Class
Mutual funds may offer different "classes" of shares. Classes indicate the type and number of fees or expenses a shareholder can expect to pay for shares of a fund.
Class S
No-load share class with no sales charges or 12b-1 fees. Prior to February 1, 2016, Class S shares were named Class I (Institutional) shares.
Class A
Front-end load share class with a maximum sales charge of 4.50%. This share class is not available through thriventfunds.com but shareholders may be eligible to purchase these shares through a financial professional.
Risk Profile
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.
Morningstar Rating
If shown, the Morningstar star rating is a rating given to mutual funds (and other managed products) by the investment research firm Morningstar. The ratings range from one to five stars, with one being the poorest and five being the best. The ratings are a snap shot of risk-adjusted performance at a point in time and should not be the only thing considered when making a fund selection.
For more information on the Fixed-Income style box, see the Rating section.
Thrivent Income Fund appeared as a medium credit quality, moderate interest rate sensitivity fund on the Morningstar Style Box™ as of 02/28/2022.
The Morningstar Style Box™ reveals a fund’s investment strategy. For fixed-income funds, the vertical axis of the Fixed Income Style Boxes shows the credit quality of the bonds owned (high, medium, or low) and the horizontal axis shows interest rate sensitivity (limited, moderate, or extensive) as measured by a bond’s effective duration.
Thrivent Income Fund appeared as a medium credit quality, moderate interest rate sensitivity fund on the Morningstar Style Box™ as of 02/28/2022.
The Morningstar Style Box™ reveals a fund’s investment strategy. For fixed-income funds, the vertical axis of the Fixed Income Style Boxes shows the credit quality of the bonds owned (high, medium, or low) and the horizontal axis shows interest rate sensitivity (limited, moderate, or extensive) as measured by a bond’s effective duration.
Net Asset Value (NAV)
The NAV is a fund’s value or price per share. The NAV is calculated by dividing the market value of all a fund’s shares (minus its liabilities) by the number of issued shares.
Daily NAV Change
The daily NAV change is the difference between a 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 year-to-date and trailing 12-month basis. These returns, also known as trailing returns, illustrate a fund's performance over a specific time period, including capital appreciation as well as reinvested dividends and capital gains distributions.
Net Annual Fund Operating Expenses
This figure represents the total percentage of a mutual fund’s assets used to maintain a fund, including operating expenses and management fees. It’s calculated by dividing a fund’s annual net operating expenses by the average dollar value of its assets, and includes the impact of any fee waivers or expense reimbursements that may have been in effect during the time period.
Sales Charges
The commission paid by an investor upon investment in a fund.
Thrivent Income Fund seeks high current income while preserving principal and, secondarily, to obtain long-term growth of capital in order to maintain investors’ purchasing power.
This fund invests primarily in investment-grade corporate bonds, government bonds, asset-backed securities, and mortgage-backed securities. The Fund may also invest a portion of its assets in high yield bonds, leveraged loans and preferred stock, and may opportunistically invest in foreign issuers (including emerging market issuers), non-agency mortgage-backed securities and commercial mortgage- backed securities. The Fund typically has its largest allocation in BBB-rated bonds, which are the lowest-tier of investment grade bonds. The Fund uses derivatives in order to manage the Fund’s duration, or interest rate risk.
The Fund may be suitable for investors who:
Our seasoned team of more than 130 investment professionals brings their deep expertise to managing each fund so you can feel confident in the choices you’re making. More than 75% have at least 10 years of experience, more than 45% have more than 20 years of investment experience, and more than 80% have earned the Chartered Financial Analyst designation, an advanced degree, or both.
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 data cited represents past performance and should not be viewed as an indication of 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
These returns, also known as trailing returns, illustrate fund performance over a specific time period, including capital appreciation as well as reinvested dividends and capital gains distributions.
All returns greater than one year are annualized; returns for periods of less than one year are not annualized.
Annual Fund Operating Expenses
This figure represents the total percentage of a mutual fund’s assets used to maintain the fund, including operating expenses and management fees. It does not include the impact of any fee waivers or expense reimbursements that may have been in effect during the time period. It’s calculated by dividing the fund’s annual operating expenses by the average dollar value of its assets.
