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Thornburg Limited Term Income Fund

SYMBOL: THRIX

Morningstar Rating • Info

Overall Morningstar Rating among 533 Short-Term Bond funds, based on risk-adjusted returns for class R4 shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 3 stars, 2 stars and 3 stars among 533, 501 and 385 funds, as of 31 Dec 2025.

As of 31 Dec 2025

Fund Assets

$6.2 B

As of 31 Dec 2025

NAV

$13.23

As of 23 Jan 2026

Change

$0.01

As of 23 Jan 2026

YTD NAV Performance

0.20%

As of 23 Jan 2026

Asset Category:

Global Fixed Income

Fund Benchmark:

Bloomberg Intermediate U.S. Government/Credit Index

Portfolio Managers

Lon Erickson, CFA

Portfolio Manager and Managing Director

Christian Hoffmann, CFA

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.

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.

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

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.

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Why Cash Is No Longer King: Bonds Should Reign

Performance

Performance

Returns

(As of 31 Dec 2025)

YTD

1y

3y

5y

10y

Inception

Total Return (%)

6.48

6.48

5.54

1.44

2.53

4.26

Bloomberg Intermediate U.S. Government/Credit Index (%)

6.97

6.97

5.06

0.96

2.29

4.27

Morningstar Category Avg. (%)

5.96

5.96

5.56

2.24

2.51

—

Morningstar Quartile

—

1

2

4

2

—

Morningstar Quartile # of Funds

—

553

533

501

385

—

YTD

1y

3y

5y

10y

Inception

Total Return (%)

6.48

6.48

5.54

1.44

2.53

4.26

Bloomberg Intermediate U.S. Government/Credit Index (%)

6.97

6.97

5.06

0.96

2.29

4.27

Morningstar Category Avg. (%)

5.96

5.96

5.56

2.24

2.51

—

Morningstar Quartile

—

1

2

4

2

—

Morningstar Quartile # of Funds

—

553

533

501

385

—

YTD

1y

3y

5y

10y

Inception

Total Return (%)

6.48

6.48

17.56

7.38

28.32

300.43

Bloomberg Intermediate U.S. Government/Credit Index (%)

6.97

6.97

15.95

4.87

25.38

301.74

YTD

1y

3y

5y

10y

Inception

Total Return (%)

6.48

6.48

17.56

7.38

28.32

300.43

Bloomberg Intermediate U.S. Government/Credit Index (%)

6.97

6.97

15.95

4.87

25.38

301.74

2020

2021

2022

2023

2024

2025

Total Return (%)

7.06

-1.30

-7.46

5.96

4.19

6.48

Bloomberg Intermediate U.S. Government/Credit Index (%)

6.43

-1.44

-8.23

5.24

3.00

6.97

Source: Confluence

Periods less than one year are not annualized.

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.

Morningstar quartile ranking for Short-Term Bond category is based on total returns before sales charges.

The maximum sales charge for the fund’s A shares is 2.25%. C shares include a 0.50% contingent deferred sales charge (CDSC) for the first year only. There is no up-front sales charge for class I or R shares.

Prior to inception of I and R share classes, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Share class inception dates: A shares, 1 Oct 1992; C shares, 1 Sep 1994; I shares, 5 Jul 1996; R3 shares, 1 Jul 2003; R4 shares, 1 Feb 2014; R5 shares, 1 May 2012; R6 shares, 10 Apr 2017.

Fund Fees

Fund Fees

(As of 1 Feb 2025)

Gross Expense Ratio (%)

1.21

Net Expense Ratio (%)

0.99

Thornburg Investment Management and/or Thornburg Securities LLC have contractually agreed to waive fees and reimburse expenses through at least 1 February 2027, for some of the share classes; these are reflected in the net expense ratio. For more detailed information on fund expenses and waivers/reimbursements, please see the fund's prospectus.

