Fund Evaluator:
Thrivent Multisector Bond S (IIINX)
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Best Performing in Multisector Bond Over the Last Year
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| 6.1% | Thrivent Multisector Bond S (IIINX) |
Fund Details
Thrivent Multisector Bond S Overview
Thrivent Multisector Bond S (IIINX) is an actively managed Taxable Bond Multisector Bond fund. Thrivent Funds launched the fund in 1997.
The investment seeks a high level of current income, consistent with capital preservation. The fund primarily invests in a broad range of debt securities. The debt securities in which it invests may be of any maturity or credit quality, including high-yield, high-risk instruments that are rated below investment grade, such as bonds, notes, debentures and other debt obligations. Below investment-grade securities are commonly known as “junk bonds,” which at the time of purchase are rated below BBB- by S&P or Baa3 by Moody's or are unrated but considered to be of comparable quality by the Adviser.
About Thrivent Multisector Bond S (IIINX)
There are 3 members of the management team with an average tenure of 5.00 years: Stephen Lowe (2018), Theron Whitehorn (2021), Jon-Paul (JP) Gagne (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US HY Ba/B 2% Issuer Cap TRUSD index with a weighting of 100%. Thrivent Multisector Bond S has 625 securities in its portfolio. The top 10 holdings constitute 57.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Thrivent Multisector Bond S is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Thrivent Multisector Bond S has 10.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.4%. There is 0.1% allocated to foreign stock, and 2.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 86.2% (76.3% domestic bond, 10.0% foreign bond and 3.1% convertible bond). Thrivent Multisector Bond S has -3.6% of the portfolio in cash.
Assets Under Management
The fund has $738 million in total assets, which is below the $1 billion average for the Multisector Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IIINX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Thrivent Multisector Bond S expense ratio is above average compared to funds in the Multisector Bond category. Thrivent Multisector Bond S has an expense ratio of 0.68%, which is 29% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Thrivent Multisector Bond S has a portfolio turnover rate of 95%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.
Recently, in the month of June 2026, Thrivent Multisector Bond S returned 0.3%, which earned it a grade of B, as the Multisector Bond category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Thrivent Multisector Bond S has a trailing yield of 4.89%, which is below the 5.25% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Thrivent Multisector Bond S Grades
Year to date, the fund has returned 2.1%, 0.5 percentage points better than the category, which translates into a grade of A. The fund has returned 6.1% over the past year (grade of B), 6.8% over the past three years (grade of C) and 2.6% per year over the past five years (grade of C) and 3.3% per year over the past 10 years (grade of D).
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IIINX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IIINX Return (NAV) | 0.3% | 2.1% | 6.1% | 6.8% | 2.6% | 3.3% |
| IIINX Grade | B | B | B | C | C | D |
| +/- Category | 0.1% | 0.2% | 0.9% | -0.1% | 0.1% | -0.4% |
| Multisector Bond Avg | 0.2% | 1.9% | 5.3% | 6.9% | 2.6% | 3.7% |
| IIINX Tax Cost Ratio | na | na | 2.0% | 2.0% | 1.9% | 1.7% |
IIINX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IIINX Return (NAV) | 2.1% | 8.1% | 5.1% | 8.8% | -10.3% | 1.7% | 4.0% | 8.5% | -1.0% | 5.1% | 7.4% |
| IIINX Grade | A | C | D | C | B | D | D | D | B | D | D |
| +/- Category | 0.5% | -0.0% | -0.6% | 0.4% | -0.2% | -0.5% | -2.3% | -1.8% | 0.9% | -1.5% | -0.1% |
| Multisector Bond Avg | 1.6% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.4% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | 4.2% |
| Total Risk Index: | 0.35 - Low |
| Category Risk Index: | 0.95 - Below Average |
| Category Risk Grade: | B (33% Rank) |
| Beta: | 0.72 |
| R-Squared: | 91% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 4.9% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $882 Mil |
| Fund Total Assets: | $ 738 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 95% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.3 years | |||
| Average Tenure: 5.0 years | |||
| Managers (Year): Lowe Stephen (2018), Whitehorn Theron (2021), Gagne Jon-Paul (JP) (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 625 |
| % in Top 10 Holdings: | 57.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.4% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 2.4% |
| Domestic Bond: | 76.3% |
| Foreign Bond: | 10.0% |
| Convertible Bond: | 3.1% |
| Other: | 11.4% |
| Cash: | -3.6% |
Purchase Information
| Fund Family: | Thrivent Funds |
| Phone Number: | 800-847-4836 |
| Website: | www.ThriventFunds.com. |
| Status: | Open |
| Inception Date: | December 29, 1997 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.68% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.95% |
| Share Class: | Thrivent Multisector Bond A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