Net Annual Fund Operating Expenses (if applicable)
This figure represents the total percentage of a mutual fund’s assets used to maintain the fund, including operating expenses and management fees. It’s calculated by dividing the fund’s annual net operating expenses by the average dollar value of its assets, and includes the impact of any fee waivers or expense reimbursements that may have been in effect during the time period.
Performance shown assumes the reinvestment of all dividends and capital gains. Performance of other share classes will vary from the results shown based on differences in sales charges and expenses.
The Morningstar average represents the average total return annualized when greater than one year for all reported funds in the category. Morningstar averages do not include sales charges/fees. If included, returns would have been lower.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
Bloomberg US Corporate Bond Index measures the investment grade, fixed rate, US taxable corporate bond market.
Performance shown assumes the reinvestment of all dividends and capital gains. Performance of other share classes will vary from the results shown based on differences in sales charges and expenses.
The Morningstar average represents the average total return annualized when greater than one year for all reported funds in the category. Morningstar averages do not include sales charges/fees. If included, returns would have been lower.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
Bloomberg US Corporate Bond Index measures the investment grade, fixed rate, US taxable corporate bond market.
Thrivent Income Fund | Bloomberg U.S. Corporate Bond Index | Morningstar Corporate Bond Avg | |
---|---|---|---|
3M | -9.33% | -9.69% | -9.07% |
YTD | -12.05% | -12.73% | -11.76% |
1Y | -10.08% | -10.43% | -9.92% |
3Y | 1.66% | 0.93% | 1.04% |
5Y | 2.39% | 1.97% | 1.85% |
10Y | 3.31% | 2.93% | 2.83% |
Thrivent Income Fund | Bloomberg U.S. Corporate Bond Index | Morningstar Corporate Bond Avg | |
---|---|---|---|
3M | -7.24% | -7.69% | -7.09% |
YTD | -7.24% | -7.69% | -7.09% |
1Y | -3.95% | -4.20% | -4.12% |
3Y | 3.62% | 3.02% | 3.02% |
5Y | 3.70% | 3.34% | 3.12% |
10Y | 3.99% | 3.65% | 3.49% |
12 Month Distribution
The sum of a Fund’s total trailing dividend distributions for the last 12 months, divided by its net asset value or share price at the end of the period.
30 Day SEC
A standardized yield calculation developed by the Securities and Exchange Commission (SEC). It captures the net investment income earned by a fund over a 30-day period, after the deduction of the Fund’s expenses. It’s an annualized percentage, based on the Fund's share price on the last day of the period. Since share prices and yields are subject to fluctuation, current yields should not be considered an indication of future results.
30 Day SEC Pre-Waiver (if applicable)
This yield calculation is similar to the 30-Day SEC yield, but shows what the Fund’s yield would be without any fee waivers or expense reimbursements.
Monthly Distribution
The sum of a Fund’s total trailing dividend distributions for the most recent month, divided by its net asset value or share price at the end of the period, annualized.
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 reinvest of all dividends and capital gains. Performance of other share classes will vary from the results shown based on differences in sales charges and expenses.
Date | $∆ | %∆ | Total Market |
---|---|---|---|
2022 | +3,853.60 | +38.54% | $13,853.60 |
2021 | +5,752.13 | +57.52% | $15,752.13 |
2020 | +5,831.33 | +58.31% | $15,831.33 |
2019 | +4,145.74 | +41.46% | $14,145.74 |
2018 | +2,458.42 | +24.58% | $12,458.42 |
2017 | +2,753.46 | +27.53% | $12,753.46 |
2016 | +2,002.74 | +20.03% | $12,002.74 |
2015 | +1,296.21 | +12.96% | $11,296.21 |
2014 | +1,370.29 | +13.70% | $11,370.29 |
2013 | +640.19 | +6.40% | $10,640.19 |
2012 | +641.23 | +6.41% | $10,641.23 |
Calendar Year Performance
How this fund has performed over each calendar year. The annual total returns are calculated on a calendar-year basis, and include both capital appreciation and dividends. Periods of less than one year are not shown.
Performance shown assumes the reinvestment of all dividends and capital gains. Performance of other share classes will vary from the results shown based on differences in sales charges and expenses.
The Morningstar average represents the average total return annualized when greater than one year for all reported funds in the category. Morningstar averages do not include sales charges/fees. If included, returns would have been lower.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
Bloomberg US Corporate Bond Index measures the investment grade, fixed rate, US taxable corporate bond market.
