Thrivent Aggressive Allocation Fund (TAAAX)
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
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
These are front-end load funds, and they are not available for purchase on thriventfunds.com. You may be eligible to purchase these shares if you work with a financial professional.
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
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
These are front-end load funds, and they are not available for purchase on thriventfunds.com. You may be eligible to purchase these shares if you work with a financial professional.

Fund Overview
Thrivent Aggressive Allocation Fund seeks long-term capital growth.
This fund, the most aggressive in Thrivent Mutual Fund’s suite of Asset Allocation Funds, is designed for investors with the longest time horizon and highest risk tolerance. The Fund is globally diversified across major equity and fixed income sectors and styles. The Fund is actively managed and invests in a combination of other funds managed by the Adviser or an affiliate and direct investments in stocks, bonds, and derivatives.
The Fund has a long-term target allocation of 95% equity securities and 5% fixed income. The Fund’s asset allocation strategy starts with the construction of a model that sets the long-term target allocations for the broad asset classes of equity and fixed income. Next, the target weightings for sub-classes are determined. Equity sub-classes are often based on market capitalization (large, mid, and small), investment style (such as growth and value), economic sector and world region. The Fund may invest in emerging markets. Fixed income sub-classes may be based on maturity, duration, credit quality and security type. The portfolio management team actively manages the Fund with overweight and underweight positions in the various sub-classes based on their views of the market and economy. Individual stocks and bonds are analyzed and selected on an ongoing basis. The Fund is regularly rebalanced to ensure that the holdings are within appropriate ranges.
The Fund invests in other funds managed by the Adviser or an affiliate and in directly-held equity and debt instruments. The Fund is dependent upon the performance of the other funds and is subject to the risks and additional fees and expenses of the other funds. The Fund’s value is influenced by a number of factors, including the performance of the broader market, the effectiveness of the Adviser’s allocation strategy, and risks specific to the Fund’s asset classes, market cap groups, investment styles, and issuers. Foreign investments involve additional risks, such as currency fluctuations and political, economic and market instability, which may be magnified for investments in emerging markets. The Adviser's assessment of investments may prove incorrect, resulting in losses or poor performance. The Adviser is also subject to actual or potential conflicts of interest. The use of quantitative investing techniques and derivatives such as futures also involve risks. These and other risks are described in the prospectus.
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.
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.
Target Allocation
Target Allocation
Shows a fund’s long-term target allocations (or mix of securities) based on asset class or world region. Target allocation subject to change.
Target Allocation
Shows a fund’s long-term target allocations (or mix of securities) based on asset class or world region. Target allocation subject to change.
Fund Highlights
Public Offering Price
The price at which the fund is offered to the public.
Net Asset Value (NAV)
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. 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.
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.
Sales Charges
The commission paid by an investor upon investment in a fund.
Public Offering Price
The price at which the fund is offered to the public.
Net Asset Value (NAV)
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. 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.
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.
Sales Charges
The commission paid by an investor upon investment in a fund.
(as of 12/31/2020)
Who Should Consider Investing?
The Fund may be suitable for investors who:
- Seek long-term growth
- Have a long-term investment time horizon and an aggressive risk tolerance
- Are able to withstand a high level of risk and volatility in pursuit of potentially high long-term returns
Fund Management
Our seasoned team of more than 110 investment professionals brings their deep expertise to managing each fund so you can feel confident in the choices you’re making. More than 80% have at least 10 years of experience, over 50% have more than 20 years of investment experience, and over 83% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

Looking at how this fund has performed over time, and comparing to appropriate benchmarks, can help you determine if it’s right for your needs.
Average Annualized Returns
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.
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.
Periods less than one year are not annualized.
Expenses
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.
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.
Calendar Year Performance
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, but does not include any sales charge paid. Periods of less than one year are not shown.
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, but does not include any sales charge paid. Periods of less than one year are not shown.
(as of 12/31/2020)
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 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.
*All performance shown reflects the current maximum sales charge of 4.5%. Prior to 2/29/2016, the maximum sales charge was 5.5%; however, the prior rate is not reflected for periods that began prior to that date.
1Source: Lipper. The Lipper median represents the median annualized total return for all reported funds in the classification. Lipper medians do not include sales charges/fees. If included, returns would have been lower. Calendar year performance is not available prior to 2014 as this Lipper category did not exist prior to then.
Benchmarks
Indexes are unmanaged and do not reflect the fees and expenses associated with active management. Investments cannot be made directly into an index.
Lipper Mixed-Asset Target Allocation Aggressive Growth Median *Source: Lipper LANA. The Lipper median represents the median annualized total return for all reported funds in the classification. Lipper medians do not include sales charges/fees. If included, returns would have been lower
The S&P 500® Index is a market-cap weighted index that represents the average performance of a group of 500 large-capitalization stocks.
The Bloomberg Barclays U.S. Aggregate Bond Index is an index that measures the performance of U.S. investment grade bonds.
