.01744
29 Jan 2016
31 Jan 2016
0.01271
0.01271
29 Feb 2016
29 Feb 2016
0.00890
0.00890
31 Mar 2016
31 Mar 2016
0.01561
0.01561
29 Apr 2016
30 Apr 2016
0.01491
0.01491
31 May 2016
31 May 2016
0.01786
0.01786
30 Jun 2016
30 Jun 2016
0.01878
0.01878
29 Jul 2016
31 Jul 2016
0.01729
0.01729
31 Aug 2016
31 Aug 2016
0.01621
0.01621
30 Sep 2016
30 Sep 2016
0.00524
0.00524
31 Oct 2016
31 Oct 2016
0.00921
0.00921
30 Nov 2016
30 Nov 2016
0.01212
0.01212
30 Dec 2016
31 Dec 2016
0.01538
0.01538
31 Jan 2017
31 Jan 2017
0.00874
0.00874
28 Feb 2017
28 Feb 2017
0.01139
0.01139
31 Mar 2017
31 Mar 2017
0.01651
0.01651
28 Apr 2017
30 Apr 2017
0.01413
0.01413
31 May 2017
31 May 2017
0.01131
0.01131
30 Jun 2017
30 Jun 2017
0.01353
0.01353
31 Jul 2017
31 Jul 2017
0.01158
0.01158
31 Aug 2017
31 Aug 2017
0.01071
0.01071
29 Sep 2017
30 Sep 2017
0.00855
0.00855
31 Oct 2017
31 Oct 2017
0.01443
0.01443
30 Nov 2017
30 Nov 2017
0.01778
0.01778
29 Dec 2017
31 Dec 2017
0.00975
0.00975
31 Jan 2018
31 Jan 2018
0.01095
0.01095
28 Feb 2018
28 Feb 2018
0.01116
0.01116
29 Mar 2018
31 Mar 2018
0.01833
0.01833
30 Apr 2018
30 Apr 2018
0.01806
0.01806
31 May 2018
31 May 2018
0.01517
0.01517
29 Jun 2018
30 Jun 2018
0.01827
0.01827
31 Jul 2018
31 Jul 2018
0.01853
0.01853
31 Aug 2018
31 Aug 2018
0.01500
0.01500
28 Sep 2018
30 Sep 2018
0.01226
0.01226
31 Oct 2018
31 Oct 2018
0.01330
0.01330
30 Nov 2018
30 Nov 2018
0.01501
0.01501
31 Dec 2018
31 Dec 2018
0.01598
0.01598
31 Jan 2019
31 Jan 2019
0.00914
0.00914
28 Feb 2019
28 Feb 2019
0.01000
0.01000
29 Mar 2019
31 Mar 2019
0.01652
0.01652
30 Apr 2019
30 Apr 2019
0.01828
0.01828
31 May 2019
31 May 2019
0.01846
0.01846
28 Jun 2019
30 Jun 2019
0.01846
0.01846
31 Jul 2019
31 Jul 2019
0.01668
0.01668
31 Aug 2019
31 Aug 2019
0.01530
0.01530
30 Sep 2019
30 Sep 2019
0.01676
0.01676
31 Oct 2019
31 Oct 2019
0.01737
0.01737
30 Nov 2019
30 Nov 2019
0.01624
0.01624
31 Dec 2019
31 Dec 2019
0.01614
0.01614
31 Jan 2020
31 Jan 2020
0.01440
0.01440
29 Feb 2020
29 Feb 2020
0.01473
0.01473
31 Mar 2020
31 Mar 2020
0.01589
0.01589
30 Apr 2020
30 Apr 2020
0.01556
0.01556
31 May 2020
31 May 2020
0.01116
0.01116
30 Jun 2020
30 Jun 2020
