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Thrivent Diversified Income Plus Fund —
Class A
AAHYX
AAHYX
Thrivent Diversified Income Plus Fund
Class
S
A
Risk profile
Conservative Aggressive
Target allocation
25% Equity
75% Fixed Income
Inception date
1/8/1997
As of
Public offering price
N/A
Net asset value
N/A
Daily NAV change
$N/A
As of N/A
YTD return with sales charge
-0.96%
1-year return with sales charge
10.92%
As of 05/28/2021
Net annual fund operating expenses
0.96%
As of
Max sales charge
4.50%
As of

Thrivent Diversified Income Plus Fund seeks to maximize income while maintaining prospects for capital appreciation.

This fund looks to provide a steady and dependable income stream along with modest capital appreciation. It invests in higher-yielding, higher-risk, fixed-income securities to generate income, and in equities to provide potential growth and income. Investments are diversified across sectors in order to manage risk and potentially provide more stability when interest rates rise. The Fund is actively managed and invests in a combination of direct investments in stocks, bonds, and derivatives and other funds managed by the Adviser or an affiliate.

Strategy

The Fund has a long-term target allocation of 75% fixed income and 25% equity securities. The portfolio management team actively manages the Fund with overweight and underweight positions in various sectors based on their views of the market and economy. Individual stocks and bonds are analyzed and chosen on an ongoing basis. The Fund is regularly rebalanced to ensure that the holdings are within appropriate ranges.

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, 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, preferred securities, 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 Fund invests in other funds managed by the Adviser or an affiliate and in directly-held equity and debt instruments. 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 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 use of quantitative investing techniques and derivatives such as futures also involve risks. The Fund may engage in active and frequent trading of portfolio securities, which may result in higher transaction costs and higher taxes. 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 high level of income and the opportunity for long-term growth
  • 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.

  • Stephen D. Lowe, CFA
    Stephen D. Lowe, CFA
    Chief Investment Strategist
    Managing this fund since 2015

    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.

  • Gregory R. Anderson, CFA
    Gregory R. Anderson, CFA
    Senior Portfolio Manager
    Managing this fund since 2018

    Mr. Anderson joined Thrivent in 1997. He has served as a portfolio manager since 2000. 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
0.96% Total annual fund operating expenses
See data by:

All performance shown reflects the current maximum sales charge of 4.5%.


Yields

as of 05/28/2021
12 Month Distribution
2.11%
30 Day SEC
1.10%
30 Day SEC Pre-Waiver
1.10%
Monthly Distribution
1.84%

Growth of 10K

as of 05/28/2021
Data in this section is based on month-end
$17,718
Total market value
(assumes the reinvestment of all dividends and capital gains)
$5,666
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
1731
Turnover ratio (as of 04/30/2021)
187.00%
U.S. holdings
89.50%
U.S.
10.50%
Non-U.S.

Top 10 Holdings

as of 04/30/2021
29.50%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
Thrivent Core Emerging Markets Debt Fund 8.46%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 5.06% 05/01/2036 2.0%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 3.25% 05/01/2051 2.5%
Thrivent Core International Equity Fund 3.11%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 2.60% 05/01/2036 2.5%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 2.10% 05/01/2051 2.0%
Federal National Mortgage Association Conventional 15-Yr. Pass Through 1.70% 05/01/2036 1.5%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 1.45% 06/01/2051 2.5%
Invesco Senior Loan ETF 1.05%
Government National Mortgage Association Conventional 30-Yr. Pass Through 0.72% 05/01/2051 2.5%

Fund Diversification

as of 03/31/2021
N/A
N/A
  • Securitized Debt
    27.40%
  • High Yield Bonds
    14.60%
  • US Large Cap Equity
    10.80%
  • Investment Grade Credit
    8.80%
  • Floating-Rate Bank Loans
    8.80%
  • Cash
    7.30%
  • International Debt
    7.00%
  • Opportunistic Fixed Income
    5.30%
  • International Equity
    3.50%
  • Government Bonds
    2.40%
  • Opportunistic Equity
    2.10%
  • US Mid/Small Cap Equity
    2.00%

Equity characteristics

as of 05/28/2021
18.40%
of all holdings
P/E Ratio Return on Equity
Thrivent Diversified Income Plus Fund 26.10 16.60%
S&P 500® Index 26.34 22.88%

Fixed Income

as of 05/28/2021
81.60%
of fund
Duration Avg. Life
Thrivent Diversified Income Plus Fund 3.80 6.00
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
    51.30%
  • Cash
    2.50%
  • U.S. Government Guaranteed
    28.60%
  • AAA
    .00%
  • AA
    1.10%
  • A
    5.70%
  • BBB
    13.40%
Bond type
% of total
  • High Yield (HY) Bonds
    37.70%
  • BB
    15.60%
  • B
    18.10%
  • CCC
    3.70%
  • CC
    .10%
  • C
    .10%
  • D
    .10%
  • Non-Rated (NR) Bonds
    8.40%
  • May be HQ/HY/NR Bonds
    2.60%
  • ETFs/Closed-End Funds
    2.60%

Beta

as of 05/28/2021
AAHYX (this fund)
0.43
R2=86%
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 (without sales charge)
Thrivent Diversified Income Plus Fund 8.68 6.35
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
Funds in category
Overall
493
3-Year
493
5-Year
443
10-Year
270
Risk vs. category
Below Average
493
Return vs. category
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 Month End Pop
June 2020 $0.0143 $7.05 $7.38
July 2020 $0.0132 $7.23 $7.57
August 2020 $0.0153 $7.36 $7.71
September 2020 $0.0147 $7.28 $7.62
October 2020 $0.0133 $7.24 $7.58
November 2020 $0.0137 $7.58 $7.94
December 2020 $0.0220 $7.71 $8.07
January 2021 $0.0120 $7.68 $8.04
February 2021 $0.0120 $7.76 $8.13
March 2021 $0.0131 $7.78 $8.15
April 2021 $0.0120 $7.90 $8.27
May 2021 $0.0121 $7.93 $8.30

Trailing 12-Months; Dividend Schedule: Paid Monthly

Capital gain distribution amounts may change due to reclassifications relating to the fund’s holdings in REIT investments. See Corporate Actions Impacting Cost Basis for information about previous return of capital distributions.


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 0.71%
Distribution/12b-1 Fee 0.25%
Total Annual Fund Operating Expenses 0.96%
Redemption Fee None
Transaction Fee None
Low Balance Fee $10 semiannually
Front-End Sales Charge Max 4.50%
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 -