The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex-USA - USD Net Returns is an index that is designed to measure equity market performance in all global developed and emerging markets outside of the U.S.

Information about the types of holdings in this mutual fund.
Holdings Breakdown
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.
U.S. Holdings
This is the percentage of the fund’s holdings that are U.S.-based investments.
Non-U.S. Holdings
This is the percentage of the fund’s holdings that are investments based outside the U.S.
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.
U.S. Holdings
This is the percentage of the fund’s holdings that are U.S.-based investments.
Non-U.S. Holdings
This is the percentage of the fund’s holdings that are investments based outside the U.S.
(as of 12/31/2020)
Top 10 Holdings
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)
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)
(as of 11/30/2020)
Security Name | Percentage of Total Assets | Maturity Date | Coupon Rate |
---|---|---|---|
Thrivent Large Cap Growth Fund, Class S | 8.85% | - | - |
Thrivent International Allocation Fund, Class S | 7.85% | - | - |
Thrivent Mid Cap Stock Fund, Class S | 5.76% | - | - |
Thrivent Core Low Volatility Equity Fund | 5.61% | - | - |
Thrivent Large Cap Value Fund, Class S | 4.54% | - | - |
Thrivent Core International Equity Fund | 3.98% | - | - |
Thrivent Core Emerging Markets Equity Fund | 2.99% | - | - |
Thrivent Global Stock Fund, Class S | 2.64% | - | - |
Thrivent Small Cap Stock Fund, Class S | 2.44% | - | - |
U.S. Treasury Notes | 1.16% | 02/28/2026 | 2.5% |
Fund Diversification
This is the mix of areas in the market in which the fund contains holdings. (updated quarterly)
This is the mix of areas in the market in which the fund contains holdings. (updated quarterly)
(as of 12/31/2020)
-
Large Cap Equity 48.8%
-
Mid Cap Equity 9.4%
-
Small Cap Equity 12.7%
-
International Equity 24.9%
-
High Yield Bonds 0.4%
-
Investment Grade Credit 0.3%
-
Securitized Debt 1.5%
-
Government Bonds 2.0%
Equity Characteristics
Statistics shown below are compared to the S&P 500® Index. The benchmark is intended to provide a comparison to the broad U.S. large cap stock market, and may not be representative of the Fund's investment strategies and holdings.
Statistics shown below are compared to the S&P 500® Index. The benchmark is intended to provide a comparison to the broad U.S. large cap stock market, and may not be representative of the Fund's investment strategies and holdings.
(as of 12/31/2020, 95.8% of fund)
Fixed Income
Characteristics
Statistics shown below are compared to the Bloomberg Barclays 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.
Statistics shown below are compared to the Bloomberg Barclays 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.
(as of 12/31/2020, 4.2% of fund)
Credit Quality Rating Distribution
These bond ratings represent the lower of those assigned by Fitch Ratings, Inc., Moody’s Investor Services, Inc. or Standard & Poor’s® Financial Services, LLC (S&P). Investments in derivatives and short-term investments aren't 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.
These bond ratings represent the lower of those assigned by Fitch Ratings, Inc., Moody’s Investor Services, Inc. or Standard & Poor’s® Financial Services, LLC (S&P). Investments in derivatives and short-term investments aren't 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.
(as of 12/31/2020)
High Quality (HQ) Bonds
Cash | 1.1% |
U.S. Government Guaranteed | 78.5% |
AAA | 1.2% |
AA | 0.2% |
A | 1.8% |
BBB | 6.1% |
High Yield (HY) Bonds
BB | 4.7% |
B | 3.8% |
CCC | 1.0% |
CC | 0.0% |
C | 0.0% |
D | 0.0% |
Non-Rated (NR) Bonds
Non-Rated | 1.3% |
May be HQ/HY/NR Bonds
ETFs/Closed-End Funds | 0.3% |
Beta Measurement
This chart compares the Fund to the S&P 500® over the past three years. The benchmark is intended to provide a comparison to the broad U.S. large cap stock market, and may not be representative of the Fund’s investment strategies and holdings. Beta is a statistical measure of the volatility, or market risk, of an investment compared to a benchmark. This chart also shows R-Squared, which helps indicate how meaningful the comparison may be.
Beta — A beta of 1.0 indicates that the Fund’s price would generally move with the market. A beta of greater than 1.0 indicates the Fund is more volatile than the market, while a beta of less than 1.0 indicates the Fund is typically less volatile than the market. For example, a beta of 1.2 would indicate that the Fund is generally 20% more volatile than the broad U.S. large cap stock market, while a beta of 0.8 would indicate that the Fund is generally 20% less volatile than the market.
R2 — R-Squared (or correlation squared) is used to indicate what percentage, from 0% to 100%, of the variation in a Fund’s return can be explained by the benchmark returns. It is used to help measure how similar a Fund is to the benchmark and how appropriate the benchmark is for other statistical comparisons. The lower the R2, the less meaningful statistics such as Beta will be.
