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Welcome to Thornburg

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The content on this website is intended for institutional and professional investors in the United States only and is not suitable for individual investors or non-U.S. entities. Institutional and professional investors include pension funds, investment companies registered under the Investment Company Act of 1940, financial intermediaries, consultants, endowments and foundations, and investment advisors registered under the Investment Advisors Act of 1940.

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Fund Operations
800.847.0200

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Thornburg Limited Term Income Fund

Morningstar Rating  • Info

Overall Morningstar Rating among 516 Short-Term Bond funds, based on risk-adjusted returns for class C shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 2 stars, 2 stars and 3 stars among 516, 486 and 367 funds, as of 31 Oct 2024.

As of 31 Oct 2024
Fund Assets
$6.3 B
As of 31 Oct 2024
NAV
$12.99
As of 9 Dec 2024
Change
$-0.02
As of 9 Dec 2024
YTD NAV Performance
4.93%
As of 9 Dec 2024
Asset Category:
Global Fixed Income
Fund Benchmark:
Bloomberg Intermediate U.S. Government/Credit Index

Portfolio Managers

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

Consistent Outperformance vs. Peers

The fund has navigated interest rate cycles and market volatility while delivering income and consistent total return over time versus peers. THIIX also has a history of providing:

  • Core Bond Like Returns with Less Volatility
  • Superior Risk-Adjust Returns
  • Consistent Outperformance versus Peers

To learn more, download our client-approved brochure or continue to explore the rest of the page.

Download Now

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted. For performance current to the most recent month end, visit thornburg.com or call 877-215-1330. Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

LTI Batting Average-3Q24
Overview

Overview

 

Why Invest in This Fund?

 

  • Flexible, active high-quality portfolio that consists primarily of U.S short- and intermediate-term investment grade bonds.
  • Proven bottom-up fundamental approach that seeks to identify attractive fixed income opportunities on a relative value basis.
  • Highly active strategy that seeks to deliver total return through income and preserve capital with moderate interest rate exposure.

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 employs a flexible and highly active approach to construct a portfolio of U.S. dollar–denominated short/intermediate investment grade bonds. It is designed for stability, capital preservation and moderate interest rate exposure. The fund seeks to drive returns through income and superior relative value issue selection in a dynamically changing fixed income environment.

Performance

Performance

Returns

(As of 30 Sep 2024)
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
4.78
9.32
0.87
1.83
2.00
4.06
Total Return without Sales Charge (%)
5.28
9.82
0.87
1.83
2.00
4.06
Bloomberg Intermediate U.S. Government/Credit Index (%)
4.68
9.45
0.17
1.26
1.96
4.27
Morningstar Category Avg. (%)
5.18
8.71
1.69
2.07
1.98
Morningstar Quartile
1
4
3
2
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
4.26
6.78
0.87
1.68
1.88
4.02
Total Return without Sales Charge (%)
4.76
7.28
0.87
1.68
1.88
4.02
Bloomberg Intermediate U.S. Government/Credit Index (%)
3.64
6.05
-0.01
1.01
1.74
4.22
Morningstar Category Avg. (%)
4.48
8.04
1.56
1.86
1.89
Morningstar Quartile
1
4
3
3
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
4.78
9.32
2.64
9.47
21.89
231.24
Total Return without Sales Charge (%)
5.28
9.82
2.64
9.47
21.89
231.24
Bloomberg Intermediate U.S. Government/Credit Index (%)
4.68
9.45
0.52
6.44
21.47
281.69
YTD
1y
3y
5y
10y
Inception
Total Return with Sales Charge (%)
4.26
6.78
2.63
8.69
20.48
229.59
Total Return without Sales Charge (%)
4.76
7.28
2.63
8.69
20.48
229.59
Bloomberg Intermediate U.S. Government/Credit Index (%)
3.64
6.05
-0.03
5.13
18.83
277.92
2018
2019
2020
2021
2022
2023
Total Return with Sales Charge (%)
0.28
4.64
6.64
-1.78
-8.00
5.53
Bloomberg Intermediate U.S. Government/Credit Index (%)
0.88
6.80
6.43
-1.44
-8.23
5.24
Fund Fees

Fund Fees

(As of 1 Feb 2024)
Gross Expense Ratio (%)
1.01
Net Expense Ratio (%)
1.01
Hypothetical Growth of $10,000

