THNDX Fees and Costs — Thornburg New Mexico Intermediate Municipal Fund, Class D
Data updated: 2026-08-24
The net expense ratio is 1.17%: a 0.50% management fee, a 0.50% 12b-1 fee plus 0.44% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 25%.
THNDX Fees and Expenses
Annual operating expenses and sales charges of THNDX. Prospectus, as of January 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.44% |
| Gross expense ratio | 1.44% |
| Fee waiver | −0.27% |
| Net expense ratio | 1.17% |
| 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 |
THNDX Costs Over Time
On $10,000 invested in THNDX, assuming 5% a year before costs, total costs come to $729 over 5 years, cutting the return by 1.23% 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 1.17%) | $123 | $383 | $662 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $123 | $402 | $729 |
| Value after costs | $10,377 | $11,175 | $12,033 |
| Impact on return, per year | 1.23% | 1.23% | 1.23% |
THNDX 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): $204.1M
- Portfolio turnover (prospectus): 25%
- Securities lending: none during the year
THNDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $63.6M | 33.99% |
| State Street Bank and Trust Company | $47.7M | 25.48% |
| BMO Capital Markets Corp. | $23.2M | 12.41% |
| RBC Capital Markets, LLC | $14.5M | 7.76% |
| Nomura Securities International, Inc. | $11.2M | 5.99% |
| Barclays Capital Inc. | $9.4M | 5.02% |
| Deutsche Bank Securities Inc. | $5.7M | 3.02% |
| Goldman Sachs & Co. LLC | $4.4M | 2.35% |
| Stifel, Nicolaus & Company, Incorporated | $3.9M | 2.06% |
| BNY Capital Markets, LLC | $3.6M | 1.90% |
Thornburg New Mexico 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 |
|---|---|---|---|
| THNIX | Class I | 0.67% | none |
| THNMX | Class A | 0.92% | 2.00% |
| THNDX | Class D | 1.17% | 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.