Thornburg New York Intermediate Municipal Fund

SYMBOL: TNYIX

Morningstar Rating • Info

Overall Morningstar Rating among 41 Muni New York Intermediate funds, based on risk-adjusted returns for class I shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 5 stars, 4 stars and 3 stars among 41, 40 and 33 funds, as of 30 Sep 2024.

As of 30 Sep 2024

Fund Assets

$25.3 M

As of 30 Sep 2024

NAV

$11.95

As of 1 Nov 2024

Change

$0.00

As of 1 Nov 2024

YTD NAV Performance

1.07%

As of 1 Nov 2024

Asset Category:

Municipal Bond

Fund Benchmark:

ICE BofA 3-15 Year U.S. Municipal Securities Index

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA

Portfolio Manager and Managing Director

Eve Lando, JD

Portfolio Manager and Managing Director

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Overview

Why Invest in This Fund?

Actively managed diversified portfolio of investment-grade municipal bonds issued by New York entities with an average maturity of three to 10 years and duration of four to six years.
Proven bottom-up fundamental approach that employs a relative value framework across sectors, issuers and revenue streams.
Tax-efficient fund seeks to provide New York investors with income that is tax-exempt at the state and federal level while minimizing changes in its share value.

Investment Objective

The fund’s goal is to provide investors with as high a level of current income exempt from federal and New York State individual income taxes as is consistent with preservation of capital. The fund also seeks to reduce share price volatility compared to longer-term bond portfolios.

Investment Approach

The fund is an actively managed diversified portfolio of municipal bonds issued by the state of New York. The investment team aims to match municipal market structure and deal flow through a relative value framework that operates across geography, sectors, issuers and revenue streams. Operating as generalists, team members participate in all key aspects of investment management: credit research, trading, portfolio construction and risk oversight.

Returns

(As of 30 Sep 2024)

YTD

10y

Inception

Total Return (%)

2.03

7.53

0.62

1.16

1.70

3.47

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

2.12

8.81

0.32

1.41

2.32

4.22

Morningstar Category Avg. (%)

2.28

8.75

-0.03

0.91

1.75

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return (%)

1.06

7.05

0.37

0.96

1.56

3.42

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

0.70

8.02

-0.07

1.09

2.13

4.15

Morningstar Category Avg. (%)

2.28

8.75

-0.03

0.91

1.75

—

Morningstar Quartile

—

YTD

10y

Inception

Total Return (%)

2.03

7.53

1.87

5.93

18.39

151.81

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

2.12

8.81

0.95

7.25

25.75

206.05

YTD

10y

Inception

Total Return (%)

1.06

7.05

1.12

4.87

16.75

149.39

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

0.70

8.02

-0.22

5.57

23.42

201.82

2018

2019

2020

2021

2022

2023

Total Return (%)

0.48

4.90

3.32

0.64

-5.34

5.09

ICE BofA 3-15 Year U.S. Municipal Securities Index (%)

1.45

7.01

4.96

0.94

-6.64

5.41

Source: Confluence

Periods less than one year are not annualized.

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted.

The maximum sales charge for the fund’s A shares is 2.00%. There is no up-front sales charge for class I shares.

Morningstar quartile ranking for Muni New York Intermediate category is based on total returns before sales charges for 1, 3, 5 and 10 years, among 41, 41, 40 and 33 funds, respectively, as of 30 Sep 2024.

Share class inception dates: A shares, 5 Sep 1997; I shares, 1 Feb 2010.

Fund Fees

(As of 1 Feb 2024)

Gross Expense Ratio (%)

1.11

Net Expense Ratio (%)

