TPLS vs. TMB

Last updated Jun 23, 2026

TPLS (Thornburg Core Plus Bond ETF) and TMB (Thornburg Multi Sector Bond ETF) are both exchange-traded funds - TPLS is a Intermediate Core-Plus Bond fund actively managed by Thornburg, while TMB is a Multisector Bonds fund actively managed by Thornburg. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. TPLS charges 0.45%/yr vs 0.55%/yr for TMB.

Performance

TPLS vs. TMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Core Plus Bond ETF (TPLS) and Thornburg Multi Sector Bond ETF (TMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TPLS

• 1D: -0.28%
• 1M: 0.84%
• YTD: 0.56%
• 6M: 0.73%
• 1Y: 4.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMB

• 1D: -0.38%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TPLS vs. TMB - Yearly Performance Comparison

	2026 (YTD)
TPLS Thornburg Core Plus Bond ETF	0.84%
TMB Thornburg Multi Sector Bond ETF	0.22%

Correlation

The correlation between TPLS and TMB is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.81

Return for Risk

TPLS vs. TMB — Risk / Return Rank

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

TPLS

TPLS Risk / Return Rank: 33
TPLS Sharpe Ratio Rank: 35
TPLS Sortino Ratio Rank: 35
TPLS Omega Ratio Rank: 33
TPLS Calmar Ratio Rank: 32
TPLS Martin Ratio Rank: 30

TMB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TPLS vs. TMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Core Plus Bond ETF (TPLS) and Thornburg Multi Sector Bond ETF (TMB). 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.

	TPLS	TMB	Difference
Sharpe ratio: Return per unit of total volatility	1.20	—	—
Sortino ratio: Return per unit of downside risk	1.78	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.53	—	—
Martin ratio: Return relative to average drawdown	4.17	—	—

Drawdowns

TPLS vs. TMB - Drawdown Comparison

The maximum TPLS drawdown since its inception was -3.04%, which is greater than TMB's maximum drawdown of -0.59%. Use the drawdown chart below to compare losses from any high point for TPLS and TMB.

Drawdown Indicators

	TPLS	TMB	Difference
Max Drawdown Largest peak-to-trough decline	-3.04%	-0.59%	-2.45%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	—	—
Current Drawdown Current decline from peak	-1.44%	-0.59%	-0.85%
Average Drawdown Average peak-to-trough decline	-0.92%	-0.16%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	—	—

Volatility

Volatility by Period

	TPLS	TMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	3.53%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.51%	3.53%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.51%	3.53%	+0.98%

TPLS vs. TMB - Expense Ratio Comparison

TPLS has a 0.45% expense ratio, which is lower than TMB's 0.55% expense ratio.

Dividends

TPLS vs. TMB - Dividend Comparison

TPLS's dividend yield for the trailing twelve months is around 4.60%, more than TMB's 0.36% yield.

Position	TTM	2025
TMB Thornburg Multi Sector Bond ETF	0.36%	0.00%
TPLS Thornburg Core Plus Bond ETF	4.60%	4.28%

Frequently Asked Questions

Can I hold both TPLS and TMB in my portfolio?

TPLS and TMB have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TPLS or TMB?

On fees, TPLS is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TPLS or TMB?

TPLS is cheaper with a 0.45% expense ratio, compared with 0.55% for TMB.

Which ETF pays a higher dividend yield, TPLS or TMB?

TPLS has the higher dividend yield at 4.60%, compared with 0.36% for TMB.

What is the main difference between TPLS and TMB?

TPLS is categorized as Intermediate Core-Plus Bond, while TMB is Multisector Bonds. Their fees differ too: 0.45% for TPLS and 0.55% for TMB.