TFGZ vs SPY
Comparison between THORNBURG FOCUS GROWTH FUND ETF CLASS (TFGZ, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
TFGZ vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
TFGZ
$238M
Winner
SPY
$781B
Expense Ratio
TFGZ
0.79%
Winner
SPY
0.09%
Max Drawdown
Winner
TFGZ
5.24%
SPY
56.47%
Sharpe Ratio
Winner
TFGZ
2.79
SPY
1.25
5Y Beta
TFGZ
1.19
Winner
SPY
1.00
P/E Ratio
TFGZ
39.85
Winner
SPY
28.78
Forward P/E
TFGZ
24.63
Winner
SPY
21.23
5Y Dividends CAGR
TFGZ
N/A
SPY
6.00%
5Y EPS CAGR
TFGZ
22.75%
Winner
SPY
25.62%
Debt to Equity
TFGZ
52.07%
Winner
SPY
31.92%
P/S Ratio
TFGZ
6.33
Winner
SPY
3.76
P/B Ratio
TFGZ
7.62
Winner
SPY
5.64
TFGZ vs SPY - Holdings Comparison
TFGZ and SPY have 16 common holdings. Overlap is 15.41%
TFGZ's top 25 holdings weight is 81.03%. SPY's top 25 holdings weight is 51.74%.
| Rank | TFGZ | SPY |
|---|---|---|
| #1 | MICROSOFT CORP (MSFT) - 9.92% | NVIDIA CORP (NVDA) - 7.89% |
| #2 | ALPHABET INC CLASS A (GOOGL) - 7.45% | APPLE INC (AAPL) - 7.37% |
| #3 | BROADCOM INC (AVGO) - 6.94% | MICROSOFT CORP (MSFT) - 4.50% |
| #4 | CREDO TECHNOLOGY GROUP HOLDING LTD (CRDO) - 4.77% | AMAZON.COM INC (AMZN) - 3.82% |
| #5 | META PLATFORMS INC CLASS A (META) - 4.76% | ALPHABET INC CLASS A (GOOGL) - 3.33% |
| #6 | MASTERCARD INC CLASS A (MA) - 3.30% | BROADCOM INC (AVGO) - 2.86% |
| #7 | ROYALTY PHARMA PLC CLASS A (RPRX) - 2.89% | ALPHABET INC CLASS C (GOOG) - 2.68% |
| #8 | THORNBURG CAPITAL MANAGEMENT (n/a) - 2.87% | META PLATFORMS INC CLASS A (META) - 2.29% |
| #9 | SITIME CORP ORDINARY SHARES (SITM) - 2.81% | TESLA INC (TSLA) - 1.70% |
| #10 | ARGAN INC (AGX) - 2.76% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | VERTIV HOLDINGS CO CLASS A (VRT) - 2.68% | JPMORGAN CHASE & CO (JPM) - 1.42% |
| #12 | HEICO CORP CLASS A (HEI-A) - 2.64% | ELI LILLY AND CO (LLY) - 1.40% |
| #13 | REDDIT INC CLASS A SHARES (RDDT) - 2.54% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #14 | S&P GLOBAL INC (SPGI) - 2.52% | ADVANCED MICRO DEVICES INC (AMD) - 1.32% |
| #15 | DATADOG INC CLASS A (DDOG) - 2.50% | EXXONMOBIL HOLDINGS CORP (XOM) - 0.92% |
| #16 | REPLIGEN CORP (RGEN) - 2.29% | JOHNSON & JOHNSON (JNJ) - 0.91% |
| #17 | VICTORIA'S SECRET & CO (VSXY) - 2.25% | VISA INC CLASS A (V) - 0.90% |
| #18 | STANDARDAERO INC (SARO) - 2.11% | WALMART INC (WMT) - 0.76% |
| #19 | LAM RESEARCH CORP (LRCX) - 2.09% | INTEL CORP (INTC) - 0.75% |
| #20 | TALEN ENERGY CORP ORDINARY SHARES NEW (TLN) - 2.01% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #21 | MAREX GROUP PLC (MRX) - 1.99% | CISCO SYSTEMS INC (CSCO) - 0.68% |
| #22 | SAMSARA INC ORDINARY SHARES CLASS A (IOT) - 1.89% | MASTERCARD INC CLASS A (MA) - 0.66% |
| #23 | TAPESTRY INC (TPR) - 1.83% | ABBVIE INC (ABBV) - 0.66% |
| #24 | ACADIAN ASSET MANAGEMENT INC (AAMI) - 1.70% | CATERPILLAR INC (CAT) - 0.65% |
| #25 | THE VITA COCO CO INC (COCO) - 1.52% | LAM RESEARCH CORP (LRCX) - 0.64% |
| Total Holdings | 44 | 505 |
TFGZ vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
TFGZ
-1.27%
Winner
SPY
+0.52%
3M
TFGZ
+5.09%
Winner
SPY
+6.55%
6M
TFGZ
N/A
SPY
+9.76%
1Y
TFGZ
N/A
SPY
+20.32%
5Y(CAGR)
TFGZ
N/A
SPY
+13.01%
10Y(CAGR)
TFGZ
N/A
SPY
+15.06%
Max(CAGR)
Winner
TFGZ
+69.21%
SPY
+8.50%
TFGZ vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | TFGZ | SPY |
|---|---|---|
| 2026 | +17.33% | +10.11% |
| 2025 | N/A | +18.00% |
| 2024 | N/A | +25.59% |
| 2023 | N/A | +26.72% |
| 2022 | N/A | -18.64% |
| 2021 | N/A | +30.52% |
| 2020 | N/A | +17.28% |
| 2019 | N/A | +31.09% |
| 2018 | N/A | -5.24% |
| 2017 | N/A | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
TFGZ vs SPY Drawdown Comparison
The maximum drawdown for TFGZ was -5.24%, occurring on Jun 10, 2026. Recovery took 22 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current TFGZ drawdown is -2.80%. The current SPY drawdown is -1.24%.
| Rank | TFGZ | SPY |
|---|---|---|
| #1 | -5.24% Jun 2, 2026 - Jul 6, 2026 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -4.12% Jul 9, 2026 - Jul 17, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -3.75% May 11, 2026 - May 26, 2026 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -2.14% Apr 22, 2026 - May 1, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -1.50% Jul 6, 2026 - Jul 9, 2026 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -0.53% Apr 20, 2026 - Apr 22, 2026 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -0.47% Apr 8, 2026 - Apr 13, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -0.16% May 26, 2026 - May 28, 2026 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -0.14% May 6, 2026 - May 8, 2026 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | N/A | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | N/A | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | N/A | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | N/A | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | N/A | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | N/A | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between TFGZ and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.
0.96
-101
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