- ISIN
- US8852166979
- CUSIP
- 885216697
- Issuer
- Thornburg
- Inception Date
- Sep 30, 2015
- Category
- Foreign Large Cap Equities
- Min. Investment
- $2,500,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
TBWIX Performance Chart
Thornburg Better World International Fund (TBWIX) is up 3.2% since the beginning of the year. TBWIX is currently trading at $23 per share. Investors who bought $1,000 worth of TBWIX shares 5 years ago would now be looking at an investment worth $1,259.
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Returns By Period
Thornburg Better World International Fund (TBWIX) has returned 3.20% so far this year and 13.85% over the past 12 months. Over the last ten years, TBWIX has returned 10.64% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Thornburg Better World International Fund
- 1D
- 0.52%
- 1M
- 0.22%
- YTD
- 3.20%
- 6M
- 3.29%
- 1Y
- 13.85%
- 3Y*
- 10.54%
- 5Y*
- 4.72%
- 10Y*
- 10.64%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TBWIX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, TBWIX's average daily return is +0.04%, while the average monthly return is +0.91%. At this rate, an investment would double in approximately 6.4 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2022 with a return of +12.7%, while the worst month was Mar 2020 at -12.5%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TBWIX closed higher 51% of trading days. The best single day was Nov 18, 2021 with a return of +14.3%, while the worst single day was Nov 19, 2021 at -12.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.71% | 4.20% | -9.89% | 6.22% | 1.17% | -0.43% | 3.20% | ||||||
| 2025 | 4.73% | -0.21% | -0.26% | 4.49% | 4.60% | 1.53% | -0.56% | 1.47% | 2.00% | 0.96% | 2.04% | 1.32% | 24.25% |
| 2024 | -0.86% | 3.65% | 1.96% | -2.36% | 4.33% | -0.11% | 3.83% | 3.01% | 0.66% | -3.96% | -0.26% | -2.58% | 7.10% |
| 2023 | 9.18% | -4.56% | 3.43% | 1.83% | -1.86% | 4.03% | 2.85% | -3.65% | -4.42% | -3.55% | 6.23% | 3.66% | 12.72% |
| 2022 | -2.75% | -4.53% | -0.61% | -8.26% | 0.06% | -6.30% | 4.44% | -4.69% | -8.60% | 2.15% | 12.65% | -1.35% | -18.02% |
| 2021 | -0.60% | 6.93% | 2.68% | 3.61% | 1.94% | 7.31% | -1.86% | 3.33% | -3.92% | 2.91% | -3.84% | 1.36% | 20.88% |
Benchmark Metrics
Thornburg Better World International Fund has an annualized alpha of 2.04%, beta of 0.66, and R2 of 0.50 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This fund participated in 80.81% of S&P 500 Index downside but only 74.46% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 2.04% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.66 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.04%
- Beta
- 0.66
- R²
- 0.50
- Upside Capture
- 74.46%
- Downside Capture
- 80.81%
Expense Ratio
TBWIX has a high expense ratio of 1.21%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
TBWIX ranks 14 for risk / return — in the bottom 14% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Thornburg Better World International Fund (TBWIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TBWIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 2.78 | -1.70 |
| Martin ratioReturn relative to average drawdown | 3.63 | 12.44 | -8.81 |
Dividends
Dividend History
Thornburg Better World International Fund provided a 1.48% dividend yield over the last twelve months, with an annual payout of $0.34 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.34 | $0.34 | $0.26 | $0.27 | $0.14 | $2.91 | $0.07 | $0.17 | $1.19 | $0.53 | $0.76 |
Dividend yield | 1.48% | 1.53% | 1.40% | 1.55% | 0.87% | 15.10% | 0.40% | 1.17% | 10.14% | 3.53% | 5.99% |
Monthly Dividends
The table displays the monthly dividend distributions for Thornburg Better World International 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.34 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.26 | $0.26 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.27 | $0.27 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.86 | $0.05 | $2.91 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Thornburg Better World International 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 Better World International Fund was 40.11%, occurring on Oct 14, 2022. Recovery took 744 trading sessions.
The current Thornburg Better World International Fund drawdown is 3.57%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -40.11%Oct 2022 | 10mo 29d | 2y 11mo | 3y 10moNov 2021 - Oct 2025 |
COVID crash2020 | -29.37%Mar 2020 | 2mo 2d | 3mo 15d | 5mo 17dJan 2020 - Jul 2020 |
Rate-hike selloffLate 2018 | -20.54%Dec 2018 | 10mo 29d | 11mo 24d | 1y 10moJan 2018 - Dec 2019 |
2026 correction2026 | -12.01%Mar 2026 | 28d | — | 3mo 23dMar 2026 - now |
2016 pullback2016 | -7.76%Feb 2016 | 1mo 6d | 29d | 2mo 5dJan 2016 - Mar 2016 |
Drawdown Indicators
| TBWIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.11% | -56.78% | +16.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.01% | -9.10% | -2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -12.49% | -18.90% | +6.41% |
Max Drawdown (5Y)Largest decline over 5 years | -40.11% | -25.43% | -14.68% |
Max Drawdown (10Y)Largest decline over 10 years | -40.11% | -33.92% | -6.19% |
Current DrawdownCurrent decline from peak | -3.57% | -1.80% | -1.77% |
Average DrawdownAverage peak-to-trough decline | -10.19% | -10.71% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 2.03% | +1.56% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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