Hypothetical Growth of $10,000

(As of 30 Nov 2024)
(Hypothetical Growth of $10,000 vs Bloomberg Intermediate U.S. Government/Credit 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
0.05407
0.05407
31 Oct 1994
31 Oct 1994
0.04846
0.04846
30 Nov 1994
30 Nov 1994
0.05805
0.05805
30 Dec 1994
31 Dec 1994
0.05975
0.05975
31 Jan 1995
31 Jan 1995
0.05904
0.05904
28 Feb 1995
28 Feb 1995
0.05927
0.05927
31 Mar 1995
31 Mar 1995
0.06039
0.06039
28 Apr 1995
30 Apr 1995
0.06003
0.06003
31 May 1995
31 May 1995
0.05951
0.05951
30 Jun 1995
30 Jun 1995
0.05859
0.05859
31 Jul 1995
31 Jul 1995
0.05979
0.05979
31 Aug 1995
31 Aug 1995
0.06003
0.06003
29 Sep 1995
30 Sep 1995
0.05948
0.05948
31 Oct 1995
31 Oct 1995
0.06045
0.06045
30 Nov 1995
30 Nov 1995
0.05991
0.05991
29 Dec 1995
31 Dec 1995
0.05941
0.05941
31 Jan 1996
31 Jan 1996
0.05944
0.05944
29 Feb 1996
29 Feb 1996
0.05856
0.05856
29 Mar 1996
31 Mar 1996
0.05973
0.05973
30 Apr 1996
30 Apr 1996
0.05927
0.05927
31 May 1996
31 May 1996
0.05926
0.05926
28 Jun 1996
30 Jun 1996
0.05903
0.05903
31 Jul 1996
31 Jul 1996
0.05970
0.05970
30 Aug 1996
31 Aug 1996
0.05947
0.05947
30 Sep 1996
30 Sep 1996
0.06029
0.06029
31 Oct 1996
31 Oct 1996
0.05988
0.05988
29 Nov 1996
30 Nov 1996
0.05927
0.05927
31 Dec 1996
31 Dec 1996
0.06046
0.06046
31 Jan 1997
31 Jan 1997
0.06051
0.06051
28 Feb 1997
28 Feb 1997
0.05859
0.05859
31 Mar 1997
31 Mar 1997
0.05960
0.05960
30 Apr 1997
30 Apr 1997
0.05911
0.05911
30 May 1997
31 May 1997
0.05896
0.05896
30 Jun 1997
30 Jun 1997
0.05858
0.05858
31 Jul 1997
31 Jul 1997
0.05889
0.05889
29 Aug 1997
31 Aug 1997
0.05820
0.05820
30 Sep 1997
30 Sep 1997
0.05661
0.05661
31 Oct 1997
31 Oct 1997
0.05772
0.05772
28 Nov 1997
30 Nov 1997
0.05693
0.05693
31 Dec 1997
31 Dec 1997
0.05529
0.05529
30 Jan 1998
31 Jan 1998
0.05602
0.05602
27 Feb 1998
28 Feb 1998
0.05625
0.05625
31 Mar 1998
31 Mar 1998
0.05518
0.05518
30 Apr 1998
30 Apr 1998
0.05442
0.05442
29 May 1998
31 May 1998
0.05464
0.05464
30 Jun 1998
30 Jun 1998
0.05470
0.05470
31 Jul 1998
31 Jul 1998
0.05444
0.05444
31 Aug 1998
31 Aug 1998
0.05515
0.05515
30 Sep 1998
30 Sep 1998
0.05421
0.05421
30 Oct 1998
31 Oct 1998
0.05352
0.05352
30 Nov 1998
30 Nov 1998
0.05341
0.05341
31 Dec 1998
31 Dec 1998
0.05365
0.05365
29 Jan 1999
31 Jan 1999
0.05351
0.05351
26 Feb 1999
28 Feb 1999
0.05477
0.05477
31 Mar 1999
31 Mar 1999
0.05370
0.05370
30 Apr 1999
30 Apr 1999
0.05322
0.05322
28 May 1999
31 May 1999
0.05348
0.05348
30 Jun 1999
30 Jun 1999
0.05382
0.05382
30 Jul 1999
31 Jul 1999
