Fund Evaluator:

Thrivent Moderately Agrsv Allocation S Overview

Thrivent Moderately Agrsv Allocation S (TMAFX) is an actively managed Allocation Moderately Aggressive Allocation fund. Thrivent Funds launched the fund in 2005.

The investment seeks long-term capital growth. The fund pursues its objective by investing in a combination of other funds managed by the Adviser and directly held financial instruments. The fund is designed for investors who seek moderately greater long-term capital growth and are comfortable with moderately higher levels of risk and volatility. It allocates 60%-90% of its assets in equity securities and 10%-40% in debt securities.

About Thrivent Moderately Agrsv Allocation S (TMAFX)

There are 3 members of the management team with an average tenure of 8.65 years: David Spangler (2019), Stephen Lowe (2016), David Royal (2018). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Thrivent Moderately Agrsv Allocation S has 1331 securities in its portfolio. The top 10 holdings constitute 62.7% 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 Moderately Agrsv Allocation S is part of the Allocation global asset class and is within the Allocation fund group. Thrivent Moderately Agrsv Allocation S has 16.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 64.2%. There is 15.8% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 14.5% (13.7% domestic bond, 0.8% foreign bond and 0.0% convertible bond). Thrivent Moderately Agrsv Allocation S has -5.3% of the portfolio in cash.

Assets Under Management

The fund has $2 billion in total assets, which is above the $570 million average for the Moderately Aggressive Allocation 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.

TMAFX 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 Moderately Agrsv Allocation S expense ratio is high compared to funds in the Moderately Aggressive Allocation category. Thrivent Moderately Agrsv Allocation S has an expense ratio of 0.91%, which is 11% lower than its category average, making the fund expense ratio grade a C. 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 Moderately Agrsv Allocation S has a portfolio turnover rate of 49%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 34% for the Moderately Aggressive Allocation category.

Recently, in the month of July 2026, Thrivent Moderately Agrsv Allocation S returned -0.2%, which earned it a grade of B, as the Moderately Aggressive Allocation category had an average return of -0.4%. 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 Moderately Agrsv Allocation S has a trailing yield of 1.30%, which is below the 1.47% category average. The fund normally distributes its income annually 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 Moderately Agrsv Allocation S Grades

Year to date, the fund has returned 8.8%, 1.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 16.5% over the past year (grade of C), 13.9% over the past three years (grade of D) and 7.5% per year over the past five years (grade of D) and 9.8% per year over the past 10 years (grade of C).

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