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Thrivent Income Fund —
Class S
LBIIX
LBIIX
Thrivent Income Fund
Class
S
A
Morningstar Rating
Corporate Bond
Overall among 194 funds as of
06/30/2021
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
10/31/1997
As of
Net asset value
N/A
Daily NAV change
$N/A
As of N/A
YTD return
-0.72%
1-year return
4.95%
As of 06/30/2021
Net annual fund operating expenses
0.47%
As of
Sales charge
None
As of

Thrivent Income Fund seeks high current income while preserving principal. The Fund's secondary investment objective is 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.

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 advisor 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

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. 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. High yield securities are subject to increased credit risk as well as liquidity risk. 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 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 London Interbank Offered Rate (LIBOR) is being phased out, which brings uncertainty to instruments tied to it.  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 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. 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 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 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.

  • Kent White, CFA
    Kent White, CFA
    Senior Portfolio Manager
    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 06/30/2021
0.47% Total annual fund operating expenses
See data by:

Yields

as of 06/30/2021
12 Month Distribution
2.83%
30 Day SEC
1.94%
30 Day SEC Pre-Waiver
1.94%
Monthly Distribution
2.76%

Growth of 10K

as of 06/30/2021
Data in this section is based on month-end
$16,801
Total market value
(assumes the reinvestment of all dividends and capital gains)
$5,531
Current value of reinvested dividends and capital gains

Calendar year performance

as of 06/30/2021

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 06/30/2021
Total number of holdings
664
Turnover ratio (as of 05/28/2021)
71.00%

Top 10 Holdings

as of 05/28/2021
5.61%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
U.S. Treasury Bonds 1.50% 11/15/2050 1.63%
U.S. Treasury Bonds 0.60% 02/15/2051 1.88%
Bank of America Corporation 0.54% 04/24/2028 3.71%
Boeing Company 0.50% 05/01/2060 5.93%
U.S. Treasury Bonds 0.44% 02/15/2030 1.5%
Southern Company 0.42% 07/01/2026 3.25%
Sprint Capital Corporation 0.42% 03/15/2032 8.75%
HCA, Inc. 0.40% 02/15/2026 5.88%
General Motors Company 0.40% 10/01/2027 6.8%
Diamond 1 Finance Corporation 0.39% 06/15/2026 6.02%

Fund Diversification

as of 06/30/2021
N/A
N/A
  • Investment-Grade Corporates
    68.96%
  • High Yield Bonds
    15.00%
  • Flexible Income
    7.12%
  • Cash
    3.16%
  • Securitized Debt
    2.81%
  • U.S. Government Bonds
    2.11%
  • International Government Debt
    .51%
  • Leveraged Loans
    .33%

Fixed Income

as of 06/30/2021
Duration Avg. Life
Thrivent Income Fund 6.90 9.90
Bloomberg Barclays U.S. Aggregate Bond Index 6.35 8.36

Credit quality rating distribution

as of 06/30/2021
N/A
N/A
Bond type
% of total
  • High Quality (HQ) Bonds
    79.30%
  • Cash
    3.20%
  • U.S. Government Guaranteed
    2.10%
  • AAA
    .30%
  • AA
    1.50%
  • A
    11.70%
  • BBB
    60.50%
Bond type
% of total
  • High Yield (HY) Bonds
    19.50%
  • BB
    16.60%
  • B
    2.90%
  • CCC
    .00%
  • CC
    .00%
  • C
    .00%
  • D
    .00%
  • Non-Rated (NR) Bonds
    .90%
  • May be HQ/HY/NR Bonds
    .30%
  • ETFs/Closed-End Funds
    .30%

Volatility

as of 06/30/2021
Depending on the fund inception date, some data may not be available.
Standard deviation Average annualized returns
Thrivent Income Fund 6.31 8.21
Bloomberg Barclays U.S. Aggregate Bond Index 3.40 5.34

Ratings

Morningstar

as of 06/30/2021
Category: Corporate Bond
Morningstar Information
Check out our funds that received 4- or 5-Star Overall Morningstar RatingTM
Funds in category
Overall
194
3-Year
194
5-Year
136
10-Year
91
Risk vs. category
Below Average
194
Return vs. category
Above Average
194
Fixed income style box
Hi
Med
Low
QUALITY
Limited
Moderate
Extensive
SENSITIVITY

Morningstar ratings are calculated based on risk-adjusted return.


Distributions

as of 06/30/2021
Dividends Month End Nav
July 2020 $0.0265 $10.19
August 2020 $0.0231 $10.08
September 2020 $0.0225 $10.01
October 2020 $0.0223 $9.98
November 2020 $0.0245 $10.27
December 2020 $0.0241 $10.06
January 2021 $0.0217 $9.96
February 2021 $0.0210 $9.79
March 2021 $0.0253 $9.60
April 2021 $0.0221 $9.70
May 2021 $0.0208 $9.72
June 2021 $0.0246 $9.85

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


Capital gains - trailing 12 months

as of 06/30/2021
Record date Short term capital gains Long term capital gains Total
12/09/2020 $0.1439 $0.1232 $0.2671

Expenses, fees, and charges

Management Fees and Other Expenses 0.47%
Distribution/12b-1 Fee None
Total Annual Fund Operating Expenses 0.47%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 semiannually
Front-End Sales Charge None
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 -
Fund Commentary -
Sales Profile -
Schedule of Investment -
Annual Proxy Voting -

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