Thrivent Mutual Funds

Thrivent’s actively managed mutual funds make it easy for you to meet a variety of portfolio objectives for your clients. Look for our mutual funds on most major platforms.

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Performance

Performance as of 07/29/2022

Fund Name	YTD Return	1 Year	3 Year	5 Year	10 Year	Since Inception	Date of Inception	Max Sales Charge	Gross Expense Ratio	Net Expense Ratio
Thrivent Aggressive Allocation Fund¹	-17.61%	-13.80%	7.06%	7.43%	9.49%	7.16%	06/30/2005	4.50%⁴	1.36%	1.16%
YTD Return -17.61% 1 Year -13.80% 3 Year 7.06% 5 Year 7.43% 10 Year 9.49% Since Inception 7.16% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.36% Net Expense Ratio 1.16%
Thrivent Moderately Aggressive Allocation Fund¹	-17.21%	-14.04%	4.92%	5.72%	7.85%	6.32%	06/30/2005	4.50%⁴	1.33%	1.09%
YTD Return -17.21% 1 Year -14.04% 3 Year 4.92% 5 Year 5.72% 10 Year 7.85% Since Inception 6.32% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.33% Net Expense Ratio 1.09%
Thrivent Moderate Allocation Fund¹	-15.95%	-13.44%	3.85%	4.66%	6.31%	5.62%	06/30/2005	4.50%⁴	1.21%	1.02%
YTD Return -15.95% 1 Year -13.44% 3 Year 3.85% 5 Year 4.66% 10 Year 6.31% Since Inception 5.62% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.21% Net Expense Ratio 1.02%
Thrivent Moderately Conservative Allocation Fund¹	-14.85%	-13.61%	1.16%	2.62%	4.22%	4.41%	06/30/2005	4.50%⁴	1.16%	1.01%
YTD Return -14.85% 1 Year -13.61% 3 Year 1.16% 5 Year 2.62% 10 Year 4.22% Since Inception 4.41% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.16% Net Expense Ratio 1.01%
Thrivent Balanced Income Plus Fund⁵	-14.09%	-11.84%	3.08%	3.74%	6.17%	5.23%	12/29/1997	4.50%⁴	1.03%	1.03%
YTD Return -14.09% 1 Year -11.84% 3 Year 3.08% 5 Year 3.74% 10 Year 6.17% Since Inception 5.23% Date of Inception 12/29/1997 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Diversified Income Plus Fund	-12.63%	-11.70%	0.84%	2.20%	4.06%	4.50%	01/08/1997	4.50%	0.96%	0.96%
YTD Return -12.63% 1 Year -11.70% 3 Year 0.84% 5 Year 2.20% 10 Year 4.06% Since Inception 4.50% Date of Inception 01/08/1997 Max Sales Charge 4.50% Gross Expense Ratio 0.96% Net Expense Ratio 0.96%
Thrivent Opportunity Income Plus Fund⁶	-12.15%	-12.03%	-2.08%	0.05%	1.34%	4.78%	07/16/1987	4.50%	0.89%	0.89%
YTD Return -12.15% 1 Year -12.03% 3 Year -2.08% 5 Year 0.05% 10 Year 1.34% Since Inception 4.78% Date of Inception 07/16/1987 Max Sales Charge 4.50% Gross Expense Ratio 0.89% Net Expense Ratio 0.89%
Thrivent Global Stock Fund	-18.83%	-15.15%	6.39%	5.91%	8.82%	7.59%	07/16/1987	4.50%⁴	0.97%	0.97%
YTD Return -18.83% 1 Year -15.15% 3 Year 6.39% 5 Year 5.91% 10 Year 8.82% Since Inception 7.59% Date of Inception 07/16/1987 Max Sales Charge 4.50%⁴ Gross Expense Ratio 0.97% Net Expense Ratio 0.97%
Thrivent International Allocation Fund²	-20.46%	-19.22%	0.64%	-0.08%	3.82%	1.63%	02/29/2008	4.50%⁴	1.34%	1.20%
YTD Return -20.46% 1 Year -19.22% 3 Year 0.64% 5 Year -0.08% 10 Year 3.82% Since Inception 1.63% Date of Inception 02/29/2008 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.34% Net Expense Ratio 1.20%
Thrivent Large Cap Growth Fund	-26.38%	-22.92%	11.29%	13.15%	13.87%	5.26%	10/29/1999	4.50%⁴	1.03%	1.03%
YTD Return -26.38% 1 Year -22.92% 3 Year 11.29% 5 Year 13.15% 10 Year 13.87% Since Inception 5.26% Date of Inception 10/29/1999 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Large Cap Value Fund	-9.70%	-2.40%	10.04%	8.91%	11.14%	5.91%	10/29/1999	4.50%⁴	0.86%	0.86%
YTD Return -9.70% 1 Year -2.40% 3 Year 10.04% 5 Year 8.91% 10 Year 11.14% Since Inception 5.91% Date of Inception 10/29/1999 Max Sales Charge 4.50%⁴ Gross Expense Ratio 0.86% Net Expense Ratio 0.86%
Thrivent Mid Cap Stock Fund	-17.81%	-11.71%	10.26%	9.52%	13.43%	9.74%	06/30/1993	4.50%⁴	0.98%	0.98%
YTD Return -17.81% 1 Year -11.71% 3 Year 10.26% 5 Year 9.52% 10 Year 13.43% Since Inception 9.74% Date of Inception 06/30/1993 Max Sales Charge 4.50%⁴ Gross Expense Ratio 0.98% Net Expense Ratio 0.98%
Thrivent Small Cap Stock Fund	-12.66%	-9.72%	12.30%	10.96%	12.74%	9.03%	07/01/1996	4.50%⁴	1.07%	1.07%
YTD Return -12.66% 1 Year -9.72% 3 Year 12.30% 5 Year 10.96% 10 Year 12.74% Since Inception 9.03% Date of Inception 07/01/1996 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.07% Net Expense Ratio 1.07%
Thrivent Government Bond Fund²	-7.38%	-8.34%	-0.59%	0.60%	0.73%	1.78%	02/26/2010	2.00%	1.09%	0.75%
YTD Return -7.38% 1 Year -8.34% 3 Year -0.59% 5 Year 0.60% 10 Year 0.73% Since Inception 1.78% Date of Inception 02/26/2010 Max Sales Charge 2.00% Gross Expense Ratio 1.09% Net Expense Ratio 0.75%
Thrivent High Yield Fund	-12.52%	-11.32%	-1.12%	0.87%	3.18%	5.80%	04/03/1987	4.50%	0.79%	0.79%
YTD Return -12.52% 1 Year -11.32% 3 Year -1.12% 5 Year 0.87% 10 Year 3.18% Since Inception 5.80% Date of Inception 04/03/1987 Max Sales Charge 4.50% Gross Expense Ratio 0.79% Net Expense Ratio 0.79%
Thrivent Income Fund	-15.80%	-16.77%	-1.36%	0.83%	2.22%	6.44%	06/01/1972	4.50%	0.74%	0.74%
YTD Return -15.80% 1 Year -16.77% 3 Year -1.36% 5 Year 0.83% 10 Year 2.22% Since Inception 6.44% Date of Inception 06/01/1972 Max Sales Charge 4.50% Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Thrivent Limited Maturity Bond Fund	-3.50%	-3.94%	0.48%	1.20%	1.31%	2.81%	10/29/1999	N/A	0.56%	0.56%
YTD Return -3.50% 1 Year -3.94% 3 Year 0.48% 5 Year 1.20% 10 Year 1.31% Since Inception 2.81% Date of Inception 10/29/1999 Max Sales Charge N/A Gross Expense Ratio 0.56% Net Expense Ratio 0.56%
Thrivent Money Market Fund²	0.04%	0.04%	0.33%	0.72%	0.36%	2.59%	03/10/1988	N/A	0.49%	0.44%
YTD Return 0.04% 1 Year 0.04% 3 Year 0.33% 5 Year 0.72% 10 Year 0.36% Since Inception 2.59% Date of Inception 03/10/1988 Max Sales Charge N/A Gross Expense Ratio 0.49% Net Expense Ratio 0.44%
Thrivent Municipal Bond Fund	-12.06%	-12.41%	-1.61%	0.37%	1.53%	5.07%	12/03/1976	4.50%	0.74%	0.74%
YTD Return -12.06% 1 Year -12.41% 3 Year -1.61% 5 Year 0.37% 10 Year 1.53% Since Inception 5.07% Date of Inception 12/03/1976 Max Sales Charge 4.50% Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Money Market 7-Day Current Yield With Reimbursement³ : 1.31%
Money Market 7-Day Current Yield Without Reimbursement³ : 1.26%

All returns represent past performance. Past performance does not guarantee future results. The value of an investment fluctuates so that shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the performance data quoted. Call 800-847-4836 or visit ThriventFunds.com for performance results current to the most recent month-end. When calling, say "ThriventFunds.com" for faster service.