0.05302
0.05302
31 Aug 1999
31 Aug 1999
0.05338
0.05338
30 Sep 1999
30 Sep 1999
0.05289
0.05289
29 Oct 1999
31 Oct 1999
0.05371
0.05371
30 Nov 1999
30 Nov 1999
0.05452
0.05452
31 Dec 1999
31 Dec 1999
0.05559
0.05559
31 Jan 2000
31 Jan 2000
0.05493
0.05493
29 Feb 2000
29 Feb 2000
0.05617
0.05617
31 Mar 2000
31 Mar 2000
0.05651
0.05651
28 Apr 2000
30 Apr 2000
0.05847
0.05847
31 May 2000
31 May 2000
0.05849
0.05849
30 Jun 2000
30 Jun 2000
0.05885
0.05885
31 Jul 2000
31 Jul 2000
0.05864
0.05864
31 Aug 2000
31 Aug 2000
0.05860
0.05860
29 Sep 2000
30 Sep 2000
0.05886
0.05886
31 Oct 2000
31 Oct 2000
0.05851
0.05851
30 Nov 2000
30 Nov 2000
0.05857
0.05857
29 Dec 2000
31 Dec 2000
0.05805
0.05805
31 Jan 2001
31 Jan 2001
0.05810
0.05810
28 Feb 2001
28 Feb 2001
0.05807
0.05807
30 Mar 2001
31 Mar 2001
0.05780
0.05780
30 Apr 2001
30 Apr 2001
0.05716
0.05716
31 May 2001
31 May 2001
0.05664
0.05664
29 Jun 2001
30 Jun 2001
0.05743
0.05743
31 Jul 2001
31 Jul 2001
0.05513
0.05513
31 Aug 2001
31 Aug 2001
0.05345
0.05345
28 Sep 2001
30 Sep 2001
0.05170
0.05170
31 Oct 2001
31 Oct 2001
0.05121
0.05121
30 Nov 2001
30 Nov 2001
0.05065
0.05065
31 Dec 2001
31 Dec 2001
0.04822
0.04822
31 Jan 2002
31 Jan 2002
0.04803
0.04803
28 Feb 2002
28 Feb 2002
0.04622
0.04622
28 Mar 2002
31 Mar 2002
0.04731
0.04731
30 Apr 2002
30 Apr 2002
0.04736
0.04736
31 May 2002
31 May 2002
0.04722
0.04722
28 Jun 2002
30 Jun 2002
0.04657
0.04657
31 Jul 2002
31 Jul 2002
0.04339
0.04339
30 Aug 2002
31 Aug 2002
0.04200
0.04200
30 Sep 2002
30 Sep 2002
0.04312
0.04312
31 Oct 2002
31 Oct 2002
0.04321
0.04321
29 Nov 2002
30 Nov 2002
0.04227
0.04227
31 Dec 2002
31 Dec 2002
0.03976
0.03976
31 Jan 2003
31 Jan 2003
0.03710
0.03710
28 Feb 2003
28 Feb 2003
0.03478
0.03478
31 Mar 2003
31 Mar 2003
0.03790
0.03790
30 Apr 2003
30 Apr 2003
0.04134
0.04134
30 May 2003
31 May 2003
0.03996
0.03996
30 Jun 2003
30 Jun 2003
0.03497
0.03497
31 Jul 2003
31 Jul 2003
0.03537
0.03537
29 Aug 2003
31 Aug 2003
0.03718
0.03718
30 Sep 2003
30 Sep 2003
0.03774
0.03774
31 Oct 2003
31 Oct 2003
0.03499
0.03499
28 Nov 2003
30 Nov 2003
0.03435
0.03435
31 Dec 2003
31 Dec 2003
0.03274
0.03274
30 Jan 2004
31 Jan 2004
0.03220
0.03220
27 Feb 2004
29 Feb 2004
0.03303
0.03303
31 Mar 2004
31 Mar 2004
0.03130
0.03130
30 Apr 2004
30 Apr 2004
0.03206
0.03206
28 May 2004
31 May 2004
0.03153
0.03153
30 Jun 2004
30 Jun 2004
0.03201
0.03201
30 Jul 2004
31 Jul 2004
0.03230
0.03230
31 Aug 2004
31 Aug 2004
0.03353
0.03353
30 Sep 2004
30 Sep 2004
0.03522
0.03522
29 Oct 2004
