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Fixed Income Funds

Thrivent Municipal Bond Fund(AAMBX)

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 10,035.08
2007 10,322.79
2008 10,075.05
2009 11,271.38
2010 11,427.79
2011 12,635.21
2012 13,593.8
2013 13,111.28
2014 14,372.88
2015 14,818.38

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.

Moderately Conservative

Morningstar Fixed Income Style Box

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
-2.04%

1 Year Return with Sales Charge
-0.91%
Net Annual Fund Operating Expenses
0.74%

Max Sales Charge
4.50%

Fund Overview

Thrivent Municipal Bond Fund seeks a high level of current income exempt from federal income taxes, consistent with capital preservation.

The Thrivent Municipal Bond Fund invests in a nationally-diversified portfolio of high-quality municipal bonds. A municipal bond is a debt security issued by a city, county or state government to finance its capital expenditures. These bonds often finance public projects such as schools, roads, bridges, sewers or hospitals. Municipal bonds are exempt from federal income taxes. The fund generally holds investment-grade bonds and unrated bonds that the fund’s investment advisor determines to be of comparable quality. It invests in both general obligation bonds that are backed by the taxing authority of the issuer, and revenue bonds that are repaid from the revenues generated by the project. Municipal bonds typically have a longer duration and more interest-rate risk than other corporate 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 rigorous credit research, the Thrivent Mutual Funds municipal bond analysts seek to identify high-quality municipal bonds that are issued by financially-sound entities with strong fundamentals and adequate cash flows to meet their principal and interest obligations. The portfolio manager is responsible for portfolio construction and risk management and seeks to invest with a very prudent level of risk. The fund’s holdings are well-diversified both geographically and across sectors.

Municipal bonds are subject to risks including, but not limited to, credit risk and interest rate risk. Credit risk is the risk that an issuer of a bond to which the Fund is exposed may no longer be able to pay its debt. Interest rate risk means bond prices generally fall as interest rates rise, and changes by the Federal Reserve to monetary policy could affect interest rates and the value of some securities. Changes in federal income tax laws or rates may affect both the net asset value of the Fund and the taxable equivalent interest generated from securities in the Fund. Some issues may be subject to state and local taxes and/or the federal and state alternative minimum tax (AMT). Any increase in principal value may be taxable. The Fund may incur losses due to the incorrect assessments of investments by its investment advisor. Investing in municipal bonds for the purpose of generating tax-exempt income may not be appropriate for investors in all income tax brackets. Please consult a tax advisor for more detailed information about your specific situation, including state/local tax treatment. These and other risks are described in the Fund's prospectus. 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 income that is generally exempt from federal income taxes. Some issues may be subject to state and local taxes and/or the alternative minimum tax (AMT). The Fund may invest in municipal securities that are subject to the AMT. 
  • Have a medium- to long-term investment time horizon and a moderately conservative risk tolerance.
  • Are able to withstand a low to moderate level of risk and volatility in pursuit of commensurate long-term returns

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