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Morningstar

Thornburg Strategic Municipal Income A TSSAX

Morningstar Medalist Rating
Medalist Rating as of | See Thornburg Investment Hub
  • NAV / 1-Day Return 13.84  /  0.01 %
  • Total Assets 306.4 Mil
  • Adj. Expense Ratio
    0.810%
  • Expense Ratio 0.810%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category Muni National Interm
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 5,000
  • Status Open
  • TTM Yield 2.90%
  • Effective Duration 5.45 years

USD | NAV as of Jun 06, 2023 | 1-Day Return as of Jun 06, 2023, 10:24 PM GMT+0

Morningstar’s Analysis TSSAX

Will TSSAX 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 TSSAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the TSSAX 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 TSSAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Weakness in Thornburg Strategic Municipal Income A's Process and People 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 TSSAX

More TSSAX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 264
  • Other Holdings 2
  • % Assets in Top 10 Holdings 13.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

MEADE CNTY KY INDL BLDG REV 4.81%

2.20
6,700,000
municipal

KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4%

1.80
5,465,669
municipal

PEFA INC IOWA GAS PROJ REV 5%

1.57
4,771,137
municipal

KENTUCKY INC KY PUB ENERGY AUTH GAS SUPLLY REV 4%

1.31
3,997,992
municipal

CHICAGO ILL 6%

1.17
3,549,427
municipal

ILLINOIS ST 5%

1.06
3,220,902
municipal

PORT PORT ARTHUR TEX NAV DIST ENVIRONMENTAL FACS REV 4.4%

1.05
3,200,000
municipal

NEW JERSEY ST TRANSN TR FD AUTH 5%

1.04
3,158,910
municipal

TEXAS TRANSN COMMN CENT TEX TPK SYS REV 5%

1.01
3,059,568
municipal

LOUISIANA PUB FACS AUTH REV 5%

1.00
3,041,595
municipal