TBWAX Performance — Thornburg Better World International Fund, Class A
Data updated: 2026-08-24
TBWAX returned +2.64% year to date and +9.94% over one year to Jun 2026. Annualised returns are +10.67% over 3 years and +3.79% over 5 years. The fund trailed its International Large Blend category average: $100 invested three years ago grew to $136, against $155 for the category, and to $110 over one year, against $119. Volatility over the past three years was 11.77% a year. In the 12 months to Jun 2026 the fund lost a net $95.9M, and assets reached $463.40M.
TBWAX Growth of $100
What $100 invested in Thornburg Better World International Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the International Large Blend category average over the same months.
| Period | TBWAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $110 | $119 |
| 3 years (Jul 2023 – Jun 2026) | $136 | $155 |
| 5 years (Jul 2021 – Jun 2026) | $120 | $146 |
| Since data start (Jul 2019 – Jun 2026) | $202 | $189 |
TBWAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.64% |
| 1 year | +9.94% |
| 3 years (annualised) | +10.67% |
| 5 years (annualised) | +3.79% |
TBWAX Annual Returns
Calendar-year total returns of Thornburg Better World International Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +2.64% |
| 2025 | +23.54% |
| 2024 | +6.52% |
| 2023 | +12.13% |
| 2022 | −18.49% |
| 2021 | +20.37% |
| 2020 | +25.83% |
| 2019 (Jul–Dec) | +8.09% |
TBWAX 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 | +2.7% | +4.2% | −9.9% | +6.1% | +1.2% | −0.8% | — | — | — | — | — | — |
| 2025 | +4.6% | −0.2% | −0.3% | +4.5% | +4.5% | +1.5% | −0.6% | +1.4% | +2.0% | +0.9% | +2.0% | +1.2% |
| 2024 | −0.9% | +3.6% | +1.9% | −2.4% | +4.3% | −0.2% | +3.7% | +2.9% | +0.6% | −4.0% | −0.3% | −2.6% |
| 2023 | +9.1% | −4.6% | +3.3% | +1.8% | −1.9% | +4.0% | +2.8% | −3.7% | −4.5% | −3.5% | +6.2% | +3.6% |
| 2022 | −2.8% | −4.6% | −0.7% | −8.3% | 0.0% | −6.3% | +4.4% | −4.7% | −8.7% | +2.1% | +12.6% | −1.4% |
| 2021 | −0.6% | +6.9% | +2.6% | +3.5% | +1.9% | +7.3% | −1.9% | +3.3% | −4.0% | +2.9% | −3.9% | +1.4% |
| 2020 | −2.1% | −6.1% | −12.5% | +8.9% | +6.5% | +5.9% | +6.3% | +6.3% | −1.2% | −2.0% | +11.2% | +4.7% |
| 2019 | — | — | — | — | — | — | −2.0% | −2.3% | +1.5% | +4.1% | +2.7% | +4.0% |
TBWAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 11.77%
- 3-year Sharpe ratio: 0.52 (vs 4.5% risk-free rate)
- Best month: +6.18% (Nov 2023)
- Worst month: −9.93% (Mar 2026)
TBWAX Fund Flows
Monthly money in and out of Thornburg Better World International Fund, from SEC Form N-PORT.
- 12-month net flow: −$95.9M
- 12-month gross sales (incl. reinvestments): $70.3M
- Sales ÷ redemptions: 0.42×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $3.5M | $8.9M | −$5.4M |
| May 2026 | $4.1M | $9.5M | −$5.4M |
| Apr 2026 | $4.0M | $30.0M | −$26.1M |
| Mar 2026 | $5.3M | $11.9M | −$6.6M |
| Feb 2026 | $6.6M | $12.9M | −$6.3M |
| Jan 2026 | $13.5M | $9.3M | $4.1M |
| Dec 2025 | $12.6M | $12.9M | −$234K |
| Nov 2025 | $4.7M | $25.0M | −$20.3M |
| Oct 2025 | $3.7M | $10.9M | −$7.2M |
| Sep 2025 | $3.6M | $7.0M | −$3.4M |
| Aug 2025 | $3.6M | $9.4M | −$5.8M |
| Jul 2025 | $5.0M | $18.5M | −$13.5M |
TBWAX Assets Under Management
Net assets of Thornburg Better World International Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $463.40M |
| 2026-03-31 | $469.29M |
| 2025-12-31 | $495.42M |
| 2025-09-30 | $509.09M |
| 2025-06-30 | $517.23M |
| 2025-03-31 | $472.56M |
| 2024-12-31 | $486.10M |
| 2024-09-30 | $572.76M |
| 2024-06-30 | $556.23M |
| 2024-03-31 | $587.64M |
| 2023-12-31 | $583.70M |
| 2023-09-30 | $556.99M |
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.