Fund Evaluator:
Thornburg Core Plus Bond R6 (THCSX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
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| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
Thornburg Core Plus Bond R6 Overview
Thornburg Core Plus Bond R6 (THCSX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Thornburg launched the fund in 2023.
The investment seeks to maximize total return, consistent with the long-term preservation of capital. Under normal conditions, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt obligations. It may also invest in futures contracts, options, swaps, and forward contracts to hedge against the decline in the value of certain of the fund’s investments, to manage portfolio duration, or to enhance the fund’s investment returns.
About Thornburg Core Plus Bond R6 (THCSX)
There are 2 members of the management team with an average tenure of 2.83 years: Lon Erickson (2023), Christian Hoffmann (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Thornburg Core Plus Bond R6 has 325 securities in its portfolio. The top 10 holdings constitute 20.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Thornburg Core Plus Bond R6 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Thornburg Core Plus Bond R6 has 10.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.2%. There is 0.0% allocated to foreign stock, and 2.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.1% (83.1% domestic bond, 10.0% foreign bond and 0.4% convertible bond). Thornburg Core Plus Bond R6 has 4.1% of the portfolio in cash.
Assets Under Management
The fund has $280 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus Bond 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.
THCSX 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 Core Plus Bond R6 expense ratio is average compared to funds in the Intermediate Core-Plus Bond category. Thornburg Core Plus Bond R6 has an expense ratio of 0.50%, which is 36% lower than its category average, making the fund expense ratio grade a B. 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. A portfolio turnover rate cannot be currently calculated for Thornburg Core Plus Bond R6. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Thornburg Core Plus Bond R6 returned -1.4%, which earned it a grade of C, as the Intermediate Core-Plus Bond category had an average return of -1.3%. 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 funds in that category.
Thornburg Core Plus Bond R6 has a trailing yield of 5.11%, which is above the 4.36% 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 Core Plus Bond R6 Grades
Year to date, the fund has returned -0.2%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 3.4% over the past year (grade of A).
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THCSX 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 |
|
| THCSX Return (NAV) | -1.4% | -0.4% | 3.4% | na | na | na |
| THCSX Grade | C | A | A | na | na | na |
| +/- Category | -0.0% | 0.3% | 0.6% | na | na | na |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| THCSX Tax Cost Ratio | na | na | 2.0% | na | na | na |
THCSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| THCSX Return (NAV) | -0.2% | 7.7% | 1.6% | na | na | na | na | na | na | na | na |
| THCSX Grade | A | B | D | na | na | na | na | na | na | na | na |
| +/- Category | 0.4% | 0.4% | -0.6% | na | na | na | na | na | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 5.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $94 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 2.8 years | |||
| Average Tenure: 2.8 years | |||
| Managers (Year): Erickson Lon (2023), Hoffmann Christian (2023) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 325 |
| % in Top 10 Holdings: | 20.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 2.2% |
| Domestic Bond: | 83.1% |
| Foreign Bond: | 10.0% |
| Convertible Bond: | 0.4% |
| Other: | 0.0% |
| Cash: | 4.1% |
Purchase Information
| Fund Family: | Thornburg |
| Phone Number: | 800-847-0200 |
| Website: | www.thornburg.com |
| Status: | Open |
| Inception Date: | October 2, 2023 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.50% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Thornburg Core Plus Bond R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