Performance shown assumes the reinvestment of all dividends and capital gains. Performance of other share classes will vary from the results shown based on differences in sales charges and expenses.
The Morningstar average represents the average total return annualized when greater than one year for all reported funds in the category. Morningstar averages do not include sales charges/fees. If included, returns would have been lower.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
Bloomberg US Corporate Bond Index measures the investment grade, fixed rate, US taxable corporate bond market.
Date | Thrivent Income Fund | Bloomberg U.S. Corporate Bond Index | Morningstar Corporate Bond Avg |
---|---|---|---|
2021 | -0.50% | -1.04% | -0.76% |
2020 | 11.92% | 9.89% | 9.28% |
2019 | 13.54% | 14.54% | 13.03% |
2018 | -2.31% | -2.51% | -2.38% |
2017 | 6.25% | 4.56% | 5.88% |
2016 | 6.25% | 6.11% | 6.62% |
2015 | -0.65% | -0.68% | -1.98% |
2014 | 6.86% | 7.46% | 7.20% |
2013 | -0.01% | -1.53% | -1.19% |
2012 | 11.36% | 9.82% | 11.01% |
Performance data cited represents past performance and should not be viewed as an indication of 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.
Total Number of Holdings
This is a tally of the number of different investment products that make up the fund’s portfolio.
Turnover Ratio (Last 12 Months)
This is the percentage of the fund’s holdings that have been traded out or replaced with other holdings over the year. The turnover ratio is calculated by dividing the lesser of long-term purchases or long-term sales by average long-term market value.
This is the Fund’s top 10 holdings by percentage of the total assets. Holdings from the same issuer are represented as separate holdings if they have different coupon rates or maturity dates. This excludes derivatives and cash that the fund may hold. (Updated monthly with 30 day lag)
Security name | % of total assets | Maturity | Coupon rate |
---|---|---|---|
iShares S&P U.S. Preferred Stock Index Fund | 0.99% | ||
U.S. Treasury Bonds | 0.76% | 08/15/2051 | 2.00% |
GE Capital International Funding Company | 0.65% | 11/15/2035 | 4.42% |
U.S. Treasury Bonds | 0.54% | 11/15/2051 | 1.88% |
First-Citizens Bank & Trust Company | 0.53% | 03/09/2028 | 6.13% |
Pacific Gas and Electric Company | 0.51% | 07/01/2030 | 4.55% |
Freeport-McMoRan, Inc. | 0.51% | 08/01/2030 | 4.63% |
Boeing Company | 0.49% | 05/01/2060 | 5.93% |
Expedia Group, Inc. | 0.49% | 02/15/2030 | 3.25% |
Ally Financial, Inc. | 0.46% | 11/01/2031 | 8.00% |
This is the mix of areas in the market in which the fund contains holdings. (updated quarterly)
Statistics shown below are compared to the Bloomberg U.S. Aggregate Bond Index. The benchmark is intended to provide a comparison to the broad U.S. bond market, and may not be representative of the Fund's investment strategies and holdings.
Duration — A measure of a portfolio's sensitivity to changes in interest rates.
Average Life — The average length of time until the bonds in the portfolio will repay principal. This measure takes into consideration the possibility that bonds might be called back or prepaid by the issuer prior to the maturity date stated on the bond.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
Duration | Average Life | |
---|---|---|
Thrivent Income Fund | 7.01 | 11.47 |
Bloomberg U.S. Aggregate Bond Index | 6.41 | 8.70 |
The lower of the bond ratings assigned by Moody’s Investor Services, Inc. or Standard & Poor’s® Financial Services, LLC (“S&P”). Investments in derivatives and short-term investments are not included.
High Quality (HQ) Bonds
These bonds are also called Investment Grade bonds. They’re considered low risk due to the bond issuer’s ability to pay the bond’s interest and principal without defaulting.
High Yield (HY) Bonds
These bonds are considered a higher risk than high quality bonds, but also pay a higher yield.
Non-Rated (NR) Bonds
These bonds are non-rated because the bond issuers don’t have a credit rating with either Moody’s or S&P.
HQ/HY/NR Bonds
Exchange Traded Funds (ETFs) and closed-end funds ratings aren’t currently being provided.
