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Trending ETFs

Thornburg Developing World Fund

mutual fund
THDCX
Payout Change
Pending
Price as of:
$20.94 -0.03 -0.14%
primary theme
Emerging Markets Equity
THDCX (Mutual Fund)

Thornburg Developing World Fund

Payout Change
Pending
Price as of:
$20.94 -0.03 -0.14%
primary theme
Emerging Markets Equity
THDCX (Mutual Fund)

Thornburg Developing World Fund

Payout Change
Pending
Price as of:
$20.94 -0.03 -0.14%
primary theme
Emerging Markets Equity

Name

As of 12/10/2024

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

$20.94

$652 M

0.58%

$0.12

2.42%

Vitals

YTD Return

7.5%

1 yr return

12.9%

3 Yr Avg Return

-6.1%

5 Yr Avg Return

0.5%

Net Assets

$652 M

Holdings in Top 10

36.9%

52 WEEK LOW AND HIGH

$21.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.42%

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 12/10/2024

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

$20.94

$652 M

0.58%

$0.12

2.42%

THDCX - Profile

Distributions

  • YTD Total Return 7.5%
  • 3 Yr Annualized Total Return -6.1%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.81%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Thornburg Developing World Fund
  • Fund Family Name
    THORNBURG
  • Inception Date
    Dec 16, 2009
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ben Kirby

Fund Description

Under normal market conditions, the Fund pursues its objective by investing at least 80% of its net assets in equity securities of issuers which Thornburg views as having substantial economic ties to one or more developing countries. The material factors that Thornburg considers when determining whether an issuer has substantial economic ties to a developing country include whether the issuer:

is included in the MSCI Emerging Markets Index;

is organized or headquartered in a developing country, or maintains most of its assets in one or more such countries;

has a primary listing for its securities on a stock exchange of a developing country; or

derives a majority of its profits, revenues, sales, or income from one or more developing countries.

Currently, Thornburg considers developing countries to include most Central and South American, African, Asian (including the Middle and Near East, and the Indian subcontinent) and Central and Eastern European nations.

The Fund may invest in issuers of any size of capitalization, including small companies, and expects that under normal conditions its assets will be invested in issuers domiciled in or tied economically to a variety of different developing countries.

The Fund’s policy of investing at least 80% of its net assets in developing country issuers may be changed by the Fund’s Trustees without a shareholder vote upon 60 days’ notice to shareholders. As used herein, the term “net assets” includes the amount of any borrowings made by the Fund for investment purposes.

Among the specific factors considered in identifying securities for inclusion in the Fund are domestic and international economic developments, outlooks for securities markets, the supply and demand for equity 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.

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THDCX - Performance

Return Ranking - Trailing

Period THDCX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -11.8% 39.7% 78.03%
1 Yr 12.9% -7.9% 41.1% 73.18%
3 Yr -6.1%* -11.5% 11.3% 88.18%
5 Yr 0.5%* -5.1% 12.3% 89.74%
10 Yr 1.9%* -1.3% 6.9% 91.69%

* Annualized

Return Ranking - Calendar

Period THDCX Return Category Return Low Category Return High Rank in Category (%)
2023 4.6% -6.5% 35.5% 87.93%
2022 -26.6% -50.1% -2.4% 69.35%
2021 -3.8% -33.1% 22.5% 40.06%
2020 23.1% -22.1% 80.1% 31.49%
2019 26.4% -0.7% 42.0% 11.26%

Total Return Ranking - Trailing

Period THDCX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -11.8% 39.7% 78.03%
1 Yr 12.9% -7.9% 41.1% 73.18%
3 Yr -6.1%* -11.5% 11.3% 88.18%
5 Yr 0.5%* -5.1% 12.3% 89.74%
10 Yr 1.9%* -1.3% 6.9% 91.69%

* Annualized

Total Return Ranking - Calendar

Period THDCX Return Category Return Low Category Return High Rank in Category (%)
2023 5.3% -1.0% 42.0% 92.33%
2022 -26.4% -42.2% 1.9% 76.83%
2021 -3.8% -32.5% 33.1% 67.86%
2020 23.1% -20.0% 81.6% 33.77%
2019 26.7% 2.3% 42.0% 18.66%

NAV & Total Return History


THDCX - Holdings

Concentration Analysis

THDCX Category Low Category High THDCX % Rank
Net Assets 652 M 682 K 103 B 44.40%
Number of Holdings 65 2 7534 75.89%
Net Assets in Top 10 250 M 290 K 23.8 B 40.99%
Weighting of Top 10 36.93% 2.9% 101.1% 39.91%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 10.72%
  2. Naspers Ltd 5.87%
  3. Samsung Electronics Co Ltd 3.80%
  4. SK Hynix Inc 3.08%
  5. Alibaba Group Holding Ltd 2.70%
  6. China Construction Bank Corp 2.66%
  7. ICICI Bank Ltd 2.07%
  8. HCL Technologies Ltd 2.04%
  9. Varun Beverages Ltd 2.02%
  10. Reliance Industries Ltd 1.96%