Expense Ratios - Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

Hypothetical Growth of $10,000

            Categories,R4 Shares,Bloomberg Intermediate U.S. Government/Credit Index
            1992-10-01,10000,10000
1992-10-31,9899,9870
1992-11-30,9913,9833
1992-12-31,10027,9964
1993-01-31,10216,10158
1993-02-28,10359,10318
1993-03-31,10423,10359
1993-04-30,10493,10443
1993-05-31,10486,10420
1993-06-30,10632,10583
1993-07-31,10691,10609
1993-08-31,10854,10777
1993-09-30,10924,10822
1993-10-31,10944,10851
1993-11-30,10929,10791
1993-12-31,10976,10840
1994-01-31,11066,10960
1994-02-28,10971,10798
1994-03-31,10804,10620
1994-04-30,10751,10548
1994-05-31,10741,10555
1994-06-30,10757,10556
1994-07-31,10873,10708
1994-08-31,10930,10742
1994-09-30,10897,10643
1994-10-31,10817,10641
1994-11-30,10708,10593
1994-12-31,10628,10631
1995-01-31,10734,10810
1995-02-28,10990,11034
1995-03-31,11051,11097
1995-04-30,11226,11234
1995-05-31,11517,11574
1995-06-30,11587,11651
1995-07-31,11591,11653
1995-08-31,11789,11759
1995-09-30,11890,11844
1995-10-31,12041,11976
1995-11-30,12162,12134
1995-12-31,12254,12261
1996-01-31,12346,12367
1996-02-29,12228,12221
1996-03-31,12201,12158
1996-04-30,12233,12115
1996-05-31,12256,12106
1996-06-30,12371,12235
1996-07-31,12446,12271
1996-08-31,12573,12281
1996-09-30,12774,12452
1996-10-31,13048,12672
1996-11-30,13261,12839
1996-12-31,13170,12757
1997-01-31,13153,12807
1997-02-28,13176,12831
1997-03-31,13083,12742
1997-04-30,13160,12892
1997-05-31,13303,12999
1997-06-30,13436,13118
1997-07-31,13613,13385
1997-08-31,13560,13317
1997-09-30,13725,13472
1997-10-31,13837,13622
1997-11-30,13848,13652
1997-12-31,13892,13761
1998-01-31,13970,13941
1998-02-28,13992,13930
1998-03-31,14092,13975
1998-04-30,14135,14045
1998-05-31,14213,14148
1998-06-30,14245,14239
1998-07-31,14254,14289
1998-08-31,14322,14513
1998-09-30,14682,14878
1998-10-31,14643,14863
1998-11-30,14651,14862
1998-12-31,14765,14922
1999-01-31,14857,15004
1999-02-28,14651,14783
1999-03-31,14768,14894
1999-04-30,14860,14939
1999-05-31,14759,14824
1999-06-30,14731,14835
1999-07-31,14726,14822
1999-08-31,14697,14833
1999-09-30,14816,14971
1999-10-31,14825,15010
1999-11-30,14847,15028
1999-12-31,14808,14979
2000-01-31,14767,14925
2000-02-29,14906,15048
2000-03-31,15083,15205
2000-04-30,15009,15170
2000-05-31,15023,15194
2000-06-30,15285,15462
2000-07-31,15391,15579
2000-08-31,15563,15763
2000-09-30,15697,15907
2000-10-31,15712,15979
2000-11-30,15940,16196
2000-12-31,16195,16495
2001-01-31,16465,16766
2001-02-28,16629,16924
2001-03-31,16752,17054
2001-04-30,16684,17009
2001-05-31,16766,17104
2001-06-30,16836,17168
2001-07-31,17193,17525
2001-08-31,17341,17700
2001-09-30,17571,17958
2001-10-31,17802,18256
2001-11-30,17596,18073
2001-12-31,17499,17973
2002-01-31,17501,18067
2002-02-28,17657,18210
2002-03-31,17372,17933
2002-04-30,17674,18230
2002-05-31,17833,18412
2002-06-30,18021,18571
2002-07-31,18235,18791
2002-08-31,18432,19071
2002-09-30,18791,19412
2002-10-31,18639,19336
2002-11-30,18572,19319
2002-12-31,19004,19741
2003-01-31,19034,19740
2003-02-28,19299,20018
2003-03-31,19331,20039
2003-04-30,19427,20192
2003-05-31,19823,20597
2003-06-30,19821,20584
2003-07-31,19287,20024
2003-08-31,19316,20072
2003-09-30,19817,20580
2003-10-31,19629,20386
2003-11-30,19669,20414
2003-12-31,19814,20592
2004-01-31,19944,20727
2004-02-29,20105,20939
2004-03-31,20234,21102
2004-04-30,19758,20601
2004-05-31,19685,20508
2004-06-30,19722,20569
2004-07-31,19869,20743
2004-08-31,20160,21089
2004-09-30,20186,21126
2004-10-31,20321,21268
2004-11-30,20156,21074
2004-12-31,20280,21218
2005-01-31,20289,21259
2005-02-28,20236,21143
2005-03-31,20181,21033
2005-04-30,20369,21274
2005-05-31,20443,21465
2005-06-30,20486,21555
2005-07-31,20352,21376
2005-08-31,20571,21626
2005-09-30,20457,21443
2005-10-31,20371,21326
2005-11-30,20419,21418
2005-12-31,20519,21553
2006-01-31,20555,21550
2006-02-28,20585,21566
2006-03-31,20518,21470
2006-04-30,20553,21482
2006-05-31,20555,21483
2006-06-30,20574,21516
2006-07-31,20745,21757
2006-08-31,20918,22030
2006-09-30,21042,22204
2006-10-31,21115,22321
2006-11-30,21272,22524
2006-12-31,21226,22433
2007-01-31,21258,22441
2007-02-28,21463,22751
2007-03-31,21479,22789
2007-04-30,21567,22899
2007-05-31,21428,22752
2007-06-30,21449,22756
2007-07-31,21629,22972
2007-08-31,21790,23249
2007-09-30,21952,23410
2007-10-31,22079,23580
2007-11-30,22439,24028
2007-12-31,22481,24090
2008-01-31,22791,24603
2008-02-29,22833,24816
2008-03-31,22770,24812
2008-04-30,22706,24629
2008-05-31,22605,24431
2008-06-30,22632,24434
2008-07-31,22604,24480
2008-08-31,22696,24656
2008-09-30,22026,24143
2008-10-31,21065,23812
2008-11-30,21289,24591
2008-12-31,21662,25312
