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Trending ETFs

Name

As of 07/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$29.06

$2.56 B

1.72%

$0.49

1.01%

Vitals

YTD Return

16.2%

1 yr return

18.1%

3 Yr Avg Return

3.6%

5 Yr Avg Return

9.6%

Net Assets

$2.56 B

Holdings in Top 10

32.3%

52 WEEK LOW AND HIGH

$28.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.01%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 07/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$29.06

$2.56 B

1.72%

$0.49

1.01%

TGVIX - Profile

Distributions

  • YTD Total Return 16.2%
  • 3 Yr Annualized Total Return 3.6%
  • 5 Yr Annualized Total Return 9.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.32%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Thornburg International Equity Fund
  • Fund Family Name
    THORNBURG
  • Inception Date
    Aug 20, 2001
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Lei Wang

Fund Description

The Fund invests primarily in common stocks of non-U.S. companies and depositary receipts associated with such stocks. The Fund may invest in developing countries. Under normal conditions, the Fund will invest at least 80% of its net assets in common stocks or depositary receipts. As used herein, the term “net assets” includes the amount of any borrowings made by the Fund for investment purposes.

The Fund’s investment advisor, Thornburg Investment Management, Inc. (“Thornburg”), intends to invest on an opportunistic basis where the Fund’s portfolio managers believe intrinsic value is not recognized by the marketplace. The Fund seeks to identify value in a broad or different context by investing in a diversified portfolio of stocks the Fund categorizes as basic values, consistent earners, and emerging franchises, when the portfolio managers believe these issues are value priced. The relative proportions of securities invested in each of those categories will vary over time. The Fund seeks to invest in promising companies, and may invest in stocks that reflect unfavorable market perceptions of the company or industry fundamentals. The Fund may invest in companies of any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

The Fund’s investments are determined by individual issuer and industry analysis. Investment decisions are based on domestic and international economic developments, outlooks for securities markets, interest rates and inflation, the supply and demand for securities, and analysis of specific issuers.

Thornburg typically categorizes the Fund’s equity investments in one of the following three categories:

Basic Value: Companies generally operating in mature or cyclical industries and which generally exhibit more economic sensitivity and/or higher volatility in earnings and cash flow.

Consistent Earner: Companies which generally exhibit predictable growth, profitability, cash flow and/or dividends.

Emerging Franchise: Companies with the potential to grow at an above average rate because of a product or service that is establishing a new market and/or taking share from existing participants.

Inclusion of any investment in any of the three described categories represents Thornburg’s opinion concerning the characteristics and prospects of the investment. There is no assurance that any company selected for investment will, once categorized in one of the three described investment categories, continue to have the positive characteristics or fulfill the expectations that Thornburg had for the company when it was selected for investment, and any such company may not grow or may decline in earnings and size.

The Fund may sell an investment if Thornburg has identified a better investment opportunity, in response to changes in the conditions or business of the investment’s issuer or changes in overall market conditions, if Thornburg has a target price for the investment and that target price has been achieved, or if, in Thornburg’s opinion, the investment no longer serves to achieve the Fund’s investment goals.

The Fund’s policy of investing at least 80% of its net assets in common stocks or depositary receipts may be changed by the Fund’s Trustees without a shareholder vote upon 60 days’ notice to shareholders.

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TGVIX - Performance

Return Ranking - Trailing

Period TGVIX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.2% -1.3% 34.0% 2.26%
1 Yr 18.1% -5.4% 24.7% 4.53%
3 Yr 3.6%* -16.4% 47.1% 27.46%
5 Yr 9.6%* -34.2% 76.5% 9.00%
10 Yr 7.0%* 0.0% 16.6% 3.88%

* Annualized

Return Ranking - Calendar

Period TGVIX Return Category Return Low Category Return High Rank in Category (%)
2023 13.3% -7.3% 22.0% 50.68%
2022 -18.3% -43.6% 71.3% 52.68%
2021 -5.6% -28.5% 18.9% 88.11%
2020 18.7% -90.1% 992.1% 11.58%
2019 21.1% -1.9% 38.8% 31.80%

Total Return Ranking - Trailing

Period TGVIX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.2% -1.3% 34.0% 2.26%
1 Yr 18.1% -5.4% 24.7% 4.53%
3 Yr 3.6%* -16.4% 47.1% 27.46%
5 Yr 9.6%* -34.2% 76.5% 9.00%
10 Yr 7.0%* 0.0% 16.6% 3.88%

* Annualized

Total Return Ranking - Calendar

Period TGVIX Return Category Return Low Category Return High Rank in Category (%)
2023 16.0% 3.2% 41.4% 53.68%
2022 -16.7% -43.6% 144.8% 62.79%
2021 7.6% -22.6% 56.0% 75.27%
2020 22.6% -89.7% 1010.8% 7.23%
2019 29.2% 4.3% 38.8% 3.57%

