TSSIX vs. LTMFX
Compare and contrast key facts about Thornburg Strategic Municipal Income Fund (TSSIX) and Thornburg Limited Term Municipal Fund (LTMFX).
TSSIX is managed by Thornburg. It was launched on Mar 31, 2009. LTMFX is managed by Thornburg. It was launched on Sep 27, 1984.
Performance
TSSIX vs. LTMFX - Performance Comparison
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TSSIX vs. LTMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSSIX Thornburg Strategic Municipal Income Fund | -0.52% | 5.62% | 3.77% | 5.51% | -8.30% | 1.50% | 4.03% | 5.99% | 1.04% | 4.21% |
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, TSSIX achieves a -0.52% return, which is significantly lower than LTMFX's -0.28% return. Over the past 10 years, TSSIX has outperformed LTMFX with an annualized return of 2.04%, while LTMFX has yielded a comparatively lower 1.37% annualized return.
TSSIX
- 1D
- 0.14%
- 1M
- -2.32%
- YTD
- -0.52%
- 6M
- 0.57%
- 1Y
- 3.66%
- 3Y*
- 4.01%
- 5Y*
- 1.35%
- 10Y*
- 2.04%
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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TSSIX vs. LTMFX - Expense Ratio Comparison
TSSIX has a 0.59% expense ratio, which is lower than LTMFX's 0.71% expense ratio.
Return for Risk
TSSIX vs. LTMFX — Risk / Return Rank
TSSIX
LTMFX
TSSIX vs. LTMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Strategic Municipal Income Fund (TSSIX) 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.
| TSSIX | LTMFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.88 | 1.34 | -0.47 |
Sortino ratioReturn per unit of downside risk | 1.24 | 1.86 | -0.63 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.51 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.49 | -0.48 |
Martin ratioReturn relative to average drawdown | 4.17 | 6.83 | -2.66 |
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
| TSSIX | LTMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 1.34 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.48 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.61 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.30 | 0.83 | +0.47 |
Correlation
The correlation between TSSIX and LTMFX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TSSIX vs. LTMFX - Dividend Comparison
TSSIX's dividend yield for the trailing twelve months is around 4.11%, more than LTMFX's 3.25% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSSIX Thornburg Strategic Municipal Income Fund | 4.11% | 5.27% | 4.42% | 2.86% | 2.48% | 2.08% | 2.61% | 2.95% | 2.76% | 2.65% | 2.40% | 2.63% |
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
TSSIX vs. LTMFX - Drawdown Comparison
The maximum TSSIX drawdown since its inception was -12.64%, which is greater than LTMFX's maximum drawdown of -8.40%. Use the drawdown chart below to compare losses from any high point for TSSIX and LTMFX.
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Drawdown Indicators
| TSSIX | LTMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -8.40% | -4.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.67% | -2.95% | -1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -12.64% | -8.40% | -4.24% |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | -8.40% | -4.24% |
Current DrawdownCurrent decline from peak | -2.32% | -1.89% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -1.64% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.64% | +0.49% |
Volatility
TSSIX vs. LTMFX - Volatility Comparison
Thornburg Strategic Municipal Income Fund (TSSIX) has a higher volatility of 0.85% compared to Thornburg Limited Term Municipal Fund (LTMFX) at 0.58%. This indicates that TSSIX'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
| TSSIX | LTMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.58% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 1.10% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 3.29% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.58% | 2.32% | +1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.46% | 2.26% | +1.20% |