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Thrivent Income Fund —
Class A
LUBIX
LUBIX
Thrivent Income Fund
Class
Morningstar Rating
Corporate Bond
Overall among 188 funds as of
08/31/2022
Morningstar ratings are calculated based on risk-adjusted return.
Risk profile
Conservative Aggressive

Morningstar Fixed Income Style Box

Interest Rate Sensitivity:
Moderate
Credit Quality:
Medium
 
Inception date
6/1/1972
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
-18.01%
1-year return with sales charge
-18.80%
As of 08/31/2022
Net annual fund operating expenses
0.74%
As of
Max sales charge
4.50%
As of
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Thrivent Income Fund seeks high current income while preserving principal and, secondarily, to obtain long-term growth of capital in order to maintain investors’ purchasing power.

This fund invests primarily in investment-grade corporate bonds, government bonds, asset-backed securities, and mortgage-backed securities. The Fund may also invest a portion of its assets in high yield bonds, leveraged loans and preferred stock, and may opportunistically invest in foreign issuers (including emerging market issuers), non-agency mortgage-backed securities and commercial mortgage- backed securities. The Fund typically has its largest allocation in BBB-rated bonds, which are the lowest-tier of investment grade bonds. The Fund uses derivatives in order to manage the Fund’s duration, or interest rate risk.

The Fund may be suitable for investors who:

  • Seek a high level of income while preserving 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 130 investment professionals brings their deep expertise to managing each fund so you can feel confident in the choices you’re making. More than 75% have at least 10 years of experience, more than 45% have more than 20 years of investment experience, and more than 80% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

  • Kent L. White, CFA
    Kent L. White, CFA
    VP, Fixed Income Mutual Funds
    Managing this fund since 2017

    Mr. White is currently a Senior Portfolio Manager at Thrivent and was previously the Director of Investment Grade Research. He has been with the firm since 1999. 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 08/31/2022
0.74% Total annual fund operating expenses

The average annualized returns for the fund reflect the current maximum sales charge of 4.5%.

See data by:

Yields

as of 08/31/2022
12 Month Distribution
3.07%
30 Day SEC
4.10%
Monthly Distribution
3.09%

Growth of 10K

as of 08/31/2022
$12,626
Total market value
$3,901
Current value of reinvested dividends and capital gains

Calendar year performance

as of 08/31/2022

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 08/31/2022
Total number of holdings
534
Turnover ratio (as of 07/29/2022)
37%

Top 10 Holdings

as of 07/29/2022
7.49%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
U.S. Treasury Notes 2.63% 09/30/2022 1.88%
U.S. Treasury Bonds 0.72% 08/15/2051 2.00%
GE Capital International Funding Company 0.63% 11/15/2035 4.42%
First-Citizens Bank & Trust Company 0.55% 03/09/2028 6.13%
U.S. Treasury Bonds 0.51% 05/15/2052 2.88%
Freeport-McMoRan, Inc. 0.51% 08/01/2030 4.63%
U.S. Treasury Bonds 0.50% 11/15/2051 1.88%
Goldman Sachs Group, Inc. 0.49% 02/24/2033 3.10%
U.S. Treasury Bonds 0.48% 05/15/2032 2.88%
Expedia Group, Inc. 0.47% 02/15/2030 3.25%

Fund Diversification

as of 06/30/2022
N/A
N/A
  • Investment-Grade Corporates
    64.52%
  • High Yield Bonds
    13.40%
  • Flexible Income
    8.93%
  • Cash
    7.40%
  • Securitized Debt
    2.97%
  • U.S. Government Bonds
    2.06%
  • International Government Debt
    .58%
  • Leveraged Loans
    .15%

Fixed Income characteristics

as of 08/31/2022
Duration Average Life
Thrivent Income Fund 7.12 11.95
Bloomberg U.S. Aggregate Bond Index 6.30 8.63

