TIBAX vs. TIBIX
TIBAX (Thornburg Investment Income Builder Fund) and TIBIX (Thornburg Investment Income Builder Fund Class I) are both mutual funds - TIBAX is a Global Allocation fund managed by Thornburg, while TIBIX is a Diversified Portfolio fund actively managed by Thornburg. Over the past 10 years, TIBAX returned 12.40%/yr vs 12.70%/yr for TIBIX. With a 1.00 correlation, they move nearly in lockstep. TIBAX charges 1.14%/yr vs 0.93%/yr for TIBIX.
Performance
TIBAX vs. TIBIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TIBAX having a 17.67% return and TIBIX slightly higher at 17.68%. Both investments have delivered pretty close results over the past 10 years, with TIBAX having a 12.40% annualized return and TIBIX not far ahead at 12.70%.
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%
TIBIX
- 1D
- -0.23%
- 1M
- 2.29%
- YTD
- 17.68%
- 6M
- 20.98%
- 1Y
- 39.13%
- 3Y*
- 26.73%
- 5Y*
- 16.36%
- 10Y*
- 12.70%
TIBAX vs. TIBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
TIBIX Thornburg Investment Income Builder Fund Class I | 17.68% | 37.01% | 13.48% | 18.28% | -7.69% | 20.36% | -0.40% | 18.01% | -4.31% | 15.23% |
Correlation
The correlation between TIBAX and TIBIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2003 | 1.00 |
The correlation between TIBAX and TIBIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
TIBAX vs. TIBIX — Risk / Return Rank
TIBAX
TIBIX
TIBAX vs. TIBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Investment Income Builder Fund (TIBAX) and Thornburg Investment Income Builder Fund Class I (TIBIX). 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 | TIBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.94 | 1.94 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 7.25 | 7.37 | -0.12 |
| Martin ratioReturn relative to average drawdown | 28.29 | 28.75 | -0.46 |
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 | TIBIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.68 | 4.69 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.45 | 1.47 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | 0.94 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.77 | +0.03 |
Drawdowns
TIBAX vs. TIBIX - Drawdown Comparison
The maximum TIBAX drawdown since its inception was -49.12%, roughly equal to the maximum TIBIX drawdown of -48.88%. Use the drawdown chart below to compare losses from any high point for TIBAX and TIBIX.
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Drawdown Indicators
| TIBAX | TIBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.12% | -48.88% | -0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -5.39% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -9.20% | -9.23% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.94% | -20.79% | -0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -34.85% | -34.85% | 0.00% |
Current DrawdownCurrent decline from peak | -0.21% | -0.23% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -5.96% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.38% | +0.01% |
Volatility
TIBAX vs. TIBIX - Volatility Comparison
Thornburg Investment Income Builder Fund (TIBAX) and Thornburg Investment Income Builder Fund Class I (TIBIX) have volatilities of 3.08% and 3.08%, 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
| TIBAX | TIBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 3.08% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.93% | 6.96% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.41% | 8.46% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.12% | 11.16% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.46% | 13.50% | -0.04% |
TIBAX vs. TIBIX - Expense Ratio Comparison
TIBAX has a 1.14% expense ratio, which is higher than TIBIX's 0.93% expense ratio.
Dividends
TIBAX vs. TIBIX - Dividend Comparison
TIBAX's dividend yield for the trailing twelve months is around 4.86%, less than TIBIX's 5.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TIBIX Thornburg Investment Income Builder Fund Class I | 5.04% | 5.83% | 5.67% | 4.89% | 5.89% | 5.33% | 4.31% | 4.46% | 4.77% | 4.52% | 4.14% | 4.66% |
Frequently Asked Questions
With a correlation of 1.00, TIBAX and TIBIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
TIBIX has higher volatility (3.08%) compared to TIBAX (3.08%). In terms of maximum drawdown, TIBAX dropped -49.12% vs TIBIX's -48.88%.
TIBIX currently has the higher Sharpe Ratio (4.69 vs 4.68), 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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