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Thrivent Diversified Income Plus Fund —
Class S
THYFX
THYFX
Thrivent Diversified Income Plus Fund
Class
Morningstar Rating
Conservative Allocation
Rating 4
Overall among 135 funds as of
05/31/2024
Morningstar ratings are calculated based on risk-adjusted return.
Risk profile
The risk profile for this fund is Moderately Conservative
Target allocation
20% Equity
80% Fixed Income
Inception date
12/29/1997
As of
Net asset value
-
Daily NAV change
-
As of N/A
YTD return
1.72%
1-year return
8.55%
As of 05/31/2024
Net annual fund operating expenses
0.70%
As of
Sales charge
None
As of

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

This Fund looks to provide an 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 fluctuate. The Fund is actively managed and invests in a combination of other funds managed by the Adviser and direct investments in equity and debt instruments.

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Fund management

Our seasoned team of more than 140 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 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.

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

    Mr. Whitehorn joined Thrivent in 2018 serving as Director of Fixed Income Quantitative Research. Read more.

  • David Spangler, CFA
    David Spangler, CFA
    Head of Mixed Assets and Market Strategies
    Managing this fund since 2022

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


Performance

All data represents past performance. Past performance does not guarantee 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 05/31/2024
0.70% Total annual fund operating expenses
Thrivent Diversified Income Plus Fund MSCI World Index - USD Net Returns Bloomberg U.S. Mortgage-Backed Securities Index Bloomberg U.S. High Yield Ba/B 2% Issuer Capped Index Morningstar Conservative Allocation Avg
3M 1.21% 3.82% -0.04% 1.35% 1.12%
YTD 1.72% 9.52% -2.12% 1.44% 1.50%
1Y 8.55% 24.92% 0.50% 10.50% 7.01%
3Y 0.20% 6.67% -3.31% 1.69% -0.35%
5Y 3.54% 12.76% -0.85% 4.25% 2.63%
10Y 3.73% 9.13% 0.80% 4.32% 2.65%
See data by:

Yields

as of 05/31/2024
12 Month Distribution
4.22%
30 Day SEC
3.90%
Monthly Distribution
4.42%

Growth of 10K

as of 05/31/2024
$14,420
Total market value
$5,118
Current value of reinvested dividends and capital gains

Calendar year performance

as of 05/31/2024

Characteristics

All data represents past performance. Past performance does not guarantee 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 05/31/2024
Total number of holdings
1922
Turnover ratio (as of 04/30/2024)
73%
85.96%
U.S.
14.04%
Non-U.S.

Top 10 Holdings

as of 04/30/2024
19.22%
of all holdings
N/A
N/A
Security name % of total assets Maturity Coupon rate
Thrivent Core Emerging Markets Debt Fund 7.74%
U.S. Treasury Bonds 1.68% 05/15/2053 3.63%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 1.63% 12/01/2052 4.50%
U.S. Treasury Notes 1.56% 12/31/2025 4.25%
U.S. Treasury Notes 1.44% 07/31/2028 4.13%
Thrivent Core International Equity Fund 1.24%
U.S. Treasury Bonds 1.17% 11/15/2053 4.75%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 0.95% 03/01/2052 3.00%
Federal National Mortgage Association Conventional 30-Yr. Pass Through 0.91% 01/01/2052 3.00%
Federal Home Loan Mortgage Corporation Conventional 30-Yr. Pass Through 0.90% 07/01/2053 5.50%

Fund Diversification

as of 03/28/2024
N/A
N/A
  • Large Cap Equity
    10.91%
  • Mid Cap Equity
    4.78%
  • Small Cap Equity
    .32%
  • International Equity
    2.91%
  • High Yield Bonds
    13.56%
  • Investment-Grade Corporates
    12.82%
  • Securitized Debt
    34.13%
  • U.S. Government Bonds
    6.61%
  • International Government Bonds
    6.42%
  • Flexible Income
    7.09%
  • Cash
    .46%

