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Thrivent Mid Cap Value Fund —
Class S
TMCVX
TMCVX
Thrivent Mid Cap Value Fund
Class
Morningstar Rating
Mid-Cap Value
Overall among 377 funds as of
02/29/2024
Morningstar ratings are calculated based on risk-adjusted return.
Risk profile
Conservative Aggressive

Market Cap & Style

Large
Mid
Small
Value
Blend
Growth
Inception date
2/28/2020
As of
Net asset value
-
Daily NAV change
-
As of N/A
YTD return
1.81%
1-year return
9.48%
As of 02/29/2024
Net annual fund operating expenses
0.90%
As of
Sales charge
None
As of
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Thrivent Mid Cap Value Fund seeks long-term capital growth.

This Fund looks to provide investors with consistent, competitive performance through favorable stock selection while monitoring risk. The Fund typically invests in mid-sized companies across the value spectrum. Value stocks are companies that trade at a lower price compared to the market, as measured by valuation ratios that compare the stock’s price to the company’s earnings and growth trends. Mid-sized companies may be more established than small companies but have the opportunity to experience faster growth as they seek to become large-cap companies. However, they typically have greater risk than larger, more-seasoned companies.

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 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.

  • Graham Wong, CFA
    Graham Wong, CFA
    Senior Portfolio Manager
    Managing this fund since 2020

    Mr. Wong joined Thrivent in 2013, serving as a portfolio manager. Read more.

  • Nicholas Griffith, MD, CFA
    Nicholas Griffith, MD, CFA
    Senior Portfolio Manager
    Managing this fund since 2022

    Mr. Griffith joined Thrivent in 2021, serving as a senior portfolio manager. 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 02/29/2024
0.90% Net annual fund operating expenses
1.56% Total annual fund operating expenses
Thrivent Mid Cap Value Fund Russell MidCap Value Index S&P MidCap 400 Value Index Morningstar Mid-Cap Value Avg
3M 9.34% 10.92% 8.84% 9.98%
YTD 1.81% 2.90% -1.22% 2.17%
1Y 9.48% 10.87% 5.27% 10.54%
3Y 9.03% 6.80% 7.75% 8.32%
Since Inception 2/28/2020 16.38% - - -

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.

See data by:

Growth of 10K

as of 02/29/2024
$18,357
Total market value
$1,527
Current value of reinvested dividends and capital gains

Calendar year performance

as of 02/29/2024

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 02/29/2024
Total number of holdings
77
Turnover ratio (as of 01/31/2024)
51%

Top 10 Holdings

as of 01/31/2024
20.65%
of all holdings
N/A
N/A
Security name % of total assets
Flowserve Corporation 2.64%
Carlyle Group, Inc. 2.20%
General Dynamics Corporation 2.11%
Laboratory Corporation of America Holdings 2.02%
Allstate Corporation 2.00%
Celanese Corporation 2.00%
MKS Instruments, Inc. 1.93%
Werner Enterprises, Inc. 1.92%
Berry Plastics Group, Inc. 1.92%
Capital One Financial Corporation 1.91%

Fund Diversification

as of 12/29/2023
N/A
N/A
  • Financials
    18.79%
  • Industrials
    17.97%
  • Consumer Discretionary
    10.28%
  • Consumer Staples
    8.01%
  • Materials
    7.85%
  • Health Care
    7.52%
  • Information Technology
    7.38%
  • Energy
    7.34%
  • Real Estate
    5.50%
  • Utilities
    5.25%
  • Communication Services
    2.53%
  • Cash
    1.57%

Equity characteristics

as of 02/29/2024
P/E Ratio Return on Equity
Thrivent Mid Cap Value Fund 15.91 11.17%
S&P 500® Index 25.29 28.31%

Beta

as of 02/29/2024
TMCVX
0.88
R2=46%
Lower than benchmark
S&P 500 1.0
Higher than benchmark

Volatility

as of 02/29/2024
Depending on the fund inception date, some data may not be available.
Standard deviation Average annualized returns
Thrivent Mid Cap Value Fund 17.98 9.03
S&P 500® Index 17.66 11.91

Ratings


Morningstar

as of 02/29/2024
Category: Mid-Cap Value
Morningstar Information
Check out our funds that received 4- or 5-Star Overall Morningstar RatingTM
Funds in category
Overall
377
3-Year
377
5-Year
Doesn't apply due to fund's inception date of 2/28/2020
10-Year
Doesn't apply due to fund's inception date of 2/28/2020
Risk vs. category
Average
377
Return vs. category
Average
377

Morningstar ratings are calculated based on risk-adjusted return.

Equity Style Map
Large
Mid
Small
Value
Blend
Growth
Weighted average of holdings
75% of fund's stock holdings

Distributions

as of 02/29/2024
Dividends Month End Nav
March 2023 $0.0000 $14.91
April 2023 $0.0000 $14.92
May 2023 $0.0000 $14.39
June 2023 $0.0000 $15.59
July 2023 $0.0000 $16.32
August 2023 $0.0000 $15.63
September 2023 $0.0000 $15.05
October 2023 $0.0000 $14.29
November 2023 $0.0000 $15.54
December 2023 $0.1600 $16.53
January 2024 $0.0000 $16.33
February 2024 $0.0000 $16.83

Trailing 12-Months; Dividend Schedule: Paid Annually


Capital gains - trailing 12 months

as of 02/29/2024
Record date Short term capital gains Long term capital gains Total
- - - -

Expenses, fees, and charges

Management Fees and Other Expenses 1.56%
Distribution/12b-1 Fee None
Total Annual Fund Operating Expenses 1.56%
Less Waiver (0.66%)
Net Annual Fund Operating Expenses 0.90%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 Semiannually
Front-End Sales Charge None
Back-End Sales Charge None

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.


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 Commentary -
Fund Facts -
Sales Profile -
Schedule of Investment -
Annual Proxy Voting -

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

Strategy

The portfolio management team seeks to add value through stock selection and active management. The Fund invests in a diversified portfolio of value stocks with improving or positive outlooks relative to market expectations. The process begins with idea generation and screening to identify stocks that have certain characteristics. The team uses fundamental and other investment research techniques to seek to identify and purchase stocks of mid-sized companies that are undervalued in relation to their long-term earnings potential or asset value, and monitor risk in an effort to build a well-diversified portfolio.

Risk

Medium-sized companies often have greater price volatility, lower trading volume, and less liquidity than larger, more established companies. The Fund’s value is influenced by a number of factors, including the performance of the broader market, and risks specific to the Fund’s asset classes, investment styles, and issuers. The Adviser’s assessment of investments may prove incorrect, resulting in losses or poor performance. These and other risks are described in the prospectus.

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