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Trending ETFs

Thornburg Better World International Fund

mutual fund
TBWCX
Payout Change
Pending
Price as of:
$17.98 -0.14 -0.77%
primary theme
International Large-Cap Blend Equity
TBWCX (Mutual Fund)

Thornburg Better World International Fund

Payout Change
Pending
Price as of:
$17.98 -0.14 -0.77%
primary theme
International Large-Cap Blend Equity
TBWCX (Mutual Fund)

Thornburg Better World International Fund

Payout Change
Pending
Price as of:
$17.98 -0.14 -0.77%
primary theme
International Large-Cap Blend Equity

Name

As of 12/13/2024

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

$17.98

$545 M

0.35%

$0.06

2.82%

Vitals

YTD Return

9.3%

1 yr return

11.5%

3 Yr Avg Return

0.1%

5 Yr Avg Return

8.3%

Net Assets

$545 M

Holdings in Top 10

31.2%

52 WEEK LOW AND HIGH

$18.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.82%

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 12/13/2024

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

$17.98

$545 M

0.35%

$0.06

2.82%

TBWCX - Profile

Distributions

  • YTD Total Return 9.3%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 8.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.77%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Thornburg Better World International Fund
  • Fund Family Name
    THORNBURG
  • Inception Date
    Oct 01, 2015
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Lei Wang

Fund Description

The Fund pursues its investment goal by investing primarily in a broad range of foreign equity securities or depositary receipts of foreign equity securities. When considering investments for the Fund, the Fund’s investment advisor, Thornburg Investment Management, Inc. (“Thornburg”), combines fundamental research on issuers with analysis of significant environmental, social and governance (“ESG”) characteristics, which Thornburg defines as those ESG factors that may materially affect an issuer’s risk and return profile and, accordingly, the issuer’s long-term investment performance.

The Fund may invest in any stock or other equity security which Thornburg believes may assist the Fund in pursuing its goal, including common stocks, preferred stocks and publicly traded real estate investment trusts. 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 may also invest in developing country companies.

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 categorizes its equity investments in 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 the opinion of Thornburg 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’s investments are determined by individual issuer and industry analysis. Investment decisions also include consideration of domestic and international economic developments, outlooks for securities markets, interest rates and inflation, and the supply and demand for securities.

The Fund seeks to invest in companies which in Thornburg’s view are trading at discount to their intrinsic value and also demonstrate one or more significant positive ESG characteristics. Through Thornburg’s fundamental research process, Thornburg evaluates each potential investment based on a variety of factors, including traditional investment criteria such as the company’s ability to effectively allocate capital, willingness to pay dividends and repurchase shares, ability to sustain a competitive advantage, and ability to grow its core business. As part of its research process for the Fund’s investments, Thornburg also assesses each issuer’s ESG characteristics, focusing on those ESG characteristics which Thornburg believes are significant insofar as they are expected to materially affect the issuer’s investment performance. The specific ESG characteristics which Thornburg determines to be significant will vary over time and among different financial sectors and industries, but will generally include the following:

Environmental characteristics, such as an issuer’s emissions and energy management practices;

Social capital characteristics, such as an issuer’s data security and privacy practices;

Human capital characteristics, such as an issuer’s labor practices;

Business model and innovation characteristics, such as an issuer’s supply chain management practices; and

Leadership and governance characteristics, such as an issuer’s practices toward managing legal and regulatory risks.

While Thornburg makes its own judgments about the ESG characteristics of each investment, Thornburg’s approach may be informed by third party data and other research tools, including consideration of the list of material ESG factors established by the Sustainability Accounting Standards Board.

Market observers differ in their perspectives and understanding of the importance of ESG factors to investment decisions. In its evaluation of potential investments, Thornburg may identify as significant certain ESG characteristics that are different from the characteristics that other investors may consider significant. Thornburg consequently may not consider the same ESG characteristics that other investors might consider in evaluating a potential investment. Similarly, Thornburg may assess the significance of ESG characteristics differently than some other investors, assigning either greater or lesser emphasis to a characteristic than another investor might assign.

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.