0.67

Expense Ratios - Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

Hypothetical Growth of $10,000

            Categories,I Shares,ICE BofA 3-15 Year U.S. Municipal Securities Index
            1997-09-05,10000,10000
1997-09-30,10076,10112
1997-10-31,10159,10158
1997-11-30,10197,10207
1997-12-31,10323,10372
1998-01-31,10418,10472
1998-02-28,10464,10478
1998-03-31,10478,10482
1998-04-30,10418,10420
1998-05-31,10581,10607
1998-06-30,10619,10639
1998-07-31,10633,10667
1998-08-31,10790,10864
1998-09-30,10905,11012
1998-10-31,10911,11009
1998-11-30,10925,11022
1998-12-31,10982,11085
1999-01-31,11099,11251
1999-02-28,11071,11159
1999-03-31,11067,11137
1999-04-30,11099,11174
1999-05-31,11042,11083
1999-06-30,10907,10852
1999-07-31,10964,10935
1999-08-31,10951,10884
1999-09-30,10965,10890
1999-10-31,10926,10793
1999-11-30,11013,10930
1999-12-31,10982,10884
2000-01-31,10961,10820
2000-02-29,11031,10936
2000-03-31,11166,11140
2000-04-30,11154,11076
2000-05-31,11141,11014
2000-06-30,11341,11314
2000-07-31,11468,11473
2000-08-31,11577,11646
2000-09-30,11564,11586
2000-10-31,11645,11713
2000-11-30,11708,11781
2000-12-31,11933,12092
2001-01-31,12100,12259
2001-02-28,12143,12280
2001-03-31,12242,12395
2001-04-30,12149,12224
2001-05-31,12258,12371
2001-06-30,12338,12468
2001-07-31,12468,12643
2001-08-31,12656,12886
2001-09-30,12645,12848
2001-10-31,12743,13001
2001-11-30,12651,12802
2001-12-31,12600,12686
2002-01-31,12751,12933
2002-02-28,12879,13130
2002-03-31,12653,12802
2002-04-30,12863,13144
2002-05-31,12932,13231
2002-06-30,13002,13380
2002-07-31,13155,13586
2002-08-31,13265,13780
2002-09-30,13437,14115
2002-10-31,13308,13826
2002-11-30,13272,13713
2002-12-31,13510,14093
2003-01-31,13465,13968
2003-02-28,13610,14243
2003-03-31,13605,14239
2003-04-30,13685,14351
2003-05-31,13895,14767
2003-06-30,13847,14645
2003-07-31,13558,14018
2003-08-31,13658,14180
2003-09-30,13877,14665
2003-10-31,13822,14551
2003-11-30,13911,14718
2003-12-31,13988,14840
2004-01-31,14032,14899
2004-02-29,14199,15198
2004-03-31,14142,15082
2004-04-30,13920,14640
2004-05-31,13897,14643
2004-06-30,13941,14705
2004-07-31,14050,14890
2004-08-31,14238,15227
2004-09-30,14268,15299
2004-10-31,14330,15418
2004-11-30,14235,15230
2004-12-31,14356,15442
2005-01-31,14398,15513
2005-02-28,14350,15442
2005-03-31,14278,15321
2005-04-30,14449,15555
2005-05-31,14517,15656
2005-06-30,14586,15738
2005-07-31,14504,15633
2005-08-31,14608,15790
2005-09-30,14560,15702
2005-10-31,14489,15606
2005-11-30,14548,15674
2005-12-31,14643,15800
2006-01-31,14679,15839
2006-02-28,14750,15901
2006-03-31,14656,15790
2006-04-30,14657,15794
2006-05-31,14718,15879
2006-06-30,14672,15812
2006-07-31,14819,15996
2006-08-31,14991,16216
2006-09-30,15079,16315
2006-10-31,15142,16394
2006-11-30,15229,16498
2006-12-31,15195,16447
2007-01-31,15172,16409
2007-02-28,15310,16584
2007-03-31,15312,16588
2007-04-30,15364,16634
2007-05-31,15316,16564
2007-06-30,15280,16517
2007-07-31,15395,16658
2007-08-31,15422,16723
2007-09-30,15600,16926
2007-10-31,15639,16986
2007-11-30,15742,17166
2007-12-31,15756,17239
2008-01-31,16024,17601
2008-02-29,15535,16976
2008-03-31,15870,17380
2008-04-30,15949,17453
2008-05-31,16040,17541
2008-06-30,15923,17346
2008-07-31,16028,17510
2008-08-31,16172,17755
2008-09-30,15660,17141
2008-10-31,15662,17126
2008-11-30,15769,17398
2008-12-31,15930,17759
2009-01-31,16518,18450
2009-02-28,16479,18264
2009-03-31,16452,18251
2009-04-30,16653,18557
2009-05-31,16788,18658
2009-06-30,16668,18481
2009-07-31,16915,18877
2009-08-31,17120,19055
2009-09-30,17559,19569
2009-10-31,17258,19161
2009-11-30,17440,19460
2009-12-31,17373,19457
2010-01-31,17358,19598
2010-02-28,17526,19819
2010-03-31,17455,19643
2010-04-30,17608,19863
2010-05-31,17758,20037
2010-06-30,17753,20085
2010-07-31,17961,20412
2010-08-31,18325,20862
2010-09-30,18265,20763
2010-10-31,18203,20700
2010-11-30,17972,20417
2010-12-31,17752,20134
2011-01-31,17647,20041
2011-02-28,17920,20347
2011-03-31,17845,20305
2011-04-30,18178,20661
2011-05-31,18525,20983
2011-06-30,18550,21030
2011-07-31,18704,21244
2011-08-31,18993,21579
2011-09-30,19078,21666
2011-10-31,19029,21550
2011-11-30,19170,21755
2011-12-31,19537,22180
2012-01-31,19904,22560
2012-02-29,19854,22582
2012-03-31,19680,22383
2012-04-30,19941,22630
2012-05-31,20081,22764
2012-06-30,20041,22738
2012-07-31,20301,23022
2012-08-31,20349,23041
2012-09-30,20476,23197
2012-10-31,20511,23236
2012-11-30,20805,23554
2012-12-31,20563,23263
2013-01-31,20612,23359
2013-02-28,20693,23485
2013-03-31,20634,23404
2013-04-30,20807,23623
2013-05-31,20577,23326
2013-06-30,20145,22774
2013-07-31,20099,22772
2013-08-31,19958,22510
2013-09-30,20271,22933
2013-10-31,20379,23161
2013-11-30,20301,23102
2013-12-31,20238,23031
2014-01-31,20487,23419
2014-02-28,20676,23690
2014-03-31,20624,23593
2014-04-30,20811,23844
2014-05-31,20999,24084
2014-06-30,20995,24062
2014-07-31,21055,24105
2014-08-31,21242,24358
2014-09-30,21270,24338
2014-10-31,21361,24455
2014-11-30,21374,24469
2014-12-31,21482,24544
2015-01-31,21802,24958
2015-02-28,21557,24719
2015-03-31,21618,24755
2015-04-30,21515,24685
2015-05-31,21460,24571
2015-06-30,21439,24561
2015-07-31,21580,24740
2015-08-31,21606,24772
2015-09-30,21735,24971
2015-10-31,21797,25091
2015-11-30,21876,25158
2015-12-31,22019,25319
2016-01-31,22245,25667
2016-02-29,22258,25697
2016-03-31,22303,25731
2016-04-30,22433,25899
2016-05-31,22446,25877
2016-06-30,22711,26239
2016-07-31,22657,26265
2016-08-31,22720,26304
2016-09-30,22658,26218
2016-10-31,22503,26003
2016-11-30,21824,25047
2016-12-31,21977,25305
2017-01-31,22063,25471
2017-02-28,22170,25651
2017-03-31,22189,25710
2017-04-30,22329,25935
2017-05-31,22520,26300
2017-06-30,22470,26190
2017-07-31,22577,26393
2017-08-31,22700,26614
2017-09-30,22613,26481
2017-10-31,22610,26497
2017-11-30,22500,26274
2017-12-31,22635,26479
2018-01-31,22491,26226
2018-02-28,22438,26120
2018-03-31,22418,26171
2018-04-30,22364,26083
2018-05-31,22502,26364
2018-06-30,22590,26394
2018-07-31,22623,26499
2018-08-31,22640,26530
2018-09-30,22532,26388
2018-10-31,22424,26239
2018-11-30,22585,26547
2018-12-31,22745,26862
2019-01-31,22888,27133
2019-02-28,22979,27285
2019-03-31,23194,27608
2019-04-30,23247,27676
2019-05-31,23479,28077
2019-06-30,23550,28199
2019-07-31,23708,28446
2019-08-31,23958,28778
2019-09-30,23770,28537
2019-10-31,23782,28589
2019-11-30,23813,28636
2019-12-31,23859,28744
2020-01-31,24237,29221
2020-02-29,24469,29506
2020-03-31,23755,28522
2020-04-30,23412,28243
2020-05-31,24054,29151
2020-06-30,24231,29352
2020-07-31,24500,29785
2020-08-31,24376,29713
2020-09-30,24347,29704
2020-10-31,24259,29643
2020-11-30,24549,29992
2020-12-31,24651,30168
2021-01-31,24753,30339
2021-02-28,24459,29886
2021-03-31,24542,30027
2021-04-30,24702,30253
2021-05-31,24742,30323
2021-06-30,24784,30376
2021-07-31,24959,30607
2021-08-31,24904,30534
2021-09-30,24718,30316
2021-10-31,24664,30248
2021-11-30,24786,30423
2021-12-31,24809,30453
2022-01-31,24292,29613
2022-02-28,24224,29479
2022-03-31,23649,28664
2022-04-30,23250,27983
2022-05-31,23492,28421
2022-06-30,23309,28123
2022-07-31,23687,28823
2022-08-31,23344,28260
2022-09-30,22943,27362
2022-10-31,22893,27264
2022-11-30,23415,28317
2022-12-31,23484,28432
2023-01-31,23869,29165
2023-02-28,23585,28540
2023-03-31,23874,29126
2023-04-30,23885,29056
2023-05-31,23756,28761
2023-06-30,23890,28969
2023-07-31,23963,29043
2023-08-31,23801,28790
2023-09-30,23418,28128
2023-10-31,23297,27942
2023-11-30,24249,29332
2023-12-31,24679,29971
2024-01-31,24594,29881
2024-02-29,24617,29907
2024-03-31,24659,29879
2024-04-30,24538,29557
2024-05-31,24479,29354
2024-06-30,24751,29761
2024-07-31,24900,30028
2024-08-31,25051,30332
2024-09-30,25181,30605
2024-10-31,24939,30182