You could lose money by investing in Thrivent Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Performance shown reflects the current maximum sales charge of 4.50%. Prior to February 29, 2016, the maximum sales charge was 5.50%; however, the prior rate is not reflected for periods that began prior to that date.

⁵Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁶Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

Fund Name	YTD Return	1 Year	3 Year	5 Year	10 Year	Since Inception	Date of Inception	Gross Expense Ratio	Net Expense Ratio
Thrivent Aggressive Allocation Fund¹	-13.74%	-9.76%	8.72%	8.42%	10.00%	7.45%	06/30/2005	1.36%	1.16%
YTD Return -13.74% 1 Year -9.76% 3 Year 8.72% 5 Year 8.42% 10 Year 10.00% Since Inception 7.45% Date of Inception 06/30/2005 Gross Expense Ratio 1.36% Net Expense Ratio 1.16%
Thrivent Moderately Aggressive Allocation Fund¹	-13.33%	-9.99%	6.55%	6.70%	8.35%	6.61%	06/30/2005	1.33%	1.09%
YTD Return -13.33% 1 Year -9.99% 3 Year 6.55% 5 Year 6.70% 10 Year 8.35% Since Inception 6.61% Date of Inception 06/30/2005 Gross Expense Ratio 1.33% Net Expense Ratio 1.09%
Thrivent Moderate Allocation Fund¹	-11.97%	-9.36%	5.46%	5.63%	6.80%	5.90%	06/30/2005	1.21%	1.02%
YTD Return -11.97% 1 Year -9.36% 3 Year 5.46% 5 Year 5.63% 10 Year 6.80% Since Inception 5.90% Date of Inception 06/30/2005 Gross Expense Ratio 1.21% Net Expense Ratio 1.02%
Thrivent Moderately Conservative Allocation Fund¹	-10.83%	-9.54%	2.72%	3.57%	4.70%	4.69%	06/30/2005	1.16%	1.01%
YTD Return -10.83% 1 Year -9.54% 3 Year 2.72% 5 Year 3.57% 10 Year 4.70% Since Inception 4.69% Date of Inception 06/30/2005 Gross Expense Ratio 1.16% Net Expense Ratio 1.01%
Thrivent Balanced Income Plus Fund⁴	-10.01%	-7.70%	4.69%	4.70%	6.66%	5.43%	12/29/1997	1.03%	1.03%
YTD Return -10.01% 1 Year -7.70% 3 Year 4.69% 5 Year 4.70% 10 Year 6.66% Since Inception 5.43% Date of Inception 12/29/1997 Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Diversified Income Plus Fund	-8.55%	-7.51%	2.38%	3.13%	4.53%	4.69%	01/08/1997	0.96%	0.96%
YTD Return -8.55% 1 Year -7.51% 3 Year 2.38% 5 Year 3.13% 10 Year 4.53% Since Inception 4.69% Date of Inception 01/08/1997 Gross Expense Ratio 0.96% Net Expense Ratio 0.96%
Thrivent Opportunity Income Plus Fund⁵	-7.98%	-7.90%	-0.56%	0.97%	1.80%	4.92%	07/16/1987	0.89%	0.89%
YTD Return -7.98% 1 Year -7.90% 3 Year -0.56% 5 Year 0.97% 10 Year 1.80% Since Inception 4.92% Date of Inception 07/16/1987 Gross Expense Ratio 0.89% Net Expense Ratio 0.89%
Thrivent Global Stock Fund	-15.00%	-11.15%	8.03%	6.89%	9.32%	7.73%	07/16/1987	0.97%	0.97%
YTD Return -15.00% 1 Year -11.15% 3 Year 8.03% 5 Year 6.89% 10 Year 9.32% Since Inception 7.73% Date of Inception 07/16/1987 Gross Expense Ratio 0.97% Net Expense Ratio 0.97%
Thrivent International Allocation Fund²	-16.74%	-15.44%	2.19%	0.85%	4.30%	1.96%	02/29/2008	1.34%	1.20%
YTD Return -16.74% 1 Year -15.44% 3 Year 2.19% 5 Year 0.85% 10 Year 4.30% Since Inception 1.96% Date of Inception 02/29/2008 Gross Expense Ratio 1.34% Net Expense Ratio 1.20%
Thrivent Large Cap Growth Fund	-22.93%	-19.29%	13.03%	14.20%	14.39%	5.47%	10/29/1999	1.03%	1.03%
YTD Return -22.93% 1 Year -19.29% 3 Year 13.03% 5 Year 14.20% 10 Year 14.39% Since Inception 5.47% Date of Inception 10/29/1999 Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Large Cap Value Fund	-5.43%	2.18%	11.74%	9.92%	11.65%	6.13%	10/29/1999	0.86%	0.86%
YTD Return -5.43% 1 Year 2.18% 3 Year 11.74% 5 Year 9.92% 10 Year 11.65% Since Inception 6.13% Date of Inception 10/29/1999 Gross Expense Ratio 0.86% Net Expense Ratio 0.86%
Thrivent Mid Cap Stock Fund	-13.92%	-7.56%	11.97%	10.53%	13.96%	9.91%	06/30/1993	0.98%	0.98%
YTD Return -13.92% 1 Year -7.56% 3 Year 11.97% 5 Year 10.53% 10 Year 13.96% Since Inception 9.91% Date of Inception 06/30/1993 Gross Expense Ratio 0.98% Net Expense Ratio 0.98%
Thrivent Small Cap Stock Fund	-8.55%	-5.46%	14.03%	11.99%	13.26%	9.23%	07/01/1996	1.07%	1.07%
YTD Return -8.55% 1 Year -5.46% 3 Year 14.03% 5 Year 11.99% 10 Year 13.26% Since Inception 9.23% Date of Inception 07/01/1996 Gross Expense Ratio 1.07% Net Expense Ratio 1.07%
Thrivent Government Bond Fund²	-5.44%	-6.45%	0.07%	1.00%	0.93%	1.94%	02/26/2010	1.09%	0.75%
YTD Return -5.44% 1 Year -6.45% 3 Year 0.07% 5 Year 1.00% 10 Year 0.93% Since Inception 1.94% Date of Inception 02/26/2010 Gross Expense Ratio 1.09% Net Expense Ratio 0.75%
Thrivent High Yield Fund	-8.41%	-7.16%	0.38%	1.80%	3.65%	5.93%	04/03/1987	0.79%	0.79%
YTD Return -8.41% 1 Year -7.16% 3 Year 0.38% 5 Year 1.80% 10 Year 3.65% Since Inception 5.93% Date of Inception 04/03/1987 Gross Expense Ratio 0.79% Net Expense Ratio 0.79%
Thrivent Income Fund	-11.85%	-12.84%	0.16%	1.77%	2.68%	6.53%	06/01/1972	0.74%	0.74%
YTD Return -11.85% 1 Year -12.84% 3 Year 0.16% 5 Year 1.77% 10 Year 2.68% Since Inception 6.53% Date of Inception 06/01/1972 Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Thrivent Limited Maturity Bond Fund	-3.50%	-3.94%	0.48%	1.20%	1.31%	2.81%	10/29/1999	0.56%	0.56%
YTD Return -3.50% 1 Year -3.94% 3 Year 0.48% 5 Year 1.20% 10 Year 1.31% Since Inception 2.81% Date of Inception 10/29/1999 Gross Expense Ratio 0.56% Net Expense Ratio 0.56%
Thrivent Money Market Fund²	0.04%	0.04%	0.33%	0.72%	0.36%	2.59%	03/10/1988	0.49%	0.44%
YTD Return 0.04% 1 Year 0.04% 3 Year 0.33% 5 Year 0.72% 10 Year 0.36% Since Inception 2.59% Date of Inception 03/10/1988 Gross Expense Ratio 0.49% Net Expense Ratio 0.44%
Thrivent Municipal Bond Fund	-7.88%	-8.32%	-0.08%	1.30%	1.99%	5.18%	12/03/1976	0.74%	0.74%
YTD Return -7.88% 1 Year -8.32% 3 Year -0.08% 5 Year 1.30% 10 Year 1.99% Since Inception 5.18% Date of Inception 12/03/1976 Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Money Market 7-Day Current Yield With Reimbursement³ : 1.31%
Money Market 7-Day Current Yield Without Reimbursement³ : 1.26%

All returns represent past performance. Past performance does not guarantee future results. The value of an investment fluctuates so that shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the performance data quoted. Call 800-847-4836 or visit ThriventFunds.com for performance results current to the most recent month-end. When calling, say "ThriventFunds.com" for faster service.

