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Thrivent Limited Maturity Bond Fund —
Class S
Thrivent Limited Maturity Bond Fund
Morningstar Rating
Short-Term Bond
Overall among 532 funds as of
Morningstar ratings are calculated based on risk-adjusted return.
Risk profile
Conservative Aggressive

Morningstar Fixed Income Style Box

Interest Rate Sensitivity:
Credit Quality:
Inception date
As of
Net asset value
Daily NAV change
As of N/A
YTD return
1-year return
As of 08/31/2023
Net annual fund operating expenses
As of
Sales charge
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 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, more than 50% have more than 20 years of investment experience, and more than 85% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

  • 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 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 08/31/2023
0.42% Total annual fund operating expenses
Thrivent Limited Maturity Bond Fund Bloomberg U.S. Government/Credit 1-3 Year Bond Index Morningstar Short-Term Bond Avg
3M 1.14% 0.37% 0.76%
YTD 3.35% 1.92% 2.68%
1Y 3.06% 1.57% 2.09%
3Y 0.03% -0.70% -0.47%
5Y 1.58% 1.21% 1.36%
10Y 1.69% 1.05% 1.38%
See data by:


as of 08/31/2023
12 Month Distribution
30 Day SEC
Monthly Distribution

Growth of 10K

as of 08/31/2023
Total market value
Current value of reinvested dividends and capital gains

Calendar year performance

as of 08/31/2023


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 08/31/2023
Total number of holdings
Turnover ratio (as of 07/31/2023)

Top 10 Holdings

as of 07/31/2023
of all holdings
Security name % of total assets Maturity Coupon rate
U.S. Treasury Notes 5.12% 01/31/2028 3.50%
U.S. Treasury Notes 1.44% 05/31/2025 4.25%
U.S. Treasury Notes 0.96% 10/31/2029 4.00%
Avant Credit Card Master Trust 0.71% 04/15/2027 1.37%
Genesis Sales Finance Master Trust 0.70% 12/21/2026 1.20%
Sound Point CLO XIV, Ltd. 0.69% 01/23/2029 7.66%
U.S. Treasury Bonds 0.68% 06/15/2026 4.13%
Sound Point CLO XV, Ltd. 0.67% 01/23/2029 7.11%
Ares XL CLO, Ltd. 0.66% 01/15/2029 6.97%
Affirm Asset Securitization Trust 0.66% 08/15/2026 1.03%

Fund Diversification

as of 06/30/2023
  • Investment-Grade Corporates
  • Securitized Debt
  • U.S. Government Bonds
  • High Yield Bonds
  • Flexible Income
  • Cash
  • International Government Debt

Fixed Income characteristics

as of 08/31/2023
Duration Average Life
Thrivent Limited Maturity Bond Fund 1.93 2.82
Bloomberg U.S. Aggregate Bond Index 6.10 8.61

Credit quality rating distribution

as of 08/31/2023
Bond type
% of total
  • High Quality (HQ) Bonds
  • Cash
  • U.S. Government Guaranteed
  • AAA
  • AA
  • A
  • BBB
Bond type
% of total
  • High Yield (HY) Bonds
  • BB
  • B
  • CCC
  • CC
  • C
  • D
  • Non-Rated (NR) Bonds
  • May be HQ/HY/NR Bonds
  • ETFs/Closed-End Funds


as of 08/31/2023
Standard deviation Average annualized returns
Thrivent Limited Maturity Bond Fund 2.34 0.03
Bloomberg U.S. Aggregate Bond Index 5.92 -4.41



as of 08/31/2023
Category: Short-Term Bond
Morningstar Information
Check out our funds that received 4- or 5-Star Overall Morningstar RatingTM
Funds in category
Risk vs. category
Return vs. category
Above Average

Morningstar ratings are calculated based on risk-adjusted return.


as of 08/31/2023
Dividends Month End Nav
September 2022 $0.0214 $11.73
October 2022 $0.0242 $11.65
November 2022 $0.0250 $11.80
December 2022 $0.0254 $11.81
January 2023 $0.0291 $11.96
February 2023 $0.0269 $11.86
March 2023 $0.0301 $11.92
April 2023 $0.0280 $11.97
May 2023 $0.0333 $11.92
June 2023 $0.0305 $11.89
July 2023 $0.0324 $11.94
August 2023 $0.0326 $11.96

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

Capital gains - trailing 12 months

as of 08/31/2023
Record date Short term capital gains Long term capital gains Total
- - - -

Expenses, fees, and charges

Management Fees and Other Expenses 0.42%
Distribution/12b-1 Fee None
Total Annual Fund Operating Expenses 0.42%
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


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%.


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.


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 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 may prove incorrect, resulting in losses or poor performance. The Fund’s value may be affected by factors specific to an issuer within the Fund. The London Interbank Offered Rate (LIBOR) is being phased out, which brings uncertainty to instruments tied to it. When bond inventories are low in relation to the market size, there is the potential for decreased liquidity and increased price volatility. Securities markets generally tend to move in cycles with periods when security prices rise and periods when security prices decline. 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.

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