TXUE vs. TMB

Last updated Jun 25, 2026

TXUE (Thornburg International Equity ETF) and TMB (Thornburg Multi Sector Bond ETF) are both exchange-traded funds - TXUE is a Foreign Large Cap Equities fund actively managed by Thornburg, while TMB is a Multisector Bonds fund actively managed by Thornburg. Both are actively managed. A 0.56 correlation means they provide meaningful diversification when combined. TXUE charges 0.65%/yr vs 0.55%/yr for TMB.

Performance

TXUE vs. TMB - Performance Comparison

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

Returns By Period

TXUE

• 1D: -0.25%
• 1M: -0.77%
• YTD: 8.93%
• 6M: 8.65%
• 1Y: 19.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMB

• 1D: 0.16%
• 1M: 0.68%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TXUE vs. TMB - Yearly Performance Comparison

	2026 (YTD)
TXUE Thornburg International Equity ETF	-0.77%
TMB Thornburg Multi Sector Bond ETF	0.68%

Correlation

The correlation between TXUE and TMB is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.56

Return for Risk

TXUE vs. TMB — Risk / Return Rank

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

TXUE

TXUE Risk / Return Rank: 42
TXUE Sharpe Ratio Rank: 44
TXUE Sortino Ratio Rank: 42
TXUE Omega Ratio Rank: 42
TXUE Calmar Ratio Rank: 39
TXUE Martin Ratio Rank: 44

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.

TXUE vs. TMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg International Equity ETF (TXUE) 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.

	TXUE	TMB	Difference
Sharpe ratio: Return per unit of total volatility	1.35	—	—
Sortino ratio: Return per unit of downside risk	1.92	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.71	—	—
Martin ratio: Return relative to average drawdown	6.35	—	—

Drawdowns

TXUE vs. TMB - Drawdown Comparison

The maximum TXUE drawdown since its inception was -12.97%, which is greater than TMB's maximum drawdown of -0.59%. Use the drawdown chart below to compare losses from any high point for TXUE and TMB.

Drawdown Indicators

	TXUE	TMB	Difference
Max Drawdown Largest peak-to-trough decline	-12.97%	-0.59%	-12.38%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	—	—
Current Drawdown Current decline from peak	-2.44%	-0.14%	-2.30%
Average Drawdown Average peak-to-trough decline	-1.82%	-0.17%	-1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	—	—

Volatility

Volatility by Period

	TXUE	TMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.90%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.18%	3.52%	+10.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	3.52%	+12.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.47%	3.52%	+12.95%

TXUE vs. TMB - Expense Ratio Comparison

TXUE has a 0.65% expense ratio, which is higher than TMB's 0.55% expense ratio.

Dividends

TXUE vs. TMB - Dividend Comparison

TXUE's dividend yield for the trailing twelve months is around 0.99%, more than TMB's 0.36% yield.

Position	TTM	2025
TMB Thornburg Multi Sector Bond ETF	0.36%	0.00%
TXUE Thornburg International Equity ETF	0.99%	1.08%

Frequently Asked Questions

Can I hold both TXUE and TMB in my portfolio?

TXUE and TMB have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TXUE or TMB?

On fees, TMB is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TXUE or TMB?

TMB is cheaper with a 0.55% expense ratio, compared with 0.65% for TXUE.

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

TXUE has the higher dividend yield at 0.99%, compared with 0.36% for TMB.

What is the main difference between TXUE and TMB?

TXUE is categorized as Foreign Large Cap Equities, while TMB is Multisector Bonds. Their fees differ too: 0.65% for TXUE and 0.55% for TMB.