31 Oct 2004
0.03415
0.03415
30 Nov 2004
30 Nov 2004
0.03378
0.03378
31 Dec 2004
31 Dec 2004
0.03638
0.03638
31 Jan 2005
31 Jan 2005
0.03396
0.03396
28 Feb 2005
28 Feb 2005
0.03527
0.03527
31 Mar 2005
31 Mar 2005
0.03435
0.03435
29 Apr 2005
30 Apr 2005
0.03521
0.03521
31 May 2005
31 May 2005
0.03436
0.03436
30 Jun 2005
30 Jun 2005
0.03512
0.03512
29 Jul 2005
31 Jul 2005
0.03559
0.03559
31 Aug 2005
31 Aug 2005
0.05328
0.05328
30 Sep 2005
30 Sep 2005
0.03810
0.03810
31 Oct 2005
31 Oct 2005
0.03591
0.03591
30 Nov 2005
30 Nov 2005
0.03806
0.03806
30 Dec 2005
31 Dec 2005
0.03889
0.03889
31 Jan 2006
31 Jan 2006
0.04020
0.04020
28 Feb 2006
28 Feb 2006
0.03953
0.03953
31 Mar 2006
31 Mar 2006
0.03815
0.03815
28 Apr 2006
30 Apr 2006
0.03915
0.03915
31 May 2006
31 May 2006
0.03957
0.03957
30 Jun 2006
30 Jun 2006
0.03979
0.03979
31 Jul 2006
31 Jul 2006
0.03994
0.03994
31 Aug 2006
31 Aug 2006
0.04075
0.04075
29 Sep 2006
30 Sep 2006
0.04180
0.04180
31 Oct 2006
31 Oct 2006
0.04142
0.04142
30 Nov 2006
30 Nov 2006
0.04032
0.04032
29 Dec 2006
31 Dec 2006
0.04160
0.04160
31 Jan 2007
31 Jan 2007
0.03676
0.03676
28 Feb 2007
28 Feb 2007
0.03744
0.03744
30 Mar 2007
31 Mar 2007
0.03738
0.03738
30 Apr 2007
30 Apr 2007
0.03937
0.03937
31 May 2007
31 May 2007
0.03866
0.03866
29 Jun 2007
30 Jun 2007
0.04027
0.04027
31 Jul 2007
31 Jul 2007
0.04088
0.04088
31 Aug 2007
31 Aug 2007
0.04027
0.04027
28 Sep 2007
30 Sep 2007
0.04004
0.04004
31 Oct 2007
31 Oct 2007
0.04048
0.04048
30 Nov 2007
30 Nov 2007
0.04080
0.04080
31 Dec 2007
31 Dec 2007
0.04179
0.04179
31 Jan 2008
31 Jan 2008
0.04151
0.04151
29 Feb 2008
29 Feb 2008
0.04211
0.04211
31 Mar 2008
31 Mar 2008
0.04337
0.04337
30 Apr 2008
30 Apr 2008
0.04308
0.04308
30 May 2008
31 May 2008
0.04244
0.04244
30 Jun 2008
30 Jun 2008
0.04313
0.04313
31 Jul 2008
31 Jul 2008
0.04333
0.04333
29 Aug 2008
31 Aug 2008
0.04862
0.04862
30 Sep 2008
30 Sep 2008
0.04407
0.04407
31 Oct 2008
31 Oct 2008
0.04806
0.04806
28 Nov 2008
30 Nov 2008
0.04960
0.04960
31 Dec 2008
31 Dec 2008
0.04824
0.04824
30 Jan 2009
31 Jan 2009
0.04703
0.04703
27 Feb 2009
28 Feb 2009
0.04759
0.04759
31 Mar 2009
31 Mar 2009
0.04734
0.04734
30 Apr 2009
30 Apr 2009
0.04855
0.04855
29 May 2009
31 May 2009
0.04887
0.04887
30 Jun 2009
30 Jun 2009
0.04815
0.04815
31 Jul 2009
31 Jul 2009
0.04722
0.04722
31 Aug 2009
31 Aug 2009
0.04681
0.04681
30 Sep 2009
30 Sep 2009
0.04764
0.04764
30 Oct 2009
31 Oct 2009
0.04600
0.04600
30 Nov 2009
30 Nov 2009
0.04440
0.04440
31 Dec 2009
31 Dec 2009
0.04337
