Fund Evaluator:
Thrivent Income S (LBIIX)
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Best Performing in Corporate Bond Over the Last Year
| 3.2% | Vanguard Global Credit Bond Admiral (VGCAX) |
| 3.2% | Vanguard Interm-Term Investment-Grde Adm (VFIDX) |
| 3.0% | Vanguard Interm-Term Invmt-Grade Inv (VFICX) |
| 3.0% | Vanguard Global Credit Bond Investor (VGCIX) |
| 3.0% | Vanguard Interm-Term Corp Bd Idx Admiral (VICSX) |
Fund Details
Thrivent Income S Overview
Thrivent Income S (LBIIX) is an actively managed Taxable Bond Corporate Bond fund. Thrivent Funds launched the fund in 1997.
The investment seeks high current income while preserving principal; the fund's secondary investment objective is to obtain long-term growth of capital in order to maintain investors' purchasing power. The principal strategies of the fund are to invest in investment-grade corporate bonds, government bonds, asset-backed securities, mortgage-backed securities, and other types of debt securities. Under normal conditions, at least 65% of its assets will be invested in investment grade debt securities or preferred stock.
About Thrivent Income S (LBIIX)
There are 2 members of the management team with an average tenure of 6.26 years: Kent White (2017), Cortney Swensen (2023). 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 Corp Bond TR USD index with a weighting of 100%. Thrivent Income S has 589 securities in its portfolio. The top 10 holdings constitute 8.1% 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 Income S is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Thrivent Income S has 16.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 1.8% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 100.4% (84.1% domestic bond, 16.3% foreign bond and 0.3% convertible bond). Thrivent Income S has -2.5% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $723 million average for the Corporate 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.
LBIIX 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 Income S expense ratio is average compared to funds in the Corporate Bond category. Thrivent Income S has an expense ratio of 0.47%, which is 37% 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 Income S has a portfolio turnover rate of 69%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 117% for the Corporate Bond category.
Recently, in the month of July 2026, Thrivent Income S returned -1.5%, which earned it a grade of B, as the Corporate Bond category had an average return of -1.6%. 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 Income S has a trailing yield of 4.70%, which is above the 4.39% 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 Income S Grades
Year to date, the fund has returned -0.6%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 2.4% over the past year (grade of C), 4.9% over the past three years (grade of B) and 0.1% per year over the past five years (grade of B) and 2.7% per year over the past 10 years (grade of A).
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LBIIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LBIIX Return (NAV) | -1.5% | -0.8% | 2.4% | 4.9% | 0.1% | 2.7% |
| LBIIX Grade | B | C | C | B | B | A |
| +/- Category | 0.1% | 0.0% | 0.2% | 0.4% | 0.4% | 0.5% |
| Corporate Bond Avg | -1.6% | -0.8% | 2.3% | 4.5% | -0.3% | 2.2% |
| LBIIX Tax Cost Ratio | na | na | 1.8% | 1.8% | 1.7% | 1.6% |
LBIIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LBIIX Return (NAV) | -0.6% | 7.8% | 3.2% | 9.1% | -15.9% | -0.5% | 11.9% | 13.5% | -2.3% | 6.3% | 6.3% |
| LBIIX Grade | B | B | B | A | B | B | A | D | B | C | C |
| +/- Category | 0.2% | 0.4% | 0.5% | 0.9% | -0.1% | 0.5% | 1.9% | -0.4% | 0.6% | -0.1% | -0.6% |
| Corporate Bond Avg | -0.9% | 7.4% | 2.7% | 8.2% | -15.7% | -1.0% | 10.0% | 13.9% | -2.9% | 6.3% | 6.9% |
| Risk Measures | |
| Standard Deviation: | 6.1% |
| Total Risk Index: | 0.50 - Below Average |
| Category Risk Index: | 1.01 - Below Average |
| Category Risk Grade: | B (28% Rank) |
| Beta: | 1.07 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1252 Mil |
| Fund Total Assets: | $1,042 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 69% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.1 years | |||
| Average Tenure: 6.3 years | |||
| Managers (Year): White Kent (2017), Swensen Cortney (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 589 |
| % in Top 10 Holdings: | 8.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.8% |
| Domestic Bond: | 84.1% |
| Foreign Bond: | 16.3% |
| Convertible Bond: | 0.3% |
| Other: | 0.0% |
| Cash: | -2.5% |
Purchase Information
| Fund Family: | Thrivent Funds |
| Phone Number: | 800-847-4836 |
| Website: | www.ThriventFunds.com. |
| Status: | Open |
| Inception Date: | October 31, 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 (%): | 0.47% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.75% |
| Share Class: | Thrivent Income A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
