First-Year Review
Hartford Dynamic Bond ETF's first year: coupons covered a 3.9% slide
Thornburg Multi Sector Bond ETF
$24.71+0.05 (+0.20%)
- 0.55%
- $265M
- +0.1%
- 4.41%
- 0.1M sh
- $24.64
- low $24.42high $26.52
The ETF.net TMB Grade
B
Score 67 out of 100
- 5 of 25
Score 67 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C54 out of 100Rank 12 of 25Mission
Whether the fund did what it promised, tested against its stated mandate.A86 out of 100Rank 4 of 14Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C52 out of 100Rank 10 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B68 out of 100Rank 6 of 25Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A80 out of 100Rank 4 of 25Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B69 out of 100Rank 8 of 25
Our read on TMB
BThornburg's veteran bond desk in an ETF wrapper: one actively managed sleeve that roams across sectors, geographies and credit tiers instead of locking you into a single slice of the bond market.
The Fund seeks total return from income and capital appreciation. Its investment objective may be changed without shareholder approval.
Why people hold it
- Go-anywhere mandate. Managers shift across sectors, geographies, credit qualities and maturities, including a deliberate slug of non-investment-grade bonds, rather than tracking one fixed slice.thornburg.com
- Most rivals here are single-sleeve index funds: green bonds (BGRN), agency paper (AGZ), EM local currency (EMLC). TMB is the one hired to pick among all of them.
- Income arrives monthly, not quarterly, which suits anyone treating a bond sleeve as a paycheck line.
- The portfolio does what the label says. Holdings match the multi-sector brief closely, and it lands in the stronger half of our bond group on how faithfully it delivers its stated mission.
Worth knowing
- Active pricing: 0.55% a year, above the typical fund in this bond group. You are paying for the manager's judgment, not an index license.
- A standing allocation to below-investment-grade bonds means more credit risk than a plain core bond fund, and those bonds tend to wobble when markets get nervous.thornburg.com
- Launched in 2025, so the track record is short and the asset base still modest. The objective itself can also be changed without a shareholder vote.thornburg.com
TMB Holdings
- Bonds
- 648
- 20%
- United States Treasury Note/Bond
TMB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
TMB$10,012
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | TMB |
|---|---|
| Year to date | −0.8% |
| 1 month | −0.8% |
| 3 months | −1.7% |
| 1 year | +0.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TMB |
|---|---|---|
| 2026 YTD | −0.8% | |
| 2025 | +6.1% |
TMB in the news
TMB Dividends
- 4.41%
- $1.09
- $0.09 per share
- Monthly
Distribution history
TMB Risk
- 2.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.61
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −2.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.05
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TMB Cost
0.55%
TMB0.55%
- The middle half of Multi-Sector Bond Income funds
- Median 0.55%
11 of the 23 Multi-Sector Bond Income funds charge less.
Other funds in Multi-Sector Bond Income
- BHISFFirst Trust High Income Strategic Focus ETFExpense ratio 0.10%1 year return −1.1%
- BXAGGMorgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETFExpense ratio 0.50%1 year return —
- BMSTIMadison Short Term Strategic Income ETFExpense ratio 0.36%1 year return +1.1%
- BTMSFT. Rowe Price Multi-Sector Income ETFExpense ratio 0.41%1 year return —
- BVMSBVoya Multi-Sector Income ETFExpense ratio 0.45%1 year return —