Equity characteristics

as of 05/31/2024
19.73%
of all holdings
P/E Ratio Return on Equity
Thrivent Diversified Income Plus Fund 23.01 25.72%
S&P 500® Index 26.09 29.42%

Fixed Income characteristics

as of 05/31/2024
80.27%
of fund
Duration Average Life
Thrivent Diversified Income Plus Fund 4.89 7.88
Bloomberg U.S. Aggregate Bond Index 6.07 8.62

Credit quality rating distribution

as of 05/31/2024
N/A
N/A
Bond type
% of total
  • High Quality (HQ) Bonds
    62.21%
  • U.S. Government Guaranteed
    35.27%
  • AAA
    0.33%
  • AA
    2.57%
  • A
    8.59%
  • BBB
    15.45%
Bond type
% of total
  • High Yield (HY) Bonds
    23.28%
  • BB
    10.75%
  • B
    10.87%
  • CCC
    1.11%
  • CC
    0.24%
  • C
    0.01%
  • D
    0.30%
  • Non-Rated (NR) Bonds
    12.94%
  • May be HQ/HY/NR Bonds
    1.57%
  • ETFs/Closed-End Funds
    1.57%

Beta

as of 05/31/2024
THYFX
0.45
R2=46%
Lower than benchmark
S&P 500 1.0
Higher than benchmark

Volatility

as of 05/31/2024
Standard deviation Average annualized returns
Thrivent Diversified Income Plus Fund 8.76 0.20
S&P 500® Index 17.81 9.57
Bloomberg U.S. Aggregate Bond Index 7.22 -3.10

Ratings


Morningstar

as of 05/31/2024
Category: Conservative Allocation
Morningstar Information
Check out our funds that received 4- or 5-Star Overall Morningstar RatingTM
Funds in category
Overall
4 out of five stars
135
funds in category
3-Year
3 out of five stars
135
funds in category
5-Year
3 out of five stars
131
funds in category
10-Year
5 out of five stars
102
funds in category
Risk vs. category
High
135
funds in category
Return vs. category
Above Average
135
funds in category

Morningstar ratings are calculated based on risk-adjusted return.

Equity Style Map
Large
Mid
Small
Value
Blend
Growth
Weighted average of holdings
75% of fund's stock holdings

Distributions

as of 05/31/2024
Dividends Month End Nav
June 2023 $0.0235 $6.64
July 2023 $0.0243 $6.69
August 2023 $0.0243 $6.61
September 2023 $0.0237 $6.41
October 2023 $0.0244 $6.25
November 2023 $0.0251 $6.56
December 2023 $0.0261 $6.80
January 2024 $0.0216 $6.79
February 2024 $0.0226 $6.79
March 2024 $0.0239 $6.87
April 2024 $0.0227 $6.68
May 2024 $0.0250 $6.80

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 05/31/2024
Record date Short term capital gains Long term capital gains Total
- - - -

Expenses, fees, and charges

Management Fees and Other Expenses 0.70%
Distribution/12b-1 Fee None
Total Annual Fund Operating Expenses 0.70%
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 -

Due to rounding, some values may not total 100%.

Strategy

The Fund has a long-term target allocation of 80% fixed income and 20% 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

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 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, and issuers. The Adviser is also subject to actual or potential conflicts of interest. The use of derivatives (such as futures) involves additional risks and transaction costs. Foreign investments involve additional risks, such as currency fluctuations and political, economic and market instability, which may be magnified for investments in emerging markets. 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. Preferred securities, sovereign debt, and mortgage-related and other asset-backed securities are subject to additional risks. When bond inventories are low in relation to the market size, there is the potential for decreased liquidity and increased price volatility. The Fund invests in other funds; therefore, the Fund is dependent upon the performance of the other funds and is subject to the risks, additional fees and expenses of the other funds. When interest rates fall, certain obligations are paid off more quickly and proceeds may have to be invested in securities with lower yields. The use of quantitative investing techniques also involves risks. These and other risks are described in the prospectus.

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