Fund Evaluator:
Thrivent International Equity A (TWAAX)
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Best Performing in Foreign Large Blend Over the Last Year
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Fund Details
Thrivent International Equity A Overview
Thrivent International Equity A (TWAAX) is an actively managed International Equity Foreign Large Blend fund. Thrivent Funds launched the fund in 2008.
The investment seeks long-term capital growth. The fund seeks to achieve its objective by investing primarily in equity securities of issuers throughout the world. It seeks to diversify its portfolio broadly among developed and emerging countries and among multiple asset classes. Under normal market conditions, the fund invests at least 40% of its net assets in foreign assets. If market conditions are not deemed favorable by the Adviser, the fund could invest a lower percentage, but at least 30% of its net assets in foreign assets.
About Thrivent International Equity A (TWAAX)
There are 4 members of the management team with an average tenure of 6.63 years: Noah Monsen (2016), Brian Bomgren (2016), Jing Wang (2023), Shu Guo (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI ACWI Ex USA NR USD index with a weighting of 100%. Thrivent International Equity A has 1369 securities in its portfolio. The top 10 holdings constitute 25.7% 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 International Equity A is part of the Equity global asset class and is within the International Equity fund group. Thrivent International Equity A has 99.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.8%. There is 99.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.1% (0.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Thrivent International Equity A has -4.9% of the portfolio in cash.
Assets Under Management
The fund has $135 million in total assets, which is below the $2 billion average for the Foreign Large Blend 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.
TWAAX 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 International Equity A expense ratio is high compared to funds in the Foreign Large Blend category. Thrivent International Equity A has an expense ratio of 1.15%, which is 22% higher than its category average, making the fund expense ratio grade a D. 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 International Equity A has a portfolio turnover rate of 78%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Foreign Large Blend category.
Recently, in the month of July 2026, Thrivent International Equity A returned -1.3%, which earned it a grade of F, as the Foreign Large Blend category had an average return of 0.7%. 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 International Equity A has a trailing yield of 2.08%, which is below the 2.17% 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 International Equity A Grades
Year to date, the fund has returned 13.1%, 1.5 percentage points better than the category, which translates into a grade of B. The fund has returned 26.1% over the past year (grade of B), 16.4% over the past three years (grade of C) and 8.3% per year over the past five years (grade of C) and 7.8% per year over the past 10 years (grade of F).
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TWAAX 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 |
|
| TWAAX Return (NAV) | -1.3% | 3.6% | 26.1% | 16.4% | 8.3% | 7.8% |
| TWAAX Grade | F | D | B | C | C | F |
| +/- Category | -2.0% | -0.8% | 1.9% | 0.5% | -0.1% | -1.3% |
| Foreign Large Blend Avg | 0.7% | 4.4% | 24.2% | 15.9% | 8.4% | 9.1% |
| TWAAX Tax Cost Ratio | na | na | 1.6% | 1.0% | 1.1% | 1.0% |
TWAAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TWAAX Return (NAV) | 13.1% | 30.2% | 3.9% | 17.5% | -18.6% | 13.9% | 3.4% | 20.0% | -15.8% | 23.1% | 2.9% |
| TWAAX Grade | B | C | D | B | D | A | F | F | D | F | B |
| +/- Category | 1.5% | -0.3% | -1.0% | 1.3% | -2.2% | 3.8% | -8.4% | -3.0% | -0.6% | -3.3% | 1.9% |
| Foreign Large Blend Avg | 11.6% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | 13.2% |
| Total Risk Index: | 1.07 - Above Average |
| Category Risk Index: | 1.02 - Above Average |
| Category Risk Grade: | D (67% Rank) |
| Beta: | 0.92 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1118 Mil |
| Fund Total Assets: | $ 136 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 78% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 10.4 years | |||
| Average Tenure: 6.6 years | |||
| Managers (Year): Monsen Noah (2016), Bomgren Brian (2016), Wang Jing (2023), Guo Shu (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1369 |
| % in Top 10 Holdings: | 25.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 99.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.8% |
| Foreign Stock: | 99.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 4.1% |
| Cash: | -4.9% |
Purchase Information
| Fund Family: | Thrivent Funds |
| Phone Number: | 800-847-4836 |
| Website: | www.ThriventFunds.com. |
| Status: | Open |
| Inception Date: | February 29, 2008 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 4.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.15% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Thrivent International Equity S |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