2009-01-31,22015,25213
2009-02-28,21938,25062
2009-03-31,22068,25300
2009-04-30,22504,25414
2009-05-31,23038,25602
2009-06-30,23554,25722
2009-07-31,24127,26075
2009-08-31,24587,26334
2009-09-30,24875,26559
2009-10-31,25104,26676
2009-11-30,25467,27034
2009-12-31,25223,26640
2010-01-31,25623,27011
2010-02-28,25749,27128
2010-03-31,25751,27051
2010-04-30,26010,27286
2010-05-31,26088,27480
2010-06-30,26345,27854
2010-07-31,26623,28158
2010-08-31,26903,28488
2010-09-30,27064,28622
2010-10-31,27204,28759
2010-11-30,27084,28566
2010-12-31,26776,28209
2011-01-31,26917,28318
2011-02-28,27020,28311
2011-03-31,27118,28304
2011-04-30,27443,28625
2011-05-31,27745,28953
2011-06-30,27675,28905
2011-07-31,27999,29318
2011-08-31,28031,29631
2011-09-30,27900,29597
2011-10-31,28081,29686
2011-11-30,27959,29614
2011-12-31,28108,29846
2012-01-31,28480,30151
2012-02-29,28661,30136
2012-03-31,28754,30028
2012-04-30,28974,30304
2012-05-31,29044,30449
2012-06-30,29113,30472
2012-07-31,29417,30767
2012-08-31,29593,30827
2012-09-30,29834,30900
2012-10-31,30010,30944
2012-11-30,30143,31038
2012-12-31,30186,31007
2013-01-31,30184,30895
2013-02-28,30333,31044
2013-03-31,30411,31087
2013-04-30,30578,31282
2013-05-31,30324,30928
2013-06-30,29777,30558
2013-07-31,29831,30652
2013-08-31,29708,30500
2013-09-30,30011,30747
2013-10-31,30220,30936
2013-11-30,30251,30935
2013-12-31,30105,30740
2014-01-31,30432,31023
2014-02-28,30604,31141
2014-03-31,30570,31048
2014-04-30,30742,31207
2014-05-31,31028,31454
2014-06-30,31057,31432
2014-07-31,30991,31363
2014-08-31,31177,31582
2014-09-30,31042,31422
2014-10-31,31181,31643
2014-11-30,31255,31802
2014-12-31,31095,31701
2015-01-31,31378,32228
2015-02-28,31314,32004
2015-03-31,31458,32160
2015-04-30,31483,32149
2015-05-31,31531,32152
2015-06-30,31393,31960
2015-07-31,31441,32074
2015-08-31,31349,32047
2015-09-30,31426,32263
2015-10-31,31423,32230
2015-11-30,31350,32148
2015-12-31,31205,32040
2016-01-31,31391,32432
2016-02-29,31486,32590
2016-03-31,31751,32824
2016-04-30,31897,32911
2016-05-31,31948,32873
2016-06-30,32260,33344
2016-07-31,32355,33439
2016-08-31,32400,33353
2016-09-30,32440,33398
2016-10-31,32410,33260
2016-11-30,32118,32684
2016-12-31,32139,32707
2017-01-31,32231,32796
2017-02-28,32348,32948
2017-03-31,32370,32963
2017-04-30,32515,33168
2017-05-31,32657,33333
2017-06-30,32632,33273
2017-07-31,32752,33427
2017-08-31,32873,33625
2017-09-30,32801,33474
2017-10-31,32850,33471
2017-11-30,32804,33368
2017-12-31,32853,33406
2018-01-31,32708,33112
2018-02-28,32613,32960
2018-03-31,32669,33079
2018-04-30,32578,32906
2018-05-31,32710,33102
2018-06-30,32698,33081
2018-07-31,32709,33089
2018-08-31,32868,33285
2018-09-30,32804,33151
2018-10-31,32742,33106
2018-11-30,32832,33255
2018-12-31,33123,33700
2019-01-31,33339,33992
2019-02-28,33429,34021
2019-03-31,33749,34482
2019-04-30,33842,34548
2019-05-31,34112,34999
2019-06-30,34332,35374
2019-07-31,34370,35362
2019-08-31,34736,35989
2019-09-30,34721,35858
2019-10-31,34805,36000
2019-11-30,34799,35947
2019-12-31,34831,35992
2020-01-31,35220,36503
2020-02-29,35503,37018
2020-03-31,34551,36856
2020-04-30,35443,37375
2020-05-31,35966,37659
2020-06-30,36537,37891
2020-07-31,36950,38174
2020-08-31,36947,38129
2020-09-30,36994,38124
2020-10-31,36932,38040
2020-11-30,37175,38229
2020-12-31,37290,38308
2021-01-31,37243,38201
2021-02-28,37013,37889
2021-03-31,36728,37595
2021-04-30,36898,37781
2021-05-31,37012,37933
2021-06-30,37019,37964
2021-07-31,37212,38254
2021-08-31,37164,38192
2021-09-30,37035,37973
2021-10-31,36903,37761
2021-11-30,36853,37804
2021-12-31,36806,37756
2022-01-31,36435,37202
2022-02-28,36012,36958
2022-03-31,35380,36053
2022-04-30,34780,35333
2022-05-31,34887,35596
2022-06-30,34401,35200
2022-07-31,34815,35775
2022-08-31,34484,35059
2022-09-30,33642,34122
2022-10-31,33400,33972
2022-11-30,34040,34709
2022-12-31,34062,34647
2023-01-31,34860,35293
2023-02-28,34424,34659
2023-03-31,34900,35455
2023-04-30,35100,35671
2023-05-31,34912,35407
2023-06-30,34837,35166
2023-07-31,34950,35258
2023-08-31,34985,35253
2023-09-30,34599,34874
2023-10-31,34391,34712
2023-11-30,35272,35637
2023-12-31,36092,36463
2024-01-31,36317,36540
2024-02-29,36126,36177
2024-03-31,36375,36409
2024-04-30,36008,35917
2024-05-31,36415,36351
2024-06-30,36704,36641
2024-07-31,37308,37329
2024-08-31,37650,37759
2024-09-30,38029,38169
2024-10-31,37589,37558
2024-11-30,37845,37792
2024-12-31,37606,37557
2025-01-31,37801,37772
2025-02-28,38317,38298
2025-03-31,38412,38467
2025-04-30,38561,38824
2025-05-31,38560,38697
2025-06-30,38944,39110
2025-07-31,39007,39056
2025-08-31,39454,39532
2025-09-30,39603,39699
2025-10-31,39811,39869
2025-11-30,39989,40138
2025-12-31,40043,40174

