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Thrivent Government Bond Fund —
Class A
TBFAX
TBFAX
Thrivent Government Bond Fund
Class
S
A
Risk profile
Conservative Aggressive

Morningstar Fixed Income Style Box

Interest Rate Sensitivity:
Moderate
Credit Quality:
Medium
 
Inception date
2/26/2010
As of
Public offering price
N/A
Net asset value
N/A
Daily NAV change
$N/A
As of N/A
YTD return with sales charge
-4.14%
1-year return with sales charge
-3.94%
As of 05/28/2021
Net annual fund operating expenses
0.85%
As of
Max sales charge
2.00%
As of

Thrivent Government Bond Fund seeks total return, consistent with preservation of capital. The Fund’s investment objective may be changed without shareholder approval.

This fund invests primarily in U.S. government bonds, which may include debt instruments issued or guaranteed by the U.S. government and its agencies or instrumentalities. This includes U.S. Treasuries, Treasury Inflation Protected Securities (TIPS), U.S. Government Agency debt, and mortgage-backed securities that are issued or guaranteed by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). The Fund may hold securities of any maturity, but under normal market conditions, the Fund’s duration will be targeted to approximately five years. Government bonds have a low correlation to equities and may outperform stocks and corporate bonds when the market is declining and investors tend to become more risk averse. As a result, an allocation to government bonds may help diversify an investor’s overall portfolio. The Fund may also utilize derivatives for investment exposure or hedging purposes.

Strategy

The portfolio management team uses fundamental, quantitative and technical investment research techniques to determine which debt obligations to buy and sell. The portfolio manager is responsible for portfolio construction and risk management, and uses duration and yield curve management strategies in an effort to increase total return potential and manage risk.

Risk

The Fund’s value is influenced by a number of factors impacting the overall market, in particular debt securities and the U.S. government. The value of U.S. government securities may be affected by changes in the credit rating of the U.S. government and may not be fully guaranteed by the U.S. government. The credit rating of the U.S. government may be negatively impacted by rising national debt. The value of mortgage-related and other asset-backed securities will be influenced by the factors affecting the housing market and the assets underlying such securities. 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 not pay its debt. Inflation-linked debt securities, such as TIPS, are subject to the effects of changes in market interest rates caused by factors other than inflation (real interest rates). The Fund may invest in sovereign debt securities issued by foreign governments, which are subject to additional risks, including the risk that the entity may delay or refuse to pay interest or principal. The London Interbank Offered Rate (LIBOR) is being phased out, which brings uncertainty to instruments tied to it. The Adviser's assessment of investments may prove incorrect, resulting in losses or poor performance. The use of derivatives (such as futures) involves additional risks and transaction costs. When bond inventories are low in relation to the market size, there is the potential for decreased liquidity and increased price volatility. In unusual circumstances, the Fund could experience a loss when selling portfolio securities to meet redemption requests for a variety of reasons. The Fund may engage in active and frequent trading of portfolio securities, which may result in higher transaction costs and higher taxes. These and other risks are described in the prospectus.

The Fund may be suitable for investors who:

  • Seek income and total return, consistent with preservation of capital
  • 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 125 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 more than 80% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

  • Michael G. Landreville, CFA and CPA (inactive)
    Michael G. Landreville, CFA and CPA (inactive)
    Senior Portfolio Manager
    Managing this fund since 2010

    Mr. Landreville joined Thrivent in 1983. He has served as a portfolio manager since 1998. Read more.

  • Gregory R. Anderson, CFA
    Gregory R. Anderson, CFA
    Senior Portfolio Manager
    Managing this fund since 2017

    Mr. Anderson joined Thrivent in 1997. He has served as a portfolio manager since 2000. Read more.


Performance

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.


Average Annualized Returns

as of 05/28/2021
0.85% Net annual fund operating expenses
1.08% Total annual fund operating expenses
See data by:

The average annualized returns for the fund reflect the current maximum sales charge of 2.00%.

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.


Yields

as of 05/28/2021
12 Month Distribution
0.91%
30 Day SEC
0.51%
30 Day SEC Pre-Waiver
0.08%
Monthly Distribution
1.03%

Growth of 10K

as of 05/28/2021
Data in this section is based on month-end
$12,564
Total market value
(assumes the reinvestment of all dividends and capital gains)
$2,816
Current value of reinvested dividends and capital gains

Calendar year performance

as of 05/28/2021

Characteristics

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.