The performance data shown does not reflect the deduction of the sales charge. The current maximum sales charge is 4.5%, except for Thrivent Government Bond Fund which has a max sales charge of 2.0% and the Thrivent Money Market Fund and Thrivent Limited Maturity Bond Fund which has no sales charge. If reflected, the sales charge would reduce the performance quoted.

You could lose money by investing in Thrivent Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

Fund Name	YTD Return	1 Year	3 Year	5 Year	10 Year	Since Inception	Date of Inception	Max Sales Charge	Gross Expense Ratio	Net Expense Ratio
Thrivent Aggressive Allocation Fund¹	-23.59%	-18.71%	4.45%	6.23%	8.77%	6.72%	06/30/2005	4.50%⁴	1.36%	1.16%
YTD Return -23.59% 1 Year -18.71% 3 Year 4.45% 5 Year 6.23% 10 Year 8.77% Since Inception 6.72% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.36% Net Expense Ratio 1.16%
Thrivent Moderately Aggressive Allocation Fund¹	-22.76%	-18.27%	2.65%	4.60%	7.21%	5.92%	06/30/2005	4.50%⁴	1.33%	1.09%
YTD Return -22.76% 1 Year -18.27% 3 Year 2.65% 5 Year 4.60% 10 Year 7.21% Since Inception 5.92% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.33% Net Expense Ratio 1.09%
Thrivent Moderate Allocation Fund¹	-21.14%	-17.51%	1.78%	3.59%	5.76%	5.25%	06/30/2005	4.50%⁴	1.21%	1.02%
YTD Return -21.14% 1 Year -17.51% 3 Year 1.78% 5 Year 3.59% 10 Year 5.76% Since Inception 5.25% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.21% Net Expense Ratio 1.02%
Thrivent Moderately Conservative Allocation Fund¹	-18.88%	-16.66%	-0.36%	1.85%	3.84%	4.13%	06/30/2005	4.50%⁴	1.16%	1.01%
YTD Return -18.88% 1 Year -16.66% 3 Year -0.36% 5 Year 1.85% 10 Year 3.84% Since Inception 4.13% Date of Inception 06/30/2005 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.16% Net Expense Ratio 1.01%
Thrivent Balanced Income Plus Fund⁵	-18.06%	-14.95%	1.57%	3.00%	5.70%	5.05%	12/29/1997	4.50%⁴	1.03%	1.03%
YTD Return -18.06% 1 Year -14.95% 3 Year 1.57% 5 Year 3.00% 10 Year 5.70% Since Inception 5.05% Date of Inception 12/29/1997 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Diversified Income Plus Fund	-16.23%	-14.70%	-0.49%	1.54%	3.82%	4.34%	01/08/1997	4.50%	0.96%	0.96%
YTD Return -16.23% 1 Year -14.70% 3 Year -0.49% 5 Year 1.54% 10 Year 3.82% Since Inception 4.34% Date of Inception 01/08/1997 Max Sales Charge 4.50% Gross Expense Ratio 0.96% Net Expense Ratio 0.96%
Thrivent Opportunity Income Plus Fund⁶	-15.01%	-14.55%	-3.02%	-0.49%	1.16%	4.69%	07/16/1987	4.50%	0.89%	0.89%
YTD Return -15.01% 1 Year -14.55% 3 Year -3.02% 5 Year -0.49% 10 Year 1.16% Since Inception 4.69% Date of Inception 07/16/1987 Max Sales Charge 4.50% Gross Expense Ratio 0.89% Net Expense Ratio 0.89%
Thrivent Global Stock Fund	-24.73%	-20.05%	3.54%	4.85%	8.10%	7.37%	07/16/1987	4.50%⁴	0.97%	0.97%
YTD Return -24.73% 1 Year -20.05% 3 Year 3.54% 5 Year 4.85% 10 Year 8.10% Since Inception 7.37% Date of Inception 07/16/1987 Max Sales Charge 4.50%⁴ Gross Expense Ratio 0.97% Net Expense Ratio 0.97%
Thrivent International Allocation Fund²	-24.25%	-22.01%	-1.80%	-0.51%	3.39%	1.30%	02/29/2008	4.50%⁴	1.34%	1.20%
YTD Return -24.25% 1 Year -22.01% 3 Year -1.80% 5 Year -0.51% 10 Year 3.39% Since Inception 1.30% Date of Inception 02/29/2008 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.34% Net Expense Ratio 1.20%
Thrivent Large Cap Growth Fund	-34.63%	-29.83%	7.61%	11.04%	12.67%	4.73%	10/29/1999	4.50%⁴	1.03%	1.03%
YTD Return -34.63% 1 Year -29.83% 3 Year 7.61% 5 Year 11.04% 10 Year 12.67% Since Inception 4.73% Date of Inception 10/29/1999 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Large Cap Value Fund	-15.50%	-7.98%	7.94%	7.87%	10.52%	5.62%	10/29/1999	4.50%⁴	0.86%	0.86%
YTD Return -15.50% 1 Year -7.98% 3 Year 7.94% 5 Year 7.87% 10 Year 10.52% Since Inception 5.62% Date of Inception 10/29/1999 Max Sales Charge 4.50%⁴ Gross Expense Ratio 0.86% Net Expense Ratio 0.86%
Thrivent Mid Cap Stock Fund	-26.03%	-19.16%	7.22%	7.22%	12.24%	9.37%	06/30/1993	4.50%⁴	0.98%	0.98%
YTD Return -26.03% 1 Year -19.16% 3 Year 7.22% 5 Year 7.22% 10 Year 12.24% Since Inception 9.37% Date of Inception 06/30/1993 Max Sales Charge 4.50%⁴ Gross Expense Ratio 0.98% Net Expense Ratio 0.98%
Thrivent Small Cap Stock Fund	-19.03%	-16.48%	9.43%	9.39%	11.99%	8.75%	07/01/1996	4.50%⁴	1.07%	1.07%
YTD Return -19.03% 1 Year -16.48% 3 Year 9.43% 5 Year 9.39% 10 Year 11.99% Since Inception 8.75% Date of Inception 07/01/1996 Max Sales Charge 4.50%⁴ Gross Expense Ratio 1.07% Net Expense Ratio 1.07%
Thrivent Government Bond Fund²	-9.31%	-9.39%	-1.29%	0.26%	0.62%	1.62%	02/26/2010	4.50%	1.09%	0.75%
YTD Return -9.31% 1 Year -9.39% 3 Year -1.29% 5 Year 0.26% 10 Year 0.62% Since Inception 1.62% Date of Inception 02/26/2010 Max Sales Charge 4.50% Gross Expense Ratio 1.09% Net Expense Ratio 0.75%
Thrivent High Yield Fund	-17.48%	-16.21%	-2.87%	-0.09%	2.78%	5.63%	04/03/1987	4.50%	0.79%	0.79%
YTD Return -17.48% 1 Year -16.21% 3 Year -2.87% 5 Year -0.09% 10 Year 2.78% Since Inception 5.63% Date of Inception 04/03/1987 Max Sales Charge 4.50% Gross Expense Ratio 0.79% Net Expense Ratio 0.79%
Thrivent Income Fund	-18.74%	-18.65%	-2.33%	0.29%	2.08%	6.37%	06/01/1972	4.50%	0.74%	0.74%
YTD Return -18.74% 1 Year -18.65% 3 Year -2.33% 5 Year 0.29% 10 Year 2.08% Since Inception 6.37% Date of Inception 06/01/1972 Max Sales Charge 4.50% Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Thrivent Limited Maturity Bond Fund	-4.44%	-4.71%	0.18%	1.06%	1.28%	2.78%	10/29/1999	N/A	0.56%	0.56%
YTD Return -4.44% 1 Year -4.71% 3 Year 0.18% 5 Year 1.06% 10 Year 1.28% Since Inception 2.78% Date of Inception 10/29/1999 Max Sales Charge N/A Gross Expense Ratio 0.56% Net Expense Ratio 0.56%
Thrivent Money Market Fund²	0.00%	0.00%	0.37%	0.71%	0.35%	2.60%	03/10/1988	N/A	0.49%	0.44%
YTD Return 0.00% 1 Year 0.00% 3 Year 0.37% 5 Year 0.71% 10 Year 0.35% Since Inception 2.60% Date of Inception 03/10/1988 Max Sales Charge N/A Gross Expense Ratio 0.49% Net Expense Ratio 0.44%
Thrivent Municipal Bond Fund	-14.51%	-14.26%	-2.30%	-0.11%	1.42%	5.02%	12/03/1976	4.50%	0.74%	0.74%
YTD Return -14.51% 1 Year -14.26% 3 Year -2.30% 5 Year -0.11% 10 Year 1.42% Since Inception 5.02% Date of Inception 12/03/1976 Max Sales Charge 4.50% Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Money Market 7-Day Current Yield With Reimbursement³ : 1.31%
Money Market 7-Day Current Yield Without Reimbursement³ : 1.26%