Hypothetical Growth of $10,000

(As of 31 Dec 2025)

(Hypothetical Growth of $10,000 vs Bloomberg Intermediate U.S. Government/Credit Index)

                        Categories,R4 Shares,Bloomberg Intermediate U.S. Government/Credit Index
                        2024-12-31,10000,10000
2025-01-31,10052,10057
2025-02-28,10189,10197
2025-03-31,10214,10242
2025-04-30,10254,10337
2025-05-31,10254,10303
2025-06-30,10356,10413
2025-07-31,10373,10399
2025-08-31,10491,10526
2025-09-30,10531,10570
2025-10-31,10586,10616
2025-11-30,10634,10687
2025-12-31,10648,10697

                        Categories,R4 Shares,Bloomberg Intermediate U.S. Government/Credit Index
                        2022-12-31,10000,10000
2023-01-31,10234,10187
2023-02-28,10106,10004
2023-03-31,10246,10233
2023-04-30,10305,10296
2023-05-31,10250,10219
2023-06-30,10228,10150
2023-07-31,10261,10177
2023-08-31,10271,10175
2023-09-30,10158,10065
2023-10-31,10097,10019
2023-11-30,10355,10286
2023-12-31,10596,10524
2024-01-31,10662,10546
2024-02-29,10606,10442
2024-03-31,10679,10509
2024-04-30,10571,10367
2024-05-31,10691,10492
2024-06-30,10776,10576
2024-07-31,10953,10774
2024-08-31,11054,10898
2024-09-30,11165,11016
2024-10-31,11036,10840
2024-11-30,11111,10908
2024-12-31,11041,10840
2025-01-31,11098,10902
2025-02-28,11249,11054
2025-03-31,11277,11103
2025-04-30,11321,11206
2025-05-31,11321,11169
2025-06-30,11434,11288
2025-07-31,11452,11273
2025-08-31,11583,11410
2025-09-30,11627,11458
2025-10-31,11688,11507
2025-11-30,11740,11585
2025-12-31,11756,11595

                        Categories,R4 Shares,Bloomberg Intermediate U.S. Government/Credit Index
                        2020-12-31,10000,10000
2021-01-31,9987,9972
2021-02-28,9926,9891
2021-03-31,9849,9814
2021-04-30,9895,9863
2021-05-31,9926,9902
2021-06-30,9928,9910
2021-07-31,9979,9986
2021-08-31,9966,9970
2021-09-30,9932,9913
2021-10-31,9896,9857
2021-11-30,9883,9869
2021-12-31,9870,9856
2022-01-31,9771,9711
2022-02-28,9657,9648
2022-03-31,9488,9412
2022-04-30,9327,9223
2022-05-31,9356,9292
2022-06-30,9225,9189
2022-07-31,9336,9339
2022-08-31,9248,9152
2022-09-30,9022,8907
2022-10-31,8957,8868
2022-11-30,9128,9061
2022-12-31,9134,9044
2023-01-31,9348,9213
2023-02-28,9232,9048
2023-03-31,9359,9255
2023-04-30,9413,9312
2023-05-31,9362,9243
2023-06-30,9342,9180
2023-07-31,9373,9204
2023-08-31,9382,9203
2023-09-30,9278,9104
2023-10-31,9223,9061
2023-11-30,9459,9303
2023-12-31,9679,9519
2024-01-31,9739,9538
2024-02-29,9688,9444
2024-03-31,9755,9504
2024-04-30,9656,9376
2024-05-31,9765,9489
2024-06-30,9843,9565
2024-07-31,10005,9745
2024-08-31,10097,9857
2024-09-30,10198,9964
2024-10-31,10080,9804
2024-11-30,10149,9865
2024-12-31,10085,9804
2025-01-31,10137,9860
2025-02-28,10275,9997
2025-03-31,10301,10042
2025-04-30,10341,10135
2025-05-31,10341,10102
2025-06-30,10444,10209
2025-07-31,10461,10195
2025-08-31,10580,10320
2025-09-30,10620,10363
2025-10-31,10676,10408
2025-11-30,10724,10478
2025-12-31,10738,10487

