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Thrivent Moderately Conservative Allocation Fund —
Class A
TCAAX
TCAAX
Thrivent Moderately Conservative Allocation Fund
Class
Risk profile
Conservative Aggressive
Target allocation
43% Equity
57% Fixed Income
Inception date
6/30/2005
As of
Public offering price
N/A
Net asset value
-
Daily NAV change
-
As of N/A
YTD return with sales charge
-4.26%
1-year return with sales charge
1.97%
As of 01/31/2024
Net annual fund operating expenses
1.01%
As of
Max sales charge
4.50%
As of
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Thrivent Moderately Conservative Allocation Fund seeks long-term capital growth while providing reasonable stability of principal.

This Fund, the most conservative option in Thrivent’s suite of Asset Allocation Funds, is designed for investors with a medium to long-term horizon and a moderately conservative 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 and direct investments in equity and debt instruments.

The Fund may be suitable for investors who:

  • Seek long-term growth and reasonable stability of principal
  • Have a medium to long-term investment time horizon and a moderately conservative risk tolerance
  • Are willing to accept lower long-term returns in order to have a low to moderate level of risk and volatility
Fund management

Our seasoned team of more than 140 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, more than 50% have more than 20 years of investment experience, and more than 80% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

  • David S. Royal
    David S. Royal
    Chief Financial Officer & Chief Investment Officer
    Managing this fund since 2018

    Mr. Royal joined Thrivent in 2006. He is the Chief Financial Officer and Chief Investment Officer at Thrivent. Read more.

  • Stephen D. Lowe, CFA
    Stephen D. Lowe, CFA
    Chief Investment Strategist
    Managing this fund since 2016

    Mr. Lowe joined Thrivent in 1997. He is the Chief Investment Strategist and has served as the portfolio manager of various Thrivent mutual funds since 2009. He has also been a senior portfolio manager of the high yield portion of Thrivent's general account since 2005. Read more.

  • David Spangler, CFA
    David Spangler, CFA
    Head of Mixed Assets and Market Strategies
    Managing this fund since 2019

    Mr. Spangler joined Thrivent in 2002 serving as Director of Thrivent’s Investment Product Management group. Read more.


Performance

All data represents past performance. Past performance does not guarantee future results. Investment return and principal value of the investment will fluctuate so that an investor’s shares, when redeemed may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted.


Average Annualized Returns

as of 01/31/2024
1.01% Net annual fund operating expenses
1.15% Total annual fund operating expenses
Thrivent Moderately Conservative Allocation Fund S&P 500® Index Bloomberg U.S. Aggregate Bond Index MSCI ACWI ex-USA - USD Net Returns Morningstar Moderately Conservative Allocation Avg
3M 5.98% 16.01% 8.23% 13.34% 10.07%
YTD -4.26% 1.68% -0.27% -0.99% 0.12%
1Y 1.97% 20.82% 2.10% 5.88% 5.94%
3Y -0.83% 10.99% -3.17% 1.14% 1.47%
5Y 3.27% 14.30% 0.83% 5.32% 4.58%
10Y 3.66% 12.62% 1.63% 4.21% 4.27%

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

The average annualized returns for the fund reflect the current maximum sales charge of 4.50%.

See data by:

Growth of 10K

as of 01/31/2024
$15,002
Total market value
$4,456
Current value of reinvested dividends and capital gains

Calendar year performance

as of 01/31/2024

Characteristics

All data represents past performance. Past performance does not guarantee 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.


Holdings breakdown

as of 01/31/2024
Total number of holdings
2043
Turnover ratio (as of 12/29/2023)
44%
86.50%
U.S.
13.50%
Non-U.S.

Top 10 Holdings

as of 12/29/2023
39.39%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
Thrivent Large Cap Value Fund, Class S 9.63%
Thrivent Income Fund, Class S 6.75%
Thrivent Large Cap Growth Fund, Class S 5.84%
Thrivent Limited Maturity Bond Fund, Class S 3.76%
Thrivent Core Emerging Markets Debt Fund 3.25%
Thrivent Mid Cap Stock Fund, Class S 2.57%
Thrivent High Yield Fund, Class S 2.25%
Thrivent International Allocation Fund, Class S 2.18%
U.S. Treasury Notes 1.79% 06/30/2024 3.00%
Thrivent Core International Equity Fund 1.37%

Fund Diversification

as of 12/29/2023
N/A
N/A
  • Large Cap Equity
    21.27%
  • Mid Cap Equity
    9.41%
  • Small Cap Equity
    2.12%
  • International Equity
    7.24%
  • Private Equity
    .34%
  • High Yield Bonds
    6.19%
  • Leveraged Loans
    .08%
  • Investment-Grade Corporates
    14.05%
  • Securitized Debt
    15.75%
  • U.S. Government Bonds
    12.31%
  • International Government Bonds
    2.72%
  • Flexible Income
    .35%
  • Cash
    8.17%

Equity characteristics

as of 01/31/2024
40.03%
of all holdings
P/E Ratio Return on Equity
Thrivent Moderately Conservative Allocation Fund 19.05 15.39%
S&P 500® Index 24.10 24.63%

