THNMX vs. THIMX
THNMX (Thornburg New Mexico Intermediate Municipal Fund) and THIMX (Thornburg Intermediate Municipal Fund) are both Municipal Bonds funds from Thornburg. Over the past 10 years, THNMX returned 1.16%/yr vs 1.81%/yr for THIMX. Their correlation of 0.87 means they have usually moved in the same direction. THNMX charges 0.99%/yr vs 0.77%/yr for THIMX.
Performance
THNMX vs. THIMX - Performance Comparison
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Returns By Period
In the year-to-date period, THNMX achieves a -0.14% return, which is significantly lower than THIMX's 0.53% return. Over the past 10 years, THNMX has underperformed THIMX with an annualized return of 1.16%, while THIMX has yielded a comparatively higher 1.81% annualized return.
THNMX
- 1D
- 0.00%
- 1M
- -1.61%
- 6M
- -0.86%
- YTD
- -0.14%
- 1Y
- 2.92%
- 3Y*
- 3.00%
- 5Y*
- 0.44%
- 10Y*
- 1.16%
- ALL TIME*
- 3.39%
THIMX
- 1D
- 0.08%
- 1M
- -1.58%
- 6M
- -0.30%
- YTD
- 0.53%
- 1Y
- 4.23%
- 3Y*
- 4.06%
- 5Y*
- 1.21%
- 10Y*
- 1.81%
- ALL TIME*
- 3.93%
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 |
THNMX vs. THIMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
THNMX Thornburg New Mexico Intermediate Municipal Fund | -0.14% | 5.08% | 1.10% | 3.52% | -6.39% | 0.11% | 3.47% | 4.68% | 1.40% | 2.04% |
THIMX Thornburg Intermediate Municipal Fund | 0.53% | 5.97% | 2.45% | 4.88% | -6.63% | 1.00% | 3.81% | 5.86% | 0.70% | 3.61% |
Correlation
The correlation between THNMX and THIMX is 0.80, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1992 | 0.87 |
The correlation between THNMX and THIMX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
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Return for Risk
THNMX vs. THIMX — Risk / Return Rank
THNMX
THIMX
THNMX vs. THIMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg New Mexico Intermediate Municipal Fund (THNMX) and Thornburg Intermediate Municipal Fund (THIMX). 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.
| THNMX | THIMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.48 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.81 | -0.30 |
| Martin ratioReturn relative to average drawdown | 4.62 | 6.06 | -1.44 |
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Drawdowns
THNMX vs. THIMX - Drawdown Comparison
The maximum THNMX drawdown since its inception was -9.86%, roughly equal to the maximum THIMX drawdown of -10.22%. Use the drawdown chart below to compare losses from any high point for THNMX and THIMX.
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Drawdown Indicators
| THNMX | THIMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.86% | -10.22% | +0.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.99% | -2.39% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | -4.32% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -9.72% | -10.03% | +0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -9.86% | -10.22% | +0.36% |
Current DrawdownCurrent decline from peak | -1.69% | -1.66% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -1.22% | -1.33% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.71% | -0.06% |
Volatility
THNMX vs. THIMX - Volatility Comparison
Thornburg New Mexico Intermediate Municipal Fund (THNMX) and Thornburg Intermediate Municipal Fund (THIMX) have volatilities of 0.84% and 0.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| THNMX | THIMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.80% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 1.81% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.98% | 2.23% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.80% | 3.26% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.80% | 3.28% | -0.48% |
THNMX vs. THIMX - Expense Ratio Comparison
THNMX has a 0.99% expense ratio, which is higher than THIMX's 0.77% expense ratio.
Dividends
THNMX vs. THIMX - Dividend Comparison
THNMX's dividend yield for the trailing twelve months is around 2.75%, less than THIMX's 3.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
THIMX Thornburg Intermediate Municipal Fund | 3.41% | 4.82% | 4.03% | 2.60% | 2.40% | 2.25% | 2.39% | 2.62% | 2.48% | 2.18% | 2.04% | 2.08% |
THNMX Thornburg New Mexico Intermediate Municipal Fund | 2.75% | 3.86% | 3.13% | 1.75% | 1.42% | 1.45% | 1.68% | 2.44% | 2.53% | 2.41% | 2.07% | 2.35% |
Frequently Asked Questions
THNMX and THIMX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THNMX has higher volatility (0.84%) compared to THIMX (0.80%). In terms of maximum drawdown, THNMX dropped -9.86% vs THIMX's -10.22%.
THIMX currently has the higher Sharpe Ratio (1.95 vs 1.53), 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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