The Hypothetical Growth graph compares a hypothetical investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Distributions

            Categories,Total ($)
            2014-01-31,0
2014-02-28,0.02676
2014-03-31,0.02506
2014-04-30,0.02540
2014-05-31,0.02518
2014-06-30,0.02279
2014-07-31,0.02117
2014-08-31,0.02104
2014-09-30,0.02103
2014-10-31,0.02036
2014-11-19,0.07097
2014-11-30,0.02090
2014-12-31,0.02127
2015-01-31,0.02166
2015-02-28,0.02240
2015-03-31,0.02198
2015-04-30,0.02075
2015-05-31,0.02038
2015-06-30,0.02125
2015-07-31,0.02009
2015-08-31,0.02110
2015-09-30,0.02265
2015-10-31,0.01892
2015-11-30,0.01868
2015-12-31,0.01910
2016-01-31,0.01835
2016-02-29,0.01991
2016-03-31,0.02152
2016-04-30,0.02154
2016-05-31,0.02136
2016-06-30,0.02063
2016-07-31,0.01958
2016-08-31,0.01886
2016-09-30,0.01678
2016-10-31,0.01732
2016-11-30,0.01850
2016-12-31,0.01878
2017-01-31,0.01817
2017-02-28,0.01879
2017-03-31,0.01904
2017-04-30,0.01972
2017-05-31,0.01867
2017-06-30,0.01947
2017-07-31,0.01938
2017-08-31,0.02001
2017-09-30,0.02036
2017-10-31,0.02011
2017-11-30,0.02123
2017-12-31,0.02004
2018-01-31,0.02068
2018-02-28,0.02125
2018-03-31,0.02268
2018-04-30,0.02322
2018-05-31,0.02365
2018-06-30,0.02490
2018-07-31,0.02458
2018-08-31,0.02417
2018-09-30,0.02420
2018-10-31,0.02508
2018-11-30,0.02593
2018-12-31,0.02651
2019-01-31,0.02591
2019-02-28,0.02602
2019-03-31,0.02682
2019-04-30,0.02703
2019-05-31,0.02673
2019-06-30,0.02703
2019-07-31,0.02508
2019-08-31,0.02374
2019-09-30,0.02427
2019-10-31,0.02263
2019-11-14,0.09516
2019-11-30,0.02243
2019-12-31,0.02268
2020-01-31,0.02054
2020-02-29,0.01964
2020-03-31,0.02202
2020-04-30,0.02398
2020-05-31,0.02132
2020-06-30,0.01930
2020-07-31,0.01878
2020-08-31,0.01864
2020-09-30,0.01821
2020-10-31,0.01598
2020-11-19,0.16826
2020-11-30,0.01435
2020-12-31,0.01323
2021-01-31,0.01242
2021-02-28,0.01360
2021-03-31,0.01294
2021-04-30,0.01354
2021-05-31,0.01290
2021-06-30,0.01277
2021-07-31,0.01192
2021-08-31,0.01223
2021-09-30,0.01173
2021-10-31,0.01058
2021-11-30,0.01137
2021-12-31,0.01270
2022-01-31,0.01175
2022-02-28,0.01249
2022-03-31,0.01495
2022-04-30,0.01717
2022-05-31,0.01991
2022-06-30,0.01980
2022-07-31,0.02309
2022-08-31,0.02792
2022-09-30,0.01990
2022-10-31,0.02114
2022-11-30,0.02466
2022-12-31,0.02811
2023-01-31,0.02186
2023-02-28,0.02089
2023-03-31,0.03324
2023-04-30,0.03277
2023-05-31,0.03201
2023-06-30,0.03267
2023-07-31,0.03088
2023-08-31,0.03239
2023-09-30,0.03161
2023-10-31,0.03573
2023-11-30,0.03404
2023-12-31,0.03198
2024-01-31,0.02981
2024-02-29,0.03229
2024-03-31,0.03794
2024-04-30,0.04083
2024-05-31,0.04282
2024-06-30,0.04122
2024-07-31,0.04045
2024-08-31,0.03916
2024-09-30,0.04142
2024-10-31,0.03796
2024-11-30,0.03810
2024-12-31,0.03781
2025-01-31,0.03674
2025-02-28,0.03627
2025-03-31,0.04235
2025-04-30,0.04049
2025-05-31,0.03976
2025-06-30,0.03974
2025-07-31,0.04113
2025-08-31,0.03982
2025-09-30,0.03966
2025-10-31,0.03946
2025-11-30,0.03919
2025-12-31,0.03801

