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Thrivent Balanced Income Plus Fund —
Class S
IBBFX
IBBFX
Thrivent Balanced Income Plus Fund
Class
S
A
Morningstar Rating
Allocation--30% to 50% Equity
Overall among 493 funds as of
05/31/2021
Morningstar ratings are calculated based on risk-adjusted return.
Risk profile
Conservative Aggressive
Target allocation
50% Equity
50% Fixed Income
Inception date
12/29/1997
As of
Net asset value
N/A
Daily NAV change
$N/A
As of N/A
YTD return
6.96%
1-year return
25.80%
As of 05/28/2021
Net annual fund operating expenses
0.79%
As of
Sales charge
None
As of

Thrivent Balanced Income Plus Fund seeks long-term total return through a balance between income and the potential for long-term capital growth.

This fund provides a balanced approach to income and capital appreciation. The Fund is actively managed and invests in a combination of other funds managed by the Adviser or an affiliate and direct investments in stocks, bonds, and derivatives. Approximately half of the portfolio is invested in equity securities to provide potential growth, while the other half of the portfolio is invested in higher-yielding, higher-risk, fixed-income securities to generate income. Investments are diversified across sectors in order to manage risk, potentially provide more stability when interest rates rise, and to provide the opportunity for long-term capital growth and income.

Strategy

The Fund has a long-term target allocation of 50% equity securities and 50% fixed income. The portfolio management team actively manages the Fund with overweight and underweight positions in the various sectors based on their views of the market and economy. Individual stocks and bonds are analyzed and selected on an ongoing basis. The Fund is regularly rebalanced to ensure that the holdings are within appropriate ranges. Prior to August 16, 2013, the Fund was named Thrivent Balanced Fund. It invested in a balanced mix of stocks, bonds and cash alternatives. On August 16, 2013, the Fund adopted its current name and investment strategy, which includes the ability to invest a greater portion of its assets in higher-yielding fixed-income securities.

Risk

The Fund’s value is influenced by a number of factors, including the performance of the broader market, the effectiveness of the Adviser’s allocation strategy, and risks specific to the Fund’s asset classes, market cap groups, 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. When interest rates fall, certain obligations will be paid off more quickly and proceeds may have to be invested in securities with lower yields. Leveraged loans,  sovereign debt, and mortgage-related and other asset-backed securities are subject to additional risks. Foreign investments involve additional risks, such as currency fluctuations and political, economic and market instability, which may be magnified for investments in emerging markets. 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 Adviser's assessment of investments may prove incorrect, resulting in losses or poor performance. The Adviser is also subject to actual or potential conflicts of interest.  The Fund invests in in directly-held equity and debt instruments and in other funds managed by the Adviser or an affiliate. The Fund is dependent upon the performance of the other funds and is subject to the risks and additional fees and expenses of the other funds. The use of quantitative investing techniques and derivatives such as futures also involve risks. When bond inventories are low in relation to the market size, there is the potential for decreased liquidity and increased price volatility.  These and other risks are described in the prospectus.

The Fund may be suitable for investors who:

  • Seek a balance of income and the opportunity for long-term growth
  • Have a medium to long-term investment time horizon and a moderate risk tolerance
  • Are able to withstand a moderate level of risk and volatility in pursuit of moderate long-term returns
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.

  • Stephen D. Lowe, CFA
    Stephen D. Lowe, CFA
    Chief Investment Strategist
    Managing this fund since 2013

    Mr. Lowe joined Thrivent in 1997. He is the Chief Investment Strategist and has served as the portfolio manager of various Thrivent mutual funds since 2009. He has also been a senior portfolio manager of the high yield portion of Thrivent's general account since 2005. Read more.

  • David Spangler, CFA
    David Spangler, CFA
    Head of Mixed Asset and Market Strategies
    Managing this fund since 2019

    Mr. Spangler joined Thrivent in 2002 serving as Director of Thrivent’s Investment Product Management group. Read more.

  • Theron G. Whitehorn, CFA
    Theron G. Whitehorn, CFA
    Portfolio Manager
    Managing this fund since 2021

    Mr. Whitehorn joined Thrivent in 2018 serving as Director of Fixed Income Quantitative Research. 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
0.79% Total annual fund operating expenses
See data by:

Yields

as of 05/28/2021
12 Month Distribution
1.94%
30 Day SEC
0.83%
30 Day SEC Pre-Waiver
0.83%
Monthly Distribution
N/A

Growth of 10K

as of 05/28/2021
Data in this section is based on month-end
$20,565
Total market value
(assumes the reinvestment of all dividends and capital gains)
$9,234
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
1684
Turnover ratio (as of 04/30/2021)
106.00%
U.S. holdings
85.90%
U.S.
14.10%
Non-U.S.