0.00905
0.00905
31 Jul 2020
31 Jul 2020
0.01077
0.01077
31 Aug 2020
31 Aug 2020
0.01246
0.01246
30 Sep 2020
30 Sep 2020
0.01204
0.01204
30 Oct 2020
31 Oct 2020
0.00976
0.00976
30 Nov 2020
30 Nov 2020
0.00893
0.00893
31 Dec 2020
31 Dec 2020
0.00768
0.00768
29 Jan 2021
31 Jan 2021
0.00664
0.00664
26 Feb 2021
28 Feb 2021
0.00862
0.00862
31 Mar 2021
31 Mar 2021
0.00829
0.00829
30 Apr 2021
30 Apr 2021
0.00949
0.00949
28 May 2021
31 May 2021
0.01029
0.01029
30 Jun 2021
30 Jun 2021
0.01072
0.01072
30 Jul 2021
31 Jul 2021
0.00984
0.00984
31 Aug 2021
31 Aug 2021
0.00974
0.00974
30 Sep 2021
30 Sep 2021
0.00844
0.00844
29 Oct 2021
31 Oct 2021
0.00668
0.00668
30 Nov 2021
30 Nov 2021
0.00770
0.00770
31 Dec 2021
31 Dec 2021
0.01052
0.01052
31 Jan 2022
31 Jan 2022
0.00878
0.00878
28 Feb 2022
28 Feb 2022
0.00892
0.00892
31 Mar 2022
31 Mar 2022
0.01227
0.01227
29 Apr 2022
30 Apr 2022
0.01362
0.01362
31 May 2022
31 May 2022
0.01811
0.01811
30 Jun 2022
30 Jun 2022
0.01250
0.01250
29 Jul 2022
31 Jul 2022
0.01748
0.01748
31 Aug 2022
31 Aug 2022
0.02304
0.02304
30 Sep 2022
30 Sep 2022
0.00931
0.00931
31 Oct 2022
31 Oct 2022
0.00984
0.00984
30 Nov 2022
30 Nov 2022
0.01514
0.01514
30 Dec 2022
31 Dec 2022
0.01820
0.01820
31 Jan 2023
31 Jan 2023
0.01064
0.01064
28 Feb 2023
28 Feb 2023
0.00893
0.00893
31 Mar 2023
31 Mar 2023
0.02597
0.02597
28 Apr 2023
30 Apr 2023
0.02373
0.02373
31 May 2023
31 May 2023
0.02012
0.02012
30 Jun 2023
30 Jun 2023
0.02253
0.02253
31 Jul 2023
31 Jul 2023
0.02016
0.02016
31 Aug 2023
31 Aug 2023
0.02171
0.02171
29 Sep 2023
30 Sep 2023
0.01990
0.01990
31 Oct 2023
31 Oct 2023
0.02461
0.02461
30 Nov 2023
30 Nov 2023
0.02389
0.02389
29 Dec 2023
31 Dec 2023
0.02016
0.02016
31 Jan 2024
31 Jan 2024
0.01797
0.01797
29 Feb 2024
29 Feb 2024
0.02056
0.02056
28 Mar 2024
31 Mar 2024
0.02781
0.02781
30 Apr 2024
30 Apr 2024
0.03013
0.03013
31 May 2024
31 May 2024
0.03083
0.03083
28 Jun 2024
30 Jun 2024
0.02537
0.02537
31 Jul 2024
31 Jul 2024
0.02215
0.02215
30 Aug 2024
31 Aug 2024
0.01881
0.01881
30 Sep 2024
30 Sep 2024
0.02169
0.02169
31 Oct 2024
31 Oct 2024
0.02198
0.02198
29 Nov 2024
30 Nov 2024
0.02397
0.02397
Fund Facts

