LTMFX vs. TIBAX
Compare and contrast key facts about Thornburg Limited Term Municipal Fund (LTMFX) and Thornburg Investment Income Builder Fund (TIBAX).
LTMFX is managed by Thornburg. It was launched on Sep 27, 1984. TIBAX is managed by Thornburg. It was launched on Dec 23, 2002.
Performance
LTMFX vs. TIBAX - Performance Comparison
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LTMFX vs. TIBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTMFX Thornburg Limited Term Municipal Fund | -0.28% | 5.74% | 1.84% | 3.83% | -5.27% | -0.18% | 2.97% | 3.81% | 1.00% | 2.29% |
TIBAX Thornburg Investment Income Builder Fund | 7.98% | 36.62% | 13.23% | 18.01% | -7.95% | 20.08% | -0.67% | 17.72% | -4.54% | 14.83% |
Returns By Period
In the year-to-date period, LTMFX achieves a -0.28% return, which is significantly lower than TIBAX's 7.98% return. Over the past 10 years, LTMFX has underperformed TIBAX with an annualized return of 1.37%, while TIBAX has yielded a comparatively higher 11.70% annualized return.
LTMFX
- 1D
- 0.07%
- 1M
- -1.89%
- YTD
- -0.28%
- 6M
- 0.38%
- 1Y
- 3.61%
- 3Y*
- 3.16%
- 5Y*
- 1.12%
- 10Y*
- 1.37%
TIBAX
- 1D
- 0.31%
- 1M
- -4.88%
- YTD
- 7.98%
- 6M
- 15.33%
- 1Y
- 35.77%
- 3Y*
- 23.23%
- 5Y*
- 14.98%
- 10Y*
- 11.70%
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LTMFX vs. TIBAX - Expense Ratio Comparison
LTMFX has a 0.71% expense ratio, which is lower than TIBAX's 1.14% expense ratio.
Return for Risk
LTMFX vs. TIBAX — Risk / Return Rank
LTMFX
TIBAX
LTMFX vs. TIBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Limited Term Municipal Fund (LTMFX) and Thornburg Investment Income Builder Fund (TIBAX). 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.
| LTMFX | TIBAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.34 | 3.33 | -1.99 |
Sortino ratioReturn per unit of downside risk | 1.86 | 4.24 | -2.38 |
Omega ratioGain probability vs. loss probability | 1.51 | 1.74 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.49 | 4.10 | -2.61 |
Martin ratioReturn relative to average drawdown | 6.83 | 20.22 | -13.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LTMFX | TIBAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 3.33 | -1.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 1.36 | -0.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.87 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.77 | +0.07 |
Correlation
The correlation between LTMFX and TIBAX is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
LTMFX vs. TIBAX - Dividend Comparison
LTMFX's dividend yield for the trailing twelve months is around 3.25%, less than TIBAX's 5.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTMFX Thornburg Limited Term Municipal Fund | 3.25% | 4.28% | 3.60% | 2.11% | 1.62% | 1.27% | 1.54% | 1.78% | 1.83% | 1.64% | 1.57% | 1.56% |
TIBAX Thornburg Investment Income Builder Fund | 5.30% | 5.64% | 5.44% | 4.67% | 5.62% | 5.10% | 4.11% | 4.23% | 4.49% | 4.22% | 3.83% | 4.31% |
Drawdowns
LTMFX vs. TIBAX - Drawdown Comparison
The maximum LTMFX drawdown since its inception was -8.40%, smaller than the maximum TIBAX drawdown of -49.12%. Use the drawdown chart below to compare losses from any high point for LTMFX and TIBAX.
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Drawdown Indicators
| LTMFX | TIBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.40% | -49.12% | +40.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -8.57% | +5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -8.40% | -20.94% | +12.54% |
Max Drawdown (10Y)Largest decline over 10 years | -8.40% | -34.85% | +26.45% |
Current DrawdownCurrent decline from peak | -1.89% | -5.13% | +3.24% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -6.03% | +4.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 1.74% | -1.10% |
Volatility
LTMFX vs. TIBAX - Volatility Comparison
The current volatility for Thornburg Limited Term Municipal Fund (LTMFX) is 0.58%, while Thornburg Investment Income Builder Fund (TIBAX) has a volatility of 3.19%. This indicates that LTMFX experiences smaller price fluctuations and is considered to be less risky than TIBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTMFX | TIBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 3.19% | -2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 1.10% | 6.35% | -5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 10.70% | -7.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.32% | 11.04% | -8.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.26% | 13.43% | -11.17% |