MXXIX vs. TIBAX

Last updated Jun 5, 2026

MXXIX (Marsico Midcap Growth Focus Fund) and TIBAX (Thornburg Investment Income Builder Fund) are both mutual funds - MXXIX is a Mid Cap Growth Equities fund managed by Marsico Investment Fund, while TIBAX is a Global Allocation fund managed by Thornburg. Over the past 10 years, MXXIX returned 16.90%/yr vs 12.40%/yr for TIBAX. A 0.69 correlation means they provide meaningful diversification when combined. MXXIX charges 1.33%/yr vs 1.14%/yr for TIBAX.

Performance

MXXIX vs. TIBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Marsico Midcap Growth Focus Fund (MXXIX) and Thornburg Investment Income Builder Fund (TIBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXXIX achieves a 14.23% return, which is significantly lower than TIBAX's 17.67% return. Over the past 10 years, MXXIX has outperformed TIBAX with an annualized return of 16.90%, while TIBAX has yielded a comparatively lower 12.40% annualized return.

MXXIX

• 1D: -0.51%
• 1M: 2.72%
• YTD: 14.23%
• 6M: 14.38%
• 1Y: 27.73%
• 3Y*: 32.30%
• 5Y*: 13.08%
• 10Y*: 16.90%

TIBAX

• 1D: -0.21%
• 1M: 2.31%
• YTD: 17.67%
• 6M: 20.83%
• 1Y: 38.85%
• 3Y*: 26.43%
• 5Y*: 16.07%
• 10Y*: 12.40%

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

MXXIX vs. TIBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXXIX Marsico Midcap Growth Focus Fund	14.23%	26.09%	42.95%	21.71%	-31.84%	12.04%	45.34%	29.88%	1.76%	30.05%
TIBAX Thornburg Investment Income Builder Fund	17.67%	36.62%	13.23%	18.01%	-7.95%	20.08%	-0.67%	17.72%	-4.54%	14.83%

Correlation

The correlation between MXXIX and TIBAX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 26, 2002	0.69

The correlation between MXXIX and TIBAX shifts across timeframes, from 0.50 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MXXIX vs. TIBAX — Risk / Return Rank

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

MXXIX

MXXIX Risk / Return Rank: 30
MXXIX Sharpe Ratio Rank: 27
MXXIX Sortino Ratio Rank: 26
MXXIX Omega Ratio Rank: 24
MXXIX Calmar Ratio Rank: 34
MXXIX Martin Ratio Rank: 39

TIBAX

TIBAX Risk / Return Rank: 98
TIBAX Sharpe Ratio Rank: 99
TIBAX Sortino Ratio Rank: 98
TIBAX Omega Ratio Rank: 97
TIBAX Calmar Ratio Rank: 97
TIBAX Martin Ratio Rank: 97

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.

MXXIX vs. TIBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Marsico Midcap Growth Focus Fund (MXXIX) 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.

	MXXIX	TIBAX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	4.68	-3.19
Sortino ratio: Return per unit of downside risk	2.12	6.73	-4.61
Omega ratio: Gain probability vs. loss probability	1.26	1.94	-0.68
Calmar ratio: Return relative to maximum drawdown	2.19	7.25	-5.06
Martin ratio: Return relative to average drawdown	8.31	28.29	-19.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXXIX vs. TIBAX - Sharpe Ratio Comparison

The current MXXIX Sharpe Ratio is 1.49, which is lower than the TIBAX Sharpe Ratio of 4.68. The chart below compares the historical Sharpe Ratios of MXXIX and TIBAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MXXIX	TIBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	4.68	-3.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	1.45	-0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.92	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.79	-0.38

Drawdowns

MXXIX vs. TIBAX - Drawdown Comparison

The maximum MXXIX drawdown since its inception was -62.49%, which is greater than TIBAX's maximum drawdown of -49.12%. Use the drawdown chart below to compare losses from any high point for MXXIX and TIBAX.

Drawdown Indicators

	MXXIX	TIBAX	Difference
Max Drawdown Largest peak-to-trough decline	-62.49%	-49.12%	-13.37%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-5.43%	-7.64%
Max Drawdown (3Y) Largest decline over 3 years	-20.05%	-9.20%	-10.85%
Max Drawdown (5Y) Largest decline over 5 years	-40.59%	-20.94%	-19.65%
Max Drawdown (10Y) Largest decline over 10 years	-40.59%	-34.85%	-5.74%
Current Drawdown Current decline from peak	-0.51%	-0.21%	-0.30%
Average Drawdown Average peak-to-trough decline	-18.36%	-5.99%	-12.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	1.39%	+2.05%

Volatility

MXXIX vs. TIBAX - Volatility Comparison

Marsico Midcap Growth Focus Fund (MXXIX) has a higher volatility of 6.30% compared to Thornburg Investment Income Builder Fund (TIBAX) at 3.08%. This indicates that MXXIX's price experiences larger fluctuations and is considered to be riskier than TIBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXXIX	TIBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.30%	3.08%	+3.22%
Volatility (6M) Calculated over the trailing 6-month period	15.42%	6.93%	+8.49%
Volatility (1Y) Calculated over the trailing 1-year period	19.29%	8.41%	+10.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.77%	11.12%	+11.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.81%	13.46%	+8.35%

MXXIX vs. TIBAX - Expense Ratio Comparison

MXXIX has a 1.33% expense ratio, which is higher than TIBAX's 1.14% expense ratio.

Dividends

MXXIX vs. TIBAX - Dividend Comparison

MXXIX's dividend yield for the trailing twelve months is around 10.46%, more than TIBAX's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXXIX Marsico Midcap Growth Focus Fund	10.46%	11.95%	9.18%	1.24%	0.00%	14.22%	2.83%	3.26%	5.37%	0.00%	0.00%	0.00%
TIBAX Thornburg Investment Income Builder Fund	4.86%	5.64%	5.44%	4.67%	5.62%	5.10%	4.11%	4.23%	4.49%	4.22%	3.83%	4.31%

Frequently Asked Questions

Can I hold both MXXIX and TIBAX in my portfolio?

MXXIX and TIBAX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXXIX or TIBAX?

MXXIX has higher volatility (6.30%) compared to TIBAX (3.08%). In terms of maximum drawdown, MXXIX dropped -62.49% vs TIBAX's -49.12%.

Which has better risk-adjusted returns?

TIBAX currently has the higher Sharpe Ratio (4.68 vs 1.49), 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.