What this ETF is trying to do

The THORNBURG INTERNATIONAL GROWTH ETF (TXUG) is an exchange-traded fund. Its goal is to invest in companies from around the world that are expected to grow.

What the numbers show

As of October 6, 2026, the current price for one share of TXUG is $27.88. An estimated price from roughly one year ago was $26.11.

When looking at how an ETF performs, it is important to understand two different measurements: price return and total return.

• Price return only measures how much the share price itself changed.

• Total return includes both the change in share price and any cash payments (distributions) made to investors.

Over the last year, the one-year price return was approximately 6.75%. However, the one-year total return was higher, at approximately 7.30%. This shows that the total return includes the value of distributions. For example, if you had invested $10,000 into the share price alone one year ago, your investment would have grown based on that 6.75% price return.

So far this year (YTD), both the price return and the total return are approximately 14.10%.

Income and distribution explanation

This ETF has a distribution yield of approximately 0.45%. This number describes the cash payments made to investors relative to the ETF's price. These distributions are described as "irregular" or "less frequent," meaning they do not happen on a regular schedule. The trailing distributions were $0.125. It is important for new investors to know that a distribution yield is not the same thing as total return.

NAV erosion explanation

"NAV erosion" is a term used to describe when the value of the actual assets held inside the fund drops. For this ETF, the erosion-risk score is 100, and no price erosion was detected. The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Top Holdings

The following are the top holdings in the fund. Please note that this list is partial and does not include every company the ETF owns:

• ASML Holding NV (8.17%)

• Taiwan Semiconductor Manufacturing Co Ltd (5.93%)

• AMD (5.11%)

• Hoya Corp (4.14%)

• Rolls-Royce Holdings PLC (3.78%)

• AstraZeneca PLC (3.27%)

• Air Liquide SA (3.05%)

• Schneider Electric SE (3.04%)

• Lonza Group Ltd (2.92%)

• ASM International NV (2.89%)

Pros

• The fund has shown positive price returns and total returns over the last year and so far this year.

• The erosion-risk score shows no price erosion was detected.

Cons

• The distribution yield is quite low at 0.45%.

• Cash payments are irregular and do not happen frequently.

Beginner takeaway

TXUG focuses on international growth companies. While the share price has increased recently, the cash it pays out to investors is small and does not follow a regular schedule. When checking an ETF, always look at both the price return and the total return to get the full picture.