Literature — ETFs

Important Information

Before investing, carefully consider the Fund's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit thornburg.com. Read them carefully before investing.

Thornburg ETFs are actively managed and do not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund’s performance may suffer.

Exchange Traded Funds (ETF) are bought and sold through exchange trading at market prices (not NAV) and are not individually redeemed from a Fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations. Risks associated with investing in Thornburg ETFs may include: (1) New and Smaller Sized Fund Risk, (2) Investment Adviser Risk and (3) Derivatives Risk. Additional risks associated with investing in TXUE and TXUG may include: (1) Equity Risk, (2) Risks Affecting Specific Countries or Regions and (3) Market and Economic Risk. Additional risks associated with investing in TXUG may include: (1) Growth Company Risk and (2) Small and Mid-Cap Company Risk. Additional risks associated with investing in TPLS and TMB may include: (1) Credit Risk, (2) High Yield Risk, (3) Interest Rate Risk and (4) Market and Economic Risk. Additional risks associated with investing in TPLS may include: (1) Emerging Markets Risk. More information regarding the risks associated with investing in Thornburg ETFs can be found in the fund prospectuses.

Please see our glossary for a definition of terms.

Thornburg ETFs are distributed by ALPS Distributors, Inc.