0.04337
29 Jan 2010
31 Jan 2010
0.04236
0.04236
26 Feb 2010
28 Feb 2010
0.04231
0.04231
31 Mar 2010
31 Mar 2010
0.03923
0.03923
30 Apr 2010
30 Apr 2010
0.03894
0.03894
28 May 2010
31 May 2010
0.03729
0.03729
30 Jun 2010
30 Jun 2010
0.03737
0.03737
30 Jul 2010
31 Jul 2010
0.03713
0.03713
31 Aug 2010
31 Aug 2010
0.03813
0.03813
30 Sep 2010
30 Sep 2010
0.03839
0.03839
29 Oct 2010
31 Oct 2010
0.03769
0.03769
19 Nov 2010
19 Nov 2010
0.04067
0.00000
0.04067
30 Nov 2010
30 Nov 2010
0.03799
0.03799
31 Dec 2010
31 Dec 2010
0.03705
0.03705
31 Jan 2011
31 Jan 2011
0.03752
0.03752
28 Feb 2011
28 Feb 2011
0.03854
0.03854
31 Mar 2011
31 Mar 2011
0.03635
0.03635
29 Apr 2011
30 Apr 2011
0.03586
0.03586
31 May 2011
31 May 2011
0.03428
0.03428
30 Jun 2011
30 Jun 2011
0.03492
0.03492
29 Jul 2011
31 Jul 2011
0.03403
0.03403
31 Aug 2011
31 Aug 2011
0.03420
0.03420
30 Sep 2011
30 Sep 2011
0.03478
0.03478
31 Oct 2011
31 Oct 2011
0.03504
0.03504
18 Nov 2011
18 Nov 2011
0.09254
0.01648
0.07606
30 Nov 2011
30 Nov 2011
0.03799
0.03799
30 Dec 2011
31 Dec 2011
0.03800
0.03800
31 Jan 2012
31 Jan 2012
0.03261
0.03261
29 Feb 2012
29 Feb 2012
0.03335
0.03335
30 Mar 2012
31 Mar 2012
0.03168
0.03168
30 Apr 2012
30 Apr 2012
0.03116
0.03116
31 May 2012
31 May 2012
0.03086
0.03086
29 Jun 2012
30 Jun 2012
0.03017
0.03017
31 Jul 2012
31 Jul 2012
0.02915
0.02915
31 Aug 2012
31 Aug 2012
0.03003
0.03003
28 Sep 2012
30 Sep 2012
0.02953
0.02953
31 Oct 2012
31 Oct 2012
0.02965
0.02965
20 Nov 2012
20 Nov 2012
0.05979
0.03515
0.02464
30 Nov 2012
30 Nov 2012
0.02923
0.02923
31 Dec 2012
31 Dec 2012
0.02756
0.02756
31 Jan 2013
31 Jan 2013
0.02739
0.02739
28 Feb 2013
28 Feb 2013
0.02583
0.02583
28 Mar 2013
31 Mar 2013
0.02392
0.02392
30 Apr 2013
30 Apr 2013
0.02377
0.02377
31 May 2013
31 May 2013
0.02371
0.02371
28 Jun 2013
30 Jun 2013
0.02258
0.02258
31 Jul 2013
31 Jul 2013
0.02296
0.02296
30 Aug 2013
31 Aug 2013
0.02295
0.02295
30 Sep 2013
30 Sep 2013
0.02411
0.02411
31 Oct 2013
31 Oct 2013
0.02144
0.02144
19 Nov 2013
19 Nov 2013
0.10996
0.03557
0.07439
29 Nov 2013
30 Nov 2013
0.02229
0.02229
31 Dec 2013
31 Dec 2013
0.02413
0.02413
31 Jan 2014
31 Jan 2014
0.02282
0.02282
28 Feb 2014
28 Feb 2014
0.02419
0.02419
31 Mar 2014
31 Mar 2014
0.02372
0.02372
30 Apr 2014
30 Apr 2014
0.02415
0.02415
30 May 2014
31 May 2014
0.02373
0.02373
30 Jun 2014
30 Jun 2014
0.02135
0.02135
31 Jul 2014
31 Jul 2014
0.01994
0.01994
29 Aug 2014
31 Aug 2014
0.01981
0.01981
30 Sep 2014
30 Sep 2014
0.01960
0.01960
31 Oct 2014
31 Oct 2014