© 2022 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
A high rating does not necessarily imply that a fund had the best total performance or that the fund achieved positive results for that period. Morningstar rating is for the named share class only; other classes may have difference performance characteristics. Please see the Performance section for results as of the most recent month- and quarter-end.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The Risk vs. Category statistic is an assessment of the variations in a fund's monthly returns in comparison to similar funds, with an emphasis on downward variation. The greater the variation, the larger the risk score. If two funds have the exact same return, the one with greater variations in its return is given the larger risk score. In each Morningstar Category, the 10% of funds with the lowest measured risk are described as Low Risk, the next 22.5% Below Average, the middle 35% Average, the next 22.5% Above Average, and the top 10% High. Morningstar Risk is measured for up to three time periods (three-, five-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for the fund. The score shown is the overall measure. Funds with less than three years of performance history are not rated.
Source: Morningstar
The Return vs. Category statistic is an assessment of the fund's excess return over a risk-free rate (the return of the 90-day Treasury bill) in comparison to similar funds, with an emphasis on downward variation. Therefore, if two funds have precisely the same return, the one with greater variations in its return is given the lower return score. In each Morningstar Category, the top 10% of funds earn a High Morningstar Return, the next 22.5% Above Average, the middle 35% Average, the next 22.5% Below Average, and the bottom 10% Low. Morningstar Return is measured for up to three time periods (three-, five-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for the fund. The score shown is the overall measure. Funds with less than three years of performance history are not rated.
Source: Morningstar
Morningstar ratings are calculated based on risk-adjusted return.
Thrivent Income Fund appeared as a medium credit quality, moderate interest rate sensitivity fund on the Morningstar Style Box™ as of 02/28/2022.
The Morningstar Style Box™ reveals a fund’s investment strategy. For fixed-income funds, the vertical axis of the Fixed Income Style Boxes shows the credit quality of the bonds owned (high, medium, or low) and the horizontal axis shows interest rate sensitivity (limited, moderate, or extensive) as measured by a bond’s effective duration.
Morningstar seeks credit rating information from fund companies on a periodic basis (e.g. quarterly). In compiling credit rating information Morningstar accepts credit ratings reported by fund companies that have been issued by all Nationally Recognized Statistical Rating Organizations (NRSROs). For a list of all NRSROs, please visit http://www.sec.gov/divisions/marketreg/ratingagency.htm. Additionally, Morningstar accepts foreign credit ratings from widely recognized or registered rating agencies. If two rating organizations/agencies have rated a security, fund companies are to report the lower rating; if three or more organizations/agencies have rated a security, fund companies are to report the median rating, and in cases where there are more than two organization/agency ratings and a median rating does not exist, fund companies are to use the lower of the two middle ratings. PLEASE NOTE: Morningstar, Inc. is not itself an NRSRO nor does it issue a credit rating on the fund. An NRSRO or rating agency ratings can change from time-to-time.
For credit quality, Morningstar combines the credit rating information provided by the fund companies with an average default rate calculation to come up with a weighted-average credit quality. The weighted-average credit quality is currently a letter that roughly corresponds to the scale used by a leading nationally recognized statistical rating organization (NRSRO). Bond funds are assigned a style box placement of "low", "medium", or "high" based on their average credit quality. Funds with a low credit quality are those whose weighted-average credit quality is determined to be less than "BBB""; medium are those less than "AA"", but greater or equal to "BBB""; and high are those with a weighted average credit quality of "AA"" or higher. When classifying a bond portfolio, Morningstar first maps the NRSRO credit ratings of the underlying holdings to their respective default rates (as determined by Morningstar’s analysis of actual historical default rates). Morningstar then averages these default rates to determine the average default rate for the entire bond fund. Finally, Morningstar maps this average default rate to its corresponding credit rating along a convex curve.
For interest-rate sensitivity, Morningstar obtains from fund companies the average effective duration. Generally, Morningstar classifies a fixed-income fund’s interest-rate sensitivity based on the effective duration of the Morningstar Core Bond Index (MCBI), which is currently three years. The classification of Limited will be assigned to those funds whose average effective duration is between 25% to 75% of MCBI’s average effective duration; funds whose average effective duration is between 75% to 125% of the MCBI will be classified as Moderate; and those that are at 125% or greater of the average effective duration of the MCBI will be classified as Extensive.
