TVAFX vs. TIBAX
Compare and contrast key facts about Thornburg Small/Mid Cap Core Fund (TVAFX) and Thornburg Investment Income Builder Fund (TIBAX).
TVAFX is managed by Thornburg. It was launched on Oct 2, 1995. TIBAX is managed by Thornburg. It was launched on Dec 23, 2002.
Performance
TVAFX vs. TIBAX - Performance Comparison
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TVAFX vs. TIBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TVAFX Thornburg Small/Mid Cap Core Fund | 2.92% | -0.93% | 19.41% | 13.14% | -19.55% | 13.45% | 11.84% | 28.88% | -9.70% | 23.33% |
TIBAX Thornburg Investment Income Builder Fund | 9.81% | 36.62% | 13.23% | 18.01% | -7.95% | 20.08% | -0.67% | 17.72% | -4.54% | 14.83% |
Returns By Period
In the year-to-date period, TVAFX achieves a 2.92% return, which is significantly lower than TIBAX's 9.81% return. Over the past 10 years, TVAFX has underperformed TIBAX with an annualized return of 8.19%, while TIBAX has yielded a comparatively higher 11.89% annualized return.
TVAFX
- 1D
- 2.73%
- 1M
- -6.48%
- YTD
- 2.92%
- 6M
- 2.23%
- 1Y
- 14.70%
- 3Y*
- 11.11%
- 5Y*
- 2.94%
- 10Y*
- 8.19%
TIBAX
- 1D
- 1.70%
- 1M
- -2.45%
- YTD
- 9.81%
- 6M
- 16.81%
- 1Y
- 37.83%
- 3Y*
- 23.93%
- 5Y*
- 15.19%
- 10Y*
- 11.89%
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TVAFX vs. TIBAX - Expense Ratio Comparison
TVAFX has a 1.31% expense ratio, which is higher than TIBAX's 1.14% expense ratio.
Return for Risk
TVAFX vs. TIBAX — Risk / Return Rank
TVAFX
TIBAX
TVAFX vs. TIBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thornburg Small/Mid Cap Core Fund (TVAFX) and Thornburg Investment Income Builder Fund (TIBAX). 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.
| TVAFX | TIBAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.67 | 3.55 | -2.88 |
Sortino ratioReturn per unit of downside risk | 1.09 | 4.51 | -3.42 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.79 | -0.63 |
Calmar ratioReturn relative to maximum drawdown | 1.04 | 4.40 | -3.36 |
Martin ratioReturn relative to average drawdown | 4.00 | 21.51 | -17.51 |
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
| TVAFX | TIBAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 3.55 | -2.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 1.38 | -1.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.89 | -0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.77 | -0.37 |
Correlation
The correlation between TVAFX and TIBAX is 0.77, 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
TVAFX vs. TIBAX - Dividend Comparison
TVAFX has not paid dividends to shareholders, while TIBAX's dividend yield for the trailing twelve months is around 5.21%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TVAFX Thornburg Small/Mid Cap Core Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 36.39% | 0.00% | 0.35% | 0.47% | 0.53% | 0.34% | 0.00% |
TIBAX Thornburg Investment Income Builder Fund | 5.21% | 5.64% | 5.44% | 4.67% | 5.62% | 5.10% | 4.11% | 4.23% | 4.49% | 4.22% | 3.83% | 4.31% |
Drawdowns
TVAFX vs. TIBAX - Drawdown Comparison
The maximum TVAFX drawdown since its inception was -59.41%, which is greater than TIBAX's maximum drawdown of -49.12%. Use the drawdown chart below to compare losses from any high point for TVAFX and TIBAX.
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Drawdown Indicators
| TVAFX | TIBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.41% | -49.12% | -10.29% |
Max Drawdown (1Y)Largest decline over 1 year | -14.64% | -8.57% | -6.07% |
Max Drawdown (5Y)Largest decline over 5 years | -46.05% | -20.94% | -25.11% |
Max Drawdown (10Y)Largest decline over 10 years | -46.05% | -34.85% | -11.20% |
Current DrawdownCurrent decline from peak | -20.70% | -3.52% | -17.18% |
Average DrawdownAverage peak-to-trough decline | -13.66% | -6.03% | -7.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 1.75% | +2.06% |
Volatility
TVAFX vs. TIBAX - Volatility Comparison
Thornburg Small/Mid Cap Core Fund (TVAFX) has a higher volatility of 6.72% compared to Thornburg Investment Income Builder Fund (TIBAX) at 3.65%. This indicates that TVAFX's price experiences larger fluctuations and is considered to be riskier than TIBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TVAFX | TIBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.72% | 3.65% | +3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 13.04% | 6.54% | +6.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.87% | 10.79% | +12.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.03% | 11.07% | +17.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.63% | 13.44% | +11.19% |