THNMX: Thornburg New Mexico Intermediate Municipal Fund - MutualFunds.com
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Thornburg NM Intermediate Municipal A

THNMX - Snapshot

Vitals

  • YTD Return -0.1%
  • 3 Yr Annualized Return 3.1%
  • 5 Yr Annualized Return 1.9%
  • Net Assets $155 M
  • Holdings in Top 10 21.6%

52 WEEK LOW AND HIGH

$13.53
$13.38
$13.61

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.98%

SALES FEES

  • Front Load 2.00%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.26%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $5,000
  • IRA $2,000

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Muni Single State Interm

Compare THNMX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$14.89

0.00%

$85.72 B

-

$0.00

0.20%

0.17%

$11.26

0.00%

$36.46 B

-

$0.00

0.00%

0.17%

$13.76

0.00%

$26.45 B

-

$0.00

1.03%

0.52%

$117.60

+0.03%

$22.01 B

-

-

0.28%

0.07%

$15.94

0.00%

$21.98 B

-

$0.00

-0.06%

0.17%

THNMX - Profile

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.83%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Thornburg New Mexico Intermediate Municipal Fund
  • Fund Family Name
    Thornburg
  • Inception Date
    Jun 18, 1991
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    David Ashley

Fund Description

The fund pursues its primary goal by investing principally in a laddered maturity portfolio of municipal obligations issued by the State of New Mexico and its agencies, and by New Mexico local governments and their agencies. It is non-diversified.


THNMX - Performance

Return Ranking - Trailing

Period THNMX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -2.2% 7.3% 90.15%
1 Yr 2.3% -1.3% 22.3% 84.83%
3 Yr 3.1%* 0.3% 10.0% 85.06%
5 Yr 1.9%* -0.6% 7.8% 86.70%
10 Yr 2.5%* -0.2% 9.6% 85.70%

* Annualized

Return Ranking - Calendar

Period THNMX Return Category Return Low Category Return High Rank in Category (%)
2020 1.7% -2.8% 310.0% 46.76%
2019 2.1% -0.3% 15.4% 87.76%
2018 -1.1% -10.3% 97.2% 17.98%
2017 -0.4% -100.0% 7.6% 94.60%
2016 -2.6% -7.9% 96.8% 39.36%

Total Return Ranking - Trailing

Period THNMX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -2.2% 7.3% 90.15%
1 Yr 0.3% -5.4% 22.3% 90.57%
3 Yr 2.4%* -1.7% 10.0% 88.74%
5 Yr 1.5%* -1.8% 7.8% 91.10%
10 Yr 2.2%* -0.4% 9.6% 87.26%

* Annualized

Total Return Ranking - Calendar

Period THNMX Return Category Return Low Category Return High Rank in Category (%)
2020 1.7% -2.8% 310.0% 46.76%
2019 2.1% -0.3% 15.4% 87.94%
2018 -1.1% -10.3% 11.0% 21.13%
2017 -0.4% -100.0% 7.6% 94.95%
2016 -2.6% -7.9% 3.0% 43.82%

NAV & Total Return History


THNMX - Holdings

Concentration Analysis

THNMX Category Low Category High THNMX % Rank
Net Assets 155 M 907 K 85.7 B 76.74%
Number of Holdings 156 3 11766 69.83%
Net Assets in Top 10 33.3 M -241 M 4.15 B 72.85%
Weighting of Top 10 21.56% 2.3% 100.0% 29.56%

Top 10 Holdings

  1. BERNALILLO CNTY N MEX GROSS RCPTS TAX REV 5.25% 3.01%
  2. NEW MEXICO FIN AUTH REV 5% 2.74%
  3. FARMINGTON N MEX POLLUTN CTL REV 4.7% 2.54%
  4. BERNALILLO CNTY N MEX GROSS RCPTS TAX REV 5.7% 2.32%
  5. FARMINGTON N MEX POLLUTN CTL REV 1.1% 2.29%
  6. BERNALILLO CNTY N MEX GROSS RCPTS TAX REV 5.25% 2.20%
  7. SANTA FE NEW MEXICO RETIREMENT FAC REV 4.5% 2.15%
  8. NEW MEXICO EDL ASSISTANCE FNDTN 5% 1.95%
  9. LOS RANCHOS DE ALBUQUERQUE NEW MEXICO EDL FACS REV 4.5% 1.93%
  10. NEW MEXICO ST 5% 1.70%

