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Thornburg Strategic Municipal Income I (TSSIX) Fund Ranking and Research

Ranking, Research and Recommendation of Thornburg Strategic Municipal Income I (TSSIX) Fund

    Last Trade: $15.13 on 6/28/2017, Change: -0.02 (-0.13%)

 

Graph of Thornburg Strategic Municipal Income I Fund (TSSIX) ManagerFund Manager - Christopher M. Ryon

Fund Manager Information

Fund Manager Tenure: 8.2 years
Similar Funds: TSSAX  TSSCX 
Fund Family: Thornburg
Fund Category: Muni National Interm
Fund Performance: May 30, 2016
Fundmojo Fund Grade: A (Score: 0.74)     (What does this score mean?)
Christopher Ryon is a managing director for Thornburg Investment Management and co-portfolio manager of the Thornburg Municipal Bond Funds. Chris specializes in the trading, monitoring, and structuring of municipal bond strategies. Chris joined Thornburg in 2008 and was elected managing director in 2009. He has 23 years of investment management experience. Before joining Thornburg, Chris served as head of the Long Municipal Bond Group for Vanguard Funds. There, he oversaw the management of over $45 billion in 12 intermediate- and long-term municipal bond funds. Chris holds a BS from Villanova University and an MBA from Drexel University. He is also a CFA charterholder.  Get more insights on Christopher M. Ryon

 

Graph of Thornburg Strategic Municipal Income I Fund (TSSIX) ProfileThornburg Strategic Municipal Income I Fund (TSSIX) Profile

Fund Profile and Description

The Fund seeks a high level of current income exempt from federal individual income tax. Thornburg Strategic Municipal Income I Fund invests principally in a portfolio of municipal obligations issued by states and state agencies, local governments and their agencies, and by certain United States territories and possessions. It normally invests 100% of assets in municipal obligations. Thornburg Strategic Municipal Income I Fund may invest up to 20% of assets in taxable securities which would produce income not exempt from federal income tax because of market conditions, pending investment of idle funds or to afford liquidity.

 

Thornburg Strategic Municipal Income I (TSSIX) Fund Strength What we like about Thornburg Strategic Municipal Income I (TSSIX) Fund

Data for Thornburg Strategic Municipal Income I Fund (TSSIX) as of May 30, 2016

  • Thornburg Strategic Municipal Income I Fund (TSSIX) management has been with Thornburg Strategic Municipal Income I Fund for 8.2 years
  • Thornburg Strategic Municipal Income I Fund (TSSIX) has good short-term performance (1-year return 5.27% vs 4.71% Muni National Interm category median performance)
  • Thornburg Strategic Municipal Income I Fund (TSSIX) has good mid-term performance (3-year return 3.88% vs 3.10% Muni National Interm category median performance)
  • Thornburg Strategic Municipal Income I Fund (TSSIX) has good Long-term performance (5-year return 6.19% vs 4.14% Muni National Interm category median performance)
  • Thornburg Strategic Municipal Income I Fund (TSSIX) ratio of up-years vs down years is greater than 2
  • Thornburg Strategic Municipal Income I Fund (TSSIX) has a Morningstar rating of 4 and above
  • Thornburg Strategic Municipal Income I Fund (TSSIX) has an annual stock turnover rate of 12.13% vs Muni National Interm average of 22.40%. It is good that Thornburg Strategic Municipal Income I management does not trade extensively for its return.
  • Thornburg Strategic Municipal Income I Fund (TSSIX) is less volatile than its peers as it has a 3-year Standard Deviation of 3.28, lower than category average of 3.29
  • Thornburg Strategic Municipal Income I Fund (TSSIX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

Thornburg Strategic Municipal Income I Fund (TSSIX) Weakness What we are cautious about Thornburg Strategic Municipal Income I (TSSIX) Fund

Data for Thornburg Strategic Municipal Income I Fund (TSSIX) as of May 30, 2016

  • Thornburg Strategic Municipal Income I Fund (TSSIX) has a higher expense ratio of 0.93% than its Muni National Interm average of 0.80%
See Thornburg Strategic Municipal Income I Fund (TSSIX) performance details as of May 30, 2016

 

What do you think?

