Thornburg American Opportunities Fund (TAOZ US)
TAOZ US$89.05
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Performance
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Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 89.05
- Change
- ▲ 0.03 (0.04)
- Bid / Ask
- 88.92 - 89.12
- Volume
- 1
- Turnover
- 89,540
- Open
- 89.03
- Day Range
- 89.03 - 89.03
- VWAP
- 89.54
- Prev Close
- 89.02
- Last Trade
- 28/10 4:00pm
Fund profile
Displays who issues the fund, how it is structured and invests, its Morningstar category and benchmark, size, headline costs and dates, sourced from Morningstar. Fund size counts every class of the fund; ETF net assets is this listing alone.
Fund size
$500.6M
OCT 2026
Distributions
Annually
Since inception
0.6 yrs
MAR 2026
- Legal name
- Thornburg American Opportunities Fund ETF Class
- Issuer
- Thornburg
- Type
- Exchange-Traded Fund
- Structure
- Open Ended Investment Company
- Management style
- Actively managed
- Morningstar category
- Large Value
- Category index
- Russell 1000 Value TR USD
- Benchmark
- S&P 500 (TR) (1970)
- ETF net assets
- $9.8M
- Units on issue
- 110,000
- Management fee
- 0.79% p.a.
- Domicile
- United States
- Base currency
- USD
- Inception
- 31 MAR 2026
- Listed
- 1 APR 2026
- Index provider
- Standard and Poors
Objective and strategy
The investment seeks long-term capital appreciation by investing in equity and debt securities of all types. Under normal conditions, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity investments that are tied economically to the United States.
Asset allocation
Displays how the fund is split between shares, bonds, cash and other assets, sourced from Morningstar.
US equity 68.95%Non-US equity 30.16%
| Asset class | Net % | Long % | Short % |
|---|---|---|---|
| Equity | 99.11 | 99.11 | — |
| Bond | 0.00 | 0.00 | — |
| Cash | 0.89 | 0.89 | — |
| Other | 0.00 | 0.00 | — |
Sector exposure
Displays the share of the fund held in each sector, sourced from Morningstar.
Cyclical 37.17%Sensitive 45.75%Defensive 17.08%
- Basic Materials
- 0.00%
- Consumer Cyclical
- 13.08%
- Financial Services
- 20.67%
- Real Estate
- 3.41%
- Communication Services
- 12.79%
- Energy
- 5.08%
- Industrials
- 5.49%
- Technology
- 22.39%
- Consumer Defensive
- 2.62%
- Healthcare
- 10.63%
- Utilities
- 3.83%
Region exposure
Displays the share of the fund held in each region, sourced from Morningstar.
Developed markets 97.38%Emerging markets 2.62%
- North America
- 80.33%
- Latin America
- 2.62%
- United Kingdom
- 2.14%
- Europe Developed
- 5.18%
- Europe Emerging
- 0.00%
- Africa / Middle East
- 0.00%
- Japan
- 4.60%
- Australasia
- 0.00%
- Asia Developed
- 5.13%
- Asia Emerging
- 0.00%
Country exposure
Displays the twelve countries the fund holds most of, sourced from Morningstar.
- United States
- 69.57%
- Canada
- 10.76%
- Japan
- 4.60%
- France
- 3.60%
- South Korea
- 3.49%
- Mexico
- 2.62%
- United Kingdom
- 2.14%
- Hong Kong
- 1.64%
- Germany
- 1.58%
Style box
Displays where the fund's shareholdings sit on Morningstar's style box: size (large, mid, small) down and investment style (value, blend, growth) across, sourced from Morningstar.
LargeMidSmallValueBlendGrowth
- Style
- Large Value
- Average moat
- Moderate
Size score
222
Small
Mid
Large
Value-growth score
97
Value
Blend
Growth
Economic moat
Wide 47%Narrow 39%None 14%
Market capitalisation
Displays the share of the fund's shareholdings in giant, large, mid, small and micro cap companies, sourced from Morningstar.
- Giant
- 27.13%
- Large
- 28.44%
- Mid
- 29.29%
- Small
- 14.32%
- Micro
- 0.81%
Giant 27%Large 28%Mid 29%Small 14%Micro 1%
- Average market cap
- $81.38B
- Number of holdings
- 44
- Shares held
- 43
Portfolio statistics · 23 OCT 2026
Displays the valuation, yield, size, concentration and quality of the fund's shareholdings taken together (trailing twelve months), sourced from Morningstar.
- Price / earnings
- 19.79
- Price / book
- 3.40
- Price / sales
- 2.27
- Price / cash flow
- 10.75
- Dividend yield
- 1.24%
- Assets in top 10
- 40.22%
- Return on equity
- 27.97%
- Net margin
- 19.77%
- Earnings growth (3 yr)
- 16.23%
Top holdings · top 10 = 41.11% of assets
Displays the fund's ten largest holdings and their weight in the portfolio, sourced from Morningstar.
