Fund Evaluator:
Thrivent Short-Term Bond S (THLIX)
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Fund Details
Thrivent Short-Term Bond S Overview
Thrivent Short-Term Bond S (THLIX) is an actively managed Taxable Bond Short-Term Bond fund. Thrivent Funds launched the fund in 1999.
The investment seeks a high level of current income consistent with stability of principal. Under normal market conditions, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in investment grade debt securities or preferred stock. At the time of purchase, these investment grade securities are rated at or above BBB- by S&P, or Baa3 by Moody’s, or unrated but considered to be of comparable quality by the Adviser, with the dollar-weighted average effective maturity for the fund expected to be between one and five years.
About Thrivent Short-Term Bond S (THLIX)
There are 2 members of the management team with an average tenure of 5.84 years: Cortney Swensen (2020), Jon-Paul (JP) Gagne (2021). 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 Govt/Credit 1-3 Yr TR USD index with a weighting of 100%. Thrivent Short-Term Bond S has 556 securities in its portfolio. The top 10 holdings constitute 13.1% 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 Short-Term Bond S is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Thrivent Short-Term Bond S has 20.9% 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 1.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 104.0% (83.2% domestic bond, 20.9% foreign bond and 0.0% convertible bond). Thrivent Short-Term Bond S has -5.5% of the portfolio in cash.
Assets Under Management
The fund has $899 million in total assets, which is above the $893 million average for the Short-Term 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.
THLIX 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 Short-Term Bond S expense ratio is average compared to funds in the Short-Term Bond category. Thrivent Short-Term Bond S has an expense ratio of 0.44%, which is 33% 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 Short-Term Bond S has a portfolio turnover rate of 81%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 134% for the Short-Term Bond category.
Recently, in the month of June 2026, Thrivent Short-Term Bond S returned 0.2%, which earned it a grade of A, as the Short-Term Bond category had an average return of 0.1%. 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 Short-Term Bond S has a trailing yield of 4.34%, which is above the 4.15% 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 Short-Term Bond S Grades
Year to date, the fund has returned 1.1%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 3.9% over the past year (grade of B), 5.7% over the past three years (grade of A) and 2.9% per year over the past five years (grade of A) and 2.7% per year over the past 10 years (grade of B).
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THLIX 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 |
|
| THLIX Return (NAV) | 0.2% | 0.9% | 3.9% | 5.7% | 2.9% | 2.7% |
| THLIX Grade | A | B | B | A | A | B |
| +/- Category | 0.1% | 0.2% | 0.4% | 0.5% | 0.6% | 0.4% |
| Short-Term Bond Avg | 0.1% | 0.8% | 3.5% | 5.2% | 2.3% | 2.3% |
| THLIX Tax Cost Ratio | na | na | 1.7% | 1.6% | 1.3% | 1.1% |
THLIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| THLIX Return (NAV) | 1.1% | 6.1% | 5.6% | 6.4% | -4.3% | 0.2% | 4.1% | 4.7% | 0.9% | 2.4% | 2.7% |
| THLIX Grade | B | B | A | B | B | B | C | C | C | B | B |
| +/- Category | 0.2% | 0.3% | 0.7% | 0.8% | 0.7% | 0.2% | -0.2% | -0.0% | 0.2% | 0.5% | 0.2% |
| Short-Term Bond Avg | 0.9% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.8% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 1.7% |
| Total Risk Index: | 0.14 - Low |
| Category Risk Index: | 0.88 - Average |
| Category Risk Grade: | C (54% Rank) |
| Beta: | 0.28 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1133 Mil |
| Fund Total Assets: | $ 900 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 81% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.3 years | |||
| Average Tenure: 5.8 years | |||
| Managers (Year): Swensen Cortney (2020), Gagne Jon-Paul (JP) (2021) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 556 |
| % in Top 10 Holdings: | 13.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 20.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.4% |
| Domestic Bond: | 83.2% |
| Foreign Bond: | 20.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -5.5% |
Purchase Information
| Fund Family: | Thrivent Funds |
| Phone Number: | 800-847-4836 |
| Website: | www.ThriventFunds.com. |
| Status: | Open |
| Inception Date: | October 29, 1999 |
| 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 (%): | 0.44% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | Thrivent Short-Term Bond S |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
