ETF Evaluator:
Thornburg International Equity ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Foreign Large Blend Over the Last Year
| 53.2% | Pacer Nasdaq International Ptnt Ldrs ETF (PATN) |
| 37.0% | Touchstone Dynamic International ETF (TDI) |
| 36.8% | Harbor International Equity ETF (EPIN) |
| 34.8% | First Eagle Overseas Equity ETF (FEOE) |
| 33.8% | Lazard International Dynamic Equity ETF (IDEQ) |
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ETF Details
Thornburg International Equity ETF Overview
Thornburg International Equity ETF (TXUE) is an actively managed International Equity Foreign Large Blend exchange-traded fund (ETF). Thornburg launched the ETF in 2025.
The investment seeks long-term capital appreciation.
The fund invests primarily in common stocks of non-U.S. developed market companies and in depositary receipts associated with such stocks. Under normal conditions, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in common stocks, depositary receipts, or investments that provide exposure to such non-U.S. investments. The fund is non-diversified.
About Thornburg International Equity ETF (TXUE)
There are 2 members of the management team with an average tenure of 1.52 years: Lei Wang (2025) and Matt Burdett (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Thornburg International Equity ETF has 51 securities in its portfolio. The top 10 holdings constitute 33.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Thornburg International Equity ETF is part of the Equity global asset class and is within the International Equity ETF group. Thornburg International Equity ETF has 86.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 7.0% There is 86.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Thornburg International Equity ETF has 6.1% of the portfolio in cash.
Assets Under Management
The fund has $541 million in total assets, which is below the $9 billion average for the Foreign Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TXUE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Thornburg International Equity ETF expense ratio is above average compared to funds in the Foreign Large Blend category. Thornburg International Equity ETF has an expense ratio of 0.65%, which is 64% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Thornburg International Equity ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 38% for the Foreign Large Blend category.
Recently, in the month of July 2026, Thornburg International Equity ETF returned 4.8%, which earned it a grade of A, as the Foreign Large Blend category had an average return of 1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Thornburg International Equity ETF has a trailing yield of 0.94%, which is below the 2.56% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Thornburg International Equity ETF Grades
Year to date, the ETF has returned 15.0%, 2.9 percentage points better than the category, which translates into a grade of A. The fund has returned 24.6% over the past year (grade of C).
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TXUE Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TXUE Return (NAV) | 4.8% | 6.2% | 24.6% | na | na | na |
| TXUE Return (Price) | 4.6% | 5.9% | 24.8% | na | na | na |
| NAV +/- Price Return | 0.215% | 0.341% | -0.230% | na | na | na |
| Foreign Large Blend Avg | 1.1% | 4.4% | 25.0% | 16.4% | 9.2% | 9.3% |
| TXUE Grade (NAV) | A | A | C | na | na | na |
| +/- Category (NAV) | 3.6% | 1.9% | -0.5% | na | na | na |
| TXUE Tax-Cost Ratio | na | na | 0.3% | na | na | na |
TXUE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TXUE Return (NAV) | 15.0% | na | na | na | na | na | na | na | na | na | na |
| TXUE Return (Price) | 15.1% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.007% | na | na | na | na | na | na | na | na | na | na |
| Foreign Large Blend Avg | 12.1% | 31.2% | 5.2% | 16.9% | -14.7% | 10.3% | 8.8% | 22.0% | -13.2% | 24.6% | 1.9% |
| TXUE Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.9% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.9% |
| Total Assets: | $ 542 Mil |
| Share Class Assets: | $ 542 Mil |
| Turnover: | na |
| Expense Ratio: | 0.65% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Wang Lei (2025), Burdett Matt (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 51 |
| % in Top 10 Holdings: | 33.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 86.9% |
Portfolio Allocation |
|
| Domestic Stock: | 7.0% |
| Foreign Stock: | 86.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 6.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Thornburg |
| Phone Number: | 877-215-1330 |
| Website: | |
| Inception Date: | January 21, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.40% |