Fixed Income characteristics

as of 01/31/2024
59.97%
of fund
Duration Average Life
Thrivent Moderately Conservative Allocation Fund 5.82 7.68
Bloomberg U.S. Aggregate Bond Index 6.17 8.68

Credit quality rating distribution

as of 01/31/2024
N/A
N/A
Bond type
% of total
  • High Quality (HQ) Bonds
    81.90%
  • Cash
    .81%
  • U.S. Government Guaranteed
    48.86%
  • AAA
    1.84%
  • AA
    2.04%
  • A
    9.36%
  • BBB
    18.99%
Bond type
% of total
  • High Yield (HY) Bonds
    15.03%
  • BB
    7.16%
  • B
    6.19%
  • CCC
    1.35%
  • CC
    .05%
  • C
    .14%
  • D
    .14%
  • Non-Rated (NR) Bonds
    2.63%
  • May be HQ/HY/NR Bonds
    .44%
  • ETFs/Closed-End Funds
    .44%

Beta

as of 01/31/2024
TCAAX
0.56
R2=46%
Lower than benchmark
S&P 500 1.0
Higher than benchmark

Volatility

as of 01/31/2024
Standard deviation Average annualized returns (without sales charge)
Thrivent Moderately Conservative Allocation Fund 10.28 0.70
S&P 500® Index 17.51 10.99
Bloomberg U.S. Aggregate Bond Index 7.04 -3.17

Ratings


Morningstar

as of 01/31/2024
Category: Moderately Conservative Allocation
Morningstar Information
Funds in category
Overall
438
3-Year
438
5-Year
404
10-Year
294
Risk vs. category
Below Average
438
Return vs. category
Average
438

Morningstar ratings are calculated based on risk-adjusted return.

Fixed income style box
Hi
Med
Low
QUALITY
Limited
Moderate
Extensive
SENSITIVITY
Equity Style Map
Large
Mid
Small
Value
Blend
Growth
Weighted average of holdings
75% of fund's stock holdings

Distributions

as of 01/31/2024
Dividends Month End Nav Month End Pop
February 2023 $0.0000 $11.60 $12.15
March 2023 $0.0574 $11.72 $12.27
April 2023 $0.0000 $11.80 $12.36
May 2023 $0.0000 $11.65 $12.20
June 2023 $0.0637 $11.90 $12.46
July 2023 $0.0000 $12.09 $12.66
August 2023 $0.0000 $11.93 $12.49
September 2023 $0.0655 $11.50 $12.04
October 2023 $0.0000 $11.25 $11.78
November 2023 $0.0000 $11.93 $12.49
December 2023 $0.1244 $12.33 $12.91
January 2024 $0.0000 $12.36 $12.94

Trailing 12-Months; Dividend Schedule: Paid Quarterly


Capital gains - trailing 12 months

as of 01/31/2024
Record date Short term capital gains Long term capital gains Total
- - - -

Expenses, fees, and charges

Management Fees and Other Expenses 0.90%
Distribution/12b-1 Fee 0.25%
Total Annual Fund Operating Expenses 1.15%
Less Waiver (0.14%)
Net Annual Fund Operating Expenses 1.01%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 semiannually
Front-End Sales Charge Max 4.50%
Back-End Sales Charge None

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


Minimum investment

Initial for non-retirement accounts $2,000
Initial for retirement or tax deferred accounts $1,000
Additional Purchases $50
Initial minimums are waived when a recurring investment of $50 or more is set up

Documents

Title Download View
Prospectus & Fund Documents -
Fund Facts -
Sales Profile -
Schedule of Investment -
Annual Proxy Voting -

Due to rounding, some values may not total 100%.

Strategy

The Fund has a long-term target allocation of 43% equity securities and 57% 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), and economic sector. Fixed income sub-classes may be based on maturity, duration, security type, or credit rating. The Fund may invest in foreign securities, including emerging markets. 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.

Risk

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. Debt securities are subject to risks such as declining prices during periods of rising interest rates and credit risk, or the risk that an issuer may not pay its debt. The Adviser is also subject to actual or potential conflicts of interest. The use of derivatives (such as futures) involves additional risks and transaction costs. Foreign investments involve additional risks, such as currency fluctuations and political, economic and market instability, which may be magnified for investments in emerging markets. U.S. government securities may not be fully guaranteed by the U.S government and issues may not have the funds to meet their payment obligations. The value of U.S. government securities may be affected by changes in credit ratings, which may be negatively impacted by rising national debt. High yield securities are subject to increased credit risk as well as liquidity risk. The Adviser’s assessment of investments may prove incorrect, resulting in losses or poor performance. The use of quantitative investing techniques, Leveraged Loans, and mortgage-related and other asset-backed securities also involve additional risks. The Fund invests in other funds; therefore, the Fund is dependent upon the performance of the other funds and is subject to the risks, additional fees and expenses of the other funds. When interest rates fall, certain obligations are paid off more quickly and proceeds may have to be invested in securities with lower yields. These and other risks are described in the prospectus.

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