Dividends | Month End Nav | |
---|---|---|
May 2021 | $0.0208 | $9.72 |
June 2021 | $0.0246 | $9.85 |
July 2021 | $0.0223 | $9.95 |
August 2021 | $0.0225 | $9.91 |
September 2021 | $0.0212 | $9.81 |
October 2021 | $0.0205 | $9.79 |
November 2021 | $0.0232 | $9.74 |
December 2021 | $0.0224 | $9.58 |
January 2022 | $0.0228 | $9.27 |
February 2022 | $0.0213 | $9.07 |
March 2022 | $0.0239 | $8.82 |
April 2022 | $0.0224 | $8.34 |
Trailing 12-Months; Dividend Schedule: Declared Daily, Paid Monthly
A capital gain is a profit that a mutual fund realizes by selling securities for a price higher than at which they were purchased.
Short-Term Capital Gain Distributions
Capital Gains paid on assets held by the fund for one year or less.
Long-Term Capital Gain Distributions
Capital Gains paid on assets held by the fund for more than one year.
Record date | Short term capital gains | Long term capital gains | Total |
---|---|---|---|
12/08/2021 | $0.0026 | $0.1572 | $0.1598 |
Management Fees and Other Expenses
This figure represents the total percentage of a mutual fund's assets paid to the investment adviser for portfolio management and investment services (the "management fee"), "Acquired Fund Fees and Expenses" (if the Fund invests in other mutual funds or investments with management fees), plus "Other Expenses" such as custodial, transfer agency, legal, accounting and administrative fees that are required to operate the fund. For more information, please see the prospectus or Statement of Additional Information.
Distribution/12b-1 Fee (May not apply. See prospectus for more details)
This is an annual marketing or distribution fee on a mutual fund. This is an operational expense, so it’s included in a fund's expense ratio.
Total Annual Fund Operating Expenses
This figure represents the total percentage of a mutual fund’s assets used to maintain the fund, including operating expenses and management fees. It does not include the impact of any fee waivers or expense reimbursements that may have been in effect during the time period. It’s calculated by dividing the fund’s annual operating expenses by the average dollar value of its assets.
Less Waiver (May not apply. See prospectus for more details)
Certain funds may be subject to an expense waiver, or the amount the fund's Adviser waives or assumes to keep the fund's expenses low.
Net Annual Fund Operating Expenses
This figure represents the total percentage of a mutual fund’s assets used to maintain the fund, including operating expenses and management fees. It’s calculated by dividing the fund’s annual net operating expenses by the average dollar value of its assets, and includes the impact of any fee waivers or expense reimbursements that may have been in effect during the time period.
Management Fees and Other Expenses | 0.46% |
Distribution/12b-1 Fee | None |
Total Annual Fund Operating Expenses | 0.46% |
Redemption Fee
A fee charged for withdrawing money from a mutual fund. These fees are usually used to discourage shareholders from making too many sales in a short period of time.
Transaction Fee
A fee charged by a broker or other intermediary for assistance in purchasing or selling shares of a fund.
Low Balance Fee
A fee charged to offset expenses incurred when maintaining low balance accounts.
Due to the high cost to shareholders of maintaining accounts with low balances, the transfer agent may, by redeeming shares, charge a semiannual fee of $10 if the value of shares in the account falls to an amount below the fund minimum. See the Prospectus for more details.
Redemption Fee | None |
Transaction Fee | None |
Low Balance Fee | $10 semiannually |
Front-End Sales Charge
The sales charge applied at the time of an initial purchase of mutual fund shares. The charge is deducted from the amount being invested, so a front-end load lowers the size of the investment.
Back-End Sales Charge
The fee paid when selling shares in a mutual fund within a set number of years, often five to 10 years. The fee amounts to a percentage of the value of the share being sold. The fee percentage is highest in the first year and decreases yearly until the specified holding period ends, at which time it drops to zero.
Front-End Sales Charge | None |
Back-End Sales Charge | None |
Initial Minimum Investments
The minimum amount of money needed to first invest in a mutual fund.
Additional Purchases Amount
After the initial minimum investment has been made, ongoing purchases of shares can happen at a much lower amount.
Recurring Investments
This indicates the smallest amount with which you may enter a fund’s automatic recurring plan. You can arrange for the fund to receive money from your checking account on a monthly, quarterly, semiannual, or annual basis.
Initial for non-retirement accounts | $2,000 |
Initial for retirement or tax deferred accounts | $1,000 |
Additional Purchases | $50 |
Due to rounding, some values may not total 100%.