LTMFX vs. MWTIX
LTMFX (Thornburg Limited Term Municipal Fund) and MWTIX (Metropolitan West Total Return Bond Fund Class I) are both mutual funds - LTMFX is a Municipal Bonds fund managed by Thornburg, while MWTIX is a Total Bond Market fund managed by Metropolitan West Funds. Over the past 10 years, LTMFX returned 1.29%/yr vs 1.37%/yr for MWTIX. Their 0.49 correlation means their historical movements had little consistent relationship. LTMFX charges 0.71%/yr vs 0.45%/yr for MWTIX.
Performance
LTMFX vs. MWTIX - Performance Comparison
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Returns By Period
In the year-to-date period, LTMFX achieves a 0.04% return, which is significantly higher than MWTIX's -0.71% return. Over the past 10 years, LTMFX has underperformed MWTIX with an annualized return of 1.29%, while MWTIX has yielded a comparatively higher 1.37% annualized return.
LTMFX
- 1D
- -0.15%
- 1M
- -1.11%
- 6M
- -0.80%
- YTD
- 0.04%
- 1Y
- 2.07%
- 3Y*
- 3.29%
- 5Y*
- 1.03%
- 10Y*
- 1.29%
- ALL TIME*
- 1.55%
MWTIX
- 1D
- 0.00%
- 1M
- -1.10%
- 6M
- -0.98%
- YTD
- -0.71%
- 1Y
- 1.92%
- 3Y*
- 3.67%
- 5Y*
- -0.94%
- 10Y*
- 1.37%
- ALL TIME*
- 4.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LTMFX vs. MWTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTMFX Thornburg Limited Term Municipal Fund | 0.04% | 5.74% | 1.84% | 3.83% | -5.27% | -0.18% | 2.97% | 3.81% | 1.00% | 2.29% |
MWTIX Metropolitan West Total Return Bond Fund Class I | -0.71% | 7.51% | 0.77% | 6.02% | -15.49% | -1.32% | 9.00% | 9.10% | 0.36% | 3.43% |
Correlation
The correlation between LTMFX and MWTIX is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2000 | 0.49 |
The correlation between LTMFX and MWTIX has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.
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Return for Risk
LTMFX vs. MWTIX — Risk / Return Rank
LTMFX
MWTIX
LTMFX vs. MWTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Limited Term Municipal Fund (LTMFX) and Metropolitan West Total Return Bond Fund Class I (MWTIX). 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.
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.
| LTMFX | MWTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.13 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 0.94 | +0.42 |
| Martin ratioReturn relative to average drawdown | 3.69 | 2.30 | +1.39 |
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Drawdowns
LTMFX vs. MWTIX - Drawdown Comparison
The maximum LTMFX drawdown since its inception was -8.40%, smaller than the maximum MWTIX drawdown of -20.58%. Use the drawdown chart below to compare losses from any high point for LTMFX and MWTIX.
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Drawdown Indicators
| LTMFX | MWTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.40% | -20.58% | +12.18% |
Max Drawdown (1Y)Largest decline over 1 year | -1.96% | -3.34% | +1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -2.95% | -6.09% | +3.14% |
Max Drawdown (5Y)Largest decline over 5 years | -8.40% | -20.51% | +12.11% |
Max Drawdown (10Y)Largest decline over 10 years | -8.40% | -20.58% | +12.18% |
Current DrawdownCurrent decline from peak | -1.57% | -4.89% | +3.32% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -2.78% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 1.36% | -0.64% |
Volatility
LTMFX vs. MWTIX - Volatility Comparison
The current volatility for Thornburg Limited Term Municipal Fund (LTMFX) is 0.54%, while Metropolitan West Total Return Bond Fund Class I (MWTIX) has a volatility of 1.04%. This indicates that LTMFX experiences smaller price fluctuations and is considered to be less risky than MWTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTMFX | MWTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 1.04% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 1.38% | 3.29% | -1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.68% | 4.18% | -2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.37% | 6.66% | -4.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.27% | 5.34% | -3.07% |
LTMFX vs. MWTIX - Expense Ratio Comparison
LTMFX has a 0.71% expense ratio, which is higher than MWTIX's 0.45% expense ratio.
Dividends
LTMFX vs. MWTIX - Dividend Comparison
LTMFX's dividend yield for the trailing twelve months is around 2.98%, less than MWTIX's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTMFX Thornburg Limited Term Municipal Fund | 2.98% | 4.28% | 3.60% | 2.11% | 1.62% | 1.27% | 1.54% | 1.78% | 1.83% | 1.64% | 1.57% | 1.56% |
MWTIX Metropolitan West Total Return Bond Fund Class I | 3.75% | 3.89% | 4.38% | 4.11% | 2.08% | 1.12% | 6.48% | 3.61% | 2.91% | 2.14% | 3.35% | 2.94% |
Frequently Asked Questions
LTMFX and MWTIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MWTIX has higher volatility (1.04%) compared to LTMFX (0.54%). In terms of maximum drawdown, LTMFX dropped -8.40% vs MWTIX's -20.58%.
LTMFX currently has the higher Sharpe Ratio (1.58 vs 0.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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