Thornburg Limited Term Municipal Fund (LTMFX)

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The chart shows the growth of an initial investment of $10,000 in Thornburg 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.

Thornburg Limited Term Municipal Fund (LTMFX) has returned -0.28% so far this year and 3.61% over the past 12 months. Over the last ten years, LTMFX has returned 1.37% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Sep 28, 1984, LTMFX's average daily return is +0.01%, while the average monthly return is +0.13%. At this rate, your investment would double in approximately 44.5 years.

Historically, 59% of months were positive and 41% were negative. The best month was Jan 2009 with a return of +3.6%, while the worst month was Apr 1987 at -2.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, LTMFX closed higher 29% of trading days. The best single day was Mar 25, 2020 with a return of +2.1%, while the worst single day was Mar 20, 2020 at -1.7%.

Thornburg Limited Term Municipal Fund has an annualized alpha of 1.57%, beta of 0.00, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since October 01, 1984.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (5.85%) than losses (1.62%) — typical of diversified or defensive assets.
• Beta of 0.00 may look defensive, but with R² of 0.00 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.00 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

LTMFX has an expense ratio of 0.71%, placing it in the medium range.

LTMFX ranks 75 for risk / return — better than 75% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Thornburg Limited Term Municipal Fund (LTMFX) and compare them to a chosen benchmark (S&P 500 Index).

Thornburg Limited Term Municipal Fund provided a 3.25% dividend yield over the last twelve months, with an annual payout of $0.44 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Thornburg Limited Term Municipal Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Thornburg 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 Limited Term Municipal Fund was 8.40%, occurring on Oct 28, 2022. Recovery took 526 trading sessions.

The current Thornburg Limited Term Municipal Fund drawdown is 1.89%.

The chart below shows the rolling one-month volatility.