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
2014-01-31,1391126400,0,0,0,0
2014-02-28,1393545600,0.02676,0.02676,0,0
2014-03-31,1396224000,0.02506,0.02506,0,0
2014-04-30,1398816000,0.02540,0.02540,0,0
2014-05-30,1401494400,0.02518,0.02518,0,0
2014-06-30,1404086400,0.02279,0.02279,0,0
2014-07-31,1406764800,0.02117,0.02117,0,0
2014-08-29,1409443200,0.02104,0.02104,0,0
2014-09-30,1412035200,0.02103,0.02103,0,0
2014-10-31,1414713600,0.02036,0.02036,0,0
2014-11-19,1416355200,0.07097,0,0.01311,0.05786
2014-11-28,1417305600,0.02090,0.02090,0,0
2014-12-31,1419984000,0.02127,0.02127,0,0
2015-01-30,1422662400,0.02166,0.02166,0,0
2015-02-27,1425081600,0.02240,0.02240,0,0
2015-03-31,1427760000,0.02198,0.02198,0,0
2015-04-30,1430352000,0.02075,0.02075,0,0
2015-05-29,1433030400,0.02038,0.02038,0,0
2015-06-30,1435622400,0.02125,0.02125,0,0
2015-07-31,1438300800,0.02009,0.02009,0,0
2015-08-31,1440979200,0.02110,0.02110,0,0
2015-09-30,1443571200,0.02265,0.02265,0,0
2015-10-30,1446249600,0.01892,0.01892,0,0
2015-11-30,1448841600,0.01868,0.01868,0,0
2015-12-31,1451520000,0.01910,0.01910,0,0
2016-01-29,1454198400,0.01835,0.01835,0,0
2016-02-29,1456704000,0.01991,0.01991,0,0
2016-03-31,1459382400,0.02152,0.02152,0,0
2016-04-29,1461974400,0.02154,0.02154,0,0
2016-05-31,1464652800,0.02136,0.02136,0,0
2016-06-30,1467244800,0.02063,0.02063,0,0
2016-07-29,1469923200,0.01958,0.01958,0,0
2016-08-31,1472601600,0.01886,0.01886,0,0
2016-09-30,1475193600,0.01678,0.01678,0,0
2016-10-31,1477872000,0.01732,0.01732,0,0
2016-11-30,1480464000,0.01850,0.01850,0,0
2016-12-30,1483142400,0.01878,0.01878,0,0
2017-01-31,1485820800,0.01817,0.01817,0,0
2017-02-28,1488240000,0.01879,0.01879,0,0
2017-03-31,1490918400,0.01904,0.01904,0,0
2017-04-28,1493510400,0.01972,0.01972,0,0
2017-05-31,1496188800,0.01867,0.01867,0,0
2017-06-30,1498780800,0.01947,0.01947,0,0
2017-07-31,1501459200,0.01938,0.01938,0,0
2017-08-31,1504137600,0.02001,0.02001,0,0
2017-09-29,1506729600,0.02036,0.02036,0,0
2017-10-31,1509408000,0.02011,0.02011,0,0
2017-11-30,1512000000,0.02123,0.02123,0,0
2017-12-29,1514678400,0.02004,0.02004,0,0
2018-01-31,1517356800,0.02068,0.02068,0,0
2018-02-28,1519776000,0.02125,0.02125,0,0
2018-03-29,1522454400,0.02268,0.02268,0,0
2018-04-30,1525046400,0.02322,0.02322,0,0
2018-05-31,1527724800,0.02365,0.02365,0,0
2018-06-29,1530316800,0.02490,0.02490,0,0
2018-07-31,1532995200,0.02458,0.02458,0,0
2018-08-31,1535673600,0.02417,0.02417,0,0
2018-09-28,1538265600,0.02420,0.02420,0,0
2018-10-31,1540944000,0.02508,0.02508,0,0
2018-11-30,1543536000,0.02593,0.02593,0,0
2018-12-31,1546214400,0.02651,0.02651,0,0
2019-01-31,1548892800,0.02591,0.02591,0,0
2019-02-28,1551312000,0.02602,0.02602,0,0
2019-03-29,1553990400,0.02682,0.02682,0,0
2019-04-30,1556582400,0.02703,0.02703,0,0
2019-05-31,1559260800,0.02673,0.02673,0,0
2019-06-28,1561852800,0.02703,0.02703,0,0
2019-07-31,1564531200,0.02508,0.02508,0,0
2019-08-31,1567209600,0.02374,0.02374,0,0
2019-09-30,1569801600,0.02427,0.02427,0,0
2019-10-31,1572480000,0.02263,0.02263,0,0
2019-11-14,1573689600,0.09516,0,0.06730,0.02786
2019-11-30,1575072000,0.02243,0.02243,0,0
2019-12-31,1577750400,0.02268,0.02268,0,0
2020-01-31,1580428800,0.02054,0.02054,0,0
2020-02-29,1582934400,0.01964,0.01964,0,0
2020-03-31,1585612800,0.02202,0.02202,0,0
2020-04-30,1588204800,0.02398,0.02398,0,0
2020-05-31,1590883200,0.02132,0.02132,0,0
2020-06-30,1593475200,0.01930,0.01930,0,0
2020-07-31,1596153600,0.01878,0.01878,0,0
2020-08-31,1598832000,0.01864,0.01864,0,0
2020-09-30,1601424000,0.01821,0.01821,0,0
2020-10-30,1604102400,0.01598,0.01598,0,0
2020-11-19,1605744000,0.16826,0,0.15003,0.01823
2020-11-30,1606694400,0.01435,0.01435,0,0
2020-12-31,1609372800,0.01323,0.01323,0,0
2021-01-29,1612051200,0.01242,0.01242,0,0
2021-02-26,1614470400,0.01360,0.01360,0,0
2021-03-31,1617148800,0.01294,0.01294,0,0
2021-04-30,1619740800,0.01354,0.01354,0,0
2021-05-28,1622419200,0.01290,0.01290,0,0
2021-06-30,1625011200,0.01277,0.01277,0,0
2021-07-30,1627689600,0.01192,0.01192,0,0
2021-08-31,1630368000,0.01223,0.01223,0,0
2021-09-30,1632960000,0.01173,0.01173,0,0
2021-10-29,1635638400,0.01058,0.01058,0,0
2021-11-30,1638230400,0.01137,0.01137,0,0
2021-12-31,1640908800,0.01270,0.01270,0,0
2022-01-31,1643587200,0.01175,0.01175,0,0
2022-02-28,1646006400,0.01249,0.01249,0,0
2022-03-31,1648684800,0.01495,0.01495,0,0
2022-04-29,1651276800,0.01717,0.01717,0,0
2022-05-31,1653955200,0.01991,0.01991,0,0
2022-06-30,1656547200,0.01980,0.01980,0,0
2022-07-29,1659225600,0.02309,0.02309,0,0
2022-08-31,1661904000,0.02792,0.02792,0,0
2022-09-30,1664496000,0.01990,0.01990,0,0
2022-10-31,1667174400,0.02114,0.02114,0,0
2022-11-30,1669766400,0.02466,0.02466,0,0
2022-12-30,1672444800,0.02811,0.02811,0,0
2023-01-31,1675123200,0.02186,0.02186,0,0
2023-02-28,1677542400,0.02089,0.02089,0,0
2023-03-31,1680220800,0.03324,0.03324,0,0
2023-04-28,1682812800,0.03277,0.03277,0,0
2023-05-31,1685491200,0.03201,0.03201,0,0
2023-06-30,1688083200,0.03267,0.03267,0,0
2023-07-31,1690761600,0.03088,0.03088,0,0
2023-08-31,1693440000,0.03239,0.03239,0,0
2023-09-29,1696032000,0.03161,0.03161,0,0
2023-10-31,1698710400,0.03573,0.03573,0,0
2023-11-30,1701302400,0.03404,0.03404,0,0
2023-12-29,1703980800,0.03198,0.03198,0,0
2024-01-31,1706659200,0.02981,0.02981,0,0
2024-02-29,1709164800,0.03229,0.03229,0,0
2024-03-28,1711843200,0.03794,0.03794,0,0
2024-04-30,1714435200,0.04083,0.04083,0,0
2024-05-31,1717113600,0.04282,0.04282,0,0
2024-06-28,1719705600,0.04122,0.04122,0,0
2024-07-31,1722384000,0.04045,0.04045,0,0
2024-08-30,1725062400,0.03916,0.03916,0,0
2024-09-30,1727654400,0.04142,0.04142,0,0
2024-10-31,1730332800,0.03796,0.03796,0,0
2024-11-29,1732924800,0.03810,0.03810,0,0
2024-12-31,1735603200,0.03781,0.03781,0,0
2025-01-31,1738281600,0.03674,0.03674,0,0
2025-02-28,1740700800,0.03627,0.03627,0,0
2025-03-31,1743379200,0.04235,0.04235,0,0
2025-04-30,1745971200,0.04049,0.04049,0,0
2025-05-30,1748649600,0.03976,0.03976,0,0
2025-06-30,1751241600,0.03974,0.03974,0,0
2025-07-31,1753920000,0.04113,0.04113,0,0
2025-08-29,1756598400,0.03982,0.03982,0,0
2025-09-30,1759190400,0.03966,0.03966,0,0
2025-10-31,1761868800,0.03946,0.03946,0,0
2025-11-28,1764460800,0.03919,0.03919,0,0
2025-12-31,1767139200,0.03801,0.03801,0,0