Asset Allocation

Weighting Return Low Return High THDCX % Rank
Stocks
97.94% 0.00% 103.28% 41.28%
Preferred Stocks
2.48% 0.00% 13.31% 14.47%
Other
0.00% -1.11% 39.53% 58.16%
Convertible Bonds
0.00% 0.00% 7.40% 45.29%
Cash
0.00% -2.03% 100.35% 96.17%
Bonds
0.00% 0.00% 95.13% 49.79%

Stock Sector Breakdown

Weighting Return Low Return High THDCX % Rank
Financial Services
26.13% 0.00% 48.86% 16.38%
Technology
21.46% 0.00% 47.50% 55.60%
Consumer Cyclical
15.77% 0.00% 48.94% 20.98%
Communication Services
12.79% 0.00% 39.29% 12.93%
Energy
6.05% 0.00% 24.80% 23.42%
Basic Materials
5.19% 0.00% 30.03% 73.42%
Industrials
4.09% 0.00% 43.53% 77.59%
Consumer Defense
3.96% 0.00% 25.90% 81.47%
Utilities
2.53% 0.00% 39.12% 30.32%
Healthcare
2.02% 0.00% 16.53% 78.59%
Real Estate
0.00% 0.00% 17.15% 90.80%

Stock Geographic Breakdown

Weighting Return Low Return High THDCX % Rank
Non US
88.33% 0.00% 100.52% 41.13%
US
9.62% 0.00% 100.95% 50.07%

THDCX - Expenses

Operational Fees

THDCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.42% 0.03% 29.98% 12.80%
Management Fee 0.95% 0.00% 2.00% 67.61%
12b-1 Fee 1.00% 0.00% 1.00% 87.63%
Administrative Fee 0.10% 0.01% 0.85% 55.35%

Sales Fees

THDCX 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% 5.00% 53.42%

Trading Fees

THDCX 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.

THDCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 189.00% 44.56%

THDCX - Distributions

Dividend Yield Analysis

THDCX Category Low Category High THDCX % Rank
Dividend Yield 0.58% 0.00% 9.74% 82.27%

Dividend Distribution Analysis

THDCX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual SemiAnnual Annual

Net Income Ratio Analysis

THDCX Category Low Category High THDCX % Rank
Net Income Ratio -0.81% -1.98% 17.62% 94.55%

Capital Gain Distribution Analysis

THDCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Quarterly Annually

Distributions History

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THDCX - Fund Manager Analysis

Managers

Ben Kirby


Start Date

Tenure

Tenure Rank

Feb 18, 2015

7.28

7.3%

Ben Kirby, CFA Co-Head of Investments and Managing Director Ben Kirby is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Ben is also a portfolio manager on multiple strategies. He joined Thornburg in 2008 as equity research analyst, was promoted to associate portfolio manager in 2011, and was named portfolio manager and managing director in 2013. Ben holds a BA in computer science from Fort Lewis College and an MBA from Duke University’s Fuqua School of Business. Prior to graduate school, Ben was a software engineer at Pinnacle Business Systems in Oklahoma City, Oklahoma. He is a CFA charterholder.

Charlie Wilson


Start Date

Tenure

Tenure Rank

Feb 18, 2015

7.28

7.3%

Charlie Wilson is portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as associate portfolio manager and was promoted to portfolio manager in 2014. Charlie earned a BS in geology from the University of Arizona in Tucson and a PhD in geophysics from the University of Colorado in Boulder. Prior to joining Thornburg, Charlie served as co-portfolio manager for Marsico Capital Management in Denver, Colorado. He was responsible for portfolio investments across multiple strategies and geographies, with specialization in materials, energy, technology, and payments sectors.

Joshua Rubin


Start Date

Tenure

Tenure Rank

Feb 01, 2021

1.33

1.3%

Josh Rubin is an associate portfolio manager for Thornburg Investment Management. He joined Thornburg in 2017 as a client portfolio manager, supporting the global strategies, and was promoted to associate portfolio manager in 2018. Before joining Thornburg, Josh held several positions at Driehaus Capital Management in Chicago, including portfolio manager of the global, U.S. large-cap, and U.S. mid-cap equity strategies, and assistant portfolio manager responsible for emerging markets. Prior to Driehaus, Josh co-managed the emerging markets equity strategy at Marsico Capital Management in Denver, where he was also a senior analyst covering global companies across sectors. He began his career in finance as an investment banker in the fixed income division of George K. Baum & Company in Denver. Josh holds a BSFS in international politics from the Walsh School of Foreign Service at Georgetown University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.67 13.42