Thornburg California Limited Term Municipal Fund (LTCAX)
The fund pursues its primary goal by investing principally in a laddered maturity portfolio of municipal obligations issued by the State of California and its agencies, and by California local governments and their agencies.
Fund Info
US8852154264
885215426
Feb 18, 1987
$5,000
Expense Ratio
LTCAX features an expense ratio of 0.74%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Thornburg California Limited Term Municipal Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Thornburg California Limited Term Municipal Fund had a return of 0.71% year-to-date (YTD) and 2.60% in the last 12 months. Over the past 10 years, Thornburg California Limited Term Municipal Fund had an annualized return of 0.90%, while the S&P 500 had an annualized return of 11.29%, indicating that Thornburg California Limited Term Municipal Fund did not perform as well as the benchmark.
LTCAX
0.71%
0.95%
0.76%
2.60%
0.46%
0.90%
^GSPC (Benchmark)
4.22%
2.22%
9.51%
22.46%
12.74%
11.29%
Monthly Returns
The table below presents the monthly returns of LTCAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.48% | 0.71% | |||||||||||
| 2024 | -0.23% | 0.08% | 0.16% | -0.69% | -0.39% | 0.95% | 0.71% | 1.10% | 0.62% | -1.07% | 0.95% | -0.84% | 1.33% |
| 2023 | 1.34% | -1.27% | 1.36% | -0.20% | -0.58% | 0.52% | 0.29% | -0.34% | -1.20% | -0.17% | 3.04% | 1.39% | 4.17% |
| 2022 | -1.82% | -0.34% | -1.87% | -1.49% | 1.13% | -0.42% | 1.37% | -1.09% | -1.95% | -0.16% | 1.93% | 0.25% | -4.46% |
| 2021 | 0.16% | -0.76% | 0.23% | 0.24% | 0.02% | -0.12% | 0.31% | 0.01% | -0.42% | -0.20% | 0.17% | -0.06% | -0.41% |
| 2020 | 0.84% | 0.42% | -1.89% | -0.39% | 1.82% | 0.17% | 0.60% | -0.13% | 0.09% | -0.20% | 0.45% | 0.16% | 1.92% |
| 2019 | 0.50% | 0.30% | 0.50% | -0.01% | 0.72% | 0.28% | 0.56% | 0.41% | -0.53% | 0.19% | 0.04% | 0.19% | 3.20% |
| 2018 | -0.40% | -0.30% | -0.10% | -0.30% | 0.80% | 0.13% | 0.20% | 0.05% | -0.39% | -0.25% | 0.51% | 0.58% | 0.53% |
| 2017 | 0.55% | 0.42% | 0.04% | 0.48% | 0.92% | -0.25% | 0.40% | 0.54% | -0.46% | -0.11% | -0.83% | 0.34% | 2.05% |
| 2016 | 0.83% | 0.19% | -0.19% | 0.39% | -0.19% | 0.75% | 0.03% | 0.03% | -0.11% | -0.61% | -2.63% | 0.55% | -0.99% |
| 2015 | 1.27% | -0.66% | 0.04% | -0.25% | -0.33% | -0.03% | 0.47% | 0.12% | 0.48% | 0.18% | 0.04% | 0.33% | 1.67% |
| 2014 | 1.03% | 0.74% | -0.44% | 0.66% | 0.87% | -0.08% | 0.14% | 0.71% | -0.09% | 0.34% | -0.10% | 0.04% | 3.86% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of LTCAX is 60, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Thornburg California Limited Term Municipal Fund (LTCAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Thornburg California Limited Term Municipal Fund provided a 2.87% dividend yield over the last twelve months, with an annual payout of $0.37 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.37 | $0.37 | $0.31 | $0.20 | $0.15 | $0.17 | $0.21 | $0.21 | $0.19 | $0.18 | $0.19 | $0.22 |
Dividend yield | 2.87% | 2.88% | 2.41% | 1.59% | 1.13% | 1.24% | 1.53% | 1.55% | 1.38% | 1.30% | 1.36% | 1.59% |
Monthly Dividends
The table displays the monthly dividend distributions for Thornburg California Limited Term Municipal Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.00 | $0.03 | ||||||||||
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2023 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2021 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.21 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.21 |
| 2017 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.19 |
| 2016 | $0.02 | $0.02 | $0.01 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.02 | $0.01 | $0.18 |
| 2015 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.19 |
| 2014 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.22 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Thornburg California Limited Term Municipal Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Thornburg California Limited Term Municipal Fund was 7.24%, occurring on Oct 26, 2022. Recovery took 443 trading sessions.
The current Thornburg California Limited Term Municipal Fund drawdown is 0.41%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -7.24% | Feb 17, 2021 | 428 | Oct 26, 2022 | 443 | Aug 2, 2024 | 871 |
| -6.69% | Mar 10, 2020 | 9 | Mar 20, 2020 | 92 | Jul 31, 2020 | 101 |
| -5.42% | Sep 12, 2008 | 25 | Oct 16, 2008 | 60 | Jan 13, 2009 | 85 |
| -4.09% | Feb 1, 1994 | 211 | Nov 22, 1994 | 70 | Feb 28, 1995 | 281 |
| -3.7% | Mar 12, 2004 | 44 | May 13, 2004 | 269 | Jun 8, 2005 | 313 |
Volatility
Volatility Chart
The current Thornburg California Limited Term Municipal Fund volatility is 0.62%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.