Hypothetical Growth of $10,000

(As of 31 Oct 2024)

(Hypothetical Growth of $10,000 vs ICE BofA 3-15 Year U.S. Municipal Securities Index)

                        Categories,I Shares,ICE BofA 3-15 Year U.S. Municipal Securities Index
                        2023-10-31,10000,10000
2023-11-30,10409,10498
2023-12-31,10593,10726
2024-01-31,10557,10694
2024-02-29,10567,10703
2024-03-31,10584,10693
2024-04-30,10533,10578
2024-05-31,10508,10505
2024-06-30,10624,10651
2024-07-31,10688,10747
2024-08-31,10753,10855
2024-09-30,10809,10953
2024-10-31,10705,10802

                        Categories,I Shares,ICE BofA 3-15 Year U.S. Municipal Securities Index
                        2021-10-31,10000,10000
2021-11-30,10049,10058
2021-12-31,10059,10068
2022-01-31,9849,9790
2022-02-28,9821,9746
2022-03-31,9588,9476
2022-04-30,9427,9251
2022-05-31,9525,9396
2022-06-30,9450,9297
2022-07-31,9604,9529
2022-08-31,9465,9343
2022-09-30,9302,9046
2022-10-31,9282,9013
2022-11-30,9493,9362
2022-12-31,9522,9400
2023-01-31,9678,9642
2023-02-28,9563,9435
2023-03-31,9680,9629
2023-04-30,9684,9606
2023-05-31,9632,9508
2023-06-30,9686,9577
2023-07-31,9716,9601
2023-08-31,9650,9518
2023-09-30,9495,9299
2023-10-31,9446,9238
2023-11-30,9832,9697
2023-12-31,10006,9908
2024-01-31,9972,9879
2024-02-29,9981,9887
2024-03-31,9998,9878
2024-04-30,9949,9772
2024-05-31,9925,9704
2024-06-30,10035,9839
2024-07-31,10096,9927
2024-08-31,10157,10028
2024-09-30,10210,10118
2024-10-31,10112,9978

                        Categories,I Shares,ICE BofA 3-15 Year U.S. Municipal Securities Index
                        2019-10-31,10000,10000
2019-11-30,10013,10016
2019-12-31,10032,10054
2020-01-31,10191,10221
2020-02-29,10289,10321
2020-03-31,9989,9977
2020-04-30,9845,9879
2020-05-31,10114,10196
2020-06-30,10189,10267
2020-07-31,10302,10418
2020-08-31,10250,10393
2020-09-30,10238,10390
2020-10-31,10201,10368
2020-11-30,10323,10491
2020-12-31,10366,10552
2021-01-31,10408,10612
2021-02-28,10285,10454
2021-03-31,10320,10503
2021-04-30,10387,10582
2021-05-31,10403,10607
2021-06-30,10422,10625
2021-07-31,10495,10706
2021-08-31,10472,10680
2021-09-30,10394,10604
2021-10-31,10371,10580
2021-11-30,10422,10641
2021-12-31,10432,10652
2022-01-31,10215,10358
2022-02-28,10186,10311
2022-03-31,9944,10026
2022-04-30,9777,9788
2022-05-31,9878,9941
2022-06-30,9801,9837
2022-07-31,9960,10082
2022-08-31,9816,9885
2022-09-30,9647,9571
2022-10-31,9626,9536
2022-11-30,9846,9905
2022-12-31,9875,9945
2023-01-31,10037,10201
2023-02-28,9917,9983
2023-03-31,10039,10188
2023-04-30,10043,10163
2023-05-31,9989,10060
2023-06-30,10045,10133
2023-07-31,10076,10159
2023-08-31,10008,10070
2023-09-30,9847,9839
2023-10-31,9796,9773
2023-11-30,10196,10260
2023-12-31,10377,10483
2024-01-31,10342,10452
2024-02-29,10351,10461
2024-03-31,10369,10451
2024-04-30,10318,10338
2024-05-31,10293,10268
2024-06-30,10407,10410
2024-07-31,10470,10503
2024-08-31,10534,10609
2024-09-30,10588,10705
2024-10-31,10487,10557

                        Categories,I Shares,ICE BofA 3-15 Year U.S. Municipal Securities Index
                        2014-10-31,10000,10000
2014-11-30,10006,10006
2014-12-31,10057,10036
2015-01-31,10207,10206
2015-02-28,10092,10108
2015-03-31,10120,10123
2015-04-30,10072,10094
2015-05-31,10047,10048
2015-06-30,10036,10044
2015-07-31,10102,10117
2015-08-31,10115,10130
2015-09-30,10175,10211
2015-10-31,10204,10260
2015-11-30,10241,10287
2015-12-31,10308,10354
2016-01-31,10414,10496
2016-02-29,10420,10508
2016-03-31,10441,10522
2016-04-30,10502,10591
2016-05-31,10508,10582
2016-06-30,10632,10730
2016-07-31,10607,10740
2016-08-31,10636,10756
2016-09-30,10607,10721
2016-10-31,10535,10633
2016-11-30,10217,10242
2016-12-31,10288,10348
2017-01-31,10329,10416
2017-02-28,10379,10489
2017-03-31,10388,10513
2017-04-30,10453,10605
2017-05-31,10543,10754
2017-06-30,10519,10710
2017-07-31,10569,10793
2017-08-31,10627,10883
2017-09-30,10586,10828
2017-10-31,10585,10835
2017-11-30,10533,10744
2017-12-31,10596,10828
2018-01-31,10529,10724
2018-02-28,10504,10681
2018-03-31,10495,10702
2018-04-30,10470,10666
2018-05-31,10534,10781
2018-06-30,10575,10793
2018-07-31,10591,10836
2018-08-31,10599,10849
2018-09-30,10548,10791
2018-10-31,10498,10730
2018-11-30,10573,10855
2018-12-31,10648,10984
2019-01-31,10715,11095
2019-02-28,10758,11157
2019-03-31,10858,11289
2019-04-30,10883,11317
2019-05-31,10992,11481
2019-06-30,11025,11531
2019-07-31,11099,11632
2019-08-31,11216,11768
2019-09-30,11128,11669
2019-10-31,11133,11691
2019-11-30,11148,11710
2019-12-31,11169,11754
2020-01-31,11346,11949
2020-02-29,11455,12066
2020-03-31,11121,11663
2020-04-30,10960,11549
2020-05-31,11261,11920
2020-06-30,11343,12003
2020-07-31,11469,12180
2020-08-31,11411,12150
2020-09-30,11398,12147
2020-10-31,11357,12122
2020-11-30,11493,12264
2020-12-31,11540,12336
2021-01-31,11588,12406
2021-02-28,11451,12221
2021-03-31,11489,12279
2021-04-30,11564,12371
2021-05-31,11583,12400
2021-06-30,11603,12421
2021-07-31,11684,12516
2021-08-31,11659,12486
2021-09-30,11571,12397
2021-10-31,11546,12369
2021-11-30,11603,12440
2021-12-31,11614,12453
2022-01-31,11372,12109
2022-02-28,11340,12054
2022-03-31,11071,11721
2022-04-30,10885,11443
2022-05-31,10998,11622
2022-06-30,10912,11500
2022-07-31,11089,11786
2022-08-31,10928,11556
2022-09-30,10740,11189
2022-10-31,10717,11149
2022-11-30,10962,11579
2022-12-31,10994,11626
2023-01-31,11174,11926
2023-02-28,11041,11670
2023-03-31,11176,11910
2023-04-30,11182,11881
2023-05-31,11121,11761
2023-06-30,11184,11846
2023-07-31,11218,11876
2023-08-31,11142,11773
2023-09-30,10963,11502
2023-10-31,10906,11426
2023-11-30,11352,11995
2023-12-31,11553,12256
2024-01-31,11514,12219
2024-02-29,11525,12230
2024-03-31,11544,12218
2024-04-30,11487,12086
2024-05-31,11460,12004
2024-06-30,11587,12170
2024-07-31,11657,12279
2024-08-31,11727,12403
2024-09-30,11788,12515
2024-10-31,11675,12342

