THMMX Performance — Thornburg Municipal Managed Account Fund, Class SMA
Data updated: 2026-08-24
THMMX returned +3.02% year to date and +7.49% over one year to Jun 2026. The annualised 3-year return is +5.78%. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $118, against $111 for the category, and to $107 over one year, against $106. Volatility over the past three years was 4.84% a year. In the 12 months to Jun 2026 the fund took in a net $546K, and assets reached $12.50M.
THMMX Growth of $100
What $100 invested in Thornburg Municipal Managed Account Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | THMMX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $107 | $106 |
| 3 years (Jul 2023 – Jun 2026) | $118 | $111 |
| Since data start (May 2023 – Jun 2026) | $119 | $111 |
THMMX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +3.02% |
| 1 year | +7.49% |
| 3 years (annualised) | +5.78% |
THMMX Annual Returns
Calendar-year total returns of Thornburg Municipal Managed Account Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +3.02% |
| 2025 | +4.96% |
| 2024 | +5.01% |
| 2023 (May–Dec) | +4.60% |
THMMX 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 | +0.7% | +1.4% | −1.9% | +1.3% | +0.6% | +1.0% | — | — | — | — | — | — |
| 2025 | +0.8% | +0.9% | −1.2% | −0.7% | +0.2% | +0.6% | −0.5% | +0.9% | +2.3% | +1.3% | +0.3% | 0.0% |
| 2024 | +0.1% | +0.7% | +0.9% | −0.8% | +0.5% | +1.4% | +1.3% | +0.9% | +1.2% | −1.2% | +1.4% | −1.4% |
| 2023 | — | — | — | — | −0.1% | +0.4% | +0.8% | −0.7% | −2.1% | −1.3% | +5.5% | +2.2% |
THMMX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 4.84%
- 3-year Sharpe ratio: 0.26 (vs 4.5% risk-free rate)
- Best month: +5.54% (Nov 2023)
- Worst month: −2.14% (Sep 2023)
THMMX Fund Flows
Monthly money in and out of Thornburg Municipal Managed Account Fund, from SEC Form N-PORT.
- 12-month net flow: $546K
- 12-month gross sales (incl. reinvestments): $690K
- Sales ÷ redemptions: 4.78×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $50K | $0 | $50K |
| May 2026 | $50K | $0 | $50K |
| Apr 2026 | $50K | $132K | −$83K |
| Mar 2026 | $49K | $0 | $49K |
| Feb 2026 | $49K | $0 | $49K |
| Jan 2026 | $49K | $0 | $49K |
| Dec 2025 | $61K | $0 | $61K |
| Nov 2025 | $61K | $2K | $58K |
| Oct 2025 | $135K | $2K | $133K |
| Sep 2025 | $46K | $2K | $44K |
| Aug 2025 | $46K | $2K | $43K |
| Jul 2025 | $45K | $2K | $43K |
THMMX Assets Under Management
Net assets of Thornburg Municipal Managed Account Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $12.50M |
| 2026-03-31 | $12.27M |
| 2025-12-31 | $12.26M |
| 2025-09-30 | $11.97M |
| 2025-06-30 | $11.65M |
| 2025-03-31 | $11.65M |
| 2024-12-31 | $11.29M |
| 2024-09-30 | $11.21M |
| 2024-06-30 | $10.28M |
| 2024-03-31 | $9.82M |
| 2023-12-31 | $5.61M |
| 2023-09-30 | $5.27M |
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.