All returns represent past performance. Past performance does not guarantee future results. The value of an investment fluctuates so that shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the performance data quoted. Call 800-847-4836 or visit ThriventFunds.com for performance results current to the most recent month-end. When calling, say "ThriventFunds.com" for faster service.

You could lose money by investing in Thrivent Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Performance shown reflects the current maximum sales charge of 4.50%. Prior to February 29, 2016, the maximum sales charge was 5.50%; however, the prior rate is not reflected for periods that began prior to that date.

⁵Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁶Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

Fund Name	YTD Return	1 Year	3 Year	5 Year	10 Year	Since Inception	Date of Inception	Gross Expense Ratio	Net Expense Ratio
Thrivent Aggressive Allocation Fund¹	-20.01%	-14.88%	6.07%	7.22%	9.27%	7.01%	06/30/2005	1.36%	1.16%
YTD Return -20.01% 1 Year -14.88% 3 Year 6.07% 5 Year 7.22% 10 Year 9.27% Since Inception 7.01% Date of Inception 06/30/2005 Gross Expense Ratio 1.36% Net Expense Ratio 1.16%
Thrivent Moderately Aggressive Allocation Fund¹	-19.14%	-14.43%	4.25%	5.57%	7.70%	6.21%	06/30/2005	1.33%	1.09%
YTD Return -19.14% 1 Year -14.43% 3 Year 4.25% 5 Year 5.57% 10 Year 7.70% Since Inception 6.21% Date of Inception 06/30/2005 Gross Expense Ratio 1.33% Net Expense Ratio 1.09%
Thrivent Moderate Allocation Fund¹	-17.41%	-13.61%	3.36%	4.55%	6.25%	5.53%	06/30/2005	1.21%	1.02%
YTD Return -17.41% 1 Year -13.61% 3 Year 3.36% 5 Year 4.55% 10 Year 6.25% Since Inception 5.53% Date of Inception 06/30/2005 Gross Expense Ratio 1.21% Net Expense Ratio 1.02%
Thrivent Moderately Conservative Allocation Fund¹	-15.06%	-12.76%	1.18%	2.79%	4.33%	4.41%	06/30/2005	1.16%	1.01%
YTD Return -15.06% 1 Year -12.76% 3 Year 1.18% 5 Year 2.79% 10 Year 4.33% Since Inception 4.41% Date of Inception 06/30/2005 Gross Expense Ratio 1.16% Net Expense Ratio 1.01%
Thrivent Balanced Income Plus Fund⁴	-14.17%	-10.96%	3.13%	3.96%	6.19%	5.25%	12/29/1997	1.03%	1.03%
YTD Return -14.17% 1 Year -10.96% 3 Year 3.13% 5 Year 3.96% 10 Year 6.19% Since Inception 5.25% Date of Inception 12/29/1997 Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Diversified Income Plus Fund	-12.32%	-10.63%	1.03%	2.48%	4.30%	4.53%	01/08/1997	0.96%	0.96%
YTD Return -12.32% 1 Year -10.63% 3 Year 1.03% 5 Year 2.48% 10 Year 4.30% Since Inception 4.53% Date of Inception 01/08/1997 Gross Expense Ratio 0.96% Net Expense Ratio 0.96%
Thrivent Opportunity Income Plus Fund⁵	-10.98%	-10.53%	-1.52%	0.43%	1.63%	4.83%	07/16/1987	0.89%	0.89%
YTD Return -10.98% 1 Year -10.53% 3 Year -1.52% 5 Year 0.43% 10 Year 1.63% Since Inception 4.83% Date of Inception 07/16/1987 Gross Expense Ratio 0.89% Net Expense Ratio 0.89%
Thrivent Global Stock Fund	-21.18%	-16.28%	5.14%	5.82%	8.60%	7.51%	07/16/1987	0.97%	0.97%
YTD Return -21.18% 1 Year -16.28% 3 Year 5.14% 5 Year 5.82% 10 Year 8.60% Since Inception 7.51% Date of Inception 07/16/1987 Gross Expense Ratio 0.97% Net Expense Ratio 0.97%
Thrivent International Allocation Fund²	-20.70%	-18.30%	-0.29%	0.41%	3.87%	1.62%	02/29/2008	1.34%	1.20%
YTD Return -20.70% 1 Year -18.30% 3 Year -0.29% 5 Year 0.41% 10 Year 3.87% Since Inception 1.62% Date of Inception 02/29/2008 Gross Expense Ratio 1.34% Net Expense Ratio 1.20%
Thrivent Large Cap Growth Fund	-31.56%	-26.52%	9.28%	12.08%	13.19%	4.94%	10/29/1999	1.03%	1.03%
YTD Return -31.56% 1 Year -26.52% 3 Year 9.28% 5 Year 12.08% 10 Year 13.19% Since Inception 4.94% Date of Inception 10/29/1999 Gross Expense Ratio 1.03% Net Expense Ratio 1.03%
Thrivent Large Cap Value Fund	-11.51%	-3.66%	9.61%	8.87%	11.03%	5.84%	10/29/1999	0.86%	0.86%
YTD Return -11.51% 1 Year -3.66% 3 Year 9.61% 5 Year 8.87% 10 Year 11.03% Since Inception 5.84% Date of Inception 10/29/1999 Gross Expense Ratio 0.86% Net Expense Ratio 0.86%
Thrivent Mid Cap Stock Fund	-22.54%	-15.34%	8.87%	8.21%	12.76%	9.54%	06/30/1993	0.98%	0.98%
YTD Return -22.54% 1 Year -15.34% 3 Year 8.87% 5 Year 8.21% 10 Year 12.76% Since Inception 9.54% Date of Inception 06/30/1993 Gross Expense Ratio 0.98% Net Expense Ratio 0.98%
Thrivent Small Cap Stock Fund	-15.22%	-12.55%	11.11%	10.40%	12.51%	8.94%	07/01/1996	1.07%	1.07%
YTD Return -15.22% 1 Year -12.55% 3 Year 11.11% 5 Year 10.40% 10 Year 12.51% Since Inception 8.94% Date of Inception 07/01/1996 Gross Expense Ratio 1.07% Net Expense Ratio 1.07%
Thrivent Government Bond Fund²	-7.41%	-7.51%	-0.64%	0.66%	0.82%	1.78%	02/26/2010	1.09%	0.75%
YTD Return -7.41% 1 Year -7.51% 3 Year -0.64% 5 Year 0.66% 10 Year 0.82% Since Inception 1.78% Date of Inception 02/26/2010 Gross Expense Ratio 1.09% Net Expense Ratio 0.75%
Thrivent High Yield Fund	-13.60%	-12.30%	-1.40%	0.84%	3.25%	5.77%	04/03/1987	0.79%	0.79%
YTD Return -13.60% 1 Year -12.30% 3 Year -1.40% 5 Year 0.84% 10 Year 3.25% Since Inception 5.77% Date of Inception 04/03/1987 Gross Expense Ratio 0.79% Net Expense Ratio 0.79%
Thrivent Income Fund	-14.93%	-14.86%	-0.82%	1.21%	2.55%	6.47%	06/01/1972	0.74%	0.74%
YTD Return -14.93% 1 Year -14.86% 3 Year -0.82% 5 Year 1.21% 10 Year 2.55% Since Inception 6.47% Date of Inception 06/01/1972 Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Thrivent Limited Maturity Bond Fund	-4.44%	-4.71%	0.18%	1.06%	1.28%	2.78%	10/29/1999	0.56%	0.56%
YTD Return -4.44% 1 Year -4.71% 3 Year 0.18% 5 Year 1.06% 10 Year 1.28% Since Inception 2.78% Date of Inception 10/29/1999 Gross Expense Ratio 0.56% Net Expense Ratio 0.56%
Thrivent Money Market Fund²	0.00%	0.00%	0.37%	0.71%	0.35%	2.60%	03/10/1988	0.49%	0.44%
YTD Return 0.00% 1 Year 0.00% 3 Year 0.37% 5 Year 0.71% 10 Year 0.35% Since Inception 2.60% Date of Inception 03/10/1988 Gross Expense Ratio 0.49% Net Expense Ratio 0.44%
Thrivent Municipal Bond Fund	-10.45%	-10.23%	-0.78%	0.82%	1.88%	5.13%	12/03/1976	0.74%	0.74%
YTD Return -10.45% 1 Year -10.23% 3 Year -0.78% 5 Year 0.82% 10 Year 1.88% Since Inception 5.13% Date of Inception 12/03/1976 Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Money Market 7-Day Current Yield With Reimbursement³ : 1.31%
Money Market 7-Day Current Yield Without Reimbursement³ : 1.26%