| Holding | % Weight | First bought | Market value | Currency | Units held | Sector | Country | |
|---|---|---|---|---|---|---|---|---|
| Alphabet Inc Class A GOOGL | 5.22 | APR 2026 | 25.7M | USD | 75,338 | Communication Services | United States | |
| Apple Inc AAPL | 5.03 | APR 2026 | 24.7M | USD | 75,130 | Technology | United States | |
| Meta Platforms Inc Class A META | 4.32 | APR 2026 | 21.3M | USD | 28,783 | Communication Services | United States | |
| Eli Lilly and Co LLY | 4.32 | FEB 2026 | 21.3M | USD | 17,944 | Healthcare | United States | |
| Round One Corp 4680 | 4.27 | APR 2026 | 21.0M | JPY | 2.7M | Consumer Cyclical | Japan | |
| Samsung Electronics Co Ltd Participating Preferred 005935 | 4.23 | JUL 2026 | 20.8M | KRW | 138,393 | Technology | South Korea | |
| IQVIA Holdings Inc IQV | 3.76 | APR 2026 | 18.5M | USD | 68,783 | Healthcare | United States | |
| Charles Schwab Corp SCHW | 3.59 | APR 2026 | 17.7M | USD | 178,319 | Financial Services | United States | |
| Colliers International Group Inc Shs Subord Voting CIGI | 3.24 | FEB 2026 | 16.0M | CAD | 177,161 | Real Estate | Canada | |
| Coherent Corp COHR | 3.15 | JAN 2024 | 15.5M | USD | 53,145 | Technology | United States |
Trailing returns · 30 SEP 2026
Displays total returns after fees at net asset value, the return at the ASX market price, the return before fees, and where the fund ranks among funds in its Morningstar category, sourced from Morningstar.
Fund (NAV) Market price
1M
-4.9
3M
1.7
6M
8.9
| Period | Fund (NAV) % | Market price % | Before fees % | Rank in category |
|---|---|---|---|---|
| 1 month | -4.93 | -2.02 | — | 81 / 1,150 |
| 3 months | 1.66 | 4.57 | — | — |
| 6 months | 8.91 | 12.25 | — | — |
Returns to 30 SEP 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Risk statistics · 30 SEP 2026
Displays how the fund has moved relative to its category index: alpha (return beyond the index), beta (sensitivity to it), R-squared (how much the index explains), volatility and risk-adjusted returns, sourced from Morningstar.
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Alpha | 0.65 | -7.74 | -8.13 | -6.01 |
| Beta | 0.57 | 1.00 | 0.96 | 1.01 |
| R-squared | 35.90 | 61.46 | 71.70 | 79.93 |
| Sharpe ratio | 0.58 | 0.59 | 0.10 | 0.41 |
| Sortino ratio | 0.90 | 0.93 | 0.14 | 0.58 |
| Tracking error | 11.56 | 9.84 | 9.42 | 7.76 |
| Information ratio | -0.42 | -0.97 | -1.02 | -0.89 |
| Upside capture % | 61.66 | 85.15 | 78.96 | 85.96 |
| Downside capture % | 44.29 | 146.27 | 117.24 | 114.42 |
Measured against S&P 500 (TR) (1970) with USTREAS T-Bill Auction Ave 3 Mon as the risk-free rate, to 30 SEP 2026. Maximum drawdown is on gross returns at the latest quarter end.
Portfolio risk score
Displays Morningstar's Portfolio Risk Score for the fund's holdings, how closely the ETF tracks its index day to day, the estimated cost of holding it against the index, the cost of trading it at market size, and its best and worst quarters since inception, sourced from Morningstar.
Risk score
76.8
Cash 0
Global shares 100
Morningstar Portfolio Risk Score at 30 SEP 2026.
Fees and costs
Displays the fund's ongoing costs as a percentage of assets per year: the PDS management fees and costs, performance fee and transaction costs that make up the total cost ratio (the RG 97 forward estimate, and what was charged last financial year), and the buy / sell spread, sourced from Morningstar.
- Management fees and costs
- 0.79% p.a.
- PDS dated
- 27 MAR 2026
Sustainability rating · 31 AUG 2026
Displays the Morningstar Sustainability Rating (1 to 5 globes, more is better) and the portfolio ESG risk score behind it (lower is less risk), against the average of the fund's global category, sourced from Morningstar and Sustainalytics.
Low
ESG risk score
21.12
Negligible
Low
Medium
High
Severe
Category average 20.40
- Rank in category
- 75th percentile of 1,800 funds
- Environmental risk
- 3.98
- Social risk
- 8.28
- Governance risk
- 4.70
- Portfolio covered
- 99.8%
ESG risk of holdings
Displays the share of the covered portfolio held in companies with negligible, low, medium, high and severe ESG risk, sourced from Morningstar and Sustainalytics.
- Negligible
- 0.00%
- Low
- 58.15%
- Medium
- 26.40%
- High
- 13.41%
- Severe
- 2.03%
9.95% of assets are in companies with high or severe controversies.
Carbon · 31 AUG 2026
Displays the portfolio carbon risk score (lower is less exposure to the transition to a low-carbon economy), the share of the portfolio in companies with fossil fuel revenue, and whether the fund earns Morningstar's Low Carbon Designation, sourced from Morningstar and Sustainalytics.
Carbon risk score
8.19
Low
Medium
High
Severe
Category average 10.33
- Carbon risk
- Low Risk
- Fossil fuel involvement
- 8.45%
- Category average
- 12.33%
- Low Carbon Designation
- No
- Portfolio covered
- 99.8%
Fund managers
Displays the people Morningstar lists as managers of the fund, sourced from Morningstar.
- Miguel Oleaga
- Neal BasuMullick
Tenure
Displays how long the managers have run the fund: the average and longest tenure, who has served longest, the latest appointment and how many other funds the team manages, sourced from Morningstar.
- Number of managers
- 2
- Average tenure
- 0.8 years
- Longest tenure
- 0.8 years
- Longest serving
- Miguel Oleaga, Neal BasuMullick · since 21 JAN 2026
- Most recent appointment
- Miguel Oleaga, Neal BasuMullick · since 21 JAN 2026
- Managed since
- 21 JAN 2026
- Other funds managed
- 4
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
Announcements are available for ASX-listed companies only.
Opinion
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