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Morningstar

Thornburg Short Duration Municipal A TLMAX

Morningstar Medalist Rating
Medalist Rating as of | See Thornburg Investment Hub
  • NAV / 1-Day Return 11.87  /  +0.01 %
  • Total Assets 123.2 Mil
  • Adj. Expense Ratio
    0.700%
  • Expense Ratio 0.700%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category Muni National Short
  • Credit Quality / Interest Rate Sensitivity Medium/Limited
  • Min. Initial Investment 5,000
  • Status Open
  • TTM Yield 2.85%
  • Effective Duration 1.53 years

USD | NAV as of Apr 22, 2024 | 1-Day Return as of Apr 22, 2024, 10:18 PM GMT+0

Morningstar’s Analysis TLMAX

Will TLMAX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TLMAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the TLMAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of TLMAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in Thornburg Short Duration Municipal A's People and Process Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-costliest quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings TLMAX

More TLMAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 18.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

PEFA INC IOWA GAS PROJ REV 5%

3.02 3.7 Mil
municipal

MASSACHUSETTS ST DEV FIN AGY REV 3.84%

2.05 2.5 Mil
municipal

HARRIS CNTY TEX CULTURAL ED FACS FIN CORP REV 5%

1.74 2.1 Mil
municipal

ALLEN CNTY OHIO HOSP FACS REV 5%

1.73 2.1 Mil
municipal

TRAVIS CNTY TEX HSG FIN CORP MULTIFAMILY HSG REV 4.125%

1.66 2.0 Mil
municipal

KNOXVILLE CNTY TENN HEALTH EDL & HSG FAC BRD MULTIFAMILY HSG REV 3.95%

1.66 2.0 Mil
municipal

ILLINOIS HSG DEV AUTH MULTIFAMILY HSG REV 4%

1.65 2.0 Mil
municipal

ILLINOIS HSG DEV AUTH REV 3.5%

1.65 2.0 Mil
municipal

E 470 PUB HWY AUTH COLO REV 3.908%

1.64 2.0 Mil
municipal

PUBLIC FIN AUTH WIS POLLUTION CTL REV 3.3%

1.63 2.0 Mil
municipal