TBWIX vs. LTMFX
Compare and contrast key facts about Thornburg Better World International Fund (TBWIX) and Thornburg Limited Term Municipal Fund (LTMFX).
TBWIX is managed by Thornburg. It was launched on Sep 30, 2015. LTMFX is managed by Thornburg. It was launched on Sep 27, 1984.
Performance
TBWIX vs. LTMFX - Performance Comparison
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TBWIX vs. LTMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBWIX Thornburg Better World International Fund | -3.56% | 24.25% | 7.10% | 12.72% | -18.02% | 20.88% | 26.67% | 24.57% | -13.61% | 22.88% |
LTMFX Thornburg Limited Term Municipal Fund | -0.20% | 5.74% | 1.84% | 3.83% | -5.27% | -0.18% | 2.97% | 3.81% | 1.00% | 2.29% |
Returns By Period
In the year-to-date period, TBWIX achieves a -3.56% return, which is significantly lower than LTMFX's -0.20% return. Over the past 10 years, TBWIX has outperformed LTMFX with an annualized return of 9.98%, while LTMFX has yielded a comparatively lower 1.38% annualized return.
TBWIX
- 1D
- 2.41%
- 1M
- -7.51%
- YTD
- -3.56%
- 6M
- 0.38%
- 1Y
- 14.65%
- 3Y*
- 10.31%
- 5Y*
- 5.27%
- 10Y*
- 9.98%
LTMFX
- 1D
- 0.07%
- 1M
- -1.67%
- YTD
- -0.20%
- 6M
- 0.38%
- 1Y
- 3.61%
- 3Y*
- 3.18%
- 5Y*
- 1.13%
- 10Y*
- 1.38%
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TBWIX vs. LTMFX - Expense Ratio Comparison
TBWIX has a 1.21% expense ratio, which is higher than LTMFX's 0.71% expense ratio.
Return for Risk
TBWIX vs. LTMFX — Risk / Return Rank
TBWIX
LTMFX
TBWIX vs. LTMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Better World International Fund (TBWIX) and Thornburg Limited Term Municipal Fund (LTMFX). 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.
| TBWIX | LTMFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.97 | 1.16 | -0.19 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.57 | -0.16 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.43 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.52 | -0.38 |
Martin ratioReturn relative to average drawdown | 4.55 | 6.84 | -2.30 |
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
| TBWIX | LTMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.16 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.49 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.61 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.84 | -0.24 |
Correlation
The correlation between TBWIX and LTMFX is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TBWIX vs. LTMFX - Dividend Comparison
TBWIX's dividend yield for the trailing twelve months is around 1.58%, less than LTMFX's 3.25% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBWIX Thornburg Better World International Fund | 1.58% | 1.53% | 1.40% | 1.55% | 0.87% | 15.10% | 0.40% | 1.17% | 10.14% | 3.53% | 5.99% | 0.00% |
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% |
Drawdowns
TBWIX vs. LTMFX - Drawdown Comparison
The maximum TBWIX drawdown since its inception was -40.11%, which is greater than LTMFX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for TBWIX and LTMFX.
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Drawdown Indicators
| TBWIX | LTMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.11% | -8.40% | -31.71% |
Max Drawdown (1Y)Largest decline over 1 year | -12.01% | -2.95% | -9.06% |
Max Drawdown (5Y)Largest decline over 5 years | -40.11% | -8.40% | -31.71% |
Max Drawdown (10Y)Largest decline over 10 years | -40.11% | -8.40% | -31.71% |
Current DrawdownCurrent decline from peak | -9.89% | -1.81% | -8.08% |
Average DrawdownAverage peak-to-trough decline | -10.32% | -1.64% | -8.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 0.65% | +2.36% |
Volatility
TBWIX vs. LTMFX - Volatility Comparison
Thornburg Better World International Fund (TBWIX) has a higher volatility of 5.69% compared to Thornburg Limited Term Municipal Fund (LTMFX) at 0.60%. This indicates that TBWIX's price experiences larger fluctuations and is considered to be riskier than LTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBWIX | LTMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 0.60% | +5.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.79% | 1.10% | +8.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 3.29% | +12.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.58% | 2.32% | +15.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 2.26% | +14.52% |