TXUG vs. TMB

Last updated Jul 12, 2026

TXUG (Thornburg International Growth ETF) and TMB (Thornburg Multi Sector Bond ETF) are both exchange-traded funds - TXUG 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. At a 0.17 correlation, their price movements are largely independent. TXUG charges 0.70%/yr vs 0.55%/yr for TMB.

Performance

TXUG vs. TMB - Performance Comparison

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

Returns By Period

TXUG

• 1D: 0.36%
• 1M: 2.45%
• 6M: 7.35%
• YTD: 12.58%
• 1Y: 8.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMB

• 1D: 0.00%
• 1M: 0.05%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TXUG vs. TMB - Yearly Performance Comparison

	2026 (YTD)
TXUG Thornburg International Growth ETF	4.56%
TMB Thornburg Multi Sector Bond ETF	0.46%

Correlation

The correlation between TXUG and TMB is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.17

Return for Risk

TXUG vs. TMB — Risk / Return Rank

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

TXUG

TXUG Risk / Return Rank: 17
TXUG Sharpe Ratio Rank: 16
TXUG Sortino Ratio Rank: 16
TXUG Omega Ratio Rank: 16
TXUG Calmar Ratio Rank: 17
TXUG Martin Ratio Rank: 18

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.

TXUG vs. TMB - Risk-Adjusted Trends Comparison

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

	TXUG	TMB	Difference
Sharpe ratio: Return per unit of total volatility	0.40	—	—
Sortino ratio: Return per unit of downside risk	0.69	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.56	—	—
Martin ratio: Return relative to average drawdown	1.53	—	—

Drawdowns

TXUG vs. TMB - Drawdown Comparison

The maximum TXUG drawdown since its inception was -18.58%, which is greater than TMB's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for TXUG and TMB.

Drawdown Indicators

	TXUG	TMB	Difference
Max Drawdown Largest peak-to-trough decline	-18.58%	-0.60%	-17.98%
Max Drawdown (1Y) Largest decline over 1 year	-12.93%	—	—
Current Drawdown Current decline from peak	-1.12%	-0.47%	-0.65%
Average Drawdown Average peak-to-trough decline	-4.02%	-0.22%	-3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.68%	—	—

Volatility

Volatility by Period

	TXUG	TMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	3.46%	+14.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.92%	3.46%	+16.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.92%	3.46%	+16.46%

TXUG vs. TMB - Expense Ratio Comparison

TXUG has a 0.70% expense ratio, which is higher than TMB's 0.55% expense ratio.

Dividends

TXUG vs. TMB - Dividend Comparison

TXUG's dividend yield for the trailing twelve months is around 0.45%, less than TMB's 0.71% yield.

Position	TTM	2025
TMB Thornburg Multi Sector Bond ETF	0.71%	0.00%
TXUG Thornburg International Growth ETF	0.45%	0.51%

Frequently Asked Questions

Can I hold both TXUG and TMB in my portfolio?

TXUG and TMB have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TXUG 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, TXUG or TMB?

TMB is cheaper with a 0.55% expense ratio, compared with 0.70% for TXUG.

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

TMB has the higher dividend yield at 0.71%, compared with 0.45% for TXUG.

What is the main difference between TXUG and TMB?

TXUG is categorized as Foreign Large Cap Equities, while TMB is Multisector Bonds. Their fees differ too: 0.70% for TXUG and 0.55% for TMB.