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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.

Buy with a financial professional

  • 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.
Not quite ready?

We want you to invest your money wisely and with confidence.
Here are some other options that may help you.

  • Take our quiz to determine your personal investment style.
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Need more help?

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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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Thrivent Government Bond Fund —
Class S
TBFIX
Thrivent Government Bond Fund
Class
Morningstar Rating
Intermediate Government
Rating 4
Overall among 215 funds as of
04/30/2024
Morningstar ratings are calculated based on risk-adjusted return.
Risk profile
The risk profile for this fund is Moderately Conservative

Morningstar Fixed Income Style Box

Interest Rate Sensitivity:
Moderate
Credit Quality:
High
 
Inception date
2/26/2010
As of
Net asset value
-
Daily NAV change
-
As of N/A
YTD return
-3.22%
1-year return
-2.09%
As of 04/30/2024
Net annual fund operating expenses
0.52%
As of
Sales charge
None
As of

Thrivent Government Bond Fund seeks total return, consistent with preservation of capital.

This Fund invests primarily in U.S. government bonds, which may include debt instruments issued or guaranteed by the U.S. government and its agencies or instrumentalities. This includes U.S. Treasuries, Treasury Inflation Protected Securities (TIPS), U.S. government agency debt, and mortgage-backed securities that are issued or guaranteed by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). The Fund may hold securities of any maturity. Government bonds have a low correlation to equities and may outperform stocks and corporate bonds when these markets are declining and investors tend to become more risk averse. As a result, an allocation to government bonds may help diversify an investor’s overall portfolio. The Fund may also utilize derivatives to manage the Fund’s duration or interest rate risk.

The Fund may be suitable for investors who:

  • Seek income and total return, consistent with preservation of capital
  • Have a medium to long-term investment time horizon and a moderately conservative risk tolerance
  • Are willing to accept lower long-term returns in order to have a low to moderate level of risk and volatility
Fund management

Our seasoned team of more than 140 investment professionals brings their deep expertise to managing each fund so you can feel confident in the choices you’re making. More than 80% have at least 10 years of experience, more than 50% have more than 20 years of investment experience, and more than 80% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

  • Jon-Paul (JP) Gagne
    Jon-Paul (JP) Gagne
    Senior Portfolio Manager
    Managing this fund since 2022

    Mr. Gagne joined Thrivent in 2018 serving as a senior research analyst and trader covering securitized assets. He became a portfolio manager in 2021. Read more.

  • Kent L. White, CFA
    Kent L. White, CFA
    VP, Fixed Income Mutual Funds
    Managing this fund since 2023

    Mr. White is currently a Senior Portfolio Manager at Thrivent and was previously the Director of Investment Grade Research. He has been with the firm since 1999. Read more.


Performance

All data represents past performance. Past performance does not guarantee future results. Investment return and principal value of the investment will fluctuate so that an investor’s shares, when redeemed may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted.


Average Annualized Returns

as of 04/30/2024
0.52% Net annual fund operating expenses
0.70% Total annual fund operating expenses
Thrivent Government Bond Fund Bloomberg U.S. Agency Index Bloomberg U.S. Treasury Index Morningstar Intermediate Government Avg
3M -3.20% -1.19% -2.99% -3.02%
YTD -3.22% -0.90% -3.26% -3.14%
1Y -2.09% 1.63% -2.80% -2.09%
3Y -3.13% -1.40% -3.73% -3.82%
5Y -0.25% 0.76% -0.50% -0.78%
10Y 0.83% 1.34% 0.74% 0.41%

The Adviser has contractually agreed, for a period of one year from the date of the most recent prospectus, to waive certain fees and/or reimburse certain expenses associated with the Fund. Refer to the Fees & Expenses table in the Fund’s prospectus. If this waiver had not been in effect, performance would have been lower.

See data by:

Yields

as of 04/30/2024
12 Month Distribution
3.78%
30 Day SEC
4.33%
30 Day SEC Pre-Waiver
3.62%
Monthly Distribution
3.96%

Growth of 10K

as of 04/30/2024
$10,858
Total market value
$2,289
Current value of reinvested dividends and capital gains

Calendar year performance

as of 04/30/2024

Characteristics

All data represents past performance. Past performance does not guarantee future results. Investment return and principal value of the investment will fluctuate so that an investor’s shares, when redeemed may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted.