All returns represent past performance. Past performance does not guarantee future results. The value of an investment fluctuates so that shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the performance data quoted. Call 800-847-4836 or visit ThriventFunds.com for performance results current to the most recent month-end. When calling, say "ThriventFunds.com" for faster service.

The performance data shown does not reflect the deduction of the sales charge. The current maximum sales charge is 4.5%, except for Thrivent Government Bond Fund which has a max sales charge of 2.0% and the Thrivent Money Market Fund and Thrivent Limited Maturity Bond Fund which has no sales charge. If reflected, the sales charge would reduce the performance quoted.

You could lose money by investing in Thrivent Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

Fund Name	YTD Return	1 Year	3 Year	5 Year	10 Year	Since Inception	Date of Inception	Gross Expense Ratio	Net Expense Ratio
Thrivent Aggressive Allocation Fund¹	-13.64%	-9.60%	8.91%	8.65%	10.32%	7.79%	06/30/2005	1.19%	0.99%
YTD Return -13.64% 1 Year -9.60% 3 Year 8.91% 5 Year 8.65% 10 Year 10.32% Since Inception 7.79% Date of Inception 06/30/2005 Gross Expense Ratio 1.19% Net Expense Ratio 0.99%
Thrivent Moderately Aggressive Allocation Fund¹	-13.21%	-9.82%	6.76%	6.92%	8.66%	6.94%	06/30/2005	1.13%	0.89%
YTD Return -13.21% 1 Year -9.82% 3 Year 6.76% 5 Year 6.92% 10 Year 8.66% Since Inception 6.94% Date of Inception 06/30/2005 Gross Expense Ratio 1.13% Net Expense Ratio 0.89%
Thrivent Moderate Allocation Fund¹	-11.89%	-9.18%	5.69%	5.87%	7.09%	6.22%	06/30/2005	0.99%	0.79%
YTD Return -11.89% 1 Year -9.18% 3 Year 5.69% 5 Year 5.87% 10 Year 7.09% Since Inception 6.22% Date of Inception 06/30/2005 Gross Expense Ratio 0.99% Net Expense Ratio 0.79%
Thrivent Moderately Conservative Allocation Fund¹	-10.76%	-9.29%	2.96%	3.83%	4.99%	4.98%	06/30/2005	0.91%	0.77%
YTD Return -10.76% 1 Year -9.29% 3 Year 2.96% 5 Year 3.83% 10 Year 4.99% Since Inception 4.98% Date of Inception 06/30/2005 Gross Expense Ratio 0.91% Net Expense Ratio 0.77%
Thrivent Balanced Income Plus Fund⁴	-9.92%	-7.54%	4.95%	4.99%	7.01%	5.84%	12/29/1997	0.77%	0.77%
YTD Return -9.92% 1 Year -7.54% 3 Year 4.95% 5 Year 4.99% 10 Year 7.01% Since Inception 5.84% Date of Inception 12/29/1997 Gross Expense Ratio 0.77% Net Expense Ratio 0.77%
Thrivent Diversified Income Plus Fund	-8.51%	-7.36%	2.61%	3.40%	4.82%	4.68%	12/29/1997	0.71%	0.71%
YTD Return -8.51% 1 Year -7.36% 3 Year 2.61% 5 Year 3.40% 10 Year 4.82% Since Inception 4.68% Date of Inception 12/29/1997 Gross Expense Ratio 0.71% Net Expense Ratio 0.71%
Thrivent Opportunity Income Plus Fund⁵	-7.84%	-7.66%	-0.30%	1.23%	2.06%	4.15%	12/29/1997	0.63%	0.63%
YTD Return -7.84% 1 Year -7.66% 3 Year -0.30% 5 Year 1.23% 10 Year 2.06% Since Inception 4.15% Date of Inception 12/29/1997 Gross Expense Ratio 0.63% Net Expense Ratio 0.63%
Thrivent Global Stock Fund	-14.85%	-10.88%	8.39%	7.25%	9.73%	5.99%	12/29/1997	0.65%	0.65%
YTD Return -14.85% 1 Year -10.88% 3 Year 8.39% 5 Year 7.25% 10 Year 9.73% Since Inception 5.99% Date of Inception 12/29/1997 Gross Expense Ratio 0.65% Net Expense Ratio 0.65%
Thrivent International Allocation Fund	-16.58%	-15.11%	2.59%	1.24%	4.72%	2.34%	02/29/2008	0.82%	0.82%
YTD Return -16.58% 1 Year -15.11% 3 Year 2.59% 5 Year 1.24% 10 Year 4.72% Since Inception 2.34% Date of Inception 02/29/2008 Gross Expense Ratio 0.82% Net Expense Ratio 0.82%
Thrivent Large Cap Growth Fund	-22.76%	-19.01%	13.40%	14.59%	14.80%	6.06%	10/29/1999	0.73%	0.73%
YTD Return -22.76% 1 Year -19.01% 3 Year 13.40% 5 Year 14.59% 10 Year 14.80% Since Inception 6.06% Date of Inception 10/29/1999 Gross Expense Ratio 0.73% Net Expense Ratio 0.73%
Thrivent Large Cap Value Fund	-5.29%	2.49%	12.11%	10.30%	12.08%	6.69%	10/29/1999	0.54%	0.54%
YTD Return -5.29% 1 Year 2.49% 3 Year 12.11% 5 Year 10.30% 10 Year 12.08% Since Inception 6.69% Date of Inception 10/29/1999 Gross Expense Ratio 0.54% Net Expense Ratio 0.54%
Thrivent Low Volatility Equity Fund²	-9.66%	-4.56%	5.44%	6.62%	N/A	7.02%	02/28/2017	1.43%	0.95%
YTD Return -9.66% 1 Year -4.56% 3 Year 5.44% 5 Year 6.62% 10 Year N/A Since Inception 7.02% Date of Inception 02/28/2017 Gross Expense Ratio 1.43% Net Expense Ratio 0.95%
Thrivent Mid Cap Growth Fund²	-23.25%	-22.45%	N/A	N/A	N/A	12.00%	02/28/2020	2.33%	0.90%
YTD Return -23.25% 1 Year -22.45% 3 Year N/A 5 Year N/A 10 Year N/A Since Inception 12.00% Date of Inception 02/28/2020 Gross Expense Ratio 2.33% Net Expense Ratio 0.90%
Thrivent Mid Cap Stock Fund	-13.83%	-7.35%	12.25%	10.82%	14.34%	9.53%	12/29/1997	0.74%	0.74%
YTD Return -13.83% 1 Year -7.35% 3 Year 12.25% 5 Year 10.82% 10 Year 14.34% Since Inception 9.53% Date of Inception 12/29/1997 Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Thrivent Mid Cap Value Fund²	-2.87%	5.48%	N/A	N/A	N/A	22.51%	02/28/2020	2.73%	0.90%
YTD Return -2.87% 1 Year 5.48% 3 Year N/A 5 Year N/A 10 Year N/A Since Inception 22.51% Date of Inception 02/28/2020 Gross Expense Ratio 2.73% Net Expense Ratio 0.90%
Thrivent Small Cap Growth Fund²	-19.38%	-19.50%	12.92%	N/A	N/A	12.36%	02/28/2018	1.21%	0.95%
YTD Return -19.38% 1 Year -19.50% 3 Year 12.92% 5 Year N/A 10 Year N/A Since Inception 12.36% Date of Inception 02/28/2018 Gross Expense Ratio 1.21% Net Expense Ratio 0.95%
Thrivent Small Cap Stock Fund	-8.44%	-5.23%	14.34%	12.31%	13.68%	9.23%	12/29/1997	0.80%	0.80%
YTD Return -8.44% 1 Year -5.23% 3 Year 14.34% 5 Year 12.31% 10 Year 13.68% Since Inception 9.23% Date of Inception 12/29/1997 Gross Expense Ratio 0.80% Net Expense Ratio 0.80%
Thrivent Government Bond Fund²	-5.35%	-6.28%	0.19%	1.14%	1.12%	2.16%	02/26/2010	0.65%	0.55%
YTD Return -5.35% 1 Year -6.28% 3 Year 0.19% 5 Year 1.14% 10 Year 1.12% Since Inception 2.16% Date of Inception 02/26/2010 Gross Expense Ratio 0.65% Net Expense Ratio 0.55%
Thrivent High Income Municipal Bond Fund²	-11.18%	-11.38%	-0.08%	N/A	N/A	2.28%	02/28/2018	1.37%	0.60%
YTD Return -11.18% 1 Year -11.38% 3 Year -0.08% 5 Year N/A 10 Year N/A Since Inception 2.28% Date of Inception 02/28/2018 Gross Expense Ratio 1.37% Net Expense Ratio 0.60%
Thrivent High Yield Fund	-8.27%	-7.12%	0.57%	2.02%	3.93%	4.51%	10/31/1997	0.52%	0.52%
YTD Return -8.27% 1 Year -7.12% 3 Year 0.57% 5 Year 2.02% 10 Year 3.93% Since Inception 4.51% Date of Inception 10/31/1997 Gross Expense Ratio 0.52% Net Expense Ratio 0.52%
Thrivent Income Fund	-11.72%	-12.61%	0.44%	2.07%	3.01%	4.78%	10/31/1997	0.46%	0.46%
YTD Return -11.72% 1 Year -12.61% 3 Year 0.44% 5 Year 2.07% 10 Year 3.01% Since Inception 4.78% Date of Inception 10/31/1997 Gross Expense Ratio 0.46% Net Expense Ratio 0.46%
Thrivent Limited Maturity Bond Fund	-3.41%	-3.80%	0.64%	1.37%	1.52%	3.09%	10/29/1999	0.41%	0.41%
YTD Return -3.41% 1 Year -3.80% 3 Year 0.64% 5 Year 1.37% 10 Year 1.52% Since Inception 3.09% Date of Inception 10/29/1999 Gross Expense Ratio 0.41% Net Expense Ratio 0.41%
Thrivent Money Market Fund	0.08%	0.08%	0.36%	0.81%	0.42%	1.75%	12/29/1997	0.40%	0.40%
YTD Return 0.08% 1 Year 0.08% 3 Year 0.36% 5 Year 0.81% 10 Year 0.42% Since Inception 1.75% Date of Inception 12/29/1997 Gross Expense Ratio 0.40% Net Expense Ratio 0.40%
Thrivent Multidimensional Income Fund²	-10.39%	-9.98%	1.29%	2.11%	N/A	2.53%	02/28/2017	1.36%	0.98%
YTD Return -10.39% 1 Year -9.98% 3 Year 1.29% 5 Year 2.11% 10 Year N/A Since Inception 2.53% Date of Inception 02/28/2017 Gross Expense Ratio 1.36% Net Expense Ratio 0.98%
Thrivent Municipal Bond Fund	-7.77%	-8.13%	0.12%	1.51%	2.23%	4.12%	10/31/1997	0.54%	0.54%
YTD Return -7.77% 1 Year -8.13% 3 Year 0.12% 5 Year 1.51% 10 Year 2.23% Since Inception 4.12% Date of Inception 10/31/1997 Gross Expense Ratio 0.54% Net Expense Ratio 0.54%
Money Market 7-Day Current Yield With Reimbursement³ : 1.35%
Money Market 7-Day Current Yield Without Reimbursement³ : 1.35%

