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Fixed Income Funds

Thrivent High Yield Fund(LBHYX)

You own shares of this fund

Class
Mutual Funds may offer different "classes" of shares. Classes indicate the type and number of fees or expenses an investor can expect to pay for shares in a fund.

Class S
These are no-load funds, meaning there are no front-end or back-end sales charges to purchase or sell shares.  Prior to Feb 1, 2016, Class S shares were named Institutional Shares.

Class A
These are front-end load funds. These mutual funds are not currently available to new shareholders. Current shareholders who have purchased Class A shares need to work with a Thrivent Financial Representative or service their mutual fund accounts on Thrivent.com. 

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Class
Mutual Funds may offer different "classes" of shares. Classes indicate the type and number of fees or expenses an investor can expect to pay for shares in a fund.

Class S
These are no-load funds, meaning there are no front-end or back-end sales charges to purchase or sell shares.  Prior to Feb 1, 2016, Class S shares were named Institutional Shares.

Class A
These are front-end load funds. These mutual funds are not currently available to new shareholders. Current shareholders who have purchased Class A shares need to work with a Thrivent Financial Representative or service their mutual fund accounts on Thrivent.com. 

Growth of $10,000

(as of 10/31/2016)

A look at this fund’s performance over the past 10 years or since the fund's inception (if less than 10 years), based on how an initial $10,000 investment would have changed over time. Performance shown assumes the reinvestment of all dividends and capital gains but does not reflect the Fund’s sales charge. If the sales charge would be included, returns would have been lower. Performance of other share classes will vary from the results shown based on differences in fees and expenses.

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(as of 10/31/2016)

A look at this fund’s performance over the past 10 years or since the fund's inception (if less than 10 years), based on how an initial $10,000 investment would have changed over time. Performance shown assumes the reinvestment of all dividends and capital gains but does not reflect the Fund’s sales charge. If the sales charge would be included, returns would have been lower. Performance of other share classes will vary from the results shown based on differences in fees and expenses.

Growth of $10,000
Year Value
2006 10,266.4
2007 10,512.08
2008 8,234.55
2009 11,681.93
2010 13,315.8
2011 13,892.9
2012 16,089.01
2013 17,142.33
2014 17,405.2
2015 16,864.36

Risk Potential

Risk Potential
The potential for risk within the Thrivent Mutual Funds has been categorized into five levels: Conservative, Moderately Conservative, Moderate, Moderately Aggressive, and Aggressive, ranging from lower risk potential to higher risk potential. Funds on the lower risk portion of the scale (Conservative, Moderately Conservative) are expected to have a lower degree of volatility and price fluctuations while those on the higher risk portion of the scale (Aggressive, Moderately Aggressive) are expected to have a higher degree of volatility and price fluctuations.

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Risk Potential
The potential for risk within the Thrivent Mutual Funds has been categorized into five levels: Conservative, Moderately Conservative, Moderate, Moderately Aggressive, and Aggressive, ranging from lower risk potential to higher risk potential. Funds on the lower risk portion of the scale (Conservative, Moderately Conservative) are expected to have a lower degree of volatility and price fluctuations while those on the higher risk portion of the scale (Aggressive, Moderately Aggressive) are expected to have a higher degree of volatility and price fluctuations.

Moderate

Morningstar Fixed Income Style Box

Thrivent High Yield Fund appeared as a low credit quality, moderate interest rate sensitivity fund on the Morningstar Style Box™ at 08/31/2016.

Learn more

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Thrivent High Yield Fund appeared as a low credit quality, moderate interest rate sensitivity fund on the Morningstar Style Box™ at 08/31/2016.

Learn more

Interest Rate Sensitivity: Moderate
Credit Quality: Low

Fund Highlights

Public Offering Price 
The price at which the fund is offered to the public.

Net Asset Value
The NAV is the fund’s value or price per share. The NAV is calculated by dividing the market value of all the fund’s shares (minus its liabilities) by the number of issued shares..

Daily NAV Change
The daily NAV change is the difference between the fund’s current price per share and its price at the time of market close on the prior day. 

