THDRX Fees and Costs — Thornburg Developing World Fund, Class R5
Data updated: 2026-08-24
The net expense ratio is 1.04%: a 0.97% management fee plus 1.11% other expenses, less a 1.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.2011% of average net assets, and portfolio turnover was 47%.
THDRX Fees and Expenses
Annual operating expenses and sales charges of THDRX. Prospectus, as of January 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.97% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.11% |
| Gross expense ratio | 2.08% |
| Fee waiver | −1.04% |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
THDRX Costs Over Time
On $10,000 invested in THDRX, assuming 5% a year before costs, total costs come to $773 over 5 years, cutting the return by 1.30% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.04%) | $109 | $340 | $588 |
| Trading costs (broker commissions) | $21 | $66 | $114 |
| Lost growth on money paid in costs | $0 | $20 | $71 |
| Total costs | $130 | $426 | $773 |
| Value after costs | $10,370 | $11,151 | $11,990 |
| Impact on return, per year | 1.30% | 1.30% | 1.30% |
THDRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2011%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $448.3M
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
THDRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $215K | 21.73% |
| J.P. Morgan Securities LLC | $192K | 19.41% |
| Goldman Sachs & Co. LLC | $120K | 12.14% |
| HSBC Securities (USA) Inc. | $87K | 8.77% |
| BofA Securities, Inc. | $86K | 8.70% |
| Jefferies LLC | $71K | 7.20% |
| CLSA Americas, LLC | $70K | 7.07% |
| Citigroup Global Markets Inc. | $68K | 6.90% |
| Kotak Securities Limited | $43K | 4.31% |
| UBS Securities LLC | $38K | 3.79% |
THDRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $446.9M | 99.70% |
| Kotak Securities Limited | $1.4M | 0.30% |
Thornburg Developing World Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TDWRX | Class R6 | 0.94% | none |
| THDIX | Class I | 1.04% | none |
| THDRX | Class R5 | 1.04% | none |
| THDAX | Class A | 1.45% | 4.50% |
| THDCX | Class C | 2.33% | none |
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.