0.01911
0.01911
19 Nov 2014
19 Nov 2014
0.07097
0.01311
0.05786
28 Nov 2014
30 Nov 2014
0.01962
0.01962
31 Dec 2014
31 Dec 2014
0.02001
0.02001
30 Jan 2015
31 Jan 2015
0.02067
0.02067
27 Feb 2015
28 Feb 2015
0.02141
0.02141
31 Mar 2015
31 Mar 2015
0.02083
0.02083
30 Apr 2015
30 Apr 2015
0.01975
0.01975
29 May 2015
31 May 2015
0.01920
0.01920
30 Jun 2015
30 Jun 2015
0.02004
0.02004
31 Jul 2015
31 Jul 2015
0.01867
0.01867
31 Aug 2015
31 Aug 2015
0.01952
0.01952
30 Sep 2015
30 Sep 2015
0.02016
0.02016
30 Oct 2015
31 Oct 2015
0.01777
0.01777
30 Nov 2015
30 Nov 2015
0.01759
0.01759
31 Dec 2015
31 Dec 2015
0.01789
0.01789
29 Jan 2016
31 Jan 2016
0.01725
0.01725
29 Feb 2016
29 Feb 2016
0.01892
0.01892
31 Mar 2016
31 Mar 2016
0.02040
0.02040
29 Apr 2016
30 Apr 2016
0.02056
0.02056
31 May 2016
31 May 2016
0.02032
0.02032
30 Jun 2016
30 Jun 2016
0.01967
0.01967
29 Jul 2016
31 Jul 2016
0.01862
0.01862
31 Aug 2016
31 Aug 2016
0.01780
0.01780
30 Sep 2016
30 Sep 2016
0.01591
0.01591
31 Oct 2016
31 Oct 2016
0.01631
0.01631
30 Nov 2016
30 Nov 2016
0.01758
0.01758
30 Dec 2016
31 Dec 2016
0.01783
0.01783
31 Jan 2017
31 Jan 2017
0.01714
0.01714
28 Feb 2017
28 Feb 2017
0.01787
0.01787
31 Mar 2017
31 Mar 2017
0.01816
0.01816
28 Apr 2017
30 Apr 2017
0.01874
0.01874
31 May 2017
31 May 2017
0.01775
0.01775
30 Jun 2017
30 Jun 2017
0.01850
0.01850
31 Jul 2017
31 Jul 2017
0.01831
0.01831
31 Aug 2017
31 Aug 2017
0.01889
0.01889
29 Sep 2017
30 Sep 2017
0.01923
0.01923
31 Oct 2017
31 Oct 2017
0.01911
0.01911
30 Nov 2017
30 Nov 2017
0.02024
0.02024
29 Dec 2017
31 Dec 2017
0.01906
0.01906
31 Jan 2018
31 Jan 2018
0.01967
0.01967
28 Feb 2018
28 Feb 2018
0.02086
0.02086
29 Mar 2018
31 Mar 2018
0.02212
0.02212
30 Apr 2018
30 Apr 2018
0.02273
0.02273
31 May 2018
31 May 2018
0.02313
0.02313
29 Jun 2018
30 Jun 2018
0.02451
0.02451
31 Jul 2018
31 Jul 2018
0.02404
0.02404
31 Aug 2018
31 Aug 2018
0.02364
0.02364
28 Sep 2018
30 Sep 2018
0.02342
0.02342
31 Oct 2018
31 Oct 2018
0.02455
0.02455
30 Nov 2018
30 Nov 2018
0.02540
0.02540
31 Dec 2018
31 Dec 2018
0.02594
0.02594
31 Jan 2019
31 Jan 2019
0.02537
0.02537
28 Feb 2019
28 Feb 2019
0.02549
0.02549
29 Mar 2019
31 Mar 2019
0.02621
0.02621
30 Apr 2019
30 Apr 2019
0.02633
0.02633
31 May 2019
31 May 2019
0.02598
0.02598
28 Jun 2019
30 Jun 2019
0.02630
0.02630
31 Jul 2019
31 Jul 2019
0.02539
0.02539
31 Aug 2019
31 Aug 2019
0.02415
0.02415
30 Sep 2019
30 Sep 2019
0.02459
0.02459
31 Oct 2019
31 Oct 2019
0.02250
0.02250
14 Nov 2019
14 Nov 2019
0.09516
0.06730