The Hypothetical Growth graph compares a hypothetical investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Distributions

            Categories,Total ($)
            2010-01-31,0
2010-02-28,0.04047
2010-03-31,0.03939
2010-04-30,0.03916
2010-05-31,0.03729
2010-06-30,0.03635
2010-07-31,0.03689
2010-08-31,0.03709
2010-09-30,0.03759
2010-10-31,0.03697
2010-11-30,0.03783
2010-12-31,0.03702
2011-01-31,0.03692
2011-02-28,0.03931
2011-03-31,0.03828
2011-04-30,0.03931
2011-05-31,0.03801
2011-06-30,0.03732
2011-07-31,0.03552
2011-08-31,0.03679
2011-09-30,0.03745
2011-10-31,0.03682
2011-11-30,0.03563
2011-12-31,0.03667
2012-01-31,0.03665
2012-02-29,0.03627
2012-03-31,0.03426
2012-04-30,0.03364
2012-05-31,0.03307
2012-06-30,0.03332
2012-07-31,0.03170
2012-08-31,0.03195
2012-09-30,0.03328
2012-10-31,0.03304
2012-11-30,0.03272
2012-12-31,0.03197
2013-01-31,0.03164
2013-02-28,0.03279
2013-03-31,0.03160
2013-04-30,0.03229
2013-05-31,0.03150
2013-06-30,0.03193
2013-07-31,0.03020
2013-08-31,0.02956
2013-09-30,0.03019
2013-10-31,0.02909
2013-11-30,0.03024
2013-12-31,0.02980
2014-01-31,0.02774
2014-02-28,0.02939
2014-03-31,0.02744
2014-04-30,0.02799
2014-05-31,0.02756
2014-06-30,0.02790
2014-07-31,0.02714
2014-08-31,0.02691
2014-09-30,0.02721
2014-10-31,0.02675
2014-11-30,0.02782
2014-12-31,0.02740
2015-01-31,0.02763
2015-02-28,0.02898
2015-03-31,0.02703
2015-04-30,0.02717
2015-05-31,0.02642
2015-06-30,0.02668
2015-07-31,0.02604
2015-08-31,0.02623
2015-09-30,0.02835
2015-10-31,0.02743
2015-11-30,0.02773
2015-12-31,0.02633
2016-01-31,0.02648
2016-02-29,0.02759
2016-03-31,0.02706
2016-04-30,0.02796
2016-05-31,0.02767
2016-06-30,0.02819
2016-07-31,0.02754
2016-08-31,0.02773
2016-09-30,0.03332
2016-10-31,0.02843
2016-11-30,0.02908
2016-12-31,0.02989
2017-01-31,0.03088
2017-02-28,0.03253
2017-03-31,0.03127
2017-04-30,0.03169
2017-05-31,0.03095
2017-06-30,0.03117
2017-07-31,0.03160
2017-08-31,0.03087
2017-09-30,0.03006
2017-10-31,0.02822
2017-11-30,0.02722
2017-12-31,0.02720
2018-01-31,0.02784
2018-02-28,0.02963
2018-03-31,0.02851
2018-04-30,0.02944
2018-05-31,0.02825
2018-06-30,0.02941
2018-07-31,0.02865
2018-08-31,0.02940
2018-09-30,0.02984
2018-10-31,0.02955
2018-11-30,0.02957
2018-12-31,0.02919
2019-01-31,0.02973
2019-02-28,0.03039
2019-03-31,0.02873
2019-04-30,0.02932
2019-05-31,0.02788
2019-06-30,0.02883
2019-07-31,0.02660
2019-08-31,0.02702
2019-09-30,0.02746
2019-10-31,0.02623
2019-11-30,0.02666
2019-12-31,0.02514
2020-01-31,0.02448
2020-02-29,0.02549
2020-03-31,0.02526
2020-04-30,0.02522
2020-05-31,0.02459
2020-06-30,0.02488
2020-07-31,0.02407
2020-08-31,0.02383
2020-09-30,0.02463
2020-10-31,0.02335
2020-11-30,0.02412
2020-12-31,0.02398
2021-01-31,0.02367
2021-02-28,0.02513
2021-03-31,0.02342
2021-04-30,0.02408
2021-05-31,0.02101
2021-06-30,0.02255
2021-07-31,0.02117
2021-08-31,0.02163
2021-09-30,0.02263
2021-10-31,0.02210
2021-11-30,0.02313
2021-12-31,0.02203
2022-01-31,0.02237
2022-02-28,0.02453
2022-03-31,0.02314
2022-04-30,0.02449
2022-05-31,0.02446
2022-06-30,0.02566
2022-07-31,0.02366
2022-08-31,0.02463
2022-09-30,0.02540
2022-10-31,0.02456
2022-11-30,0.02532
2022-12-31,0.02516
2023-01-31,0.02463
2023-02-28,0.02681
2023-03-31,0.02534
2023-04-30,0.02549
2023-05-31,0.02546
2023-06-30,0.02676
2023-07-31,0.02691
2023-08-31,0.02894
2023-09-30,0.02996
2023-10-31,0.02979
2023-11-30,0.03074
2023-12-31,0.03207
2024-01-31,0.02829
2024-02-29,0.03147
2024-03-31,0.03015
2024-04-30,0.03116
2024-05-31,0.03144
2024-06-30,0.03182
2024-07-31,0.03232
2024-08-31,0.03282
2024-09-30,0.03269
2024-10-31,0.03391