Asset Allocation

Weighting Return Low Return High THNMX % Rank
Bonds
98.44% 65.18% 145.79% 51.71%
Cash
1.56% -45.79% 34.82% 46.50%
Stocks
0.00% -0.06% 2.34% 37.09%
Preferred Stocks
0.00% -0.94% 1.06% 35.34%
Other
0.00% -13.58% 30.00% 37.91%
Convertible Bonds
0.00% 0.00% 1.29% 35.46%

Bond Sector Breakdown

Weighting Return Low Return High THNMX % Rank
Municipal
98.44% 42.61% 100.00% 50.60%
Cash & Equivalents
1.56% 0.00% 34.82% 48.09%
Derivative
0.00% 0.00% 0.85% 35.23%
Securitized
0.00% 0.00% 7.07% 36.82%
Corporate
0.00% 0.00% 15.60% 46.04%
Government
0.00% 0.00% 50.29% 40.41%

Bond Geographic Breakdown

Weighting Return Low Return High THNMX % Rank
US
95.38% 65.18% 141.11% 58.57%
Non US
3.06% 0.00% 23.68% 24.42%

THNMX - Expenses

Operational Fees

THNMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.98% 0.01% 16.95% 33.22%
Management Fee 0.50% 0.00% 1.12% 77.46%
12b-1 Fee 0.25% 0.00% 1.00% 43.24%
Administrative Fee 0.10% 0.01% 0.47% 34.15%

Sales Fees

THNMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.00% 0.50% 5.75% 94.96%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

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

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.

THNMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.26% 0.00% 299.40% 35.97%

THNMX - Distributions

Dividend Yield Analysis

THNMX Category Low Category High THNMX % Rank
Dividend Yield 0.00% 0.00% 1.75% 39.67%

Dividend Distribution Analysis

THNMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

THNMX Category Low Category High THNMX % Rank
Net Income Ratio 1.83% -1.65% 5.71% 70.80%

Capital Gain Distribution Analysis

THNMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

THNMX - Fund Manager Analysis

Managers

David Ashley


Start Date

Tenure

Tenure Rank

Feb 01, 2019

2.33

2.3%

David Ashley is portfolio manager for Thornburg Investment Management. He joined Thornburg as associate portfolio manager in 2011 and was named portfolio manager in 2019. Dave earned a BS in finance and MBA from the University of Delaware in 2001. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Dave was a credit analyst for Wilmington Trust in Delaware.

Eve Lando


Start Date

Tenure

Tenure Rank

Jul 01, 2020

0.92

0.9%

Eve Lando is a portfolio manager for Thornburg Investment Management. She joined Thornburg’s municipal bond team in 2019 as an associate portfolio manager and was named portfolio manager in 2020. Eve holds a BA in urban studies from Columbia University and a JD from Brooklyn Law School, with a concentration in business law studies. She has extensive experience in municipal bond research and analysis, with particular focus on deal structures and legal covenants. Eve has covered sectors such as state and local government finance, public power, essential services, health care and higher education, across the investment grade and high-yield spectrum. Prior to joining Thornburg, she worked for over 14 years at Lazard Asset Management, most recently as a senior vice president and municipal research analyst, and before that, she was a municipal research associate at AllianceBernstein.

John Bonnell


Start Date

Tenure

Tenure Rank

Apr 06, 2021

0.15

0.2%

John C. Bonnell, CFA, Victory Capital Senior Portfolio Manager--USAA Investments, a Victory Capital investment franchise, has 30 years of investment management experience, 25 of which have been with USAA Asset Management Company (AMCO), which was acquired by the Adviser's parent company in 2019. Education: B.B.A., University of Texas at San Antonio; M.B.A., St. Mary's University. He holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute, and the National Federation of Municipal Analysts.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 36.19 7.08 0.58