Credit quality rating distribution

as of 08/31/2022
N/A
N/A
Bond type
% of total
  • High Quality (HQ) Bonds
    82.43%
  • Cash
    2.80%
  • U.S. Government Guaranteed
    8.31%
  • AAA
    .33%
  • AA
    1.27%
  • A
    13.50%
  • BBB
    56.22%
Bond type
% of total
  • High Yield (HY) Bonds
    17.41%
  • BB
    14.94%
  • B
    2.47%
  • CCC
    .00%
  • CC
    .00%
  • C
    .00%
  • D
    .00%
  • Non-Rated (NR) Bonds
    .15%
  • May be HQ/HY/NR Bonds
    .00%
  • ETFs/Closed-End Funds
    .00%

Volatility

as of 08/31/2022
Depending on the fund inception date, some data may not be available.
Standard deviation Average annualized returns (without sales charge)
Thrivent Income Fund 7.91 -1.49
Bloomberg U.S. Aggregate Bond Index 4.91 -2.00

Ratings

Morningstar

as of 08/31/2022
Category: Corporate Bond
Morningstar Information
Check out our funds that received 4- or 5-Star Overall Morningstar RatingTM
Funds in category
Overall
188
3-Year
188
5-Year
166
10-Year
94
Risk vs. category
Below Average
188
Return vs. category
Average
188

Morningstar ratings are calculated based on risk-adjusted return.

Fixed income style box
Hi
Med
Low
QUALITY
Limited
Moderate
Extensive
SENSITIVITY

Distributions

as of 08/31/2022
Dividends Month End Nav Month End Pop
September 2021 $0.0191 $9.82 $10.28
October 2021 $0.0185 $9.79 $10.25
November 2021 $0.0208 $9.75 $10.21
December 2021 $0.0201 $9.59 $10.04
January 2022 $0.0205 $9.28 $9.72
February 2022 $0.0193 $9.08 $9.51
March 2022 $0.0218 $8.83 $9.25
April 2022 $0.0204 $8.34 $8.73
May 2022 $0.0229 $8.35 $8.74
June 2022 $0.0212 $8.04 $8.42
July 2022 $0.0206 $8.31 $8.70
August 2022 $0.0226 $8.07 $8.45

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


Capital gains - trailing 12 months

as of 08/31/2022
Record date Short term capital gains Long term capital gains Total
12/08/2021 $0.0026 $0.1572 $0.1598

Expenses, fees, and charges

Management Fees and Other Expenses 0.49%
Distribution/12b-1 Fee 0.25%
Total Annual Fund Operating Expenses 0.74%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 semiannually
Front-End Sales Charge Max 4.50%
Back-End Sales Charge None

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 portfolio management team seeks to add value through security selection and active management, and monitors risk in an effort to build a well-diversified portfolio. The team uses fundamental, quantitative and technical investment research techniques to determine which securities to buy and sell. The Fund’s investment adviser may purchase bonds of any maturity and generally focuses on U.S. companies that it believes are financially sound and have strong cash flows and earnings. The team also considers the macro-economic environment and performs an ongoing assessment of relative value and risk. Based on this market outlook, the Fund may take overweight and underweight positions in various sectors and industries and may reallocate across the higher and lower-quality segments of the bond market. The analysts perform research and provide buy/sell recommendations while the portfolio manager is responsible for portfolio construction and risk management.

Risk

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. High yield securities are subject to increased credit risk as well as liquidity risk. 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. The London Interbank Offered Rate (LIBOR) is being phased out, which brings uncertainty to instruments tied to it. 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. 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. Foreign investments involve additional risks, such as currency fluctuations and political, economic and market instability, which may be magnified for investments in emerging markets. Markets may also be impacted by domestic or global events, including public health threats, terrorism, natural disasters or similar events. The Adviser's assessment of investments or ESG considerations may prove incorrect, resulting in losses or poor performance. To the extent that the financials sector continues to represent a significant portion of the Fund, The Fund will be sensitive to changes in, and its performance may depend to a greater extent on, factors impacting this sector. 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. These and other risks are described in the prospectus.

Asset Management for Financial Professionals


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