Holdings breakdown

as of 04/30/2024
Total number of holdings
56
Turnover ratio (as of 03/28/2024)
353%

Top 10 Holdings

as of 03/28/2024
56.32%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
U.S. Treasury Notes 15.03% 09/30/2029 3.88%
U.S. Treasury Notes 12.69% 04/15/2026 3.75%
U.S. Treasury Notes 6.44% 11/15/2033 4.50%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 5.61% 12/01/2052 4.50%
U.S. Treasury Bonds 4.28% 08/15/2050 1.38%
Federal Home Loan Bank 2.92% 03/10/2043 5.90%
Federal National Mortgage Association Conventional 10-Yr. Pass Through 2.69% 03/01/2033 2.00%
Federal National Mortgage Association Conventional 40-Yr. Pass Through 2.29% 03/01/2062 2.50%
Federal Home Loan Mortgage Corporation - REMIC 2.24% 08/25/2052 4.00%
Helios Issuer, LLC 2.13% 12/20/2050 5.75%

Fund Diversification

as of 03/28/2024
N/A
N/A
  • Securitized Debt
    56.14%
  • U.S. Government Bonds
    43.09%
  • Cash
    .76%


Fixed Income characteristics

as of 04/30/2024
Duration Average Life
Thrivent Government Bond Fund 5.94 8.15
Bloomberg U.S. Aggregate Bond Index 6.02 8.57

Credit quality rating distribution

as of 04/30/2024
N/A
N/A
Bond type
% of total
  • High Quality (HQ) Bonds
    95.03%
  • U.S. Government Guaranteed
    89.77%
  • AAA
    0.48%
  • AA
    4.78%
  • A
    0.00%
  • BBB
    0.00%
Bond type
% of total
  • High Yield (HY) Bonds
    0.00%
  • BB
    0.00%
  • B
    0.00%
  • CCC
    0.00%
  • CC
    0.00%
  • C
    0.00%
  • D
    0.00%
  • Non-Rated (NR) Bonds
    4.97%
  • May be HQ/HY/NR Bonds
    0.00%
  • ETFs/Closed-End Funds
    0.00%

Ratings

Morningstar

as of 04/30/2024
Category: Intermediate Government
Morningstar Information
Check out our funds that received 4- or 5-Star Overall Morningstar RatingTM
Funds in category
Overall
4 out of five stars
215
funds in category
3-Year
4 out of five stars
215
funds in category
5-Year
4 out of five stars
205
funds in category
10-Year
4 out of five stars
166
funds in category
Risk vs. category
Average
215
funds in category
Return vs. category
Above Average
215
funds in category

Morningstar ratings are calculated based on risk-adjusted return.

Fixed income style box
fixed income style is moderate sensitivity and high quality
Limited
Moderate
Extensive
SENSITIVITY

Distributions

as of 04/30/2024
Dividends Month End Nav
May 2023 $0.0246 $8.91
June 2023 $0.0246 $8.81
July 2023 $0.0254 $8.76
August 2023 $0.0260 $8.68
September 2023 $0.0263 $8.44
October 2023 $0.0275 $8.27
November 2023 $0.0272 $8.61
December 2023 $0.0256 $8.90
January 2024 $0.0284 $8.87
February 2024 $0.0268 $8.71
March 2024 $0.0300 $8.74
April 2024 $0.0301 $8.50

Trailing 12-Months; Dividend Schedule: Declared Daily, Paid Monthly


Capital gains - trailing 12 months

as of 04/30/2024
Record date Short term capital gains Long term capital gains Total
- - - -

Expenses, fees, and charges

Management Fees and Other Expenses 0.70%
Distribution/12b-1 Fee None
Total Annual Fund Operating Expenses 0.70%
Less Waiver (0.18%)
Net Annual Fund Operating Expenses 0.52%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 semiannually
Front-End Sales Charge None
Back-End Sales Charge None

The Adviser has contractually agreed, for a period of one year from the date of the most recent prospectus, to waive certain fees and/or reimburse certain expenses associated with the Fund. Refer to the Fees & Expenses table in the Fund’s prospectus. If this waiver had not been in effect, performance would have been lower.


Minimum investment

Initial for non-retirement accounts $2,000
Initial for retirement or tax deferred accounts $1,000
Additional Purchases $50
Initial minimums are waived when a recurring investment of $50 or more is set up

Documents

Title Download View
Prospectus & Fund Documents -
Fund Facts -
Fund Commentary -
Schedule of Investments -
Annual Proxy Voting -

Due to rounding, some values may not total 100%.

Strategy

The portfolio management team uses fundamental and other investment research techniques to determine which debt obligations to buy and sell. The portfolio managers are responsible for portfolio construction and risk management, and use duration and yield curve management strategies in an effort to increase total return potential and manage risk.

Risk

U.S. government securities may not be fully guaranteed by the U.S government and issues may not have the funds to meet their payment obligations. The value of U.S. government securities may be affected by changes in credit ratings, which may be negatively impacted by rising national debt. The value of mortgage-related and other asset-backed securities will be influenced by the factors affecting the housing market and the assets underlying such securities. Debt securities are subject to risks such as declining prices during periods of rising interest rates. The use of derivatives (such as futures) involves additional risks and transaction costs. Inflation-linked debt securities, such as TIPS, are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). The Adviser's assessment of investments may prove incorrect, resulting in losses or poor performance. When bond inventories are low in relation to the market size, there is the potential for decreased liquidity and increased price volatility. The Fund’s value is influenced by the performance of the broader market. The Fund may engage in active and frequent trading of portfolio securities, which may result in higher transaction costs and higher taxes. In unusual circumstances, the Fund could experience a loss when selling portfolio securities to meet redemption requests for a variety of reasons. Sovereign debt securities are subject to additional risks. These and other risks are described in the prospectus.

Individual Investors


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