THDAX Performance — Thornburg Developing World Fund, Class A
Data updated: 2026-08-24
THDAX returned +25.27% year to date and +39.33% over one year to Jun 2026. Annualised returns are +19.24% over 3 years and +3.93% over 5 years. The fund beat its Global Multi-Cap Blend category average: $100 invested three years ago grew to $170, against $148 for the category, and to $139 over one year, against $118. Volatility over the past three years was 15.41% a year. In the 12 months to Jun 2026 the fund lost a net $73.1M, and assets reached $693.67M.
THDAX Growth of $100
What $100 invested in Thornburg Developing World Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Global Multi-Cap Blend category average over the same months.
| Period | THDAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $139 | $118 |
| 3 years (Jul 2023 – Jun 2026) | $170 | $148 |
| 5 years (Jul 2021 – Jun 2026) | $121 | $143 |
| Since data start (Jul 2019 – Jun 2026) | $171 | $188 |
THDAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +25.27% |
| 1 year | +39.33% |
| 3 years (annualised) | +19.24% |
| 5 years (annualised) | +3.93% |
THDAX Annual Returns
Calendar-year total returns of Thornburg Developing World Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +25.27% |
| 2025 | +27.29% |
| 2024 | +5.30% |
| 2023 | +6.13% |
| 2022 | −25.79% |
| 2021 | −2.99% |
| 2020 | +22.70% |
| 2019 (Jul–Dec) | +8.49% |
THDAX 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 | +7.9% | +3.8% | −8.8% | +11.1% | +9.7% | +0.6% | — | — | — | — | — | — |
| 2025 | −0.3% | −0.3% | +0.5% | +1.9% | +6.0% | +6.1% | +1.1% | +0.2% | +5.2% | +2.9% | −2.4% | +3.9% |
| 2024 | −4.2% | +5.9% | +2.3% | −1.0% | +1.6% | +3.6% | −2.5% | 0.0% | +5.1% | −2.1% | −3.3% | +0.3% |
| 2023 | +7.9% | −6.0% | +3.1% | −1.4% | −2.4% | +4.4% | +4.1% | −5.5% | −3.9% | −4.3% | +7.9% | +3.5% |
| 2022 | −3.5% | −4.6% | −2.8% | −8.4% | +2.5% | −7.9% | −0.6% | −0.1% | −11.3% | −4.9% | +15.9% | −1.2% |
| 2021 | +2.9% | +2.2% | −3.5% | +1.6% | +1.0% | +1.6% | −5.4% | +2.6% | −3.7% | +1.0% | −5.2% | +2.4% |
| 2020 | −3.6% | −5.5% | −17.5% | +9.8% | +2.4% | +8.2% | +8.5% | +3.2% | −1.6% | +3.5% | +9.4% | +7.4% |
| 2019 | — | — | — | — | — | — | −1.6% | −3.4% | +1.5% | +4.3% | +0.4% | +7.3% |
THDAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 15.41%
- 3-year Sharpe ratio: 0.96 (vs 4.5% risk-free rate)
- Best month: +11.06% (Apr 2026)
- Worst month: −8.76% (Mar 2026)
THDAX Fund Flows
Monthly money in and out of Thornburg Developing World Fund, from SEC Form N-PORT.
- 12-month net flow: −$73.1M
- 12-month gross sales (incl. reinvestments): $111.0M
- Sales ÷ redemptions: 0.60×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $5.9M | $13.2M | −$7.3M |
| May 2026 | $8.2M | $16.6M | −$8.4M |
| Apr 2026 | $5.4M | $14.3M | −$9.0M |
| Mar 2026 | $7.0M | $18.7M | −$11.6M |
| Feb 2026 | $6.0M | $12.9M | −$6.9M |
| Jan 2026 | $14.6M | $12.0M | $2.6M |
| Dec 2025 | $25.9M | $24.2M | $1.6M |
| Nov 2025 | $18.6M | $12.3M | $6.3M |
| Oct 2025 | $4.6M | $17.0M | −$12.4M |
| Sep 2025 | $2.8M | $9.7M | −$6.9M |
| Aug 2025 | $5.2M | $8.3M | −$3.1M |
| Jul 2025 | $6.7M | $24.8M | −$18.1M |
THDAX Assets Under Management
Net assets of Thornburg Developing World Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $693.67M |
| 2026-03-31 | $586.31M |
| 2025-12-31 | $587.99M |
| 2025-09-30 | $587.54M |
| 2025-06-30 | $577.97M |
| 2025-03-31 | $549.63M |
| 2024-12-31 | $604.50M |
| 2024-09-30 | $676.32M |
| 2024-06-30 | $924.11M |
| 2024-03-31 | $913.70M |
| 2023-12-31 | $945.93M |
| 2023-09-30 | $957.89M |
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.