0.02786
30 Nov 2019
30 Nov 2019
0.02231
0.02231
31 Dec 2019
31 Dec 2019
0.02252
0.02252
31 Jan 2020
31 Jan 2020
0.02070
0.02070
29 Feb 2020
29 Feb 2020
0.01969
0.01969
31 Mar 2020
31 Mar 2020
0.02208
0.02208
30 Apr 2020
30 Apr 2020
0.02329
0.02329
31 May 2020
31 May 2020
0.02064
0.02064
30 Jun 2020
30 Jun 2020
0.01873
0.01873
31 Jul 2020
31 Jul 2020
0.01902
0.01902
31 Aug 2020
31 Aug 2020
0.01886
0.01886
30 Sep 2020
30 Sep 2020
0.01849
0.01849
30 Oct 2020
31 Oct 2020
0.01595
0.01595
19 Nov 2020
19 Nov 2020
0.16826
0.15003
0.01823
30 Nov 2020
30 Nov 2020
0.01429
0.01429
31 Dec 2020
31 Dec 2020
0.01323
0.01323
29 Jan 2021
31 Jan 2021
0.01226
0.01226
26 Feb 2021
28 Feb 2021
0.01352
0.01352
31 Mar 2021
31 Mar 2021
0.01269
0.01269
30 Apr 2021
30 Apr 2021
0.01323
0.01323
28 May 2021
31 May 2021
0.01300
0.01300
30 Jun 2021
30 Jun 2021
0.01284
0.01284
30 Jul 2021
31 Jul 2021
0.01207
0.01207
31 Aug 2021
31 Aug 2021
0.01237
0.01237
30 Sep 2021
30 Sep 2021
0.01173
0.01173
29 Oct 2021
31 Oct 2021
0.01080
0.01080
30 Nov 2021
30 Nov 2021
0.01161
0.01161
31 Dec 2021
31 Dec 2021
0.01284
0.01284
31 Jan 2022
31 Jan 2022
0.01192
0.01192
28 Feb 2022
28 Feb 2022
0.01259
0.01259
31 Mar 2022
31 Mar 2022
0.01487
0.01487
29 Apr 2022
30 Apr 2022
0.01680
0.01680
31 May 2022
31 May 2022
0.01943
0.01943
30 Jun 2022
30 Jun 2022
0.01915
0.01915
29 Jul 2022
31 Jul 2022
0.02313
0.02313
31 Aug 2022
31 Aug 2022
0.02798
0.02798
30 Sep 2022
30 Sep 2022
0.01992
0.01992
31 Oct 2022
31 Oct 2022
0.02109
0.02109
30 Nov 2022
30 Nov 2022
0.02452
0.02452
30 Dec 2022
31 Dec 2022
0.02798
0.02798
31 Jan 2023
31 Jan 2023
0.02157
0.02157
28 Feb 2023
28 Feb 2023
0.02058
0.02058
31 Mar 2023
31 Mar 2023
0.03278
0.03278
28 Apr 2023
30 Apr 2023
0.03258
0.03258
31 May 2023
31 May 2023
0.03176
0.03176
30 Jun 2023
30 Jun 2023
0.03239
0.03239
31 Jul 2023
31 Jul 2023
0.03075
0.03075
31 Aug 2023
31 Aug 2023
0.03221
0.03221
29 Sep 2023
30 Sep 2023
0.03143
0.03143
31 Oct 2023
31 Oct 2023
0.03547
0.03547
30 Nov 2023
30 Nov 2023
0.03377
0.03377
29 Dec 2023
31 Dec 2023
0.03170
0.03170
31 Jan 2024
31 Jan 2024
0.02941
0.02941
29 Feb 2024
29 Feb 2024
0.03182
0.03182
28 Mar 2024
31 Mar 2024
0.03762
0.03762
30 Apr 2024
30 Apr 2024
0.04048
0.04048
31 May 2024
31 May 2024
0.04242
0.04242
28 Jun 2024
30 Jun 2024
0.04083
0.04083
31 Jul 2024
31 Jul 2024
0.04053
0.04053
30 Aug 2024
31 Aug 2024
0.03930
0.03930
30 Sep 2024
30 Sep 2024
0.04158
0.04158
31 Oct 2024
31 Oct 2024
0.03729
0.03729
29 Nov 2024
30 Nov 2024
0.03740
0.03740
Fund Facts