All returns represent past performance. Past performance does not guarantee future results. The value of an investment fluctuates so that shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the performance data quoted. Call 800-847-4836 or visit ThriventFunds.com for performance results current to the most recent month-end. When calling, say "ThriventFunds.com" for faster service.

You could lose money by investing in Thrivent Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

Fund Name	YTD Return	1 Year	3 Year	5 Year	10 Year	Since Inception	Date of Inception	Gross Expense Ratio	Net Expense Ratio
Thrivent Aggressive Allocation Fund¹	-19.94%	-14.72%	6.24%	7.43%	9.60%	7.35%	06/30/2005	1.19%	0.99%
YTD Return -19.94% 1 Year -14.72% 3 Year 6.24% 5 Year 7.43% 10 Year 9.60% Since Inception 7.35% Date of Inception 06/30/2005 Gross Expense Ratio 1.19% Net Expense Ratio 0.99%
Thrivent Moderately Aggressive Allocation Fund¹	-19.03%	-14.28%	4.46%	5.79%	8.01%	6.54%	06/30/2005	1.13%	0.89%
YTD Return -19.03% 1 Year -14.28% 3 Year 4.46% 5 Year 5.79% 10 Year 8.01% Since Inception 6.54% Date of Inception 06/30/2005 Gross Expense Ratio 1.13% Net Expense Ratio 0.89%
Thrivent Moderate Allocation Fund¹	-17.32%	-13.42%	3.59%	4.81%	6.55%	5.85%	06/30/2005	0.99%	0.79%
YTD Return -17.32% 1 Year -13.42% 3 Year 3.59% 5 Year 4.81% 10 Year 6.55% Since Inception 5.85% Date of Inception 06/30/2005 Gross Expense Ratio 0.99% Net Expense Ratio 0.79%
Thrivent Moderately Conservative Allocation Fund¹	-14.97%	-12.57%	1.45%	3.04%	4.63%	4.71%	06/30/2005	0.91%	0.77%
YTD Return -14.97% 1 Year -12.57% 3 Year 1.45% 5 Year 3.04% 10 Year 4.63% Since Inception 4.71% Date of Inception 06/30/2005 Gross Expense Ratio 0.91% Net Expense Ratio 0.77%
Thrivent Balanced Income Plus Fund⁴	-14.10%	-10.76%	3.41%	4.24%	6.55%	5.66%	12/29/1997	0.77%	0.77%
YTD Return -14.10% 1 Year -10.76% 3 Year 3.41% 5 Year 4.24% 10 Year 6.55% Since Inception 5.66% Date of Inception 12/29/1997 Gross Expense Ratio 0.77% Net Expense Ratio 0.77%
Thrivent Diversified Income Plus Fund	-12.20%	-10.39%	1.30%	2.74%	4.59%	4.52%	12/29/1997	0.71%	0.71%
YTD Return -12.20% 1 Year -10.39% 3 Year 1.30% 5 Year 2.74% 10 Year 4.59% Since Inception 4.52% Date of Inception 12/29/1997 Gross Expense Ratio 0.71% Net Expense Ratio 0.71%
Thrivent Opportunity Income Plus Fund⁵	-10.76%	-10.20%	-1.22%	0.71%	1.89%	4.03%	12/29/1997	0.63%	0.63%
YTD Return -10.76% 1 Year -10.20% 3 Year -1.22% 5 Year 0.71% 10 Year 1.89% Since Inception 4.03% Date of Inception 12/29/1997 Gross Expense Ratio 0.63% Net Expense Ratio 0.63%
Thrivent Global Stock Fund	-21.01%	-15.99%	5.50%	6.19%	9.01%	5.69%	12/29/1997	0.65%	0.65%
YTD Return -21.01% 1 Year -15.99% 3 Year 5.50% 5 Year 6.19% 10 Year 9.01% Since Inception 5.69% Date of Inception 12/29/1997 Gross Expense Ratio 0.65% Net Expense Ratio 0.65%
Thrivent International Allocation Fund	-20.52%	-17.96%	0.08%	0.80%	4.28%	2.01%	02/29/2008	0.82%	0.82%
YTD Return -20.52% 1 Year -17.96% 3 Year 0.08% 5 Year 0.80% 10 Year 4.28% Since Inception 2.01% Date of Inception 02/29/2008 Gross Expense Ratio 0.82% Net Expense Ratio 0.82%
Thrivent Large Cap Growth Fund	-31.52%	-26.36%	9.60%	12.44%	13.58%	5.52%	10/29/1999	0.73%	0.73%
YTD Return -31.52% 1 Year -26.36% 3 Year 9.60% 5 Year 12.44% 10 Year 13.58% Since Inception 5.52% Date of Inception 10/29/1999 Gross Expense Ratio 0.73% Net Expense Ratio 0.73%
Thrivent Large Cap Value Fund	-11.39%	-3.39%	9.98%	9.25%	11.46%	6.40%	10/29/1999	0.54%	0.54%
YTD Return -11.39% 1 Year -3.39% 3 Year 9.98% 5 Year 9.25% 10 Year 11.46% Since Inception 6.40% Date of Inception 10/29/1999 Gross Expense Ratio 0.54% Net Expense Ratio 0.54%
Thrivent Low Volatility Equity Fund²	-13.55%	-5.76%	3.76%	5.95%	N/A	6.25%	02/28/2017	1.43%	0.95%
YTD Return -13.55% 1 Year -5.76% 3 Year 3.76% 5 Year 5.95% 10 Year N/A Since Inception 6.25% Date of Inception 02/28/2017 Gross Expense Ratio 1.43% Net Expense Ratio 0.95%
Thrivent Mid Cap Growth Fund²	-31.49%	-28.83%	N/A	N/A	N/A	7.09%	02/28/2020	2.33%	0.90%
