TSIIX vs. THCGX
TSIIX (Thornburg Strategic Income Fund) and THCGX (Thornburg Small/Mid Cap Growth Fund) are both mutual funds - TSIIX is a Multisector Bonds fund managed by Thornburg, while THCGX is a Large Cap Growth Equities fund managed by Thornburg. Over the past 10 years, TSIIX returned 4.07%/yr vs 8.89%/yr for THCGX. Their 0.25 correlation means their historical movements had little consistent relationship. TSIIX charges 0.60%/yr vs 1.31%/yr for THCGX.
Performance
TSIIX vs. THCGX - Performance Comparison
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Returns By Period
In the year-to-date period, TSIIX achieves a 0.62% return, which is significantly lower than THCGX's 15.08% return. Over the past 10 years, TSIIX has underperformed THCGX with an annualized return of 4.07%, while THCGX has yielded a comparatively higher 8.89% annualized return.
TSIIX
- 1D
- 0.26%
- 1M
- -0.61%
- 6M
- 0.46%
- YTD
- 0.62%
- 1Y
- 3.18%
- 3Y*
- 5.60%
- 5Y*
- 2.79%
- 10Y*
- 4.07%
- ALL TIME*
- 5.82%
THCGX
- 1D
- 2.70%
- 1M
- 1.61%
- 6M
- 20.00%
- YTD
- 15.08%
- 1Y
- 25.66%
- 3Y*
- 13.66%
- 5Y*
- 0.78%
- 10Y*
- 8.89%
- ALL TIME*
- 7.33%
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 |
TSIIX vs. THCGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSIIX Thornburg Strategic Income Fund | 0.62% | 7.58% | 4.85% | 7.63% | -6.44% | 2.80% | 8.27% | 7.92% | 0.70% | 6.48% |
THCGX Thornburg Small/Mid Cap Growth Fund | 15.08% | 4.31% | 19.67% | 19.56% | -34.19% | -4.97% | 41.70% | 28.95% | -2.56% | 23.91% |
Correlation
The correlation between TSIIX and THCGX is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.22 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2007 | 0.25 |
The correlation between TSIIX and THCGX shifts across timeframes, from 0.18 (10 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TSIIX vs. THCGX — Risk / Return Rank
TSIIX
THCGX
TSIIX vs. THCGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Strategic Income Fund (TSIIX) and Thornburg Small/Mid Cap Growth Fund (THCGX). 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.
| TSIIX | THCGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.52 | -0.03 |
| Martin ratioReturn relative to average drawdown | 4.86 | 4.86 | -0.01 |
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Drawdowns
TSIIX vs. THCGX - Drawdown Comparison
The maximum TSIIX drawdown since its inception was -21.98%, smaller than the maximum THCGX drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for TSIIX and THCGX.
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Drawdown Indicators
| TSIIX | THCGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.98% | -63.67% | +41.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -15.53% | +13.39% |
Max Drawdown (3Y)Largest decline over 3 years | -2.56% | -30.25% | +27.69% |
Max Drawdown (5Y)Largest decline over 5 years | -9.40% | -63.67% | +54.27% |
Max Drawdown (10Y)Largest decline over 10 years | -9.58% | -63.67% | +54.09% |
Current DrawdownCurrent decline from peak | -0.73% | -31.86% | +31.13% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -21.31% | +19.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 4.85% | -4.19% |
Volatility
TSIIX vs. THCGX - Volatility Comparison
The current volatility for Thornburg Strategic Income Fund (TSIIX) is 0.71%, while Thornburg Small/Mid Cap Growth Fund (THCGX) has a volatility of 7.26%. This indicates that TSIIX experiences smaller price fluctuations and is considered to be less risky than THCGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSIIX | THCGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 7.26% | -6.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 15.70% | -13.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.65% | 20.87% | -18.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.39% | 37.09% | -33.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.96% | 30.19% | -27.23% |
TSIIX vs. THCGX - Expense Ratio Comparison
TSIIX has a 0.60% expense ratio, which is lower than THCGX's 1.31% expense ratio.
Dividends
TSIIX vs. THCGX - Dividend Comparison
TSIIX's dividend yield for the trailing twelve months is around 4.50%, while THCGX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
THCGX Thornburg Small/Mid Cap Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 54.25% | 6.23% | 9.32% | 0.00% | 0.00% | 0.00% | 0.00% |
TSIIX Thornburg Strategic Income Fund | 4.50% | 4.99% | 5.10% | 4.50% | 3.49% | 4.17% | 3.70% | 3.82% | 3.40% | 3.59% | 3.43% | 4.51% |
Frequently Asked Questions
TSIIX and THCGX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THCGX has higher volatility (7.26%) compared to TSIIX (0.71%). In terms of maximum drawdown, TSIIX dropped -21.98% vs THCGX's -63.67%.
TSIIX currently has the higher Sharpe Ratio (1.21 vs 1.13), 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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