Distributions

(As of 31 Dec 2025)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

31 Jan 2014

31 Jan 2014

0

—

—

—

28 Feb 2014

28 Feb 2014

0.02676

0.02676

—

—

31 Mar 2014

31 Mar 2014

0.02506

0.02506

—

—

30 Apr 2014

30 Apr 2014

0.02540

0.02540

—

—

30 May 2014

31 May 2014

0.02518

0.02518

—

—

30 Jun 2014

30 Jun 2014

0.02279

0.02279

—

—

31 Jul 2014

31 Jul 2014

0.02117

0.02117

—

—

29 Aug 2014

31 Aug 2014

0.02104

0.02104

—

—

30 Sep 2014

30 Sep 2014

0.02103

0.02103

—

—

31 Oct 2014

31 Oct 2014

0.02036

0.02036

—

—

19 Nov 2014

19 Nov 2014

0.07097

—

0.01311

0.05786

28 Nov 2014

30 Nov 2014

0.02090

0.02090

—

—

31 Dec 2014

31 Dec 2014

0.02127

0.02127

—

—

30 Jan 2015

31 Jan 2015

0.02166

0.02166

—

—

27 Feb 2015

28 Feb 2015

0.02240

0.02240

—

—

31 Mar 2015

31 Mar 2015

0.02198

0.02198

—

—

30 Apr 2015

30 Apr 2015

0.02075

0.02075

—

—

29 May 2015

31 May 2015

0.02038

0.02038

—

—

30 Jun 2015

30 Jun 2015

0.02125

0.02125

—

—

31 Jul 2015

31 Jul 2015

0.02009

0.02009

—

—

31 Aug 2015

31 Aug 2015

0.02110

0.02110

—

—

30 Sep 2015

30 Sep 2015

0.02265

0.02265

—

—

30 Oct 2015

31 Oct 2015

0.01892

0.01892

—

—

30 Nov 2015

30 Nov 2015

0.01868

0.01868

—

—

31 Dec 2015

31 Dec 2015

0.01910

0.01910

—

—

29 Jan 2016

31 Jan 2016

0.01835

0.01835

—

—

29 Feb 2016

29 Feb 2016

0.01991

0.01991

—

—

31 Mar 2016

31 Mar 2016

0.02152

0.02152

—

—

29 Apr 2016

30 Apr 2016

0.02154

0.02154

—

—

31 May 2016

31 May 2016

0.02136

0.02136

—

—

30 Jun 2016

30 Jun 2016

0.02063

0.02063

—

—

29 Jul 2016

31 Jul 2016

0.01958

0.01958

—

—

31 Aug 2016

31 Aug 2016

0.01886

0.01886

—

—

30 Sep 2016

30 Sep 2016

0.01678

0.01678

—

—

31 Oct 2016

31 Oct 2016

0.01732

0.01732

—

—

30 Nov 2016

30 Nov 2016

0.01850

0.01850

—

—

30 Dec 2016

31 Dec 2016

0.01878

0.01878

—

—

31 Jan 2017

31 Jan 2017

0.01817

0.01817

—

—

28 Feb 2017

28 Feb 2017

0.01879

0.01879

—

—

31 Mar 2017

31 Mar 2017

0.01904

0.01904

—

—

28 Apr 2017

30 Apr 2017

0.01972

0.01972

—

—

31 May 2017

31 May 2017

0.01867

0.01867

—

—

30 Jun 2017

30 Jun 2017

0.01947

0.01947

—

—

31 Jul 2017

31 Jul 2017

0.01938

0.01938

—

—

31 Aug 2017

31 Aug 2017

0.02001

0.02001

—

—

29 Sep 2017

30 Sep 2017

0.02036

0.02036

—

—

31 Oct 2017

31 Oct 2017

0.02011

0.02011

—

—

30 Nov 2017

30 Nov 2017

0.02123

0.02123

—

—

29 Dec 2017

31 Dec 2017

0.02004

0.02004

—

—

31 Jan 2018

31 Jan 2018

0.02068

0.02068

—

—

28 Feb 2018

28 Feb 2018

0.02125

0.02125

—

—

29 Mar 2018

31 Mar 2018

0.02268

0.02268

—

—

30 Apr 2018

30 Apr 2018

0.02322

0.02322

—

—

31 May 2018

31 May 2018

0.02365

0.02365

—

—

29 Jun 2018

30 Jun 2018

0.02490

0.02490

—

—

31 Jul 2018

31 Jul 2018

0.02458

0.02458

—

—

31 Aug 2018

31 Aug 2018

0.02417

0.02417

—

—

28 Sep 2018

30 Sep 2018

0.02420

0.02420

—

—

31 Oct 2018

31 Oct 2018

0.02508

0.02508

—

—

30 Nov 2018

30 Nov 2018

0.02593

0.02593

—

—

31 Dec 2018

31 Dec 2018

0.02651

0.02651

—

—

31 Jan 2019

31 Jan 2019

0.02591

0.02591

—

—

28 Feb 2019

28 Feb 2019

0.02602

0.02602

—

—

29 Mar 2019

31 Mar 2019

0.02682

0.02682

—

—

30 Apr 2019

30 Apr 2019

0.02703

0.02703

—

—

31 May 2019

31 May 2019

0.02673

0.02673

—

—

28 Jun 2019

30 Jun 2019

0.02703

0.02703

—

—

31 Jul 2019

31 Jul 2019

0.02508

0.02508

—

—

31 Aug 2019

31 Aug 2019

0.02374

0.02374

—

—

30 Sep 2019

30 Sep 2019

0.02427

0.02427

—

—

31 Oct 2019

31 Oct 2019

0.02263

0.02263

—

—

14 Nov 2019

14 Nov 2019

0.09516

—

0.06730

0.02786

30 Nov 2019

30 Nov 2019

0.02243

0.02243

—

—

31 Dec 2019

31 Dec 2019

0.02268

0.02268

—

—

31 Jan 2020

31 Jan 2020

0.02054

0.02054

—

—

29 Feb 2020

29 Feb 2020

0.01964

0.01964

—

—

31 Mar 2020

31 Mar 2020

0.02202

0.02202

—

—

30 Apr 2020

30 Apr 2020

0.02398

0.02398

—

—

31 May 2020

31 May 2020

0.02132

0.02132

—

—

30 Jun 2020

30 Jun 2020

0.01930

0.01930

—

—

31 Jul 2020

31 Jul 2020

0.01878

0.01878

—

—

31 Aug 2020

31 Aug 2020

0.01864

0.01864

—

—

30 Sep 2020

30 Sep 2020

0.01821

0.01821

—

—

30 Oct 2020

31 Oct 2020

0.01598

0.01598

—

—

19 Nov 2020

19 Nov 2020

0.16826

—

0.15003

0.01823

30 Nov 2020

30 Nov 2020

0.01435

0.01435

—

—

31 Dec 2020

31 Dec 2020

0.01323

0.01323

—

—

29 Jan 2021

31 Jan 2021

0.01242

0.01242

—

—

26 Feb 2021

28 Feb 2021

0.01360

0.01360

—

—

31 Mar 2021

31 Mar 2021

0.01294

0.01294

—

—

30 Apr 2021

30 Apr 2021

0.01354

0.01354

—

—

28 May 2021

31 May 2021

0.01290

0.01290

—

—

30 Jun 2021

30 Jun 2021

0.01277

0.01277

—

—

30 Jul 2021

31 Jul 2021

0.01192

0.01192

—

—

31 Aug 2021

31 Aug 2021

0.01223

0.01223

—

—

30 Sep 2021

30 Sep 2021

0.01173

0.01173

—

—

29 Oct 2021

31 Oct 2021

0.01058

0.01058

—

—

30 Nov 2021

30 Nov 2021

0.01137

0.01137

—

—

31 Dec 2021

31 Dec 2021

0.01270

0.01270

—

—

31 Jan 2022

31 Jan 2022

0.01175

0.01175

—

—

28 Feb 2022

28 Feb 2022

0.01249

0.01249

—

—

31 Mar 2022

31 Mar 2022

0.01495

0.01495

—

—

29 Apr 2022

30 Apr 2022

0.01717

0.01717

—

—

31 May 2022

31 May 2022

0.01991

0.01991

—

—

30 Jun 2022

30 Jun 2022

0.01980

0.01980

—

—

29 Jul 2022

31 Jul 2022

0.02309

0.02309

—

—

31 Aug 2022

31 Aug 2022

0.02792

0.02792

—

—

30 Sep 2022

30 Sep 2022

0.01990

0.01990

—

—

31 Oct 2022

31 Oct 2022

0.02114

0.02114

—

—

30 Nov 2022

30 Nov 2022

0.02466

0.02466

—

—

30 Dec 2022

31 Dec 2022

0.02811

0.02811

—

—

31 Jan 2023

31 Jan 2023

0.02186

0.02186

—

—

28 Feb 2023

28 Feb 2023

0.02089

0.02089

—

—

31 Mar 2023

31 Mar 2023

0.03324

0.03324

—

—

28 Apr 2023

30 Apr 2023

0.03277

0.03277

—

—

31 May 2023

31 May 2023

0.03201

0.03201

—

—

30 Jun 2023

30 Jun 2023

0.03267

0.03267

—

—

31 Jul 2023

31 Jul 2023

0.03088

0.03088

—

—

31 Aug 2023

31 Aug 2023

0.03239

0.03239

—

—

29 Sep 2023

30 Sep 2023

0.03161

0.03161

—

—

31 Oct 2023

31 Oct 2023

0.03573

0.03573

—

—

30 Nov 2023

30 Nov 2023

0.03404

0.03404

—

—

29 Dec 2023

31 Dec 2023

0.03198

0.03198

—

—

31 Jan 2024

31 Jan 2024

0.02981

0.02981

—

—

29 Feb 2024

29 Feb 2024

0.03229

0.03229

—

—

28 Mar 2024

31 Mar 2024

0.03794

0.03794

—

—

30 Apr 2024

30 Apr 2024

0.04083

0.04083

—

—

31 May 2024

31 May 2024

0.04282

0.04282

—

—

28 Jun 2024

30 Jun 2024

0.04122

0.04122

—

—

31 Jul 2024

31 Jul 2024

0.04045

0.04045

—

—

30 Aug 2024

31 Aug 2024

0.03916

0.03916

—

—

30 Sep 2024

30 Sep 2024

0.04142

0.04142

—

—

31 Oct 2024

31 Oct 2024

0.03796

0.03796

—

—

29 Nov 2024

30 Nov 2024

0.03810

0.03810

—

—

31 Dec 2024

31 Dec 2024

0.03781

0.03781

—

—

31 Jan 2025

31 Jan 2025

0.03674

0.03674

—

—

28 Feb 2025

28 Feb 2025

0.03627

0.03627

—

—

31 Mar 2025

31 Mar 2025

0.04235

0.04235

—

—

30 Apr 2025

30 Apr 2025

0.04049

0.04049

—

—

30 May 2025

31 May 2025

0.03976

0.03976

—

—

30 Jun 2025

30 Jun 2025

0.03974

0.03974

—

—

31 Jul 2025

31 Jul 2025

0.04113

0.04113

—

—

29 Aug 2025

31 Aug 2025

0.03982

0.03982

—

—

30 Sep 2025

30 Sep 2025

0.03966

0.03966

—

—

31 Oct 2025

31 Oct 2025

0.03946

0.03946

—

—

28 Nov 2025

30 Nov 2025

0.03919

0.03919

—

—

31 Dec 2025

31 Dec 2025

0.03801

0.03801

—

—

Fund Facts

Fund Facts

(As of 31 Dec 2025)