Returns
Returns are calculated on a calendar-year and year-to-date basis. The total return includes both the fund’s increase in value and dividends. 

Net Annual Fund Operating Expenses 
This is an annual fee charged to investors based on the percentage of assets used for fund expenses. These expenses may include 12b-1 fees, management costs, administrative fees, and other operating costs.  Please see the Fees & Expenses for more information.

Sales Charges
The commission paid by an investor upon investment in a fund.

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Public Offering Price 
The price at which the fund is offered to the public.

Net Asset Value
The NAV is the fund’s value or price per share. The NAV is calculated by dividing the market value of all the fund’s shares (minus its liabilities) by the number of issued shares..

Daily NAV Change
The daily NAV change is the difference between the fund’s current price per share and its price at the time of market close on the prior day. 

Returns
Returns are calculated on a calendar-year and year-to-date basis. The total return includes both the fund’s increase in value and dividends. 

Net Annual Fund Operating Expenses 
This is an annual fee charged to investors based on the percentage of assets used for fund expenses. These expenses may include 12b-1 fees, management costs, administrative fees, and other operating costs.  Please see the Fees & Expenses for more information.

Sales Charges
The commission paid by an investor upon investment in a fund.

( as of )

Public Offering Price
N/A

Net Asset Value

Daily NAV Change
N/A

( as of 10/31/2016 )

Year to Date Return with Sales Charge
5.95%

1 Year Return with Sales Charge
1.35%
Net Annual Fund Operating Expenses
0.81%

Max Sales Charge
4.50%

Fund Overview

Thrivent High Yield Fund seeks high current income, and secondarily growth of capital.

This fund invests primarily in corporate bonds that are either unrated or rated as “below investment-grade,” or "junk bonds." Credit rating agencies evaluate bond issuers and assign ratings based on their ability to pay interest and repay principal as scheduled. Bond issuers that are considered to have a greater risk of defaulting on payments pay higher interest rates to compensate investors for the additional risk. The fund is managed as a “core” high yield fund that emphasizes bonds in the middle of the high yield credit quality spectrum. The high yield sector may provide portfolio diversification benefits because it has a low correlation to other sectors of the fixed income market and less sensitivity to interest rate risk, but are more risky than investment-grade bonds.

The portfolio management team seeks to add value through security selection and active management, and monitors risk in an effort to build a well-diversified portfolio. The team uses fundamental, quantitative and technical investment research techniques to determine which securities to buy and sell. Through careful credit research, the team strives to identify U.S. companies that will have adequate cash flows to meet their principal and interest obligations. The team also considers the macro-economic environment and performs an ongoing assessment of relative value and risk. Based on this market outlook, the fund may take overweight and underweight positions in various industries and may reallocate across the higher and lower-quality segments of the high yield market.

The Fund primarily invests in high-yield, high-risk bonds, notes, debentures and other debt obligations, or preferred stocks. Credit risk is the risk that an issuer of a debt security may not pay its debt, and high yield securities are subject to increased credit risk as well as liquidity risk. Bond prices generally fall as interest rates rise. Leveraged loans are subject to numerous risks, including liquidity, credit, declines in the value of collateral underlying them, and detrimental legal actions against them. The value of the Fund is influenced by factors impacting the overall market, certain asset classes, certain investment styles, and specific issuers. The Fund may incur losses due to incorrect assessments of investments by its investment advisor. Foreign investments involve additional risks, including currency fluctuations, liquidity, political, economic and market instability, and different legal and accounting standards. Dealer inventories of bonds are at or near historic lows in relation to market size, which has the potential to decrease liquidity and increase price volatility in the fixed income markets.

Class A accounts are serviced via Thrivent.com

Who Should Consider Investing?

The Fund may be suitable for investors who:

  • Seek a high level of income
  • Have a medium to long-term investment time horizon and a moderate risk tolerance
  • Are comfortable with a higher level of risk and volatility compared to other bond funds

Our seasoned team of more than 100 investment professionals brings their deep expertise to managing each fund so you can feel confident in the choices you’re making. More than 85% have at least 10 years of experience, nearly half have more than 20 years of investment experience, and 85% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

Fund Details