Top 10 Holdings

as of 04/30/2021
26.41%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
Thrivent Core International Equity Fund 8.04%
Thrivent Core Emerging Markets Debt Fund 6.16%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 2.61% 05/01/2036 2.0%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 2.19% 06/01/2051 2.5%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 1.63% 05/01/2036 2.5%
Microsoft Corporation 1.46%
Amazon.com, Inc. 1.34%
Apple, Inc. 1.25%
Alphabet, Inc., Class A 0.87%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 0.86% 05/01/2051 2.0%

Fund Diversification

as of 03/31/2021
N/A
N/A
  • US Large Cap Equity
    28.00%
  • Securitized Debt
    13.30%
  • Floating-Rate Bank Loans
    10.10%
  • International Equity
    8.90%
  • Investment Grade Credit
    7.10%
  • High Yield Bonds
    6.90%
  • US Mid/Small Cap Equity
    6.70%
  • Cash
    6.00%
  • International Debt
    5.20%
  • Opportunistic Fixed Income
    3.50%
  • Government Bonds
    2.70%
  • Opportunistic Equity
    1.60%

Equity characteristics

as of 05/28/2021
45.20%
of all holdings
P/E Ratio Return on Equity
Thrivent Balanced Income Plus Fund 26.20 17.10%
S&P 500® Index 26.34 22.88%

Fixed Income

as of 05/28/2021
54.80%
of fund
Duration Avg. Life
Thrivent Balanced Income Plus Fund 3.80 5.80
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
    50.10%
  • Cash
    3.60%
  • U.S. Government Guaranteed
    24.90%
  • AAA
    .00%
  • AA
    1.20%
  • A
    5.90%
  • BBB
    14.50%
Bond type
% of total
  • High Yield (HY) Bonds
    40.30%
  • BB
    14.80%
  • B
    22.20%
  • CCC
    3.20%
  • CC
    .10%
  • C
    .00%
  • D
    .00%
  • Non-Rated (NR) Bonds
    7.50%
  • May be HQ/HY/NR Bonds
    2.10%
  • ETFs/Closed-End Funds
    2.10%

Beta

as of 05/28/2021
IBBFX (this fund)
0.65
R2=92%
Lower than benchmark
S&P 500 1.0
Higher than benchmark

Volatility

as of 05/28/2021
Depending on the fund inception date, some data may not be available.
Standard deviation Average annualized returns
Thrivent Balanced Income Plus Fund 12.54 8.64
S&P 500® Index 18.52 18.00
Bloomberg Barclays U.S. Aggregate Bond Index 3.40 5.06

Ratings


Morningstar

as of 05/28/2021
Category: Allocation--30% to 50% Equity
Morningstar Information
Check out our funds that received 4- or 5-Star Overall Morningstar RatingTM
Funds in category
Overall
493
3-Year
493
5-Year
443
10-Year
270
Risk vs. category
High
493
Return vs. category
Above Average
493
Fixed income style box
Hi
Med
Low
QUALITY
Limited
Moderate
Extensive
SENSITIVITY
Equity Style Map
Large
Mid
Small
Value
Blend
Growth
Weighted average of holdings
75% of fund's stock holdings

Morningstar ratings are calculated based on risk-adjusted return.


Distributions

as of 05/28/2021
Dividends Month End Nav
June 2020 $0.0714 $12.14
July 2020 $0.0000 $12.55
August 2020 $0.0000 $12.99
September 2020 $0.0609 $12.71
October 2020 $0.0000 $12.60
November 2020 $0.0000 $13.58
December 2020 $0.1087 $13.89
January 2021 $0.0000 $13.82
February 2021 $0.0000 $14.12
March 2021 $0.0457 $14.28
April 2021 $0.0000 $14.70
May 2021 $0.0000 $14.81

Trailing 12-Months; Dividend Schedule: Paid Quarterly


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 0.79%
Distribution/12b-1 Fee None
Total Annual Fund Operating Expenses 0.79%
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 -