Net Fund Assets

$6.2 B

Benchmark

Bloomberg Intermediate U.S. Government/Credit Index

Morningstar Category

Short-Term Bond

Fund Symbol

THRIX

Share Class

R4

Share Class Inception Date

1 Feb 2014

Distribution Frequency

Monthly

30-Day SEC Yield (Subsidized)

3.12%

30-Day SEC Yield (Unsubsidized)

2.73%

Annualized Distribution Yield

3.34%

Characteristics

Characteristics

Portfolio

(As of 31 Dec 2025)

Portfolio

Benchmark

Number of Holdings

743

—

Annual Portfolio Turnover

33%

—

Effective Duration

3.3 Yrs

3.7 Yrs

Portfolio

Benchmark

Average Effective Maturity

3.9 Yrs

4.2 Yrs

Weighted Average Coupon

3.7%

3.7%

Yield to Worst

4.7%

3.9%

Risk & Return Profile

Risk & Return Profile

(As of 31 Dec 2025)

3y

5y

10y

Beta

0.82

0.83

0.82

R-Squared (%)

93.49

93.59

82.99

Standard Deviation (%)

3.20

3.52

3.00

Sharpe Ratio

0.30

-0.40

0.25

Information Ratio

0.90

0.82

0.51

Up Capture (%)

95.42

91.54

94.04

Down Capture (%)

61.31

72.67

69.80

Past performance does not guarantee future results.

Risk & Return Profile metrics are based on the I share class.

Portfolio

Portfolio

Top Holdings

(As of 30 Nov 2025)

Name

Ticker/Symbol

Weight %

United States Treasury Inflation Indexed Bonds

91282CBF7

1.9

Fannie Mae Pool

3140XMZX7

1.6

Ginnie Mae II Pool

36179W7K8

1.5

United States Treasury Inflation Indexed Bonds

91282CDX6

1.0

Ginnie Mae II Pool

36179WR34

0.9

United States Treasury Note/Bond

91282CFF3

0.7

Rate Mortgage Trust 2022-J1

75410RAJ5

0.6

Freddie Mac Pool

3132E0T85

0.6

Diamond Infrastructure Funding, LLC

25265LAA8

0.6

Freddie Mac Pool

3132DPBV9

0.5

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

Exposure Breakdown

(As of 31 Dec 2025)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

0%

10%

20%

30%

40%

50%

60%

70%

Corporate Bond

33.8

29.2

Collateralized Mortgage Obligation

22.2

—

Asset Backed Securities

13.9

0.0

Mortgage Passthrough

9.9

—

Short-Term Investments, Other Assets & Liabilities

7.2

—

Treasury Domestic

6.9

64.9

Commercial Mortgage Backed Security

4.9

—

Preferred Stock

0.6

—

Municipals

0.3

0.7

Agency Debenture

0.2

1.9

Treasury-Foreign

0.1

3.3

Sector Allocation

Fund (%)

Corporate Bond

33.8

Collateralized Mortgage Obligation

22.2

Asset Backed Securities

13.9

Mortgage Passthrough

9.9

Short-Term Investments, Other Assets & Liabilities

7.2

Treasury Domestic

6.9

Commercial Mortgage Backed Security

4.9

Preferred Stock

0.6

Municipals

0.3

Agency Debenture

0.2

Treasury-Foreign

0.1

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

0%

10%

20%

30%

40%

50%

60%

70%

U.S. Government

27.2

66.9

AAA

19.5

2.2

AA

7.8

3.2

A

15.9

13.4

BBB

21.6

13.9

Below Invest. Grade

0.2

0.5

Not Rated

0.8

0.0

Short-Term Investments, Other Assets & Liabilities

7.2

—

Credit Quality

Fund (%)

U.S. Government

27.2

AAA

19.5

AA

7.8

A

15.9

BBB

21.6

Below Invest. Grade

0.2

Not Rated

0.8

Short-Term Investments, Other Assets & Liabilities

7.2

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

0%

5%

10%

15%

20%

25%

30%

Year 1

17.0

1.7

Year 2

8.7

20.9

Year 3

11.1

18.0

Year 4

12.0

13.0

Year 5

12.9

14.5

Year 6

7.8

8.3

Year 7

6.6

8.4

Year 8

1.5

5.0

Year 9

3.2

5.6

Year 10+

12.0

4.6

Short-Term Investments, Other Assets & Liabilities

7.2

—

Maturity

Fund (%)

Year 1

17.0

Year 2

8.7

Year 3

11.1

Year 4

12.0

Year 5

12.9

Year 6

7.8

Year 7

6.6

Year 8

1.5

Year 9

3.2

Year 10+

12.0

Short-Term Investments, Other Assets & Liabilities

7.2

Credit quality ratings use the highest rating available from either S&P Global Ratings or Moody's Investors Service. Unrated securities are evaluated by the firm using available data and their own analysis that may be similar to that of a nationally recognized rating agency; however, such determination is not equivalent to a national agency credit rating. "NR" = Not Rated.

Weights are percentages of the total portfolio unless otherwise noted.

May not add up to 100% due to rounding.

Short-Term Investments, Other Assets & Liabilities includes cash, short-term securities, other assets less liabilities, accruals, derivatives and forwards. It may also include investments in money market or similar funds managed by Thornburg that are not offered to the public.

Portfolio Managers

Portfolio Managers

Lon Erickson, CFA

Lon Erickson, CFA

Portfolio Manager and Managing Director

Lon Erickson is a 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…

Learn More

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

Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Financial Statements

Semi-Annual Financial Statements

Prospectus

Statement of Additional Information (SAI)

Annual TSR

Semi-Annual TSR

Important Information

This communication is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

Investments carry risks, including possible loss of principal. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. Unlike bonds, bond funds have ongoing fees and expenses. Investments in mortgage-backed securities (MBS) may bear additional risk. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

A bond credit rating assesses the financial ability of a debt issuer to make timely payments of principal and interest. Ratings of AAA (the highest), AA, A, and BBB are investment-grade quality. Ratings of BB, B, CCC, CC, C and D (the lowest) are considered below investment grade, speculative grade, or junk bonds.

The performance of any index is not indicative of the performance of any particular investment. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. Investors may not make direct investments into any index.

Class R shares are limited to retirement platforms only.

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.

There is no guarantee that the Fund will meet its investment objectives.

To determine a fund's Morningstar Rating™, funds and other managed products with at least a three-year history are ranked in their categories by their Morningstar Risk-Adjusted Return scores. The top 10% receive 5 stars; the next 22.5%, 4 stars; the middle 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10% receive 1 star. The Risk-Adjusted Return accounts for variation in a managed product's monthly excess performance (excluding sales charges), placing more emphasis on downward variations and rewarding consistent performance. Other share classes may have different performance characteristics.

© 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities LLC (TSL) does not act as broker of record for investors.

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