TXUE vs. TPLS

Last updated Jun 4, 2026

TXUE (Thornburg International Equity ETF) and TPLS (Thornburg Core Plus Bond ETF) are both exchange-traded funds - TXUE is a Foreign Large Cap Equities fund actively managed by Thornburg, while TPLS is a Intermediate Core-Plus Bond fund actively managed by Thornburg. Both are actively managed. Over the past year, TXUE returned 20.72% vs 5.39% for TPLS. At a 0.28 correlation, their price movements are largely independent. TXUE charges 0.65%/yr vs 0.45%/yr for TPLS.

Performance

TXUE vs. TPLS - Performance Comparison

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

Returns By Period

In the year-to-date period, TXUE achieves a 10.35% return, which is significantly higher than TPLS's 0.32% return.

TXUE

• 1D: -0.59%
• 1M: 3.75%
• YTD: 10.35%
• 6M: 12.29%
• 1Y: 20.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TPLS

• 1D: -0.12%
• 1M: 0.56%
• YTD: 0.32%
• 6M: 0.29%
• 1Y: 5.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TXUE vs. TPLS - Yearly Performance Comparison

	2026 (YTD)	2025
TXUE Thornburg International Equity ETF	10.35%	24.90%
TPLS Thornburg Core Plus Bond ETF	0.32%	5.59%

Correlation

The correlation between TXUE and TPLS is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.28

Return for Risk

TXUE vs. TPLS — 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: 43
TXUE Omega Ratio Rank: 43
TXUE Calmar Ratio Rank: 39
TXUE Martin Ratio Rank: 44

TPLS

TPLS Risk / Return Rank: 38
TPLS Sharpe Ratio Rank: 40
TPLS Sortino Ratio Rank: 41
TPLS Omega Ratio Rank: 38
TPLS Calmar Ratio Rank: 37
TPLS Martin Ratio Rank: 34

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. TPLS - Risk-Adjusted Trends Comparison

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

	TXUE	TPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.38	+0.12
Sortino ratio: Return per unit of downside risk	2.11	2.03	+0.08
Omega ratio: Gain probability vs. loss probability	1.27	1.24	+0.02
Calmar ratio: Return relative to maximum drawdown	1.87	1.78	+0.09
Martin ratio: Return relative to average drawdown	6.94	5.10	+1.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TXUE vs. TPLS - Sharpe Ratio Comparison

The current TXUE Sharpe Ratio is 1.50, which is comparable to the TPLS Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of TXUE and TPLS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TXUE	TPLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.38	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	1.65	0.99	+0.67

Drawdowns

TXUE vs. TPLS - Drawdown Comparison

The maximum TXUE drawdown since its inception was -12.97%, which is greater than TPLS's maximum drawdown of -3.04%. Use the drawdown chart below to compare losses from any high point for TXUE and TPLS.

Drawdown Indicators

	TXUE	TPLS	Difference
Max Drawdown Largest peak-to-trough decline	-12.97%	-3.04%	-9.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.14%	-3.04%	-8.10%
Current Drawdown Current decline from peak	-1.17%	-1.68%	+0.51%
Average Drawdown Average peak-to-trough decline	-1.84%	-0.90%	-0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	1.06%	+1.93%

Volatility

TXUE vs. TPLS - Volatility Comparison

Thornburg International Equity ETF (TXUE) has a higher volatility of 4.51% compared to Thornburg Core Plus Bond ETF (TPLS) at 1.25%. This indicates that TXUE's price experiences larger fluctuations and is considered to be riskier than TPLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXUE	TPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	1.25%	+3.26%
Volatility (6M) Calculated over the trailing 6-month period	11.48%	2.75%	+8.73%
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	3.93%	+9.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	4.54%	+11.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	4.54%	+11.99%

TXUE vs. TPLS - Expense Ratio Comparison

TXUE has a 0.65% expense ratio, which is higher than TPLS's 0.45% expense ratio.

Dividends

TXUE vs. TPLS - Dividend Comparison

TXUE's dividend yield for the trailing twelve months is around 0.98%, less than TPLS's 4.61% yield.

Position	TTM	2025
TPLS Thornburg Core Plus Bond ETF	4.61%	4.28%
TXUE Thornburg International Equity ETF	0.98%	1.08%

Frequently Asked Questions

Can I hold both TXUE and TPLS in my portfolio?

TXUE and TPLS have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TXUE or TPLS?

TXUE has higher volatility (4.51%) compared to TPLS (1.25%). In terms of maximum drawdown, TXUE dropped -12.97% vs TPLS's -3.04%.

Which ETF is better, TXUE or TPLS?

On 1-year performance, TXUE leads with 20.72% vs 5.39% for TPLS. On fees, TPLS is cheaper at 0.45% per year. On volatility, TPLS has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TXUE or TPLS?

Over the 1-year period, TXUE has performed better with a 20.72% return vs 5.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TXUE or TPLS?

TPLS is cheaper with a 0.45% expense ratio, compared with 0.65% for TXUE.

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

TPLS has the higher dividend yield at 4.61%, compared with 0.98% for TXUE.

What is the main difference between TXUE and TPLS?

TXUE is categorized as Foreign Large Cap Equities, while TPLS is Intermediate Core-Plus Bond. Their fees differ too: 0.65% for TXUE and 0.45% for TPLS.

Which has better risk-adjusted returns?

TXUE currently has the higher Sharpe Ratio (1.50 vs 1.38), 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.