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Trending ETFs

Thornburg Strategic Income Fund

mutual fund
TSICX
Payout Change
Pending
Price as of:
$11.33 -0.02 -0.18%
primary theme
Bond Sector Diversified
share class
C (TSICX) R4 (TSRIX) I (TSIIX) R5 (TSRRX) A (TSIAX) R6 (TSRSX) R3 (TSIRX)
TSICX (Mutual Fund)

Thornburg Strategic Income Fund

Payout Change
Pending
Price as of:
$11.33 -0.02 -0.18%
primary theme
Bond Sector Diversified
share class
C (TSICX) R4 (TSRIX) I (TSIIX) R5 (TSRRX) A (TSIAX) R6 (TSRSX) R3 (TSIRX)
TSICX (Mutual Fund)

Thornburg Strategic Income Fund

Payout Change
Pending
Price as of:
$11.33 -0.02 -0.18%
primary theme
Bond Sector Diversified
share class
C (TSICX) R4 (TSRIX) I (TSIIX) R5 (TSRRX) A (TSIAX) R6 (TSRSX) R3 (TSIRX)

Name

As of 12/23/2024

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

Thornburg Strategic Income Fund

TSICX | Fund

$11.33

$8.11 B

4.38%

$0.50

1.77%

Vitals

YTD Return

3.4%

1 yr return

3.6%

3 Yr Avg Return

0.6%

5 Yr Avg Return

2.1%

Net Assets

$8.11 B

Holdings in Top 10

18.1%

52 WEEK LOW AND HIGH

$11.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.77%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$2,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/23/2024

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

Thornburg Strategic Income Fund

TSICX | Fund

$11.33

$8.11 B

4.38%

$0.50

1.77%

TSICX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.71%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Thornburg Strategic Income Fund
  • Fund Family Name
    THORNBURG
  • Inception Date
    Dec 19, 2007
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jason Brady

Fund Description

The Fund pursues its investment goals by investing in a broad range of income-producing investments from throughout the world, primarily including debt obligations. The Fund expects, under normal conditions, to invest a majority of its assets in the debt obligations described below.

The Fund may invest in debt obligations of any kind, of any quality, and of any maturity. The Fund expects, under normal conditions, to select a majority of its investments from among the following types of debt obligations:

•bonds and other debt obligations issued by domestic and foreign companies of any size (including lower-rated “high yield” or “junk” bonds)

•mortgage-backed securities and other asset-backed securities, including commercial mortgage-backed securities

•convertible debt obligations

•obligations issued by foreign governments (including developing countries)

•collateralized mortgage obligations (“CMOs”), collateralized debt obligations (“CDOs”), collateralized bond obligations (“CBOs”), and collateralized loan obligations (“CLOs”)

•obligations of the U.S. government and its agencies and sponsored enterprises

•structured notes

•zero coupon bonds and “stripped” securities

•taxable municipal obligations and participations in municipal obligations

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 debt securities, and analysis of specific issuers.

The Fund ordinarily acquires and holds securities for investment rather than for realization of gains by short-term trading on market fluctuations. However, it may sell an investment prior to its scheduled maturity date to enhance income or reduce loss, to change the portfolio’s average duration or average maturity, to pursue other investment opportunities, in response to changes in the conditions or business of the investment’s issuer or changes in overall market conditions, or if, in Thornburg’s opinion, the investment no longer serves to achieve the Fund’s investment goals. The objective of preserving capital may prevent the Fund from obtaining the highest yields available.

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TSICX - Performance

Return Ranking - Trailing

Period TSICX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -12.8% 18.9% 83.44%
1 Yr 3.6% -13.9% 19.8% 83.90%
3 Yr 0.6%* -17.4% 13.4% 64.60%
5 Yr 2.1%* -15.3% 13.3% 55.00%
10 Yr 2.6%* -7.1% 6.9% 55.43%

* Annualized

Return Ranking - Calendar

Period TSICX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -12.0% 8.9% 51.16%
2022 -9.6% -31.8% 18.4% 28.84%
2021 -1.4% -16.2% 25.7% 46.89%
2020 4.2% -31.1% 18.7% 22.28%
2019 3.8% -6.1% 15.3% 61.27%