Fund Facts

(As of 31 Oct 2024)
Net Fund Assets
$130.1 M
Benchmark
Bloomberg U.S. Government Intermediate Index
Morningstar Category
Short Government
Fund Symbol
LTUCX
Share Class
C
Share Class Inception Date
1 Sep 1994
Number of Holdings
155
Portfolio Turnover
32%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized)
2.37%
30-Day SEC Yield (Unsubsidized)
2.37%
Annualized Distribution Yield
2.38%
Characteristics

Characteristics

Portfolio

(As of 31 Oct 2024)
Portfolio
Benchmark
Effective Duration
4.1 Yrs
3.5 Yrs
Average Effective Maturity
5.4 Yrs
3.9 Yrs
Portfolio
Benchmark
Weighted Average Coupon
2.5%
3.0%
Yield to Worst
4.7%
4.2%
Risk & Return Profile

Risk & Return Profile

(As of 31 Oct 2024)
3y
5y
10y
Beta
1.07
0.97
0.88
R-Squared (%)
95.78
88.67
86.58
Standard Deviation (%)
4.99
4.00
3.02
Sharpe Ratio
-0.84
-0.55
-0.26
Information Ratio
0.06
-0.15
-0.29
Up Capture (%)
107.44
98.27
84.94
Down Capture (%)
105.87
102.06
89.35
Portfolio

Portfolio

Top Holdings

(As of 31 Oct 2024)
Name
Ticker/Symbol
Weight %
United States Treasury Inflation Indexed Bonds
91282CBF7
7.0
Fannie Mae Pool
3140XMZX7
4.4
United States Treasury Inflation Indexed Bonds
91282CEJ6
2.7
FARM 21-1 Mortgage Trust
30768WAA6
2.5
Caledonia Generating LLC
129268AB4
2.2
United States Treasury Inflation Indexed Bonds
912810PV4
1.9
Fannie Mae Pool
31418D2Y7
1.8
United States Treasury Note/Bond
91282CGQ8
1.8
United States Treasury Note/Bond
91282CHC8
1.8
Freddie Mac Seasoned Credit Risk Transfer Trust 2017-4
35563PDD8
1.7
Exposure Breakdown

Exposure Breakdown

(As of 31 Oct 2024)
Sector Allocation
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Mortgage Passthrough
34.0
Collateralized Mortgage Obligation
25.8
Treasury-Domestic
22.6
98.0
Commercial Mortgage Backed Security
4.6
Agency Debenture
4.4
2.0
Asset Backed Securities
4.1
Cash & Cash Equivalents
3.8
Corporate
0.7
Sector Allocation
Fund (%)
Mortgage Passthrough
34.0
Collateralized Mortgage Obligation
25.8
Treasury-Domestic
22.6
Commercial Mortgage Backed Security
4.6
Agency Debenture
4.4
Asset Backed Securities
4.1
Cash & Cash Equivalents
3.8
Corporate
0.7
Credit Quality
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
U.S. Government
96.2
100.0
Cash & Cash Equivalents
3.8
Credit Quality
Fund (%)
U.S. Government
96.2
Cash & Cash Equivalents
3.8
Maturity
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Year 1
4.3
1.8
Year 2
5.1
24.1
Year 3
14.0
17.7
Year 4
9.3
14.3
Year 5
16.2
14.7
Year 6
8.0
6.8
Year 7
7.7
8.5
Year 8
2.7
3.7
Year 9
9.3
4.0
Year 10+
19.6
4.4
Cash
3.8
Maturity
Fund (%)
Year 1
4.3
Year 2
5.1
Year 3
14.0
Year 4
9.3
Year 5
16.2
Year 6
8.0
Year 7
7.7
Year 8
2.7
Year 9
9.3
Year 10+
19.6
Cash
3.8
Portfolio Managers

Portfolio Managers

Lon Erickson, CFA

Lon Erickson, CFA

Portfolio Manager and Managing Director
Lon Erickson is portfolio manager for Thornburg Investment Management. He joined Thornburg in 2008 and was named a managing director and was promoted to portfolio manager in 2010. Prior to joining Thornburg Investment Management, Lon spent almost 11 years as an analyst for State Farm Insurance in the equity and corporate bond departments. Lon earned a bachelor’s degree in business…
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Christian Hoffmann, CFA

Christian Hoffmann, CFA

Head of Fixed Income and Managing Director
Christian Hoffmann is head of fixed income and a portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as a fixed income analyst and was promoted to associate portfolio manager in 2014. Christian was named a managing director in 2017, was promoted to portfolio manager in 2018, and to head of fixed income in 2024. Prior to…
Learn More

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