 

Compare Thornburg Strategic Municipal Income I Fund (TSSIX)Compare with other top Muni National Interm category mutual funds

Aadditional top Muni National Interm mutual funds for your consideration

FundYear to Date1 Year3 year5 year
Thornburg Strategic Municipal Income I2.465.273.886.19
Eaton Vance TABS 5 to15 Yr Lad Muni Bd I (EILTX)3.408.176.377.87Compare
BlackRock Strategic Muni Opps Inv A1 (MDMTX)3.297.784.275.68Compare
USAA Tax Exempt Intermediate-Term (USATX)2.525.223.514.92Compare

See top fund managers for Muni National Interm Category Funds

 

Compare Thornburg Strategic Municipal Income I Fund (TSSIX)Compare with Muni National Interm category ETFs

Some Muni National Interm ETFs for your consideration

ETFYear to DateOne YearThree Year
Market Vectors Intermediate Muni ETF (ITM)2.55%7.15%4.62%
iShares National AMT-Free Muni Bond (MUB)2.19%5.72%4.01%
PIMCO Intermediate Municipal Bd Actv ETF (MUNI)1.61%4.98%2.60%
Columbia Intermediate Municipal Bond ETF (GMMB)000

 

Graph of Thornburg Strategic Municipal Income I Fund (TSSIX) Net Asset TrackingThornburg Strategic Municipal Income I (TSSIX) Fund Net Asset

Track net asset change of Thornburg Strategic Municipal Income I fund (TSSIX)

DateNet Asset
05/2016$281.37M
03/2016$270.55M
02/2016$271.43M
More historic net asset information on Thornburg Strategic Municipal Income I Fund (TSSIX)

  

Graph of Thornburg Strategic Municipal Income I Fund (TSSIX) Portfolio TrackingThornburg Strategic Municipal Income I (TSSIX) Fund Portfolio Allocation

Track portfolio allocation change of Thornburg Strategic Municipal Income I fund (TSSIX)

DateCashStockBondOther
04/20164.39%0%95.61%0%
02/20164.54%0%95.46%0%
01/20167.69%0%92.31%0%
Click here to see more historic asset allocation information on Thornburg Strategic Municipal Income I Fund (TSSIX)

 

graph of Thornburg Strategic Municipal Income I Fund (TSSIX) Top 10 Position TrackingTop 10 Holdings in Thornburg Strategic Municipal Income I (TSSIX) Fund

Discover what Thornburg Strategic Municipal Income I Fund (TSSIX) manager is buying

Apr 29, 2016
Charlotte-Mecklenberg Hosp Aut Var 0.4% [2.95%]
New York N Y City Transitional Fut 0.37% [2.57%]
New Hampshire Health & Ed Facs Var 0.34% [2.27%]
Kentucky St Ppty & Bldgs Commn Rev Bd 5% [2.23%]
New York N Y City Transitional Adj 0.4% [2.16%]
Michigan Fin Auth 5% [2.11%]
Lehigh Cnty Pa Indl Dev Auth 0.9% [1.98%]
New York N Y Go Bds 5% [1.34%]
Houston Tex Pub Impt 5% [1.31%]
Baltimore Md Rev Rev Bds 5% [1.28%]

Feb 28, 2016
Michigan Fin Auth 5% [2.17%]
New York N Y City Mun Wtr Fin Adj 0.37% [1.87%]
New Mexico St Hosp Equip Ln Co Hosp 0.5% [1.87%]
California Pollutn Ctl Fing Au Ref 0.45% [1.49%]
New York N Y Go Bds 5% [1.38%]
Baltimore Md Rev Rev Bds 5% [1.34%]
Lower Colo Riv Auth 5% [1.32%]
Guam Govt Busn Privilege T Ref Bds 5% [1.29%]
Ohio St Higher Edl Fac Commn R Var 0.39% [1.23%]
California Pollution Ctl Fing Wtr Fur 5% [1.22%]

Jan 30, 2016
Michigan Fin Auth 5% [2.17%]
New York N Y City Mun Wtr Fin Adj 0.01% [1.88%]
California Pollutn Ctl Fing Au Ref 0.01% [1.5%]
New York N Y Go Bds 5% [1.4%]
Baltimore Md Rev Rev Bds 5% [1.34%]
Lower Colo Riv Auth 5% [1.33%]
Guam Govt Busn Privilege T Ref Bds 5% [1.3%]
California Pollution Ctl Fing Wtr Fur 5% [1.23%]
Houston Tex Util Sys Rev First Lie 5% [1.15%]
Lancaster Cnty Pa Hosp Auth 5% [1.14%]
Click here for Stock Holding Change Map in Thornburg Strategic Municipal Income I Fund (TSSIX)

  

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