NAV & Total Return History


TGVIX - Holdings

Concentration Analysis

TGVIX Category Low Category High TGVIX % Rank
Net Assets 2.56 B 3.3 M 425 B 26.76%
Number of Holdings 57 1 10721 77.58%
Net Assets in Top 10 854 M 153 K 46 B 25.71%
Weighting of Top 10 32.27% 3.0% 124.9% 25.56%

Top 10 Holdings

  1. Thornburg Capital Management Fund 4.65%
  2. TotalEnergies SE 4.08%
  3. NN Group NV 3.07%
  4. Hitachi Ltd 3.04%
  5. Safran SA 2.99%
  6. Canadian Pacific Kansas City Ltd 2.96%
  7. Schneider Electric SE 2.95%
  8. Linde PLC 2.92%
  9. Tencent Holdings Ltd 2.83%
  10. L'Oreal SA 2.78%

Asset Allocation

Weighting Return Low Return High TGVIX % Rank
Stocks
100.08% 0.00% 104.79% 2.24%
Other
0.00% -0.48% 42.73% 43.20%
Preferred Stocks
0.00% 0.00% 6.96% 92.53%
Convertible Bonds
0.00% 0.00% 4.18% 85.39%
Cash
0.00% 0.00% 28.70% 99.25%
Bonds
0.00% -0.92% 73.67% 85.95%

Stock Sector Breakdown

Weighting Return Low Return High TGVIX % Rank
Industrials
21.93% 5.17% 99.49% 4.46%
Technology
17.41% 0.00% 36.32% 6.46%
Financial Services
15.49% 0.00% 47.75% 78.31%
Utilities
8.96% 0.00% 13.68% 1.38%
Basic Materials
7.76% 0.00% 23.86% 58.31%
Consumer Cyclical
7.28% 0.00% 36.36% 86.31%
Consumer Defense
7.24% 0.00% 32.29% 86.00%
Healthcare
5.45% 0.00% 21.01% 96.31%
Energy
4.32% 0.00% 16.89% 64.46%
Communication Services
4.15% 0.00% 21.69% 81.69%
Real Estate
0.00% 0.00% 14.59% 96.31%

Stock Geographic Breakdown

Weighting Return Low Return High TGVIX % Rank
Non US
86.67% 0.00% 101.08% 65.02%
US
13.41% 0.00% 100.07% 20.33%

TGVIX - Expenses

Operational Fees

TGVIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.01% 0.01% 19.62% 51.05%
Management Fee 0.78% 0.00% 1.65% 75.79%
12b-1 Fee N/A 0.00% 1.00% 9.89%
Administrative Fee 0.10% 0.01% 1.00% 66.20%

Sales Fees

TGVIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TGVIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 94.70%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TGVIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 247.00% 78.08%

TGVIX - Distributions

Dividend Yield Analysis

TGVIX Category Low Category High TGVIX % Rank
Dividend Yield 1.72% 0.00% 25.02% 62.93%

Dividend Distribution Analysis

TGVIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

TGVIX Category Low Category High TGVIX % Rank
Net Income Ratio 1.32% -0.93% 6.38% 58.15%

Capital Gain Distribution Analysis

TGVIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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TGVIX - Fund Manager Analysis

Managers

Lei Wang


Start Date

Tenure

Tenure Rank

Feb 01, 2006

16.34

16.3%

Lei Wang is portfolio manager for Thornburg Investment Management. He joined Thornburg Investment Management in 2004 as associate portfolio manager and was promoted to portfolio manager in 2006. Lei holds a BA and an MA from East China Normal University and an MBA from New York University. He is a CFA charterholder. Prior to joining Thornburg, he served as an associate for Deutsche Bank as well as for Enso Capital Management. He has also worked as a bank supervision manager at China’s central bank.

Matt Burdett


Start Date

Tenure

Tenure Rank

Jan 15, 2021

1.37

1.4%

Matt Burdett is portfolio manager for Thornburg Investment Management. He rejoined the firm in 2015 as an associate portfolio manager and was promoted to portfolio manager in 2018. Matt spent several years as a senior vice president and portfolio manager at PIMCO, where he co-managed various dividend-oriented strategies. Prior to his time at PIMCO, Matt worked as an equity analyst at Thornburg. Matt was director of healthcare investment banking at CIBC World Markets / Oppenheimer prior to joining Thornburg in 2010. Earlier in his career, he was a medicinal chemist at Sunesis Pharmaceuticals. Matt holds an MBA from the Marshall School of Business at the University of Southern California and a bachelor’s degree in chemistry from the University of California, Berkeley.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.31 3.25