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
2010-01-31,1264896000,0,0,0,0
2010-02-26,1267315200,0.04047,0.04047,0,0
2010-03-31,1269993600,0.03939,0.03939,0,0
2010-04-30,1272585600,0.03916,0.03916,0,0
2010-05-28,1275264000,0.03729,0.03729,0,0
2010-06-30,1277856000,0.03635,0.03635,0,0
2010-07-30,1280534400,0.03689,0.03689,0,0
2010-08-31,1283212800,0.03709,0.03709,0,0
2010-09-30,1285804800,0.03759,0.03759,0,0
2010-10-29,1288483200,0.03697,0.03697,0,0
2010-11-30,1291075200,0.03783,0.03783,0,0
2010-12-31,1293753600,0.03702,0.03702,0,0
2011-01-31,1296432000,0.03692,0.03692,0,0
2011-02-28,1298851200,0.03931,0.03931,0,0
2011-03-31,1301529600,0.03828,0.03828,0,0
2011-04-29,1304121600,0.03931,0.03931,0,0
2011-05-31,1306800000,0.03801,0.03801,0,0
2011-06-30,1309392000,0.03732,0.03732,0,0
2011-07-29,1312070400,0.03552,0.03552,0,0
2011-08-31,1314748800,0.03679,0.03679,0,0
2011-09-30,1317340800,0.03745,0.03745,0,0
2011-10-31,1320019200,0.03682,0.03682,0,0
2011-11-30,1322611200,0.03563,0.03563,0,0
2011-12-30,1325289600,0.03667,0.03667,0,0
2012-01-31,1327968000,0.03665,0.03665,0,0
2012-02-29,1330473600,0.03627,0.03627,0,0
2012-03-30,1333152000,0.03426,0.03426,0,0
2012-04-30,1335744000,0.03364,0.03364,0,0
2012-05-31,1338422400,0.03307,0.03307,0,0
2012-06-29,1341014400,0.03332,0.03332,0,0
2012-07-31,1343692800,0.03170,0.03170,0,0
2012-08-31,1346371200,0.03195,0.03195,0,0
2012-09-28,1348963200,0.03328,0.03328,0,0
2012-10-31,1351641600,0.03304,0.03304,0,0
2012-11-30,1354233600,0.03272,0.03272,0,0
2012-12-31,1356912000,0.03197,0.03197,0,0
2013-01-31,1359590400,0.03164,0.03164,0,0
2013-02-28,1362009600,0.03279,0.03279,0,0
2013-03-28,1364688000,0.03160,0.03160,0,0
2013-04-30,1367280000,0.03229,0.03229,0,0
2013-05-31,1369958400,0.03150,0.03150,0,0
2013-06-28,1372550400,0.03193,0.03193,0,0
2013-07-31,1375228800,0.03020,0.03020,0,0
2013-08-30,1377907200,0.02956,0.02956,0,0
2013-09-30,1380499200,0.03019,0.03019,0,0
2013-10-31,1383177600,0.02909,0.02909,0,0
2013-11-29,1385769600,0.03024,0.03024,0,0
2013-12-31,1388448000,0.02980,0.02980,0,0
2014-01-31,1391126400,0.02774,0.02774,0,0
2014-02-28,1393545600,0.02939,0.02939,0,0
2014-03-31,1396224000,0.02744,0.02744,0,0
2014-04-30,1398816000,0.02799,0.02799,0,0
2014-05-30,1401494400,0.02756,0.02756,0,0
2014-06-30,1404086400,0.02790,0.02790,0,0
2014-07-31,1406764800,0.02714,0.02714,0,0
2014-08-29,1409443200,0.02691,0.02691,0,0
2014-09-30,1412035200,0.02721,0.02721,0,0
2014-10-31,1414713600,0.02675,0.02675,0,0
2014-11-28,1417305600,0.02782,0.02782,0,0
2014-12-31,1419984000,0.02740,0.02740,0,0
2015-01-30,1422662400,0.02763,0.02763,0,0
2015-02-27,1425081600,0.02898,0.02898,0,0
2015-03-31,1427760000,0.02703,0.02703,0,0
2015-04-30,1430352000,0.02717,0.02717,0,0
2015-05-29,1433030400,0.02642,0.02642,0,0
2015-06-30,1435622400,0.02668,0.02668,0,0
2015-07-31,1438300800,0.02604,0.02604,0,0
2015-08-31,1440979200,0.02623,0.02623,0,0
2015-09-30,1443571200,0.02835,0.02835,0,0
2015-10-30,1446249600,0.02743,0.02743,0,0
2015-11-30,1448841600,0.02773,0.02773,0,0
2015-12-31,1451520000,0.02633,0.02633,0,0
2016-01-29,1454198400,0.02648,0.02648,0,0
2016-02-29,1456704000,0.02759,0.02759,0,0
2016-03-31,1459382400,0.02706,0.02706,0,0
2016-04-29,1461974400,0.02796,0.02796,0,0
2016-05-31,1464652800,0.02767,0.02767,0,0
2016-06-30,1467244800,0.02819,0.02819,0,0
2016-07-29,1469923200,0.02754,0.02754,0,0
2016-08-31,1472601600,0.02773,0.02773,0,0
2016-09-30,1475193600,0.03332,0.03332,0,0
2016-10-31,1477872000,0.02843,0.02843,0,0
2016-11-30,1480464000,0.02908,0.02908,0,0
2016-12-30,1483142400,0.02989,0.02989,0,0
2017-01-31,1485820800,0.03088,0.03088,0,0
2017-02-28,1488240000,0.03253,0.03253,0,0
2017-03-31,1490918400,0.03127,0.03127,0,0
2017-04-28,1493510400,0.03169,0.03169,0,0
2017-05-31,1496188800,0.03095,0.03095,0,0