Holdings breakdown

as of 05/28/2021
Total number of holdings
109
Turnover ratio (as of 04/30/2021)
350.00%

Top 10 Holdings

as of 04/30/2021
48.35%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
Federal National Mortgage Association Conventional 15-Yr. Pass Through 9.13% 05/01/2036 2.0%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 7.06% 06/01/2051 2.5%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 4.83% 05/01/2051 2.5%
U.S. Treasury Bonds 4.78% 02/15/2029 2.63%
U.S. Treasury Notes 4.52% 11/30/2027 0.63%
U.S. Treasury Bonds 4.38% 02/15/2030 1.5%
U.S. Treasury Notes 3.72% 04/30/2027 0.5%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 3.35% 05/01/2051 2.0%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 3.34% 05/01/2036 2.5%
U.S. Treasury Notes 3.24% 02/28/2026 0.5%

Fund Diversification

as of 03/31/2021
N/A
N/A
  • Securitized Debt
    54.10%
  • Government Bonds
    41.10%
  • Investment Grade Credit
    2.60%
  • International Debt
    2.00%
  • High Yield Bonds
    .20%

Fixed Income

as of 05/28/2021
Duration Avg. Life
Thrivent Government Bond Fund 4.60 6.90
Bloomberg Barclays U.S. Aggregate Bond Index 6.22 8.25

Credit quality rating distribution

as of 05/28/2021
N/A
N/A
Bond type
% of total
  • High Quality (HQ) Bonds
    97.00%
  • Cash
    1.10%
  • U.S. Government Guaranteed
    83.90%
  • AAA
    5.90%
  • AA
    5.60%
  • A
    .50%
  • BBB
    .00%
Bond type
% of total
  • High Yield (HY) Bonds
    .10%
  • BB
    .00%
  • B
    .10%
  • CCC
    .00%
  • CC
    .00%
  • C
    .00%
  • D
    .00%
  • Non-Rated (NR) Bonds
    2.90%
  • May be HQ/HY/NR Bonds
    .00%
  • ETFs/Closed-End Funds
    .00%

Volatility

as of 05/28/2021
Depending on the fund inception date, some data may not be available.
Standard deviation Average annualized returns (without sales charge)
Thrivent Government Bond Fund 3.43 3.86
Bloomberg Barclays U.S. Aggregate Bond Index 3.40 5.06

Ratings


Morningstar

as of 05/28/2021
Category: Intermediate Government
Morningstar Information
Funds in category
Overall
224
3-Year
224
5-Year
202
10-Year
177
Risk vs. category
Above Average
224
Return vs. category
Average
224
Fixed income style box
Hi
Med
Low
QUALITY
Limited
Moderate
Extensive
SENSITIVITY

Morningstar ratings are calculated based on risk-adjusted return.


Distributions

as of 05/28/2021
Dividends Month End Nav Month End Pop
June 2020 $0.0082 $10.62 $10.84
July 2020 $0.0095 $10.72 $10.94
August 2020 $0.0099 $10.63 $10.85
September 2020 $0.0084 $10.62 $10.84
October 2020 $0.0079 $10.53 $10.74
November 2020 $0.0077 $10.57 $10.79
December 2020 $0.0062 $10.34 $10.55
January 2021 $0.0042 $10.29 $10.50
February 2021 $0.0050 $10.14 $10.35
March 2021 $0.0092 $10.02 $10.22
April 2021 $0.0064 $10.09 $10.30
May 2021 $0.0081 $10.08 $10.29

Trailing 12-Months; Dividend Schedule: Declared Daily, Paid Monthly


Capital gains - trailing 12 months

as of 05/28/2021
Record date Short term capital gains Long term capital gains Total
12/09/2020 $0.1244 $0.0944 $0.2188

Expenses, fees, and charges

Management Fees and Other Expenses 0.955%
Distribution/12b-1 Fee 0.125%
Total Annual Fund Operating Expenses 1.08%
Less Waiver (0.23%)
Net Annual Fund Operating Expenses 0.85%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 Semiannually
Front-End Sales Charge Max 2.00%
Back-End Sales Charge None

Thrivent Government Bond Fund–Class A Shares, is closed to all new purchases.

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