TSIIX vs. THNYX
TSIIX (Thornburg Strategic Income Fund) and THNYX (Thornburg New York Intermediate Municipal Bond Fund) are both mutual funds - TSIIX is a Multisector Bonds fund managed by Thornburg, while THNYX is a Municipal Bonds fund managed by Thornburg. Over the past 10 years, TSIIX returned 4.28%/yr vs 1.40%/yr for THNYX. At a 0.32 correlation, their price movements are largely independent. TSIIX charges 0.60%/yr vs 0.99%/yr for THNYX.
Performance
TSIIX vs. THNYX - Performance Comparison
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Returns By Period
In the year-to-date period, TSIIX achieves a 0.63% return, which is significantly lower than THNYX's 1.80% return. Over the past 10 years, TSIIX has outperformed THNYX with an annualized return of 4.28%, while THNYX has yielded a comparatively lower 1.40% annualized return.
TSIIX
- 1D
- -0.17%
- 1M
- 0.60%
- YTD
- 0.63%
- 6M
- 1.06%
- 1Y
- 4.88%
- 3Y*
- 5.87%
- 5Y*
- 2.98%
- 10Y*
- 4.28%
THNYX
- 1D
- 0.00%
- 1M
- 1.27%
- YTD
- 1.80%
- 6M
- 2.05%
- 1Y
- 6.25%
- 3Y*
- 3.69%
- 5Y*
- 1.29%
- 10Y*
- 1.40%
TSIIX vs. THNYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSIIX Thornburg Strategic Income Fund | 0.63% | 7.58% | 4.85% | 7.63% | -6.44% | 2.80% | 8.27% | 7.92% | 0.70% | 6.48% |
THNYX Thornburg New York Intermediate Municipal Bond Fund | 1.80% | 4.91% | 1.55% | 4.29% | -5.82% | 0.33% | 2.99% | 4.76% | 0.30% | 2.67% |
Correlation
The correlation between TSIIX and THNYX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2007 | 0.32 |
Over the past year, TSIIX and THNYX have become more correlated (0.54) than their long-term average of 0.32, meaning their price movements have been converging.
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Return for Risk
TSIIX vs. THNYX — Risk / Return Rank
TSIIX
THNYX
TSIIX vs. THNYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Strategic Income Fund (TSIIX) and Thornburg New York Intermediate Municipal Bond Fund (THNYX). 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 | THNYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.77 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.98 | -0.65 |
| Martin ratioReturn relative to average drawdown | 8.00 | 10.42 | -2.43 |
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Drawdowns
TSIIX vs. THNYX - Drawdown Comparison
The maximum TSIIX drawdown since its inception was -21.98%, which is greater than THNYX's maximum drawdown of -9.88%. Use the drawdown chart below to compare losses from any high point for TSIIX and THNYX.
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Drawdown Indicators
| TSIIX | THNYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.98% | -9.88% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -2.14% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -2.62% | -4.10% | +1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -9.40% | -9.21% | -0.19% |
Max Drawdown (10Y)Largest decline over 10 years | -9.58% | -9.88% | +0.30% |
Current DrawdownCurrent decline from peak | -0.72% | -0.05% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -1.32% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.61% | +0.01% |
Volatility
TSIIX vs. THNYX - Volatility Comparison
Thornburg Strategic Income Fund (TSIIX) has a higher volatility of 0.81% compared to Thornburg New York Intermediate Municipal Bond Fund (THNYX) at 0.60%. This indicates that TSIIX's price experiences larger fluctuations and is considered to be riskier than THNYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSIIX | THNYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.60% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.09% | 1.52% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.80% | 2.16% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.39% | 2.97% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.96% | 3.11% | -0.15% |
TSIIX vs. THNYX - Expense Ratio Comparison
TSIIX has a 0.60% expense ratio, which is lower than THNYX's 0.99% expense ratio.
Dividends
TSIIX vs. THNYX - Dividend Comparison
TSIIX's dividend yield for the trailing twelve months is around 4.89%, more than THNYX's 3.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
THNYX Thornburg New York Intermediate Municipal Bond Fund | 3.08% | 4.06% | 3.39% | 2.00% | 1.95% | 1.80% | 1.94% | 2.45% | 2.57% | 2.49% | 2.31% | 2.15% |
TSIIX Thornburg Strategic Income Fund | 4.89% | 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 THNYX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSIIX has higher volatility (0.81%) compared to THNYX (0.60%). In terms of maximum drawdown, TSIIX dropped -21.98% vs THNYX's -9.88%.
THNYX currently has the higher Sharpe Ratio (2.95 vs 1.79), 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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