2017-06-30,1498780800,0.03117,0.03117,0,0
2017-07-31,1501459200,0.03160,0.03160,0,0
2017-08-31,1504137600,0.03087,0.03087,0,0
2017-09-29,1506729600,0.03006,0.03006,0,0
2017-10-31,1509408000,0.02822,0.02822,0,0
2017-11-30,1512000000,0.02722,0.02722,0,0
2017-12-29,1514678400,0.02720,0.02720,0,0
2018-01-31,1517356800,0.02784,0.02784,0,0
2018-02-28,1519776000,0.02963,0.02963,0,0
2018-03-29,1522454400,0.02851,0.02851,0,0
2018-04-30,1525046400,0.02944,0.02944,0,0
2018-05-31,1527724800,0.02825,0.02825,0,0
2018-06-29,1530316800,0.02941,0.02941,0,0
2018-07-31,1532995200,0.02865,0.02865,0,0
2018-08-31,1535673600,0.02940,0.02940,0,0
2018-09-28,1538265600,0.02984,0.02984,0,0
2018-10-31,1540944000,0.02955,0.02955,0,0
2018-11-30,1543536000,0.02957,0.02957,0,0
2018-12-31,1546214400,0.02919,0.02919,0,0
2019-01-31,1548892800,0.02973,0.02973,0,0
2019-02-28,1551312000,0.03039,0.03039,0,0
2019-03-29,1553990400,0.02873,0.02873,0,0
2019-04-30,1556582400,0.02932,0.02932,0,0
2019-05-31,1559260800,0.02788,0.02788,0,0
2019-06-28,1561852800,0.02883,0.02883,0,0
2019-07-31,1564531200,0.02660,0.02660,0,0
2019-08-31,1567209600,0.02702,0.02702,0,0
2019-09-30,1569801600,0.02746,0.02746,0,0
2019-10-31,1572480000,0.02623,0.02623,0,0
2019-11-30,1575072000,0.02666,0.02666,0,0
2019-12-31,1577750400,0.02514,0.02514,0,0
2020-01-31,1580428800,0.02448,0.02448,0,0
2020-02-29,1582934400,0.02549,0.02549,0,0
2020-03-31,1585612800,0.02526,0.02526,0,0
2020-04-30,1588204800,0.02522,0.02522,0,0
2020-05-31,1590883200,0.02459,0.02459,0,0
2020-06-30,1593475200,0.02488,0.02488,0,0
2020-07-31,1596153600,0.02407,0.02407,0,0
2020-08-31,1598832000,0.02383,0.02383,0,0
2020-09-30,1601424000,0.02463,0.02463,0,0
2020-10-30,1604102400,0.02335,0.02335,0,0
2020-11-30,1606694400,0.02412,0.02412,0,0
2020-12-31,1609372800,0.02398,0.02398,0,0
2021-01-29,1612051200,0.02367,0.02367,0,0
2021-02-26,1614470400,0.02513,0.02513,0,0
2021-03-31,1617148800,0.02342,0.02342,0,0
2021-04-30,1619740800,0.02408,0.02408,0,0
2021-05-28,1622419200,0.02101,0.02101,0,0
2021-06-30,1625011200,0.02255,0.02255,0,0
2021-07-30,1627689600,0.02117,0.02117,0,0
2021-08-31,1630368000,0.02163,0.02163,0,0
2021-09-30,1632960000,0.02263,0.02263,0,0
2021-10-29,1635638400,0.02210,0.02210,0,0
2021-11-30,1638230400,0.02313,0.02313,0,0
2021-12-31,1640908800,0.02203,0.02203,0,0
2022-01-31,1643587200,0.02237,0.02237,0,0
2022-02-28,1646006400,0.02453,0.02453,0,0
2022-03-31,1648684800,0.02314,0.02314,0,0
2022-04-29,1651276800,0.02449,0.02449,0,0
2022-05-31,1653955200,0.02446,0.02446,0,0
2022-06-30,1656547200,0.02566,0.02566,0,0
2022-07-29,1659225600,0.02366,0.02366,0,0
2022-08-31,1661904000,0.02463,0.02463,0,0
2022-09-30,1664496000,0.02540,0.02540,0,0
2022-10-31,1667174400,0.02456,0.02456,0,0
2022-11-30,1669766400,0.02532,0.02532,0,0
2022-12-30,1672444800,0.02516,0.02516,0,0
2023-01-31,1675123200,0.02463,0.02463,0,0
2023-02-28,1677542400,0.02681,0.02681,0,0
2023-03-31,1680220800,0.02534,0.02534,0,0
2023-04-28,1682812800,0.02549,0.02549,0,0
2023-05-31,1685491200,0.02546,0.02546,0,0
2023-06-30,1688083200,0.02676,0.02676,0,0
2023-07-31,1690761600,0.02691,0.02691,0,0
2023-08-31,1693440000,0.02894,0.02894,0,0
2023-09-29,1696032000,0.02996,0.02996,0,0
2023-10-31,1698710400,0.02979,0.02979,0,0
2023-11-30,1701302400,0.03074,0.03074,0,0
2023-12-29,1703980800,0.03207,0.03207,0,0
2024-01-31,1706659200,0.02829,0.02829,0,0
2024-02-29,1709164800,0.03147,0.03147,0,0
2024-03-28,1711843200,0.03015,0.03015,0,0
2024-04-30,1714435200,0.03116,0.03116,0,0
2024-05-31,1717113600,0.03144,0.03144,0,0
2024-06-28,1719705600,0.03182,0.03182,0,0
2024-07-31,1722384000,0.03232,0.03232,0,0
2024-08-30,1725062400,0.03282,0.03282,0,0
2024-09-30,1727654400,0.03269,0.03269,0,0
2024-10-31,1730332800,0.03391,0.03391,0,0

