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Thrivent Limited Maturity Bond Fund —
Class A
LBLAX
LBLAX
Thrivent Limited Maturity Bond Fund
Class
Risk profile
Conservative Aggressive

Morningstar Fixed Income Style Box

Interest Rate Sensitivity:
N/A
Credit Quality:
N/A
 
Inception date
10/29/1999
As of
Net asset value
N/A
Daily NAV change
$N/A
As of N/A
YTD return with sales charge
-4.04%
1-year return with sales charge
-4.51%
As of 08/31/2022
Net annual fund operating expenses
0.56%
As of
Max sales charge
None
As of
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Thrivent Limited Maturity Bond Fund seeks a high level of current income consistent with stability of principal.

This fund invests primarily in investment-grade corporate bonds, government bonds, asset-backed securities, mortgage-backed securities and collateralized debt obligations. The Fund may also invest a portion of assets in foreign securities. The dollar-weighted average effective maturity for the Fund is expected to be between one and five years. The Fund’s shorter duration makes it less sensitive to interest rate changes than some longer-duration funds. As a result, the Fund may be appropriate for an investor who is seeking the opportunity to generate a modest level of income (with some investment risk), but with less interest rate risk and a lower return potential than most longer-maturity bond funds.

The Fund may be suitable for investors who:

  • Seek income consistent with stability of principal
  • Have a short- to medium-term investment time horizon and a 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.

  • Michael G. Landreville, CFA and CPA (inactive)
    Michael G. Landreville, CFA and CPA (inactive)
    Senior Portfolio Manager
    Managing this fund since 1999

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

  • Cortney Swensen, CFA
    Cortney Swensen, CFA
    Senior Portfolio Manager
    Managing this fund since 2020

    Ms. Swensen joined Thrivent in 2011 serving as a research analyst covering investment grade corporate bonds. She became a portfolio manager in 2016. Read more.

  • Jon-Paul (JP) Gagne
    Jon-Paul (JP) Gagne
    Senior Portfolio Manager
    Managing this fund since 2021

    Mr. Gagne joined Thrivent in 2018 serving as a senior research analyst and trader covering securitized assets. He became a portfolio manager in 2021. 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
0.56% Total annual fund operating expenses
See data by:

Yields

as of 08/31/2022
12 Month Distribution
1.54%
30 Day SEC
3.49%
Monthly Distribution
2.00%

Growth of 10K

as of 08/31/2022
$11,292
Total market value
$1,800
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
613
Turnover ratio (as of 07/29/2022)
57%

Top 10 Holdings

as of 07/29/2022
9.58%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
U.S. Treasury Notes 1.80% 08/31/2023 0.13%
U.S. Treasury Notes 1.50% 01/15/2024 0.13%
U.S. Treasury Notes 1.35% 01/31/2024 0.88%
U.S. Treasury Notes 0.98% 06/30/2024 3.00%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 0.71% 08/01/2037 4.00%
Avant Credit Card Master Trust 0.67% 04/15/2027 1.37%
Palmer Square Loan Funding, Ltd. 0.67% 05/20/2029 4.23%
Genesis Sales Finance Master Trust 0.67% 12/21/2026 1.20%
Sound Point CLO XIV, Ltd. 0.62% 01/23/2029 4.83%
Longfellow Place CLO, Ltd. 0.61% 04/15/2029 4.26%

Fund Diversification

as of 06/30/2022
N/A
N/A
  • Investment-Grade Corporates
    48.99%
  • Securitized Debt
    34.00%
  • U.S. Government Bonds
    6.72%
  • High Yield Bonds
    6.32%
  • Flexible Income
    1.83%
  • Cash
    1.79%
  • International Government Debt
    .34%

Fixed Income characteristics

as of 08/31/2022
Duration Average Life
Thrivent Limited Maturity Bond Fund 2.15 3.16
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
    76.37%
  • Cash
    1.45%
  • U.S. Government Guaranteed
    8.94%
  • AAA
    5.40%
  • AA
    9.08%
  • A
    12.42%
  • BBB
    39.08%
Bond type
% of total
  • High Yield (HY) Bonds
    7.81%
  • BB
    7.20%
  • B
    .49%
  • CCC
    .06%
  • CC
    .00%
  • C
    .06%
  • D
    .00%
  • Non-Rated (NR) Bonds
    15.83%
  • May be HQ/HY/NR Bonds
    .00%
  • ETFs/Closed-End Funds
    .00%

Volatility

as of 08/31/2022
Standard deviation Average annualized returns (without sales charge)
Thrivent Limited Maturity Bond Fund 3.18 0.09
Bloomberg U.S. Aggregate Bond Index 4.91 -2.00

Ratings

Morningstar

as of 08/31/2022
Category: Short-Term Bond
Morningstar Information
Funds in category
Overall
550
3-Year
550
5-Year
487
10-Year
335
Risk vs. category
Average
550
Return vs. category
Average
550

Morningstar ratings are calculated based on risk-adjusted return.


Distributions

as of 08/31/2022
Dividends Month End Nav
September 2021 $0.0121 $12.69
October 2021 $0.0124 $12.65
November 2021 $0.0134 $12.61
December 2021 $0.0138 $12.59
January 2022 $0.0138 $12.48
February 2022 $0.0133 $12.39
March 2022 $0.0155 $12.23
April 2022 $0.0155 $12.10
May 2022 $0.0179 $12.08
June 2022 $0.0171 $11.94
July 2022 $0.0175 $12.04
August 2022 $0.0215 $11.95

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 - $0.0067 $0.0067

Expenses, fees, and charges

Management Fees and Other Expenses 0.435%
Distribution/12b-1 Fee 0.125%
Total Annual Fund Operating Expenses 0.56%
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 -
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 debt securities to buy and sell. The Fund’s investment adviser generally focuses on issuers that it believes are financially sound and that have strong cash flows and earnings. The Fund may use an interest-rate management technique that includes the purchase and sale of U.S. Treasury securities and related futures contracts for the purpose of managing the duration of the Fund.

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 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. In addition to typical risks associated with fixed income and asset-backed securities, collateralized debt obligations are subject to additional risks. 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 London Interbank Offered Rate (LIBOR) is being phased out, which brings uncertainty to instruments tied to it. Markets may also be impacted by domestic or global events, including public health threats, terrorism, natural disasters or similar events. The use of futures contracts involves additional risks such as a loss in value in the underlying instrument, which could decrease the Fund’s value. High yield securities are subject to increased credit risk as well as liquidity risk. The Adviser's assessment of investments and ESG considerations may prove incorrect, resulting in losses or poor performance. 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 in implementing its principal investment strategies, which may result in higher transaction costs and higher taxes. 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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