Total Return Ranking - Trailing

Period TSICX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -12.8% 18.9% 83.44%
1 Yr 3.6% -13.9% 19.8% 83.90%
3 Yr 0.6%* -17.4% 13.4% 64.60%
5 Yr 2.1%* -15.3% 13.3% 55.00%
10 Yr 2.6%* -7.1% 6.9% 55.43%

* Annualized

Total Return Ranking - Calendar

Period TSICX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -6.9% 22.2% 74.96%
2022 -7.2% -31.8% 21.1% 38.99%
2021 1.9% -13.5% 49.9% 54.26%
2020 7.3% -28.6% 24.1% 31.91%
2019 6.9% -4.8% 19.1% 68.59%

NAV & Total Return History

TSICX - Holdings

Concentration Analysis

TSICX Category Low Category High TSICX % Rank
Net Assets 8.11 B 2.63 M 143 B 9.87%
Number of Holdings 1156 4 9638 21.53%
Net Assets in Top 10 1.7 B -204 M 89.4 B 11.39%
Weighting of Top 10 18.08% 5.8% 265.8% 70.13%

Top 10 Holdings

  1. Thornburg Capital Management Fund 6.38%
  2. U.S. Treasury Notes 1.88%
  3. U.S. Treasury Notes 1.77%
  4. Fannie Mae Pool 1.35%
  5. U.S. Treasury Inflation-Indexed Notes 1.26%
  6. Fannie Mae Pool 1.20%
  7. U.S. Treasury Inflation-Indexed Bonds 1.17%
  8. Freddie Mac Pool 1.08%
  9. U.S. Treasury Notes 1.03%
  10. Freddie Mac Pool 0.96%

Asset Allocation

Weighting Return Low Return High TSICX % Rank
Bonds 		82.89% 0.00% 199.60% 64.43%
Other 		10.08% -75.22% 147.15% 29.95%
Stocks 		6.38% -6.18% 99.68% 19.19%
Convertible Bonds 		1.86% 0.00% 33.50% 41.67%
Preferred Stocks 		0.43% 0.00% 21.58% 22.93%
Cash 		0.40% -94.66% 99.97% 86.12%

Stock Sector Breakdown

Weighting Return Low Return High TSICX % Rank
Utilities 		0.00% 0.00% 100.00% 48.50%
Technology 		0.00% 0.00% 28.30% 40.20%
Real Estate 		0.00% 0.00% 100.00% 34.22%
Industrials 		0.00% 0.00% 100.00% 48.84%
Healthcare 		0.00% 0.00% 18.60% 47.84%
Financial Services 		0.00% 0.00% 100.00% 50.50%
Energy 		0.00% 0.00% 100.00% 10.96%
Communication Services 		0.00% 0.00% 100.00% 45.18%
Consumer Defense 		0.00% 0.00% 99.97% 36.54%
Consumer Cyclical 		0.00% 0.00% 89.95% 52.82%
Basic Materials 		0.00% 0.00% 100.00% 42.52%

Stock Geographic Breakdown

Weighting Return Low Return High TSICX % Rank
US 		6.38% -6.18% 99.68% 16.54%
Non US 		0.00% -0.30% 17.73% 58.66%

Bond Sector Breakdown

Weighting Return Low Return High TSICX % Rank
Corporate 		50.25% 0.00% 96.66% 31.72%
Securitized 		37.47% 0.00% 99.65% 24.96%
Government 		2.48% 0.00% 99.43% 74.56%
Cash & Equivalents 		0.40% 0.00% 94.89% 84.35%
Municipal 		0.30% 0.00% 54.26% 28.02%
Derivative 		0.00% -75.22% 147.15% 66.51%

Bond Geographic Breakdown

Weighting Return Low Return High TSICX % Rank
US 		80.60% 0.00% 199.60% 47.58%
Non US 		2.29% 0.00% 76.68% 48.67%

TSICX - Expenses

Operational Fees

TSICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.77% 0.03% 34.13% 24.73%
Management Fee 0.55% 0.00% 2.29% 36.84%
12b-1 Fee 1.00% 0.00% 1.00% 89.57%
Administrative Fee 0.10% 0.00% 0.70% 46.01%

Sales Fees

TSICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load 1.00% 1.00% 1.50% 56.10%

Trading Fees

TSICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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.

TSICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% 8.60%

TSICX - Distributions

Dividend Yield Analysis

TSICX Category Low Category High TSICX % Rank
Dividend Yield 4.38% 0.00% 23.30% 80.22%

Dividend Distribution Analysis

TSICX Category Low Category High Category Mod
Dividend Distribution Frequency None SemiAnnual Monthly Monthly

Net Income Ratio Analysis

TSICX Category Low Category High TSICX % Rank
Net Income Ratio 2.71% -1.55% 11.51% 58.00%

Capital Gain Distribution Analysis

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

Distributions History

View More +

TSICX - Fund Manager Analysis

Managers

Jason Brady

Start Date

Tenure

Tenure Rank

Dec 19, 2007

14.46

14.5%

Jason Brady is president and CEO of Thornburg Investment Management. He is responsible for the company’s overall strategy and direction. He is also the head of the firm’s global fixed income investment team and a portfolio manager on multiple strategies. He joined the firm in 2006, was made portfolio manager and managing director in 2007, and president and CEO in 2016. His book Income Investing: An Intelligent Approach to Profiting from Bonds, Stocks and Money Markets is a step-by-step guide to income investing. Jason holds a BA with honors in English and environmental biology from Dartmouth College, and an MBA with concentrations in analytical finance and accounting from Northwestern’s Kellogg Graduate School of Management. He is a CFA charterholder. Prior to joining Thornburg, Jason was a portfolio manager with Fortis Investments in Boston, and has held various positions at Fidelity Investments and Lehman Brothers. Jason holds a BA with honors in English and environmental biology from Dartmouth College, and an MBA with concentrations in analytical finance and accounting from Northwestern’s Kellogg Graduate School of Management. He is a CFA charterholder. Prior to joining Thornburg, Jason was a portfolio manager with Fortis Investments in Boston, and has held various positions at Fidelity Investments and Lehman Brothers.

Lon Erickson

Start Date

Tenure

Tenure Rank

Feb 01, 2015

7.33

7.3%

Lon Erickson is portfolio manager for Thornburg Investment Management. He joined Thornburg in 2008 and was made portfolio manager and managing director in 2010. Lon earned a BA in business administration with a minor in economics from Illinois Wesleyan University and an MBA from the University of Chicago’s Graduate School of Business. He is a CFA charterholder. Prior to joining Thornburg Investment Management, Lon spent almost 11 years as an analyst for State Farm Insurance in the equity and corporate bond departments.

Jeff Klingelhofer

Start Date

Tenure

Tenure Rank

Feb 01, 2015

7.33

7.3%

Jeff Klingelhofer, CFA Co-Head of Investments and Managing Director Jeff Klingelhofer is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Jeff is also a portfolio manager on multiple strategies. He joined the firm in 2010, then was promoted to associate portfolio manager in 2012. In 2015, Jeff was made portfolio manager and managing director. Jeff earned a BA in economics with a minor in business from the University of California at Irvine, and an MBA from the University of Chicago Booth School of Business in 2010. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Jeff spent four years with PIMCO, where he was responsible for monitoring portfolio leverage and risk tolerances. Jeff also worked as a commercial mortgage-backed securities intern with ratings agency DBRS and interned with the CalPERS alternative assets team.

Christian Hoffmann

Start Date

Tenure

Tenure Rank

Feb 02, 2018

4.33

4.3%

Christian Hoffmann is portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as a fixed income securities analyst and was promoted to associate portfolio manager in 2014, then portfolio manager in 2018. Christian graduated cum laude from New York University with a BA in economics. He is also a CFA charterholder. Prior to joining Thornburg, he served as a senior credit analyst with H.I.G. Capital in Miami, Florida, where he specialized in distressed debt investments and credit driven special situations. Christian began his career in the investment banking division of Lehman Brothers and later spent several years working on the high yield research desk at Lehman Brothers.

Ali Hassan

Start Date

Tenure

Tenure Rank

Feb 01, 2021

1.33

1.3%

Ali Hassan is portfolio manager for Thornburg Investment Management. He joined the firm in 2013 as a fixed income analyst, became senior fixed income analyst in 2017 and was promoted to portfolio manager in 2021. Ali graduated from Stanford University with a BA in economics and a BS in mathematical & computational science. Prior to his joining Thornburg, Ali worked at Lone Star Funds, Zeo Capital Advisors, and H.I.G. Capital on distressed credit and turnaround private equity investments. He began his career as a credit analyst in Citigroup’s loan origination and loan workout groups.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.71 3.19

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