Fund Facts

(As of 31 Oct 2024)
Net Fund Assets
$6.3 B
Benchmark
Bloomberg Intermediate U.S. Government/Credit Index
Morningstar Category
Short-Term Bond
Fund Symbol
THICX
Share Class
C
Share Class Inception Date
1 Sep 1994
Number of Holdings
660
Portfolio Turnover
59%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized)
3.30%
30-Day SEC Yield (Unsubsidized)
3.30%
Annualized Distribution Yield
3.46%
Characteristics

Characteristics

Portfolio

(As of 31 Oct 2024)
Portfolio
Benchmark
Effective Duration
3.4 Yrs
3.7 Yrs
Average Effective Maturity
4.4 Yrs
4.2 Yrs
Portfolio
Benchmark
Weighted Average Coupon
3.2%
3.3%
Yield to Worst
5.2%
4.4%
Risk & Return Profile

Risk & Return Profile

(As of 31 Oct 2024)
3y
5y
10y
Beta
0.83
0.88
0.81
R-Squared (%)
93.99
83.60
82.46
Standard Deviation (%)
4.28
3.95
2.97
Sharpe Ratio
-0.62
-0.10
0.23
Information Ratio
0.97
0.72
0.47
Up Capture (%)
93.13
103.87
92.80
Down Capture (%)
75.81
81.73
70.91
Portfolio

Portfolio

Top Holdings

(As of 31 Oct 2024)
Name
Ticker/Symbol
Weight %
United States Treasury Note/Bond
91282CFF3
3.6
United States Treasury Inflation Indexed Bonds
91282CBF7
1.7
United States Treasury Inflation Indexed Bonds
912810PV4
1.7
Freddie Mac Pool
3132E0T85
1.7
United States Treasury Inflation Indexed Bonds
91282CEJ6
1.7
Fannie Mae Pool
3140XMZX7
1.6
United States Treasury Note/Bond
91282CLF6
1.4
United States Treasury Inflation Indexed Bonds
91282CDX6
0.9
Rate Mortgage Trust 2022-J1
75410RAJ5
0.6
United States Treasury Note/Bond
91282CKQ3
0.6
Exposure Breakdown

Exposure Breakdown

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

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
Corporate
31.2
29.9
Collateralized Mortgage Obligation
20.7
Asset Backed Securities
13.5
0.0
Treasury-Domestic
13.1
63.8
Mortgage Passthrough
10.8
Cash & Cash Equivalents
6.2
Commercial Mortgage Backed Security
3.4
Preferred Stock
0.6
Agency Debenture
0.3
2.4
Treasury-Foreign
0.1
3.3
Municipals
0.1
0.7
Sector Allocation
Fund (%)
Corporate
31.2
Collateralized Mortgage Obligation
20.7
Asset Backed Securities
13.5
Treasury-Domestic
13.1
Mortgage Passthrough
10.8
Cash & Cash Equivalents
6.2
Commercial Mortgage Backed Security
3.4
Preferred Stock
0.6
Agency Debenture
0.3
Treasury-Foreign
0.1
Municipals
0.1
Credit Quality
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
10%
20%
30%
40%
50%
60%
70%
U.S. Government
30.7
66.0
AAA
20.4
2.4
AA
4.6
2.9
A
17.1
14.2
BBB
20.4
14.4
Below Invest. Grade
0.1
Not Rated
0.5
Cash & Cash Equivalents
6.2
Credit Quality
Fund (%)
U.S. Government
30.7
AAA
20.4
AA
4.6
A
17.1
BBB
20.4
Below Invest. Grade
0.1
Not Rated
0.5
Cash & Cash Equivalents
6.2
Maturity
Fund (%)
Benchmark (%)

Fund

Benchmark

0%
5%
10%
15%
20%
25%
30%
Year 1
13.2
1.7
Year 2
11.2
21.4
Year 3
10.3
16.8
Year 4
9.6
14.1
Year 5
10.6
14.0
Year 6
7.3
8.1
Year 7
5.6
8.2
Year 8
8.2
5.0
Year 9
2.6
5.2
Year 10+
15.1
5.4
Cash
6.2
Maturity
Fund (%)
Year 1
13.2
Year 2
11.2
Year 3
10.3
Year 4
9.6
Year 5
10.6
Year 6
7.3
Year 7
5.6
Year 8
8.2
Year 9
2.6
Year 10+
15.1
Cash
6.2
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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