Distributions

(As of 31 Oct 2024)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

31 Jan 2010

—

26 Feb 2010

28 Feb 2010

0.04047

—

31 Mar 2010

0.03939

—

30 Apr 2010

0.03916

—

28 May 2010

31 May 2010

0.03729

—

30 Jun 2010

0.03635

—

30 Jul 2010

31 Jul 2010

0.03689

—

31 Aug 2010

0.03709

—

30 Sep 2010

0.03759

—

29 Oct 2010

31 Oct 2010

0.03697

—

30 Nov 2010

0.03783

—

31 Dec 2010

0.03702

—

31 Jan 2011

0.03692

—

28 Feb 2011

0.03931

—

31 Mar 2011

0.03828

—

29 Apr 2011

30 Apr 2011

0.03931

—

31 May 2011

0.03801

—

30 Jun 2011

0.03732

—

29 Jul 2011

31 Jul 2011

0.03552

—

31 Aug 2011

0.03679

—

30 Sep 2011

0.03745

—

31 Oct 2011

0.03682

—

30 Nov 2011

0.03563

—

30 Dec 2011

31 Dec 2011

0.03667

—

31 Jan 2012

0.03665

—

29 Feb 2012

0.03627

—

30 Mar 2012

31 Mar 2012

0.03426

—

30 Apr 2012

0.03364

—

31 May 2012

0.03307

—

29 Jun 2012

30 Jun 2012

0.03332

—

31 Jul 2012

0.03170

—

31 Aug 2012

0.03195

—

28 Sep 2012

30 Sep 2012

0.03328

—

31 Oct 2012

0.03304

—

30 Nov 2012

0.03272

—

31 Dec 2012

0.03197

—

31 Jan 2013

0.03164

—

28 Feb 2013

0.03279

—

28 Mar 2013

31 Mar 2013

0.03160

—

30 Apr 2013

0.03229

—

31 May 2013

0.03150

—

28 Jun 2013

30 Jun 2013

0.03193

—

31 Jul 2013

0.03020

—

30 Aug 2013

31 Aug 2013

0.02956

—

30 Sep 2013

0.03019

—

31 Oct 2013

0.02909

—

29 Nov 2013

30 Nov 2013

0.03024

—

31 Dec 2013

0.02980

—

31 Jan 2014

0.02774

—

28 Feb 2014

0.02939

—

31 Mar 2014

0.02744

—

30 Apr 2014

0.02799

—

30 May 2014

31 May 2014

0.02756

—

30 Jun 2014

0.02790

—

31 Jul 2014

0.02714

—

29 Aug 2014

31 Aug 2014

0.02691

—

30 Sep 2014

0.02721

—

31 Oct 2014

0.02675

—

28 Nov 2014

30 Nov 2014

0.02782

—

31 Dec 2014

0.02740

—

30 Jan 2015

31 Jan 2015

0.02763

—

27 Feb 2015

28 Feb 2015

0.02898

—

31 Mar 2015

0.02703

—

30 Apr 2015

0.02717

—

29 May 2015

31 May 2015

0.02642

—

30 Jun 2015

0.02668

—

31 Jul 2015

0.02604

—

31 Aug 2015

0.02623

—

30 Sep 2015

0.02835

—

30 Oct 2015

31 Oct 2015

0.02743

—

30 Nov 2015

0.02773

—

31 Dec 2015

0.02633

—

29 Jan 2016

31 Jan 2016

0.02648

—

29 Feb 2016

0.02759

—

31 Mar 2016

0.02706

—

29 Apr 2016

30 Apr 2016

0.02796

—

31 May 2016

0.02767

—

30 Jun 2016

0.02819

—

29 Jul 2016

31 Jul 2016

0.02754

—

31 Aug 2016

0.02773

—

30 Sep 2016

0.03332

—

31 Oct 2016

0.02843

—

30 Nov 2016

0.02908

—

30 Dec 2016

31 Dec 2016

0.02989

—

31 Jan 2017

0.03088

—

28 Feb 2017

0.03253

—

31 Mar 2017

0.03127

—

28 Apr 2017

30 Apr 2017

0.03169

—

31 May 2017

0.03095

—

30 Jun 2017

0.03117

—

31 Jul 2017

0.03160

—

31 Aug 2017

0.03087

—

29 Sep 2017

30 Sep 2017

0.03006

—

31 Oct 2017

0.02822

—

30 Nov 2017

0.02722

—

29 Dec 2017

31 Dec 2017

0.02720

—

31 Jan 2018

0.02784

—

28 Feb 2018

0.02963

—

29 Mar 2018

31 Mar 2018

0.02851

—

30 Apr 2018

0.02944

—

31 May 2018

0.02825

—

29 Jun 2018

30 Jun 2018

0.02941

—

31 Jul 2018

0.02865

—

31 Aug 2018

0.02940

—

28 Sep 2018

30 Sep 2018

0.02984

—

31 Oct 2018

0.02955

—

30 Nov 2018

0.02957

—

31 Dec 2018

0.02919

—

31 Jan 2019

0.02973

—

28 Feb 2019

0.03039

—

29 Mar 2019

31 Mar 2019

0.02873

—

30 Apr 2019

0.02932

—

31 May 2019

0.02788

—

28 Jun 2019

30 Jun 2019

0.02883

—

31 Jul 2019

0.02660

—

31 Aug 2019

0.02702

—

30 Sep 2019

0.02746

—

31 Oct 2019

0.02623

—

30 Nov 2019

0.02666

—

31 Dec 2019

0.02514

—

31 Jan 2020

0.02448

—

29 Feb 2020

0.02549

—

31 Mar 2020

0.02526

—

30 Apr 2020

0.02522

—

31 May 2020

0.02459

—

30 Jun 2020

0.02488

—

31 Jul 2020

0.02407

—

31 Aug 2020

0.02383

—

30 Sep 2020

0.02463

—

30 Oct 2020

31 Oct 2020

0.02335

—

30 Nov 2020

0.02412

—

31 Dec 2020

0.02398

—

29 Jan 2021

31 Jan 2021

0.02367

—

26 Feb 2021

28 Feb 2021

0.02513

—

31 Mar 2021

0.02342

—

30 Apr 2021

0.02408

—

28 May 2021

31 May 2021

0.02101

—

30 Jun 2021

0.02255

—

30 Jul 2021

31 Jul 2021

0.02117

—

31 Aug 2021

0.02163

—

30 Sep 2021

0.02263

—

29 Oct 2021

31 Oct 2021

0.02210

—

30 Nov 2021

0.02313

—

31 Dec 2021

0.02203

—

31 Jan 2022

0.02237

—

28 Feb 2022

0.02453

—

31 Mar 2022

0.02314

—

29 Apr 2022

30 Apr 2022

0.02449

—

31 May 2022

0.02446

—

30 Jun 2022

0.02566

—

29 Jul 2022

31 Jul 2022

0.02366

—

31 Aug 2022

0.02463

—

30 Sep 2022

0.02540

—

31 Oct 2022

0.02456

—

30 Nov 2022

0.02532

—

30 Dec 2022

31 Dec 2022

0.02516

—

31 Jan 2023

0.02463

—

28 Feb 2023

0.02681

—

31 Mar 2023

0.02534

—

28 Apr 2023

30 Apr 2023

0.02549

—

31 May 2023

0.02546

—

30 Jun 2023

0.02676

—

31 Jul 2023

0.02691

—

31 Aug 2023

0.02894

—

29 Sep 2023

30 Sep 2023

0.02996

—

31 Oct 2023

0.02979

—

30 Nov 2023

0.03074

—

29 Dec 2023

31 Dec 2023

0.03207

—

31 Jan 2024

0.02829

—

29 Feb 2024

0.03147

—

28 Mar 2024

31 Mar 2024

0.03015

—

30 Apr 2024

0.03116

—

31 May 2024

0.03144

—

28 Jun 2024

30 Jun 2024

0.03182

—

31 Jul 2024

0.03232

—

30 Aug 2024

31 Aug 2024

0.03282

—

30 Sep 2024

0.03269

—

31 Oct 2024

0.03391

—

Fund Facts

(As of 30 Sep 2024)

Net Fund Assets

$25.3 M

Benchmark

ICE BofA 3-15 Year U.S. Municipal Securities Index

Morningstar Category

Muni New York Intermediate

Fund Symbol

TNYIX

Share Class

Share Class Inception Date

1 Feb 2010

Number of Holdings

Portfolio Turnover

43%

Distribution Frequency

Monthly

30-Day SEC Yield (Subsidized)

2.72%

30-Day SEC Yield (Unsubsidized)

2.21%

Annualized Distribution Yield

3.24%

Characteristics

Portfolio

(As of 30 Sep 2024)

Portfolio

Benchmark

Effective Duration

4.6 Yrs

5.0 Yrs

Average Effective Maturity

9.3 Yrs

8.1 Yrs

Weighted Average Coupon

4.8%

4.5%

Portfolio

Benchmark

Yield to Worst

3.4%

3.0%

Subject to Alternative Minimum Tax

8.5%

—

Risk & Return Profile

(As of 30 Sep 2024)

10y

Annualized Alpha (%)

0.38

0.10

-0.04

Standard Deviation (%)

4.47

4.19

3.39

Sharpe Ratio

-0.67

-0.29

0.01

Up Capture (%)

70.66

75.85

75.41

Down Capture (%)

65.95

74.47

76.37

Past performance does not guarantee future results.

