TLMIX Performance — Thornburg Short Duration Municipal Fund, Class I
Data updated: 2026-08-24
TLMIX returned +1.35% year to date and +3.25% over one year to Jun 2026. Annualised returns are +3.40% over 3 years and +1.80% over 5 years. The fund trailed its Short-Term Municipal Bond category average: $100 invested three years ago grew to $111, against $111 for the category, and to $103 over one year, against $104. Volatility over the past three years was 1.36% a year. In the 12 months to Jun 2026 the fund lost a net $24.8M, and assets reached $90.63M.
TLMIX Growth of $100
What $100 invested in Thornburg Short Duration Municipal Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | TLMIX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $103 | $104 |
| 3 years (Jul 2023 – Jun 2026) | $111 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $109 | $108 |
| Since data start (Jul 2019 – Jun 2026) | $111 | $113 |
TLMIX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.35% |
| 1 year | +3.25% |
| 3 years (annualised) | +3.40% |
| 5 years (annualised) | +1.80% |
TLMIX Annual Returns
Calendar-year total returns of Thornburg Short Duration Municipal Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.35% |
| 2025 | +3.73% |
| 2024 | +2.74% |
| 2023 | +3.76% |
| 2022 | −2.32% |
| 2021 | −0.05% |
| 2020 | +1.00% |
| 2019 (Jul–Dec) | +0.76% |
TLMIX 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 | +0.5% | +0.6% | −0.7% | +0.3% | +0.3% | +0.4% | — | — | — | — | — | — |
| 2025 | +0.5% | +0.4% | 0.0% | −0.1% | +0.4% | +0.5% | +0.5% | +0.5% | +0.3% | 0.0% | +0.2% | +0.4% |
| 2024 | 0.0% | +0.1% | +0.1% | −0.1% | +0.3% | +0.5% | +0.7% | +0.6% | +0.4% | −0.2% | +0.4% | −0.1% |
| 2023 | +0.9% | −0.7% | +1.1% | −0.1% | −0.3% | +0.6% | +0.2% | +0.1% | −0.6% | +0.3% | +1.6% | +0.7% |
| 2022 | −1.2% | −0.2% | −1.0% | −0.6% | +0.6% | −0.1% | +0.7% | −0.9% | −1.0% | +0.1% | +1.3% | 0.0% |
| 2021 | +0.1% | −0.2% | +0.1% | +0.1% | 0.0% | −0.1% | +0.2% | −0.1% | −0.1% | −0.1% | 0.0% | 0.0% |
| 2020 | +0.4% | +0.2% | −1.0% | −0.4% | +1.1% | +0.2% | +0.2% | +0.1% | +0.1% | 0.0% | +0.1% | +0.1% |
| 2019 | — | — | — | — | — | — | +0.3% | +0.2% | −0.1% | +0.2% | +0.1% | +0.1% |
TLMIX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 1.36%
- 3-year Sharpe ratio: -0.81 (vs 4.5% risk-free rate)
- Best month: +1.63% (Nov 2023)
- Worst month: −0.65% (Mar 2026)
TLMIX Fund Flows
Monthly money in and out of Thornburg Short Duration Municipal Fund, from SEC Form N-PORT.
- 12-month net flow: −$24.8M
- 12-month gross sales (incl. reinvestments): $18.2M
- Sales ÷ redemptions: 0.42×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $350K | $43K | $308K |
| May 2026 | $395K | $1.7M | −$1.3M |
| Apr 2026 | $195K | $2.7M | −$2.5M |
| Mar 2026 | $413K | $4.7M | −$4.3M |
| Feb 2026 | $382K | $12.7M | −$12.3M |
| Jan 2026 | $809K | $574K | $235K |
| Dec 2025 | $2.3M | $2.9M | −$619K |
| Nov 2025 | $2.4M | $771K | $1.7M |
| Oct 2025 | $281K | $4.7M | −$4.4M |
| Sep 2025 | $321K | $7.8M | −$7.5M |
| Aug 2025 | $7.0M | $4.0M | $2.9M |
| Jul 2025 | $3.4M | $346K | $3.0M |
TLMIX Assets Under Management
Net assets of Thornburg Short Duration Municipal Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $90.63M |
| 2026-03-31 | $94.05M |
| 2025-12-31 | $110.57M |
| 2025-09-30 | $114.22M |
| 2025-06-30 | $115.26M |
| 2025-03-31 | $115.45M |
| 2024-12-31 | $117.33M |
| 2024-09-30 | $117.70M |
| 2024-06-30 | $116.83M |
| 2024-03-31 | $123.08M |
| 2023-12-31 | $129.99M |
| 2023-09-30 | $144.11M |
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.