Expense Ratio History

THMMX expense ratio history

Thornburg Municipal Managed Account Fund, Class SMA

Fund company
Thornburg Investment
Type
Mutual fund

1.20%

In basis points
120 basis points
Yearly cost per $10,000
$120
Prospectus dated
1 February 2026, filed with the SEC; rounded to 0.01%
Last change
Cut from 1.87% on 1 February 2026

Fee over time

THMMX expense ratio: 0.25% until 1 Feb 2024, then 3.65%; 3.65% until 1 Feb 2025, then 1.87%; 1.87% until 1 Feb 2026, then 1.20%; read at 1.20% on 1 Feb 2026.0.00%2.00%4.00%6.00%Apr 2023Oct 2023Apr 2024Oct 2024Apr 2025Oct 20250.25% before1.20% from 1 Feb 2026
THMMX expense ratio: 0.25% until 1 Feb 2024, then 3.65%; 3.65% until 1 Feb 2025, then 1.87%; 1.87% until 1 Feb 2026, then 1.20%; read at 1.20% on 1 Feb 2026.0.00%2.00%4.00%6.00%Apr 2023Apr 2024Apr 20250.25% before1.20% from 1 Feb 2026
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Every figure we've recorded

DateFeeWhat happened
1 Feb 2026 1.20% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-02-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Feb 2026 1.20% Cut from 1.87% to 1.20%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2026-01-28
1 Feb 2025 1.87% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-02-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Feb 2025 1.87% Cut from 3.65% to 1.87%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2025-01-31
1 Feb 2024 3.65% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-02-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Feb 2024 3.65% Raised from 0.25% to 3.65%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2024-01-30
3 Apr 2023 0.25% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-04-03 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 1.20% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$1,461 in fees over 10 years

After fees, $10,000 grows to $14,478.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$123
3 years$383
5 years$663
10 years$1,461

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 4 prospectuses for this share class since 2023. Each one is listed above with a link to the filing.

How we read fees

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