This chart compares the Fund to the S&P 500® over the past three years. The benchmark is intended to provide a comparison to the broad U.S. large cap stock market, and may not be representative of the Fund’s investment strategies and holdings. Beta is a statistical measure of the volatility, or market risk, of an investment compared to a benchmark. This chart also shows R-Squared, which helps indicate how meaningful the comparison may be.
Beta — A beta of 1.0 indicates that the Fund’s price would generally move with the market. A beta of greater than 1.0 indicates the Fund is more volatile than the market, while a beta of less than 1.0 indicates the Fund is typically less volatile than the market. For example, a beta of 1.2 would indicate that the Fund is generally 20% more volatile than the broad U.S. large cap stock market, while a beta of 0.8 would indicate that the Fund is generally 20% less volatile than the market.
R2 — R-Squared (or correlation squared) is used to indicate what percentage, from 0% to 100%, of the variation in a Fund’s return can be explained by the benchmark returns. It is used to help measure how similar a Fund is to the benchmark and how appropriate the benchmark is for other statistical comparisons. The lower the R2, the less meaningful statistics such as Beta will be.
Using the S&P 500 Index as the benchmark, the graph is showing an R2 of 97%
Volatility Measures
(as of 12/31/2020)
Depending on the fund inception date, some data may not be available.
Dividend Distributions & Price History
(as of 12/31/2020)
Trailing 12-Months; Dividend Schedule: Paid Annually
Capital Gains - Trailing 12 Months
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.
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.
(as of 12/31/2020)
Record Date | Short Term Capital Gains | Long Term Capital Gains | Total |
---|---|---|---|
12/09/2020 | $0.0082 | $0.4594 | $0.4676 |
Record Date
12/09/2020
Short Term Capital Gains
$0.0082
Long Term Capital Gains
$0.4594
Total
$0.4676
|
Fees and Expenses
It’s important to understand investing costs because they can impact your net return. Here is a breakdown of applicable sales charges and annual operating expenses associated with this mutual fund. Other fees may apply for certain services or account types and are redeemed directly from your account. Examples include overnight delivery or wire fees and annual custodial fees on IRAs.
Annual Fund Operating Expenses
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
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 | 1.16% |
Distribution/12b-1 Fee | 0.25% |
Total Annual Fund Operating Expenses | 1.41% |
Less Waiver3 | (0.21%) |
Net Annual Fund Operating Expenses | 1.20% |
Other Fund Fees
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.
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.
Redemption Fee | None |
Transaction Fee | None |
Low Balance Fee4 | $10 semiannually |
Sales Charge
Max Front-End 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 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.
Max Front-End 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 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.
Max Front-End Charge5 | 4.5% |
Back-End Charge6 | None |
Minimum Investment
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 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 |
2 Turnover Ratio: 12-month rolling as of 11/30/2020. A measure of the Fund's trading activity which is calculated by dividing the lesser of long-term purchases or long-term sales by average long term market value.
3 The Adviser has contractually agreed, for as long as the current fee structure is in place, to waive fees and/or reimburse certain investment advisory fees associated with the Fund. Refer to the expense table in the Fund's prospectus or summary prospectus for details. If this waiver had not been in effect, performance would have been lower.
4 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.
5 For more information on how to reduce your Sales Charges.
6 If you invest $1,000,000 or more in Class A Shares and redeem those shares within one year (the "one-year time period"), a deferred back-end sales charge of 1% will apply to the net asset value of those shares, with the net asset value measured at the time of purchase (or sale, if lower).
Benchmarks
Indexes are unmanaged and do not reflect the fees and expenses associated with active management. Investments cannot be made directly into an index.
S&P 500® Index is a market-cap weighted index that represents the average performance of a group of 500 large-capitalization stocks.
Bloomberg Barclays US Aggregate Bond Index is an index measuring the performance of U.S. investment grade bonds.

Morningstar Information
Risk vs. Category
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
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
Return vs. Category
Morningstar return 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 return 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
Fixed Income Style Box
Thrivent Aggressive Allocation Fund appeared as a medium credit quality, moderate interest rate sensitivity fund on the Morningstar Style Box™ as of 10/30/2020.
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 Aggressive Allocation Fund appeared as a medium credit quality, moderate interest rate sensitivity fund on the Morningstar Style Box™ as of 10/30/2020.
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.
Equity Style Map
Thrivent Aggressive Allocation Fund appeared as a large market-cap style, blend investment style fund on the Morningstar Style Box™ as of 10/30/2020.
Thrivent Aggressive Allocation Fund appeared as a large market-cap style, blend investment style fund on the Morningstar Style Box™ as of 10/30/2020.
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 A share class only; other classes may have different performance characteristics. Please see the Performance tab for results as of the most recent month and quarter end.
The Morningstar RatingTM 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 Morningstar Style BoxTM reveals a fund’s investment strategy. For equity funds, the vertical axis of the Equity Style Map shows the market capitalization of the stocks owned (large, medium, or small) and the horizontal axis shows investment style (value, blend, or growth). 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.
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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.