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Launched · SEC filings

Thornburg Core Plus Bond ETF

TPLSNasdaqThornburgC

$24.44+0.01 (+0.06%)

At close: Nov 2, 2026, 4:00 PM ET

C51/ 100

Rank 79 of 116 in US Aggregate Bond

C51/100Rank 79 of 116inUS Aggregate Bond
Intraday session: up, 79 prints from 24.43 to 24.44. Range 24.44 to 24.50. Use the arrow keys to read each point.24.4624.4824.5010 AM12 PM2 PM4 PM
Expense ratio
0.45%
Fund size
$20M
1Y total return
0.0%
Yield · Last 12 months
4.94%
Holdings
369
Avg volume · 30D
12.1K sh
52W range
low $23.85high $26.00
Launched
Filings
SEC EDGAR

The ETF.net TPLS Grade

C

Score 51 out of 100

Category
US Aggregate Bond⁠
Rank
79 of 116
Six-pillar profile for TPLS. Scores out of 100: Cost 24, Risk 61, Mission 97, Tradability 32, Holdings 53, Durability 31. Strongest: Mission (97). Weakest: Cost (24). Leans toward Mission.

Score 51 of 100 falls in the C 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.
    F24 out of 100
    Rank 85 of 115

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A97 out of 100
    Rank 61 of 100

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B61 out of 100
    Rank 23 of 116

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D32 out of 100
    Rank 93 of 116

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C53 out of 100
    Rank 66 of 115

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D31 out of 100
    Rank 96 of 116

Our read on TPLS

ETF.net Research

In short

CThornburg's 2025 debut in the crowded aggregate-bond aisle, and it refuses to stay in the aisle: an active core-plus mandate that can wander into emerging market bonds, bank loans and structured debt, paying monthly.

Stated mandate

The fund invests in a diversified portfolio of fixed-income instruments, including emerging market bonds, bank loans, and loan participants.

Why people hold it

  • Core plus, and the plus is real: the mandate reaches past Treasuries and corporates into emerging market bonds, bank loans and loan participations.
  • Pays income at least monthly, so coupons arrive on a steady rhythm rather than a quarterly lump.
  • What it holds lines up closely with the wide-ranging mandate it advertises. No index-hugger wearing an active label.
  • Plain 1940 Act fund structure: ordinary ETF plumbing, 1099 at tax time, no partnership paperwork.

Worth knowing

  • The 0.45% fee is active-manager pricing in a category where index anchors like BND and SPAB charge 0.03%. The roaming mandate has to earn that gap.
  • Small and thinly traded, which tends to mean wider bid-ask spreads than the giants of the aggregate-bond group.
  • Launched in 2025, so the record is short. Thornburg also discloses that distributions can include return of capital, meaning part of a payout may be your own money back.

TPLS Performance

Launched Feb 4, 2025

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.
TPLS$9,997
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TPLS $9,997. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for TPLS. Periods over one year show the average yearly return.
PeriodTPLS
Year to date−0.3%
1 month+2.4%
3 months+0.3%
1 year0.0%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TPLS
YearReturn barTPLS
2026 YTD−0.3%
2025+5.6%

History from Feb 5, 2025

TPLS in the news

TPLS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
4.94%Last 12 months
Payout per share
$1.21Last 12 months
Last payment
$0.09 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 21 payments from 2025 to 2026 YTD. Feb 27, 2025 $0.08; Mar 28, 2025 $0.11; Apr 29, 2025 $0.09; May 29, 2025 $0.09; Jun 27, 2025 $0.09; Jul 30, 2025 $0.10; Aug 28, 2025 $0.09; Sep 29, 2025 $0.08; Oct 30, 2025 $0.10; Nov 26, 2025 $0.08; Dec 30, 2025 $0.18; Jan 29, 2026 $0.01; Feb 26, 2026 $0.09; Mar 30, 2026 $0.13; Apr 29, 2026 $0.11; May 28, 2026 $0.10; Jun 29, 2026 $0.10; Jul 30, 2026 $0.13; Aug 28, 2026 $0.09; Sep 29, 2026 $0.09; Oct 29, 2026 $0.09. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Oct 29, 2026Oct 30, 2026$0.09
Sep 29, 2026Sep 30, 2026$0.09
Aug 28, 2026Aug 31, 2026$0.09
Jul 30, 2026Jul 31, 2026$0.13
Jun 29, 2026Jun 30, 2026$0.10
May 28, 2026May 29, 2026$0.10
Apr 29, 2026Apr 30, 2026$0.11
Mar 30, 2026Mar 31, 2026$0.13
Feb 26, 2026Feb 27, 2026$0.09
Jan 29, 2026Jan 30, 2026$0.01
Dec 30, 2025Dec 31, 2025$0.18
Nov 26, 2025Nov 28, 2025$0.08

See all 21 payments⁠

$10,000 in TPLS 1 year ago paid $470 in dividends.⁠

TPLS Risk

Risk pillarB61 out of 100Rank 23 of 116 in US Aggregate Bond
How much the fund’s monthly returns vary, scaled to a year.
4.4%
Annualised · 20 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.38
vs 3-month T-bills · 20 months to Oct 2026
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.

The largest fall from a peak to the low that followed.
−4.8%
20 months · trough Oct 2026
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.

How strongly the fund’s returns move with its asset-class index.
0.07
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

TPLS Cost

Compare TPLS and BKAG

Overpaying vs BKAG, cheapest in US Aggregate Bond

$9,041

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TPLS 0.45%

    $9,041

  • BKAG 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • TPLS 0.45%
  • BKAG 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530TPLS $9,041BKAG $0

Year by year

YearTPLSBKAGOverpaying
10$812$0$812
20$3,128$0$3,128
30$9,041$0$9,041

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