GGIFX vs. LTUSX

Last updated Apr 1, 2026

Compare and contrast key facts about Victory INCORE Fund for Income (GGIFX) and Thornburg Limited Term U.S. Government Fund (LTUSX).

GGIFX is managed by Victory. It was launched on Sep 15, 1987. LTUSX is managed by Thornburg. It was launched on Nov 15, 1987.

Performance

GGIFX vs. LTUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory INCORE Fund for Income (GGIFX) and Thornburg Limited Term U.S. Government Fund (LTUSX). The values are adjusted to include any dividend payments, if applicable.

GGIFX vs. LTUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GGIFX Victory INCORE Fund for Income	0.06%	4.28%	4.04%	4.01%	-5.47%	-1.74%	2.78%	3.85%	0.96%	0.40%
LTUSX Thornburg Limited Term U.S. Government Fund	0.37%	6.40%	2.40%	3.40%	-8.06%	-1.82%	3.77%	3.61%	0.98%	0.60%

Returns By Period

In the year-to-date period, GGIFX achieves a 0.06% return, which is significantly lower than LTUSX's 0.37% return. Over the past 10 years, GGIFX has outperformed LTUSX with an annualized return of 1.14%, while LTUSX has yielded a comparatively lower 1.03% annualized return.

GGIFX

• 1D: 0.15%
• 1M: -0.73%
• YTD: 0.06%
• 6M: 1.14%
• 1Y: 3.38%
• 3Y*: 3.61%
• 5Y*: 1.03%
• 10Y*: 1.14%

LTUSX

• 1D: 0.33%
• 1M: -1.60%
• YTD: 0.37%
• 6M: 1.36%
• 1Y: 4.15%
• 3Y*: 3.46%
• 5Y*: 0.75%
• 10Y*: 1.03%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GGIFX vs. LTUSX - Expense Ratio Comparison

GGIFX has a 0.91% expense ratio, which is lower than LTUSX's 0.92% expense ratio.

LTUSX

Thornburg Limited Term U.S. Government Fund

GGIFX

Victory INCORE Fund for Income

Return for Risk

GGIFX vs. LTUSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GGIFX

GGIFX Risk / Return Rank: 93
GGIFX Sharpe Ratio Rank: 89
GGIFX Sortino Ratio Rank: 93
GGIFX Omega Ratio Rank: 92
GGIFX Calmar Ratio Rank: 96
GGIFX Martin Ratio Rank: 94

LTUSX

LTUSX Risk / Return Rank: 77
LTUSX Sharpe Ratio Rank: 76
LTUSX Sortino Ratio Rank: 78
LTUSX Omega Ratio Rank: 65
LTUSX Calmar Ratio Rank: 89
LTUSX Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GGIFX vs. LTUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory INCORE Fund for Income (GGIFX) and Thornburg Limited Term U.S. Government Fund (LTUSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GGIFX	LTUSX	Difference
Sharpe ratio Return per unit of total volatility	1.83	1.38	+0.45
Sortino ratio Return per unit of downside risk	2.83	2.00	+0.83
Omega ratio Gain probability vs. loss probability	1.44	1.25	+0.19
Calmar ratio Return relative to maximum drawdown	3.59	2.47	+1.12
Martin ratio Return relative to average drawdown	12.80	7.64	+5.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGIFX vs. LTUSX - Sharpe Ratio Comparison

The current GGIFX Sharpe Ratio is 1.83, which is higher than the LTUSX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of GGIFX and LTUSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GGIFX	LTUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.38	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.19	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.34	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	1.15	+0.04

Correlation

The correlation between GGIFX and LTUSX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GGIFX vs. LTUSX - Dividend Comparison

GGIFX's dividend yield for the trailing twelve months is around 5.00%, more than LTUSX's 2.32% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGIFX Victory INCORE Fund for Income	5.00%	4.21%	5.33%	5.39%	5.40%	4.99%	4.61%	5.13%	5.59%	5.21%	5.22%	5.07%
LTUSX Thornburg Limited Term U.S. Government Fund	2.32%	2.69%	2.62%	1.89%	1.63%	1.21%	1.35%	1.77%	1.90%	1.45%	2.52%	1.50%

Drawdowns

GGIFX vs. LTUSX - Drawdown Comparison

The maximum GGIFX drawdown since its inception was -9.08%, smaller than the maximum LTUSX drawdown of -12.34%. Use the drawdown chart below to compare losses from any high point for GGIFX and LTUSX.

Drawdown Indicators

	GGIFX	LTUSX	Difference
Max Drawdown Largest peak-to-trough decline	-9.08%	-12.34%	+3.26%
Max Drawdown (1Y) Largest decline over 1 year	-1.03%	-2.00%	+0.97%
Max Drawdown (5Y) Largest decline over 5 years	-8.39%	-11.69%	+3.30%
Max Drawdown (10Y) Largest decline over 10 years	-9.08%	-12.34%	+3.26%
Current Drawdown Current decline from peak	-0.73%	-1.60%	+0.87%
Average Drawdown Average peak-to-trough decline	-1.17%	-1.40%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	0.65%	-0.36%

Volatility

GGIFX vs. LTUSX - Volatility Comparison

The current volatility for Victory INCORE Fund for Income (GGIFX) is 0.67%, while Thornburg Limited Term U.S. Government Fund (LTUSX) has a volatility of 1.24%. This indicates that GGIFX experiences smaller price fluctuations and is considered to be less risky than LTUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGIFX	LTUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	1.24%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	1.09%	1.99%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	1.86%	3.29%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.53%	3.99%	-1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.26%	3.06%	-0.80%