LTMFX Performance — Thornburg Limited Term Municipal Fund, Class A
Data updated: 2026-08-24
LTMFX returned +1.16% year to date and +3.95% over one year to Jun 2026. Annualised returns are +3.37% over 3 years and +1.14% 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 $110, against $111 for the category, and to $104 over one year, against $104. Volatility over the past three years was 3.02% a year. In the 12 months to Jun 2026 the fund lost a net $63.5M, and assets reached $2.12B.
LTMFX Growth of $100
What $100 invested in Thornburg 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 | LTMFX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $104 | $104 |
| 3 years (Jul 2023 – Jun 2026) | $110 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $106 | $108 |
| Since data start (Jul 2019 – Jun 2026) | $110 | $113 |
LTMFX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.16% |
| 1 year | +3.95% |
| 3 years (annualised) | +3.37% |
| 5 years (annualised) | +1.14% |
LTMFX Annual Returns
Calendar-year total returns of Thornburg Limited Term Municipal Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.16% |
| 2025 | +4.60% |
| 2024 | +1.30% |
| 2023 | +4.29% |
| 2022 | −5.11% |
| 2021 | −0.21% |
| 2020 | +2.96% |
| 2019 (Jul–Dec) | +1.08% |
LTMFX 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 | +0.9% | +0.8% | −1.6% | +0.4% | +0.3% | +0.4% | — | — | — | — | — | — |
| 2025 | +0.7% | +0.7% | −0.5% | −0.5% | +0.7% | +0.7% | +0.5% | +0.8% | +0.8% | +0.3% | +0.2% | +0.2% |
| 2024 | −0.3% | +0.2% | −0.1% | −0.6% | −0.3% | +0.9% | +0.9% | +1.0% | +0.5% | −1.0% | +0.8% | −0.7% |
| 2023 | +1.6% | −1.3% | +1.3% | −0.2% | −0.7% | +0.6% | +0.3% | −0.4% | −1.3% | −0.2% | +3.4% | +1.4% |
| 2022 | −2.0% | −0.2% | −2.2% | −1.5% | +1.0% | −0.5% | +1.4% | −1.3% | −2.1% | −0.2% | +2.2% | +0.2% |
| 2021 | +0.2% | −0.8% | +0.2% | +0.3% | 0.0% | 0.0% | +0.4% | −0.2% | −0.4% | −0.3% | +0.2% | 0.0% |
| 2020 | +0.9% | +0.5% | −1.7% | −0.4% | +2.0% | +0.4% | +0.7% | −0.1% | +0.1% | −0.2% | +0.5% | +0.2% |
| 2019 | — | — | — | — | — | — | +0.6% | +0.4% | −0.5% | +0.2% | +0.1% | +0.2% |
LTMFX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 3.02%
- 3-year Sharpe ratio: -0.38 (vs 4.5% risk-free rate)
- Best month: +3.37% (Nov 2023)
- Worst month: −1.55% (Mar 2026)
LTMFX Fund Flows
Monthly money in and out of Thornburg Limited Term Municipal Fund, from SEC Form N-PORT.
- 12-month net flow: −$63.5M
- 12-month gross sales (incl. reinvestments): $468.6M
- Sales ÷ redemptions: 0.88×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $36.0M | $42.1M | −$6.1M |
| May 2026 | $32.1M | $38.1M | −$6.0M |
| Apr 2026 | $35.1M | $37.8M | −$2.7M |
| Mar 2026 | $30.3M | $32.0M | −$1.8M |
| Feb 2026 | $40.1M | $33.5M | $6.7M |
| Jan 2026 | $63.5M | $40.4M | $23.1M |
| Dec 2025 | $43.4M | $67.2M | −$23.8M |
| Nov 2025 | $29.3M | $38.5M | −$9.2M |
| Oct 2025 | $47.5M | $45.6M | $1.9M |
| Sep 2025 | $28.6M | $66.6M | −$37.9M |
| Aug 2025 | $35.7M | $52.4M | −$16.7M |
| Jul 2025 | $47.0M | $37.9M | $9.1M |
LTMFX Assets Under Management
Net assets of Thornburg Limited Term Municipal Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $2.12B |
| 2026-03-31 | $2.13B |
| 2025-12-31 | $2.12B |
| 2025-09-30 | $2.15B |
| 2025-06-30 | $2.17B |
| 2025-03-31 | $2.27B |
| 2024-12-31 | $2.29B |
| 2024-09-30 | $2.48B |
| 2024-06-30 | $2.52B |
| 2024-03-31 | $2.61B |
| 2023-12-31 | $2.68B |
| 2023-09-30 | $2.98B |
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.