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      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_EquityRisksMember" xlink:label="thor_EquityRisksMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_EquityRisksMember_lbl" xml:lang="en-US">Equity Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_OptionsStrategyRiskMember" xlink:label="thor_OptionsStrategyRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_OptionsStrategyRiskMember" xlink:to="thor_OptionsStrategyRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_OptionsStrategyRiskMember_lbl" xml:lang="en-US">Options Strategy Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_ForeignInvestmentRiskMember" xlink:label="thor_ForeignInvestmentRiskMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_ForeignInvestmentRiskMember" xlink:to="thor_ForeignInvestmentRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_ForeignInvestmentRiskMember_lbl" xml:lang="en-US">Foreign Investment Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_ForeignCurrencyRiskMember_lbl" xml:lang="en-US">Foreign Currency Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_EmergingMarketsRiskMember" xlink:label="thor_EmergingMarketsRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_EmergingMarketsRiskMember_lbl" xml:lang="en-US">Emerging Markets Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_RisksOfInvestingInDepositaryReceiptsMember_lbl" xml:lang="en-US">Risks of Investing in Depositary Receipts [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_RealEstateRiskMember" xlink:label="thor_RealEstateRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_RealEstateRiskMember_lbl" xml:lang="en-US">Real Estate Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_DerivativesRiskMember" xlink:label="thor_DerivativesRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_DerivativesRiskMember_lbl" xml:lang="en-US">Derivatives Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_FocusedInvestmentRiskMember" xlink:label="thor_FocusedInvestmentRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_FocusedInvestmentRiskMember_lbl" xml:lang="en-US">Focused Investment Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_EquitylinkedNotesRiskMember" xlink:label="thor_EquitylinkedNotesRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_EquitylinkedNotesRiskMember_lbl" xml:lang="en-US">Equity-Linked Notes Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_RisksAffectingConvertibleDebtObligationsMember" xlink:label="thor_RisksAffectingConvertibleDebtObligationsMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_RisksAffectingConvertibleDebtObligationsMember_lbl" xml:lang="en-US">Risks Affecting Convertible Debt Obligations [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_RisksOfInvestingInUSGovernmentObligationsMember" xlink:label="thor_RisksOfInvestingInUSGovernmentObligationsMember" />
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      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_RisksOfDebtIssuedByForeignGovernmentsMember" xlink:label="thor_RisksOfDebtIssuedByForeignGovernmentsMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_PrepaymentAndExtensionRiskMember_lbl" xml:lang="en-US">Prepayment and Extension Risk [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_RisksAffectingMortgagebackedSecuritiesAndOtherAssetbackedSecuritiesMember" xlink:label="thor_RisksAffectingMortgagebackedSecuritiesAndOtherAssetbackedSecuritiesMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_RisksAffectingMortgagebackedSecuritiesAndOtherAssetbackedSecuritiesMember_lbl" xml:lang="en-US">Risks Affecting Mortgage-Backed Securities and Other Asset-Backed Securities [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="thor-20260522.xsd#thor_BusinessDevelopmentCompanyBDCRiskMember" xlink:label="thor_BusinessDevelopmentCompanyBDCRiskMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_BusinessDevelopmentCompanyBDCRiskMember_lbl" xml:lang="en-US">Business Development Company ("BDC") Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_MarketAndEconomicRiskMember_lbl" xml:lang="en-US">Market and Economic Risk [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_RisksAffectingSpecificCountriesOrRegionsMember_lbl" xml:lang="en-US">Risks Affecting Specific Countries or Regions [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_RisksAffectingSpecificIssuersMember_lbl" xml:lang="en-US">Risks Affecting Specific Issuers [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_LiquidityRiskMember_lbl" xml:lang="en-US">Liquidity Risk [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_CybersecurityAndOperationalRiskMember" xlink:to="thor_CybersecurityAndOperationalRiskMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_CybersecurityAndOperationalRiskMember_lbl" xml:lang="en-US">Cybersecurity and Operational Risk [Member]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_C000275711Member" xlink:to="thor_C000275711Member_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="thor_C000275711Member_lbl" xml:lang="en-US">Thornburg Premium Income Builder ETF [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_S000105007Member" xlink:to="thor_S000105007Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="thor_S000105007Member_doc" xml:lang="en-US">Thornburg Premium Income Builder ETF</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_C000275711Member" xlink:to="thor_C000275711Member_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="thor_C000275711Member_doc" xml:lang="en-US">Thornburg Premium Income Builder ETF [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_CybersecurityAndOperationalRiskMember" xlink:to="thor_CybersecurityAndOperationalRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="thor_CybersecurityAndOperationalRiskMember_doc" xml:lang="en-US">Cybersecurity and Operational Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_LiquidityRiskMember" xlink:to="thor_LiquidityRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="thor_LiquidityRiskMember_doc" xml:lang="en-US">Liquidity Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_RisksAffectingSpecificIssuersMember" xlink:to="thor_RisksAffectingSpecificIssuersMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="thor_RisksAffectingSpecificIssuersMember_doc" xml:lang="en-US">Risks Affecting Specific Issuers.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_RisksAffectingSpecificCountriesOrRegionsMember" xlink:to="thor_RisksAffectingSpecificCountriesOrRegionsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="thor_RisksAffectingSpecificCountriesOrRegionsMember_doc" xml:lang="en-US">Risks Affecting Specific Countries or Regions.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_MarketAndEconomicRiskMember" xlink:to="thor_MarketAndEconomicRiskMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="thor_MarketAndEconomicRiskMember_doc" xml:lang="en-US">Market and Economic Risk.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="thor_BusinessDevelopmentCompanyBDCRiskMember" xlink:to="thor_BusinessDevelopmentCompanyBDCRiskMember_doc" xlink:type="arc" />
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