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

Morningstar Fixed Income Style Box

Interest Rate Sensitivity:
Limited
Credit Quality:
Low
 
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
0.23%
1-year return with sales charge
3.52%
As of 05/28/2021
Net annual fund operating expenses
0.60%
As of
Max sales charge
None
As of

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.

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 advisor 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

The Fund’s value is influenced by a number of factors impacting the overall market, in particular debt securities and specific issuers. 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. 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 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. When bond inventories are low in relation to the market size, there is the potential for decreased liquidity and increased price volatility. The Adviser's assessment of investments may prove incorrect, resulting in losses or poor performance. 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. These and other risks are described in the prospectus.

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 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 1999

    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 2005

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

  • Cortney Swensen, CFA
    Cortney Swensen, CFA
    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
    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 05/28/2021
0.60% Total annual fund operating expenses
See data by:

Yields

as of 05/28/2021
12 Month Distribution
1.56%
30 Day SEC
0.78%
30 Day SEC Pre-Waiver
0.78%
Monthly Distribution
1.32%

Growth of 10K

as of 05/28/2021
Data in this section is based on month-end
$12,078
Total market value
(assumes the reinvestment of all dividends and capital gains)
$1,943
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
700
Turnover ratio (as of 04/30/2021)
200.00%

Top 10 Holdings

as of 04/30/2021
19.09%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
Federal National Mortgage Association Conventional 15-Yr. Pass Through 6.87% 05/01/2036 2.0%
U.S. Treasury Notes 2.81% 10/31/2022 0.13%
U.S. Treasury Notes 2.05% 01/31/2023 0.13%
Vanguard Short-Term Corporate Bond ETF 2.03%
U.S. Treasury Notes 1.33% 01/15/2024 0.13%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 1.11% 05/01/2036 2.5%
U.S. Treasury Notes 0.97% 10/15/2023 0.13%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 0.70% 05/01/2036 1.5%
Palmer Square Loan Funding, Ltd. 0.61% 05/20/2029 1.44%
Arch Street CLO, Ltd. 0.61% 10/20/2028 1.19%

Fund Diversification

as of 03/31/2021
N/A
N/A
  • Investment Grade Credit
    42.30%
  • Securitized Debt
    40.00%
  • Government Bonds
    11.00%
  • High Yield Bonds
    5.10%
  • Cash
    1.60%

Fixed Income

as of 05/28/2021
Duration Avg. Life
Thrivent Limited Maturity Bond Fund 1.50 3.20
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
    76.30%
  • Cash
    1.10%
  • U.S. Government Guaranteed
    14.20%
  • AAA
    11.00%
  • AA
    7.20%
  • A
    11.00%
  • BBB
    31.80%
Bond type
% of total
  • High Yield (HY) Bonds
    6.90%
  • BB
    5.80%
  • B
    .90%
  • CCC
    .10%
  • CC
    .00%
  • C
    .00%
  • D
    .10%
  • Non-Rated (NR) Bonds
    15.40%
  • May be HQ/HY/NR Bonds
    1.40%
  • ETFs/Closed-End Funds
    1.40%

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 Limited Maturity Bond Fund 2.85 3.10
Bloomberg Barclays U.S. Aggregate Bond Index 3.40 5.06

Ratings

Morningstar

as of 05/28/2021
Category: Short-Term Bond
Morningstar Information
Funds in category
Overall
518
3-Year
518
5-Year
462
10-Year
303
Risk vs. category
Average
518
Return vs. category
Average
518
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 $0.0212 $12.63 $12.63
July 2020 $0.0204 $12.68 $12.68
August 2020 $0.0194 $12.70 $12.70
September 2020 $0.0180 $12.67 $12.67
October 2020 $0.0168 $12.67 $12.67
November 2020 $0.0167 $12.72 $12.72
December 2020 $0.0166 $12.76 $12.76
January 2021 $0.0134 $12.76 $12.76
February 2021 $0.0137 $12.73 $12.73
March 2021 $0.0154 $12.70 $12.70
April 2021 $0.0134 $12.72 $12.72
May 2021 $0.0128 $12.72 $12.72

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
- - - -

Expenses, fees, and charges

Management Fees and Other Expenses 0.475%
Distribution/12b-1 Fee 0.125%
Total Annual Fund Operating Expenses 0.60%
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 -