THMIX Fees and Costs — Thornburg Intermediate Municipal Fund, Class I
Data updated: 2026-08-24
The net expense ratio is 0.48%: a 0.47% management fee plus 0.19% other expenses, less a 0.18% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 53%.
THMIX Fees and Expenses
Annual operating expenses and sales charges of THMIX. Prospectus, as of January 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.19% |
| Gross expense ratio | 0.66% |
| Fee waiver | −0.18% |
| Net expense ratio | 0.48% |
| 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 |
THMIX Costs Over Time
On $10,000 invested in THMIX, assuming 5% a year before costs, total costs come to $303 over 5 years, cutting the return by 0.50% 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 0.48%) | $50 | $158 | $276 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $50 | $166 | $303 |
| Value after costs | $10,450 | $11,410 | $12,459 |
| Impact on return, per year | 0.50% | 0.50% | 0.50% |
THMIX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $5.7B
- Portfolio turnover (prospectus): 53%
- Securities lending: none during the year
THMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.7B | 32.22% |
| Barclays Capital Inc. | $873.2M | 16.94% |
| State Street Bank and Trust Company | $824.9M | 16.00% |
| BMO Capital Markets Corp. | $564.6M | 10.95% |
| Wells Fargo Securities, LLC | $296.2M | 5.75% |
| RBC Capital Markets, LLC | $248.3M | 4.82% |
| Morgan Stanley & Co. LLC | $223.9M | 4.34% |
| Nomura Securities International, Inc. | $196.4M | 3.81% |
| Stifel, Nicolaus & Company, Incorporated | $148.2M | 2.87% |
| BNY Capital Markets, LLC | $118.9M | 2.31% |
Thornburg Intermediate Municipal Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| THMIX | Class I | 0.48% | none |
| THIMX | Class A | 0.73% | 2.00% |
| THMCX | Class C | 1.08% | none |
| THMQX | Class C2 | 1.13% | 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.