Returns Chart

Key Stats

Net Expense Ratio Total Assets Under Management Weighted Average Dividend Yield Turnover Ratio (Generic)
0.99% 89.00M -- 32.00%
1 Year Fund Level Flows 1 Year Total Returns (Daily) Annualized Total Returns Since Inception (Daily) Max Drawdown (Since Inception)
-5.705M 5.17% Upgrade Upgrade

Basic Info

Investment Strategy
The Fund seeks to obtain as high a level of current income exempts from federal and New Mexico state individual income taxes. The Fund invests 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.
General
Security Type Mutual Fund
Equity Style --
Broad Asset Class Municipal Bond
Broad Category Fixed Income
Global Peer Group Bond USD Municipal
Peer Group Other States Intermediate Muni Debt Fds
Global Macro Bond HC
US Macro Single State Municipal Debt Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Other States Intermediate Muni Debt Fds
Fund Owner Firm Name Thornburg
Broad Asset Class Benchmark Index
^BBMBTR 100.0%

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Net Fund Flows Versus Peer Group

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1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
1 Month
% Rank: 54
-3.453M Peer Group Low
3.645M Peer Group High
1 Year
% Rank: 54
-5.705M
-25.68M Peer Group Low
31.36M Peer Group High
3 Months
% Rank: 66
-8.159M Peer Group Low
5.997M Peer Group High
3 Years
% Rank: 63
-123.48M Peer Group Low
1.624M Peer Group High
6 Months
% Rank: 63
-10.05M Peer Group Low
33.53M Peer Group High
5 Years
% Rank: 63
-191.66M Peer Group Low
350243.0 Peer Group High
YTD
% Rank: --
-- Peer Group Low
-- Peer Group High
10 Years
% Rank: 75
-211.81M Peer Group Low
156.66M Peer Group High
Date Unavailable

Performance Versus Peer Group

 
20%
15%
10%
5%
0
Name
1M
3M
YTD
1Y
3Y
5Y
10Y
15Y
Total Return (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
Peer Group Rtn. (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
% Rank in Peer Group (NAV)
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
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Annual Total Returns Versus Peers

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Name
2019
2020
2021
2022
2023
2024
2025
YTD
4.49%
3.46%
0.10%
-6.27%
3.93%
0.64%
4.07%
0.51%
7.54%
5.21%
1.52%
-8.53%
6.40%
1.05%
4.25%
0.85%
5.63%
4.15%
-0.48%
-6.10%
3.61%
-0.05%
4.00%
0.68%
5.90%
4.05%
0.35%
-6.72%
3.83%
0.67%
4.13%
0.60%
6.08%
4.59%
0.27%
-7.35%
4.54%
1.04%
4.59%
0.62%
5.33%
4.05%
0.31%
-6.20%
3.75%
0.30%
3.82%
0.47%
As of January 15, 2026.

Fundamentals

General
Distribution Yield --
Dividend Yield TTM (1-14-26) 2.90%
30-Day SEC Yield (10-31-25) 2.64%
7-Day SEC Yield --
Number of Holdings 102
Bond
Yield to Maturity (10-31-25) 3.37%
Effective Duration --
Average Coupon 4.62%
Calculated Average Quality 2.303
Effective Maturity 8.821
Nominal Maturity 11.58
Number of Bond Holdings 99
As of October 31, 2025

Asset Allocation

As of October 31, 2025.
Type % Net
Cash 0.98%
Stock 0.00%
Bond 97.32%
Convertible 0.00%
Preferred 0.00%
Other 1.70%
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Fees & Availability

Fees
Actual 12B-1 Fee 0.25%
Actual Management Fee 0.43%
Administration Fee 28.38K%
Maximum Front Load 2.00%
Maximum Deferred Load --
Maximum Redemption Fee --
General Availability
Available for Insurance Product No
Available for RRSP No
Purchase Details
Open to New Investors Yes
Minimum Initial Investment 5000.00 None
Minimum Subsequent Investment 100.00 None

Basic Info

Investment Strategy
The Fund seeks to obtain as high a level of current income exempts from federal and New Mexico state individual income taxes. The Fund invests 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.
General
Security Type Mutual Fund
Equity Style --
Broad Asset Class Municipal Bond
Broad Category Fixed Income
Global Peer Group Bond USD Municipal
Peer Group Other States Intermediate Muni Debt Fds
Global Macro Bond HC
US Macro Single State Municipal Debt Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Other States Intermediate Muni Debt Fds
Fund Owner Firm Name Thornburg
Broad Asset Class Benchmark Index
^BBMBTR 100.0%

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Fundamentals

General
Distribution Yield --
Dividend Yield TTM (1-14-26) 2.90%
30-Day SEC Yield (10-31-25) 2.64%
7-Day SEC Yield --
Number of Holdings 102
Bond
Yield to Maturity (10-31-25) 3.37%
Effective Duration --
Average Coupon 4.62%
Calculated Average Quality 2.303
Effective Maturity 8.821
Nominal Maturity 11.58
Number of Bond Holdings 99
As of October 31, 2025

Fund Details

Key Dates
Inception Date 6/21/1991
Share Classes
THNDX D
THNIX Inst
Attributes
Inverse Fund No
Leveraged Fund --
Currency Hedged Fund --
Socially Responsible Fund No

Top Portfolio Holders

Name % Weight
Portfolio A 5.00%
Portfolio B 3.50%
Portfolio C 2.25%
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Excel Add-In Codes

Name: =YCI("M:THNMX", "name")
Broad Asset Class: =YCI("M:THNMX", "broad_asset_class")
Broad Category: =YCI("M:THNMX", "broad_category_group")
Prospectus Objective: =YCI("M:THNMX", "prospectus_objective")
To find the codes for any of our securities and financial metrics, see our Complete Excel Reference.
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