YTD Return -31.49% 1 Year -28.83% 3 Year N/A 5 Year N/A 10 Year N/A Since Inception 7.09% Date of Inception 02/28/2020 Gross Expense Ratio 2.33% Net Expense Ratio 0.90%
Thrivent Mid Cap Stock Fund	-22.48%	-15.16%	9.15%	8.49%	13.14%	9.09%	12/29/1997	0.74%	0.74%
YTD Return -22.48% 1 Year -15.16% 3 Year 9.15% 5 Year 8.49% 10 Year 13.14% Since Inception 9.09% Date of Inception 12/29/1997 Gross Expense Ratio 0.74% Net Expense Ratio 0.74%
Thrivent Mid Cap Value Fund²	-9.73%	-2.34%	N/A	N/A	N/A	19.55%	02/28/2020	2.73%	0.90%
YTD Return -9.73% 1 Year -2.34% 3 Year N/A 5 Year N/A 10 Year N/A Since Inception 19.55% Date of Inception 02/28/2020 Gross Expense Ratio 2.73% Net Expense Ratio 0.90%
Thrivent Small Cap Growth Fund²	-29.22%	-28.43%	8.25%	N/A	N/A	9.27%	02/28/2018	1.21%	0.95%
YTD Return -29.22% 1 Year -28.43% 3 Year 8.25% 5 Year N/A 10 Year N/A Since Inception 9.27% Date of Inception 02/28/2018 Gross Expense Ratio 1.21% Net Expense Ratio 0.95%
Thrivent Small Cap Stock Fund	-15.12%	-12.32%	11.43%	10.71%	12.94%	8.93%	12/29/1997	0.80%	0.80%
YTD Return -15.12% 1 Year -12.32% 3 Year 11.43% 5 Year 10.71% 10 Year 12.94% Since Inception 8.93% Date of Inception 12/29/1997 Gross Expense Ratio 0.80% Net Expense Ratio 0.80%
Thrivent Government Bond Fund²	-7.24%	-7.24%	-0.45%	0.80%	1.02%	2.01%	02/26/2010	0.65%	0.55%
YTD Return -7.24% 1 Year -7.24% 3 Year -0.45% 5 Year 0.80% 10 Year 1.02% Since Inception 2.01% Date of Inception 02/26/2010 Gross Expense Ratio 0.65% Net Expense Ratio 0.55%
Thrivent High Income Municipal Bond Fund²	-14.59%	-13.77%	-1.10%	N/A	N/A	1.41%	02/28/2018	1.37%	0.60%
YTD Return -14.59% 1 Year -13.77% 3 Year -1.10% 5 Year N/A 10 Year N/A Since Inception 1.41% Date of Inception 02/28/2018 Gross Expense Ratio 1.37% Net Expense Ratio 0.60%
Thrivent High Yield Fund	-13.48%	-12.26%	-1.21%	1.09%	3.54%	4.28%	10/31/1997	0.52%	0.52%
YTD Return -13.48% 1 Year -12.26% 3 Year -1.21% 5 Year 1.09% 10 Year 3.54% Since Inception 4.28% Date of Inception 10/31/1997 Gross Expense Ratio 0.52% Net Expense Ratio 0.52%
Thrivent Income Fund	-14.82%	-14.63%	-0.55%	1.49%	2.88%	4.65%	10/31/1997	0.46%	0.46%
YTD Return -14.82% 1 Year -14.63% 3 Year -0.55% 5 Year 1.49% 10 Year 2.88% Since Inception 4.65% Date of Inception 10/31/1997 Gross Expense Ratio 0.46% Net Expense Ratio 0.46%
Thrivent Limited Maturity Bond Fund	-4.36%	-4.56%	0.36%	1.25%	1.48%	3.06%	10/29/1999	0.41%	0.41%
YTD Return -4.36% 1 Year -4.56% 3 Year 0.36% 5 Year 1.25% 10 Year 1.48% Since Inception 3.06% Date of Inception 10/29/1999 Gross Expense Ratio 0.41% Net Expense Ratio 0.41%
Thrivent Money Market Fund	0.00%	0.00%	0.39%	0.80%	0.41%	1.75%	12/29/1997	0.40%	0.40%
YTD Return 0.00% 1 Year 0.00% 3 Year 0.39% 5 Year 0.80% 10 Year 0.41% Since Inception 1.75% Date of Inception 12/29/1997 Gross Expense Ratio 0.40% Net Expense Ratio 0.40%
Thrivent Multidimensional Income Fund²	-14.82%	-14.27%	-0.14%	1.28%	N/A	1.60%	02/28/2017	1.36%	0.98%
YTD Return -14.82% 1 Year -14.27% 3 Year -0.14% 5 Year 1.28% 10 Year N/A Since Inception 1.60% Date of Inception 02/28/2017 Gross Expense Ratio 1.36% Net Expense Ratio 0.98%
Thrivent Municipal Bond Fund	-10.36%	-9.97%	-0.58%	1.03%	2.12%	4.02%	10/31/1997	0.54%	0.54%
YTD Return -10.36% 1 Year -9.97% 3 Year -0.58% 5 Year 1.03% 10 Year 2.12% Since Inception 4.02% Date of Inception 10/31/1997 Gross Expense Ratio 0.54% Net Expense Ratio 0.54%
Money Market 7-Day Current Yield With Reimbursement³ : 1.35%
Money Market 7-Day Current Yield Without Reimbursement³ : 1.35%

All returns represent past performance. Past performance does not guarantee future results. The value of an investment fluctuates so that shares, when redeemed, may be worth more or less than the original investment. Current performance may be lower or higher than the performance data quoted. Call 800-847-4836 or visit ThriventFunds.com for performance results current to the most recent month-end. When calling, say "ThriventFunds.com" for faster service.

