TIBAX vs. LTMFX
Compare and contrast key facts about Thornburg Investment Income Builder Fund (TIBAX) and Thornburg Limited Term Municipal Fund (LTMFX).
TIBAX is managed by Thornburg. It was launched on Dec 23, 2002. LTMFX is managed by Thornburg. It was launched on Sep 27, 1984.
Performance
TIBAX vs. LTMFX - Performance Comparison
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TIBAX vs. LTMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Returns By Period
In the year-to-date period, TIBAX achieves a 7.98% return, which is significantly higher than LTMFX's -0.28% return. Over the past 10 years, TIBAX has outperformed LTMFX with an annualized return of 11.70%, while LTMFX has yielded a comparatively lower 1.37% annualized return.
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%
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%
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TIBAX vs. LTMFX - Expense Ratio Comparison
TIBAX has a 1.14% expense ratio, which is higher than LTMFX's 0.71% expense ratio.
Return for Risk
TIBAX vs. LTMFX — Risk / Return Rank
TIBAX
LTMFX
TIBAX vs. LTMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Investment Income Builder Fund (TIBAX) 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.
| TIBAX | LTMFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.33 | 1.34 | +1.99 |
Sortino ratioReturn per unit of downside risk | 4.24 | 1.86 | +2.38 |
Omega ratioGain probability vs. loss probability | 1.74 | 1.51 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 4.10 | 1.49 | +2.61 |
Martin ratioReturn relative to average drawdown | 20.22 | 6.83 | +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
| TIBAX | LTMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.33 | 1.34 | +1.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.36 | 0.48 | +0.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.61 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.83 | -0.07 |
Correlation
The correlation between TIBAX and LTMFX 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
TIBAX vs. LTMFX - Dividend Comparison
TIBAX's dividend yield for the trailing twelve months is around 5.30%, more than LTMFX's 3.25% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
TIBAX vs. LTMFX - Drawdown Comparison
The maximum TIBAX drawdown since its inception was -49.12%, which is greater than LTMFX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for TIBAX and LTMFX.
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Drawdown Indicators
| TIBAX | LTMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.12% | -8.40% | -40.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.57% | -2.95% | -5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -20.94% | -8.40% | -12.54% |
Max Drawdown (10Y)Largest decline over 10 years | -34.85% | -8.40% | -26.45% |
Current DrawdownCurrent decline from peak | -5.13% | -1.89% | -3.24% |
Average DrawdownAverage peak-to-trough decline | -6.03% | -1.64% | -4.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 0.64% | +1.10% |
Volatility
TIBAX vs. LTMFX - Volatility Comparison
Thornburg Investment Income Builder Fund (TIBAX) has a higher volatility of 3.19% compared to Thornburg Limited Term Municipal Fund (LTMFX) at 0.58%. This indicates that TIBAX'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
| TIBAX | LTMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 0.58% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 1.10% | +5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.70% | 3.29% | +7.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.04% | 2.32% | +8.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.43% | 2.26% | +11.17% |