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MUTUAL FUNDS

Thrivent Account

You can purchase mutual funds right on our site with an online account.

Buy with a Thrivent account

  • Set up an account starting with as little as $50 per month.1
  • Access your online account at your convenience.
  • Purchase funds without transaction fees or sales charges.

MUTUAL FUNDS & ETFS

Financial Professional

For guidance when investing, ask a financial professional about buying Thrivent mutual funds & ETFs.

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  • Receive investment help from an experienced professional.
  • Build a relationship through in-person meetings.
  • Get help planning for life’s goals such as saving and retirement.
  • Additional fees may apply.

MUTUAL FUNDS & ETFS

Brokerage Account

If you already have a brokerage account, our mutual funds & ETFs can be purchased through online brokerage platforms by searching for Thrivent Mutual Funds and ETFs.

Buy with a brokerage account

  • Add Thrivent Mutual Funds and ETFs to your investments within your existing portfolio.
  • Take advantage of your account to keep your investments in one place.
  • Additional fees may apply.
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Here are some other options that may help you.

  • Take our quiz to determine your personal investment style.
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This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:

 - You may have to pay more money to trade the ETF’s shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.

 - The price you pay to buy ETF shares on an exchange may not match the value of the ETF’s portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.

 - These additional risks may be even greater in bad or uncertain market conditions.

 - The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio.

The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF’s performance. If other traders are able to copy or predict the ETF’s investment strategy, however, this may hurt the ETF’s performance. For additional information regarding the unique attributes and risks of the ETF, see the Principal Risks section of the prospectus.

1 New accounts with a minimum investment amount of $50 are offered through the Thrivent Mutual Funds "automatic purchase plan." Otherwise, the minimum initial investment requirement is $2,000 for non-retirement accounts and $1,000 for IRA or tax-deferred accounts, minimum subsequent investment requirement is $50 for all account types. Account minimums for other options vary.

Thrivent ETFs may be purchased through your financial professional or brokerage platforms.

Contact your financial professional or brokerage firm to understand minimum investment amounts when purchasing a Thrivent ETF.

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MUTUAL FUND FOCUS

What’s driving growth in the mid-cap market?

03/26/2024


Key points

In the investing middle

Mid-cap stocks tend to offer investors long-term growth potential with a bit more stability than many of the stocks of the small-cap universe.

Mid-cap risks

Active management can help in controlling risk.


For investors, the mid-cap sector can get lost in the shuffle between the alluring promise of small-cap stocks and the familiar market leaders of the large-cap sector.

But the mid-cap market—which encompasses stocks in the range of about $7 billion to $35 billion in market cap—offers a world of opportunity for investors looking for long-term growth potential with a bit more stability than many of the stocks of the small-cap universe.

“The mid-cap market offers more established business models, more established management teams, and a little less risk versus small-cap stocks,” explained Brian Flanagan, senior portfolio manager of Thrivent Mid Cap Stock Fund (TMSIX). “And it typically offers better growth opportunities versus large-cap stocks.”

While the large-cap sector led the way in terms of performance during the recent bull market—particularly the technology area—Flanagan points out that “over the long-term, mid-caps have traditionally offered better growth than the large-caps.”


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What’s behind the Thrivent Mid Cap Stock Fund’s industry-leading performance?

Flanagan attributes much of the success of the Fund to three key factors—people, process and patience.

“Thrivent Asset Management has an outstanding investment division with experience through many different market cycles and dynamics across industries,” said Flanagan. “The Fund management team has the support of a deep fundamental and quantitative research team with an average of more than 20 years of experience.”

The team’s investment process focuses on adding value by investing in attractive companies at good valuations while controlling risk. “It begins with a quantitative screening process that identifies attractive companies that we should do fundamental research on,” added Flanagan. That research revolves around three main areas:

  1. Operating performance. “We’re looking for companies that can maintain a high return on invested capital or improve their return on invested capital through revenue growth, operating efficiencies and capital management.”
  2. Valuation. The team determines an underlying value for each company in the portfolio through fundamental research—such as discounted cash flow analysis, free cash flow yield analysis and the comparative analysis of the stock’s relative or normalized earnings multiple to the market (depending on the sector).
  3. Market sentiment. “We try to identify how our thesis on a company is different than the market’s. Some of the factors that we analyze are insider transactions and valuation spreads across the industries.”

Patience is another key element of the overall strategy and, according to Flanagan, “probably the most important piece and maybe the hardest piece.” He added: “Underlying volatility in the market can cross up your rational decisions, which is why we need to be able to have patience with our process. That’s why we’re very fortunate to have a management team, board of directors and shareholders who have the confidence in our process and our people to achieve that consistent long-term performance.”

Sell strategy

The Fund considers several factors in weighing when to sell or reduce a position:

  • When a company’s fundamental characteristics deviate from the team’s thesis.
  • When the stock price exceeds the underlying value that the team has set for the company.
  • When the team needs to control risk by selling or reducing positions to rebalance the portfolio.
  • When the team finds a better opportunity elsewhere. “That’s probably the least likely scenario,” said Flanagan, “but it happens.”

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A skeptic’s eye helps drive performance for Thrivent Mid Cap Value Fund

Deep proprietary research helped Thrivent Mid Cap Value Fund Manager Graham Wong manage both ups and downs of the first four years of the fund’s inception in March 2020.

Active & passive fund management: What’s the difference?

Beyond the types of investments they hold, mutual funds also can be categorized based on their fund manager’s investment style—active management or passive management.

Risks of the mid-cap market

As with most investments, mid-cap stocks carry significant risks, such as macro risks, company risks and competitive risks, according to Flanagan. “However, we typically see the most opportunity when valuation spreads are wide, investors are bearish and the risks seem high. With a solid process, smart people and patience, those environments can offer significant opportunity to create long-term wealth.”

Active management can help in controlling risk, according to Flanagan. “Active management may have an advantage when stock correlations are low across the market and in an environment where more domestic assets are invested in passive index funds and ETFs. Currently, over 60% of domestic assets are invested in passive funds versus approximately 35% a decade ago.”

Stocks that are not in an index may fly under the radar, providing opportunities for active managers to buy those stocks at a good value relative to the market. “As correlations come down, and passive investments go up, that provides more opportunity for active managers,” Flannigan said.

Opportunities in the mid-cap market

Policies being advocated by the current U.S. administration and other administrations around the world, such as infrastructure, renewable energy and electric vehicles continue to gain prevalence. Flanagan believes that should help boost the cyclical industries, such as industrials and materials, which have a strong presence in the mid-cap universe.

As the economy and the markets evolve, Flanagan believes the key to continued success is adaptability. “Change is constant. Through my career, the economic and investing landscape has constantly changed. When I was managing a tech fund in the 1990s, I thought I would never see anything crazier than that, and then the financial crisis happened, followed by a pandemic.

“So, what I’ve learned is that we have to be prepared for everything. We have to be constantly studying and learning, improving our skills, and adapting our strategy when necessary, in order to continue to potentially provide consistent, long-term returns.”

See more on Thrivent mid Cap Stock Fund

 

 

Past performance is not necessarily indicative of future results.

All information and representations herein are as of 03/19/2024, unless otherwise noted.

The views expressed are as of the date given, may change as market or other conditions change, and may differ from views expressed by other Thrivent Asset Management, LLC associates. Actual investment decisions made by Thrivent Asset Management, LLC will not necessarily reflect the views expressed. This information should not be considered investment advice or a recommendation of any particular security, strategy or product. Investment decisions should always be made based on an investor's specific financial needs, objectives, goals, time horizon, and risk tolerance.

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