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TBWCX - Performance

Return Ranking - Trailing

Period TBWCX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -3.4% 32.4% 23.85%
1 Yr 11.5% -1.8% 38.8% 31.75%
3 Yr 0.1%* -13.6% 48.1% 90.42%
5 Yr 8.3%* -34.2% 74.9% 5.09%
10 Yr N/A* 1.2% 32.4% N/A

* Annualized

Return Ranking - Calendar

Period TBWCX Return Category Return Low Category Return High Rank in Category (%)
2023 10.8% -1.4% 22.0% 80.38%
2022 -19.0% -43.6% 71.3% 67.52%
2021 3.7% -28.5% 18.9% 59.67%
2020 26.7% -90.1% 992.1% 2.17%
2019 21.4% -1.9% 38.8% 29.79%

Total Return Ranking - Trailing

Period TBWCX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.3% -3.4% 32.4% 23.85%
1 Yr 11.5% -1.8% 38.8% 31.75%
3 Yr 0.1%* -13.6% 48.1% 90.42%
5 Yr 8.3%* -34.2% 74.9% 5.09%
10 Yr N/A* 1.2% 32.4% N/A

* Annualized

Total Return Ranking - Calendar

Period TBWCX Return Category Return Low Category Return High Rank in Category (%)
2023 11.3% 3.2% 23.8% 93.25%
2022 -19.0% -43.6% 144.8% 85.60%
2021 19.4% -22.6% 56.0% 0.98%
2020 26.7% -89.7% 1010.8% 2.51%
2019 21.5% 4.3% 38.8% 63.65%

NAV & Total Return History


TBWCX - Holdings

Concentration Analysis

TBWCX Category Low Category High TBWCX % Rank
Net Assets 545 M 3.3 M 425 B 59.28%
Number of Holdings 57 1 10481 77.69%
Net Assets in Top 10 179 M 1.01 M 47.5 B 48.52%
Weighting of Top 10 31.18% 4.6% 147.7% 26.69%

Top 10 Holdings

  1. Thornburg Capital Management Fund 3.85%
  2. Sony Group Corp 3.43%
  3. Canadian Pacific Kansas City Ltd 3.13%
  4. Linde PLC 3.11%
  5. Constellation Software Inc/Canada 3.04%
  6. L'Oreal SA 2.98%
  7. Hitachi Ltd 2.95%
  8. Samsung Electronics Co Ltd 2.91%
  9. SAP SE 2.91%
  10. Roche Holding AG 2.87%

Asset Allocation

Weighting Return Low Return High TBWCX % Rank
Stocks
99.26% 0.00% 102.63% 10.45%
Cash
0.74% 0.00% 44.84% 81.28%
Other
0.00% -2.12% 47.54% 46.96%
Preferred Stocks
0.00% -0.05% 6.89% 72.54%
Convertible Bonds
0.00% 0.00% 4.18% 42.72%
Bonds
0.00% 0.00% 95.29% 45.71%

Stock Sector Breakdown

Weighting Return Low Return High TBWCX % Rank
Technology
22.37% 0.00% 36.32% 0.48%
Industrials
21.76% 5.17% 99.49% 5.12%
Consumer Defense
13.36% 0.00% 32.29% 10.08%
Financial Services
12.85% 0.00% 47.75% 92.16%
Consumer Cyclical
10.05% 0.00% 36.36% 60.16%
Healthcare
8.89% 0.00% 20.35% 84.32%
Basic Materials
8.63% 0.00% 23.86% 39.36%
Communication Services
1.10% 0.00% 21.69% 98.24%
Utilities
1.00% 0.00% 13.68% 75.84%
Real Estate
0.00% 0.00% 14.59% 85.28%
Energy
0.00% 0.00% 16.89% 96.80%

Stock Geographic Breakdown

Weighting Return Low Return High TBWCX % Rank
Non US
75.75% 0.00% 99.44% 84.09%
US
23.52% 0.00% 102.01% 7.96%

TBWCX - Expenses

Operational Fees

TBWCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.82% 0.01% 19.62% 5.00%
Management Fee 0.97% 0.00% 1.65% 97.33%
12b-1 Fee 1.00% 0.00% 1.00% 90.49%
Administrative Fee 0.10% 0.01% 1.00% 62.32%

Sales Fees

TBWCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load 1.00% 1.00% 4.00% 55.56%

Trading Fees

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

TBWCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 247.00% 71.92%

TBWCX - Distributions

Dividend Yield Analysis

TBWCX Category Low Category High TBWCX % Rank
Dividend Yield 0.35% 0.00% 17.49% 93.76%

Dividend Distribution Analysis

TBWCX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

TBWCX Category Low Category High TBWCX % Rank
Net Income Ratio -0.77% -0.93% 6.38% 99.68%

Capital Gain Distribution Analysis

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

Distributions History

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TBWCX - Fund Manager Analysis

Managers

Lei Wang


Start Date

Tenure

Tenure Rank

Jan 15, 2021

1.37

1.4%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.32 3.25