LTCQX Performance — Thornburg California Limited Term Municipal Fund, Class C2
Data updated: 2026-08-24
LTCQX returned +0.74% year to date and +3.87% over one year to Jun 2026. Annualised returns are +2.99% over 3 years and +0.94% over 5 years. Against its Short-Term Municipal Bond category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $109, against $111 for the category, and to $104 over one year, against $104. Volatility over the past three years was 3.09% a year. In the 12 months to Jun 2026 the fund took in a net $40.3M, and assets reached $308.80M.
LTCQX Growth of $100
What $100 invested in Thornburg California Limited Term Municipal Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | LTCQX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $104 | $104 |
| 3 years (Jul 2023 – Jun 2026) | $109 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $105 | $108 |
| Since data start (Sep 2020 – Jun 2026) | $105 | $110 |
LTCQX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.74% |
| 1 year | +3.87% |
| 3 years (annualised) | +2.99% |
| 5 years (annualised) | +0.94% |
LTCQX Annual Returns
Calendar-year total returns of Thornburg California Limited Term Municipal Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +0.74% |
| 2025 | +4.35% |
| 2024 | +1.05% |
| 2023 | +3.96% |
| 2022 | −4.79% |
| 2021 | −0.68% |
| 2020 (Sep–Dec) | +0.34% |
LTCQX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.7% | +0.8% | −1.8% | +0.4% | +0.2% | +0.4% | — | — | — | — | — | — |
| 2025 | +0.5% | +1.0% | −0.8% | −0.9% | +0.7% | +0.7% | +0.5% | +0.9% | +1.2% | +0.1% | +0.2% | +0.1% |
| 2024 | −0.3% | +0.1% | +0.1% | −0.7% | −0.4% | +0.9% | +0.7% | +1.1% | +0.6% | −1.1% | +0.9% | −0.9% |
| 2023 | +1.4% | −1.3% | +1.3% | −0.2% | −0.6% | +0.5% | +0.3% | −0.4% | −1.2% | −0.2% | +3.0% | +1.4% |
| 2022 | −1.8% | −0.4% | −1.9% | −1.5% | +1.0% | −0.4% | +1.4% | −1.1% | −2.1% | −0.1% | +1.9% | +0.1% |
| 2021 | +0.1% | −0.8% | +0.2% | +0.2% | 0.0% | −0.1% | +0.3% | 0.0% | −0.4% | −0.2% | +0.1% | −0.1% |
| 2020 | — | — | — | — | — | — | — | — | 0.0% | −0.2% | +0.4% | +0.1% |
LTCQX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 3.09%
- 3-year Sharpe ratio: -0.49 (vs 4.5% risk-free rate)
- Best month: +3.01% (Nov 2023)
- Worst month: −1.85% (Mar 2026)
LTCQX Fund Flows
Monthly money in and out of Thornburg California Limited Term Municipal Fund, from SEC Form N-PORT.
- 12-month net flow: $40.3M
- 12-month gross sales (incl. reinvestments): $128.8M
- Sales ÷ redemptions: 1.46×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $17.6M | $15.1M | $2.5M |
| May 2026 | $19.0M | $5.4M | $13.6M |
| Apr 2026 | $4.0M | $6.5M | −$2.5M |
| Mar 2026 | $8.2M | $5.9M | $2.3M |
| Feb 2026 | $9.2M | $11.6M | −$2.3M |
| Jan 2026 | $9.4M | $4.3M | $5.1M |
| Dec 2025 | $13.6M | $9.0M | $4.6M |
| Nov 2025 | $7.1M | $6.1M | $1.0M |
| Oct 2025 | $8.5M | $9.4M | −$890K |
| Sep 2025 | $5.2M | $7.3M | −$2.1M |
| Aug 2025 | $14.3M | $4.5M | $9.8M |
| Jul 2025 | $12.6M | $3.5M | $9.1M |
LTCQX Assets Under Management
Net assets of Thornburg California Limited Term Municipal Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $308.80M |
| 2026-03-31 | $293.65M |
| 2025-12-31 | $291.56M |
| 2025-09-30 | $287.06M |
| 2025-06-30 | $265.25M |
| 2025-03-31 | $257.58M |
| 2024-12-31 | $257.39M |
| 2024-09-30 | $273.13M |
| 2024-06-30 | $270.65M |
| 2024-03-31 | $272.47M |
| 2023-12-31 | $280.74M |
| 2023-09-30 | $275.39M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.