Risk & Return Profile metrics are based on the I share class.

Portfolio

Top Holdings

(As of 31 Aug 2024)

Name

Ticker/Symbol

Sector

Weight %

New York City Transitional Finance Authority Future Tax Secured Revenue

64971XRX8

Dedicated Tax

4.3

New York City Transitional Finance Authority Future Tax Secured Revenue

64971XFT0

Dedicated Tax

4.1

Hudson Yards Infrastructure Corp.

44420RAX8

Special Tax

4.0

Metropolitan Transportation Authority

59259Y6P9

Other Transportation

3.9

Triborough Bridge & Tunnel Authority

89602NX58

Toll Road

3.9

City of New York NY

64966LEC1

Local General Obligation

3.9

Sales Tax Asset Receivable Corp.

794665FT1

Dedicated Tax

3.9

Nassau County Sewer & Storm Water Finance Authority

63166QCF5

Water/Sewer

3.9

City of New York NY

64966Q6J4

Local General Obligation

3.4

Long Island Power Authority

542690UY6

Combined Utilities

2.8

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

(As of 30 Sep 2024)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

Dedicated Tax

17.0

15.1

Local General Obligation

13.0

9.5

Water/Sewer

10.1

5.4

Higher Education

8.5

—

Other Transportation

6.6

5.7

Multi Family Mortgage

6.6

1.9

Prerefunded / Escrow to Maturity

5.0

—

Toll Road

5.0

Industrial Development/Pollution Control

4.2

—

Special Tax

4.1

—

Cash & Cash Equivalents

0.7

—

Sector Allocation

Fund (%)

Dedicated Tax

17.0

Local General Obligation

13.0

Water/Sewer

10.1

Higher Education

8.5

Other Transportation

6.6

Multi Family Mortgage

6.6

Prerefunded / Escrow to Maturity

5.0

Toll Road

5.0

Industrial Development/Pollution Control

4.2

Special Tax

4.1

Cash & Cash Equivalents

0.7

Credit Quality

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

AAA

20.5

13.2

50.0

56.6

17.5

24.6

BBB

4.0

5.7

Not Rated

7.4

—

Cash & Cash Equivalents

0.7

—

Credit Quality

Fund (%)

AAA

20.5

50.0

17.5

BBB

4.0

Not Rated

7.4

Cash & Cash Equivalents

0.7

Maturity

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Year 1-2

26.1

—

Year 3-4

3.6

12.0

Year 5-6

6.4

20.6

Year 7-8

8.1

19.5

Year 9-10

9.0

15.7

Year 11-12

5.0

14.0

Year 13-14

8.6

12.0

Year 15-16

5.2

6.0

Year 17+

27.5

—

Cash

0.7

—

Maturity

Fund (%)

Year 1-2

26.1

Year 3-4

3.6

Year 5-6

6.4

Year 7-8

8.1

Year 9-10

9.0

Year 11-12

5.0

Year 13-14

8.6

Year 15-16

5.2

Year 17+

27.5

Cash

0.7

Cash includes cash and cash equivalents. Weights are percentages of total portfolio unless otherwise noted.

Percentages may not add up to 100 due to rounding.

Portfolio Managers

David Ashley, CFA

Portfolio Manager and Managing Director

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…

Learn More

John Bonnell, CFA

Portfolio Manager and Managing Director

John Bonnell, CFA, is portfolio manager and managing director for Thornburg Investment Management. He joined Thornburg’s municipal team in 2021. John has over 30 years of municipal bond investing experience. He spent 25 years of his career at USAA where he was most recently a senior portfolio manager and, in 2010, took on responsibility for co-leading municipal bond strategies. Earlier…

Learn More

Eve Lando, JD

Portfolio Manager and Managing Director

Eve Lando is portfolio manager for Thornburg Investment Management. She joined Thornburg's municipal team in 2019 as 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…

Learn More

Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Report

Semi-annual report

Prospectus

Statement of Additional Information (SAI)

Important Information

This communication is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

Investments carry risks, including possible loss of principal. Portfolios investing in bonds have the same interest rate, inflation, and credit risks that are associated with the underlying bonds. The value of bonds will fluctuate relative to changes in interest rates, decreasing when interest rates rise. Unlike bonds, bond funds have ongoing fees and expenses. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

A bond credit rating assesses the financial ability of a debt issuer to make timely payments of principal and interest. Ratings of AAA (the highest), AA, A, and BBB are investment-grade quality. Ratings of BB, B, CCC, CC, C and D (the lowest) are considered below investment grade, speculative grade, or junk bonds.

The performance of any index is not indicative of the performance of any particular investment. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. Investors may not make direct investments into any index.

Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Income earned from municipal bonds is exempt from regular federal and in some cases, state and local income tax. Income may be subject to the alternative minimum tax (AMT).

Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

There is no guarantee that the Fund will meet its investment objectives.

To determine a fund's Morningstar Rating™, funds and other managed products with at least a three-year history are ranked in their categories by their Morningstar Risk-Adjusted Return scores. The top 10% receive 5 stars; the next 22.5%, 4 stars; the middle 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10% receive 1 star. The Risk-Adjusted Return accounts for variation in a managed product's monthly excess performance (excluding sales charges), placing more emphasis on downward variations and rewarding consistent performance. Other share classes may have different performance characteristics.

© 2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities LLC (TSL) does not act as broker of record for investors.

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Thornburg New York Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

More Insights

The Power of “May I Ask You…?”

Family Legacy Planning: Passing on More Than Just Wealth

The World’s Best Investment Advice

Transform Customers into Life-Long, Referral-Generating Clients

The ABCs of Personal Finance

Cut to the Chase: Seizing Fixed Income Opportunities

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Thornburg New York Intermediate Municipal Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

David Ashley, CFA

John Bonnell, CFA

Eve Lando, JD

Literature

Important Information

More Insights

The Power of “May I Ask You…?”

Family Legacy Planning: Passing on More Than Just Wealth

The World’s Best Investment Advice

Transform Customers into Life-Long, Referral-Generating Clients

The ABCs of Personal Finance

Cut to the Chase: Seizing Fixed Income Opportunities