Thornburg Short Duration Municipal Fund (TLMIX)
The investment seeks current income exempt from federal income tax, consistent with preservation of capital. The fund normally invests 100% of its assets in municipal obligations, the income from which is exempt from the regular federal income tax. It may invest up to 20% of its assets in taxable securities which would produce income not exempt from federal income tax because of market conditions, pending investment of idle funds or to afford liquidity.
Fund Info
US8852167704
885216770
Dec 29, 2013
$2,500,000
Expense Ratio
TLMIX features an expense ratio of 0.50%, 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 Short Duration 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 Short Duration Municipal Fund had a return of 0.61% year-to-date (YTD) and 3.53% in the last 12 months. Over the past 10 years, Thornburg Short Duration Municipal Fund had an annualized return of 1.04%, while the S&P 500 had an annualized return of 11.31%, indicating that Thornburg Short Duration Municipal Fund did not perform as well as the benchmark.
TLMIX
0.61%
0.52%
1.34%
3.53%
1.07%
1.04%
^GSPC (Benchmark)
4.46%
2.46%
9.31%
23.49%
13.03%
11.31%
Monthly Returns
The table below presents the monthly returns of TLMIX, 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 | 0.52% | 0.61% | |||||||||||
| 2024 | 0.02% | 0.10% | 0.10% | -0.06% | 0.27% | 0.53% | 0.70% | 0.62% | 0.36% | -0.22% | 0.36% | -0.06% | 2.76% |
| 2023 | 0.86% | -0.72% | 1.06% | -0.11% | -0.28% | 0.58% | 0.24% | 0.08% | -0.58% | 0.26% | 1.63% | 0.69% | 3.76% |
| 2022 | -1.18% | -0.19% | -1.02% | -0.59% | 0.59% | -0.07% | 0.70% | -0.87% | -1.03% | 0.08% | 1.27% | 0.02% | -2.33% |
| 2021 | 0.12% | -0.19% | 0.11% | 0.12% | 0.03% | -0.12% | 0.19% | -0.05% | -0.13% | -0.13% | 0.04% | -0.04% | -0.04% |
| 2020 | 0.35% | 0.19% | -0.99% | -0.38% | 1.09% | 0.19% | 0.26% | 0.09% | 0.08% | -0.03% | 0.06% | 0.12% | 1.01% |
| 2019 | 0.19% | 0.23% | 0.29% | 0.06% | 0.36% | 0.21% | 0.28% | 0.19% | -0.12% | 0.19% | 0.10% | 0.11% | 2.13% |
| 2018 | 0.17% | 0.02% | 0.01% | -0.06% | 0.24% | 0.17% | 0.08% | 0.02% | -0.05% | -0.05% | 0.29% | 0.29% | 1.15% |
| 2017 | 0.24% | 0.33% | -0.01% | 0.16% | 0.24% | -0.07% | 0.25% | 0.33% | -0.07% | 0.00% | -0.32% | 0.01% | 1.08% |
| 2016 | 0.35% | 0.12% | -0.13% | 0.13% | -0.04% | 0.29% | 0.12% | -0.13% | -0.19% | 0.03% | -0.36% | 0.03% | 0.22% |
| 2015 | 0.24% | -0.13% | -0.06% | -0.05% | -0.14% | 0.12% | 0.20% | 0.11% | 0.12% | 0.11% | -0.21% | -0.06% | 0.25% |
| 2014 | 0.11% | 0.16% | -0.24% | 0.08% | 0.19% | 0.04% | 0.05% | 0.11% | -0.04% | 0.11% | 0.03% | -0.15% | 0.45% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 95, TLMIX is among the top 5% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Thornburg Short Duration Municipal Fund (TLMIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Thornburg Short Duration Municipal Fund provided a 3.29% dividend yield over the last twelve months, with an annual payout of $0.39 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 | $0.39 | $0.39 | $0.34 | $0.15 | $0.06 | $0.13 | $0.18 | $0.15 | $0.12 | $0.06 | $0.04 | $0.04 |
Dividend yield | 3.29% | 3.31% | 2.83% | 1.29% | 0.45% | 1.08% | 1.46% | 1.22% | 1.00% | 0.46% | 0.33% | 0.28% |
Monthly Dividends
The table displays the monthly dividend distributions for Thornburg Short Duration 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 | $0.39 |
| 2023 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.15 |
| 2021 | $0.01 | $0.01 | $0.00 | $0.01 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.06 |
| 2020 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.13 |
| 2019 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.18 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.15 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2016 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.00 | $0.01 | $0.00 | $0.06 |
| 2015 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.04 |
| 2014 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.04 |
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 Short Duration 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 Short Duration Municipal Fund was 4.08%, occurring on Sep 27, 2022. Recovery took 295 trading sessions.
The current Thornburg Short Duration Municipal Fund drawdown is 0.00%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -4.08% | Aug 10, 2021 | 286 | Sep 27, 2022 | 295 | Nov 29, 2023 | 581 |
| -2.5% | Mar 10, 2020 | 9 | Mar 20, 2020 | 87 | Jul 24, 2020 | 96 |
| -0.74% | Aug 25, 2016 | 69 | Dec 1, 2016 | 87 | Apr 7, 2017 | 156 |
| -0.59% | Jan 4, 2024 | 13 | Jan 23, 2024 | 6 | Jan 31, 2024 | 19 |
| -0.58% | Oct 4, 2024 | 14 | Oct 23, 2024 | 26 | Nov 29, 2024 | 40 |
Volatility
Volatility Chart
The current Thornburg Short Duration Municipal Fund volatility is 0.34%, 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.