You could lose money by investing in Thrivent Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

Morningstar

Thrivent Mutual Fund Name(Morningstar Category)	Overall Morningstar Rating^™	3-Year	5-Year	10-Year
Thrivent Small Cap Stock Fund (Small Blend) # Peer Funds:	572	572	530	352
Overall Morningstar Rating^™ # Peer Funds: 572 3-Year # Peer Funds: 572 5-Year # Peer Funds: 530 10-Year # Peer Funds: 352
Thrivent Small Cap Growth Fund² (Small Growth) # Peer Funds:	585	585	N/A	N/A
Overall Morningstar Rating^™ # Peer Funds: 585 3-Year # Peer Funds: 585 5-Year # Peer Funds: N/A 10-Year # Peer Funds: N/A
Thrivent Balanced Income Plus Fund (Allocation--30% to 50% Equity) # Peer Funds:	427	427	392	284
Overall Morningstar Rating^™ # Peer Funds: 427 3-Year # Peer Funds: 427 5-Year # Peer Funds: 392 10-Year # Peer Funds: 284
Thrivent Mid Cap Stock Fund (Mid-Cap Blend) # Peer Funds:	366	366	325	217
Overall Morningstar Rating^™ # Peer Funds: 366 3-Year # Peer Funds: 366 5-Year # Peer Funds: 325 10-Year # Peer Funds: 217
Thrivent Income Fund (Corporate Bond) # Peer Funds:	188	188	165	93
Overall Morningstar Rating^™ # Peer Funds: 188 3-Year # Peer Funds: 188 5-Year # Peer Funds: 165 10-Year # Peer Funds: 93
Thrivent Aggressive Allocation Fund¹ (Allocation--85%+ Equity) # Peer Funds:	176	176	162	118
Overall Morningstar Rating^™ # Peer Funds: 176 3-Year # Peer Funds: 176 5-Year # Peer Funds: 162 10-Year # Peer Funds: 118
Thrivent Large Cap Value Fund (Large Value) # Peer Funds:	1,154	1,154	1,081	781
Overall Morningstar Rating^™ # Peer Funds: 1,154 3-Year # Peer Funds: 1,154 5-Year # Peer Funds: 1,081 10-Year # Peer Funds: 781
Thrivent Government Bond Fund² (Intermediate Government) # Peer Funds:	226	226	214	178
Overall Morningstar Rating^™ # Peer Funds: 226 3-Year # Peer Funds: 226 5-Year # Peer Funds: 214 10-Year # Peer Funds: 178
Thrivent Diversified Income Plus Fund (Allocation--15% to 30% Equity) # Peer Funds:	131	131	122	85
Overall Morningstar Rating^™ # Peer Funds: 131 3-Year # Peer Funds: 131 5-Year # Peer Funds: 122 10-Year # Peer Funds: 85
Thrivent Large Cap Growth Fund (Large Growth) # Peer Funds:	1,137	1,137	1,050	788
Overall Morningstar Rating^™ # Peer Funds: 1,137 3-Year # Peer Funds: 1,137 5-Year # Peer Funds: 1,050 10-Year # Peer Funds: 788
Thrivent Moderately Aggressive Allocation Fund¹ (Allocation--70% to 85% Equity) # Peer Funds:	307	307	279	222
Overall Morningstar Rating^™ # Peer Funds: 307 3-Year # Peer Funds: 307 5-Year # Peer Funds: 279 10-Year # Peer Funds: 222
Thrivent Limited Maturity Bond Fund (Short-Term Bond) # Peer Funds:	550	550	487	334
Overall Morningstar Rating^™ # Peer Funds: 550 3-Year # Peer Funds: 550 5-Year # Peer Funds: 487 10-Year # Peer Funds: 334

The Morningstar Rating^TM 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.

© 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.

Thrivent Balanced Income Plus Fund changed their investment strategies August 16, 2013; 10-year peer group comparisons are less relevant than other time periods.

¹ The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. Refer to the expense table in the Fund's prospectus.

² 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.

Thrivent Mutual Fund Name(Morningstar Category)	Overall Morningstar Rating^™	3-Year	5-Year	10-Year
Thrivent Small Cap Stock Fund (Small Blend) # Peer Funds:	572	572	530	352
Overall Morningstar Rating^™ # Peer Funds: 572 3-Year # Peer Funds: 572 5-Year # Peer Funds: 530 10-Year # Peer Funds: 352
Thrivent Mid Cap Stock Fund (Mid-Cap Blend) # Peer Funds:	366	366	325	217
Overall Morningstar Rating^™ # Peer Funds: 366 3-Year # Peer Funds: 366 5-Year # Peer Funds: 325 10-Year # Peer Funds: 217
Thrivent Aggressive Allocation Fund¹ (Allocation--85%+ Equity) # Peer Funds:	176	176	162	118
Overall Morningstar Rating^™ # Peer Funds: 176 3-Year # Peer Funds: 176 5-Year # Peer Funds: 162 10-Year # Peer Funds: 118
Thrivent Government Bond Fund² (Intermediate Government) # Peer Funds:	226	226	214	178
Overall Morningstar Rating^™ # Peer Funds: 226 3-Year # Peer Funds: 226 5-Year # Peer Funds: 214 10-Year # Peer Funds: 178
Thrivent Income Fund (Corporate Bond) # Peer Funds:	188	188	165	93
Overall Morningstar Rating^™ # Peer Funds: 188 3-Year # Peer Funds: 188 5-Year # Peer Funds: 165 10-Year # Peer Funds: 93
Thrivent Balanced Income Plus Fund (Allocation--30% to 50% Equity) # Peer Funds:	427	427	392	284
Overall Morningstar Rating^™ # Peer Funds: 427 3-Year # Peer Funds: 427 5-Year # Peer Funds: 392 10-Year # Peer Funds: 284
Thrivent Diversified Income Plus Fund (Allocation--15% to 30% Equity) # Peer Funds:	131	131	122	85
Overall Morningstar Rating^™ # Peer Funds: 131 3-Year # Peer Funds: 131 5-Year # Peer Funds: 122 10-Year # Peer Funds: 85

The Morningstar Rating^TM 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.

© 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.

Thrivent Balanced Income Plus Fund changed their investment strategies August 16, 2013; 10-year peer group comparisons are less relevant than other time periods.

¹ The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. Refer to the expense table in the Fund's prospectus.

² 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.

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Thrivent Mutual Funds

Average Annual Total Returns

1The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

2The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

3The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

4Performance shown reflects the current maximum sales charge of 4.50%. Prior to February 29, 2016, the maximum sales charge was 5.50%; however, the prior rate is not reflected for periods that began prior to that date.

5Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

6Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

1The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

2The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

3The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

4Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

5Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

1The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

2The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

3The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

4Performance shown reflects the current maximum sales charge of 4.50%. Prior to February 29, 2016, the maximum sales charge was 5.50%; however, the prior rate is not reflected for periods that began prior to that date.

5Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

6Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

1The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

2The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

3The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

4Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

5Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

1The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

2The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

3The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

4Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

5Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

1The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

2The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

3The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

4Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

5Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

Thrivent Mutual Funds Has Star Power

Thrivent Balanced Income Plus Fund changed their investment strategies August 16, 2013; 10-year peer group comparisons are less relevant than other time periods.

1 The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. Refer to the expense table in the Fund's prospectus.

Thrivent Balanced Income Plus Fund changed their investment strategies August 16, 2013; 10-year peer group comparisons are less relevant than other time periods.

1 The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. Refer to the expense table in the Fund's prospectus.

Asset Allocation Funds - Class S

Income Plus Funds - Class S

Equity Funds - Class S

Fixed Income Funds - Class S

Asset Allocation Funds - Class A

Income Plus Funds - Class A

Equity Funds - Class A

Fixed Income Funds - Class A

Thrivent Mutual Funds - Consolidated Fund Facts - Class S

Thrivent Mutual Funds - Consolidated Fund Facts - Class A

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Performance shown reflects the current maximum sales charge of 4.50%. Prior to February 29, 2016, the maximum sales charge was 5.50%; however, the prior rate is not reflected for periods that began prior to that date.

⁵Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁶Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Performance shown reflects the current maximum sales charge of 4.50%. Prior to February 29, 2016, the maximum sales charge was 5.50%; however, the prior rate is not reflected for periods that began prior to that date.

⁵Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁶Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

¹The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

²The 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. If not waived, returns would have been lower. Refer to the Fees & Expenses table in the prospectus.

³The yield quotation more closely reflects the current earnings of the Thrivent Money Market Fund than the total return quotation. The 7-Day Yield Without Reimbursement is the yield without any fee reimbursements applied.

⁴Effective August 16, 2013, Thrivent Balanced Income Plus Fund changed its investment strategy; 10-year peer group comparisons are less relevant than other time periods.

⁵Effective August 16, 2013, Thrivent Opportunity Income Plus Fund changed investment strategy; 10-year peer group comparisons are less relevant than other time periods.

¹ The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. Refer to the expense table in the Fund's prospectus.

¹ The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive certain investment advisory fees associated with the Fund. Refer to the expense table in the Fund's prospectus.