Natural Resources (TREFX)

Fund Fact Sheet (PDF, 96 K)

All data represents past performance. Past performance is not an indication of future results. Current performance may be lower or higher than the performance data quoted. Total returns and per share prices are subject to fluctuations and shares when redeemed may be worth more or less than their original value. Contact us with questions about performance including results current to the most recent month-end.

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This chart illustrates changes in the fund's net asset value (NAV) or share price. It is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. It does not include any front or back-end sales charges. When dividends or capital gains are distributed, the fund's share price drops by the amount of the distribution and additional shares are issued. As a result, the fund's total return may be greater than what is shown here. Total return for each fund as of the most recent month end can be found on the Fund Comparison page of Thrivent.com.

Portfolio Management

David C. Francis, CFA, HEAD of Equity Investments

Began managing this fund: 2011
Began investment industry experience: 1978

Darren M. Bagwell, CFA

Began managing this fund: 2011
Began investment industry experience: 1988

 

Darren M. Bagwell, CFA

Darren Bagwell has served as portfolio manager for the Thrivent Small Cap Stock Fund since 2010, and the Thrivent Balanced Fund since 2005. He has been with Thrivent since 2002, originally as an equity analyst before becoming Director of Equity Research in 2004. Bagwell joined Thrivent after more than a decade as a research analyst and banker with the investment banking firms Robert W. Baird and Robertson Stephens, where he focused on the Capital Goods and Business Services industries. He has a Management Systems degree from GMI Engineering & Management Institute, an MBA from Columbia University, and holds the Chartered Financial Analyst (CFA) designation.

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David C. Francis, CFA, Head of Equities

David Francis is responsible for managing the equity investment division of Thrivent Asset Management, which includes portfolio management, research and trading for over $11 Billion in assets. He is also a member of the Investment Strategy Committee responsible for the $9.5 Billion Thrivent family of asset allocation funds. He has been with Thrivent Asset Management for 10 years. He has 31 years of investment and management experience, over the years serving as analyst, equity portfolio manager and in various leadership positions in national asset management companies. He is a Chartered Financial Analyst and earned his BA and MBA at the University of Pittsburgh.

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Percentage Returns for TREFX  as of 04/22/2014 NAV1
POP2
Year-To-Date
6.33%
0.47%
1-year
18.04%
11.59%
3-year
1.05%
-0.83%
5-year
16.53%
15.22%
10-year
N/A
N/A
Life (since 06/30/2005)
3.60%
2.94%

Quarterly Performance (Link opens in new window) (PDF, 67K)

Details
NAV 04/22/2014 $10.58
12 Month Low-High $8.95-$10.61
Total Assets
(millions) 04/22/2014
$17.1
30-Day SEC Yield Before Fee Waivers N/A N/A
30-Day SEC Yield After Fee Waivers N/A N/A
Minimum to Invest $2,000
Gross Expense Ratio 1.82%
Net Expense RatioC1 1.31%
Expense Ratio As of Date 02/28/2014

All information in the tables above is subject to change.

Total Assets: Total assets within all share classes of the Fund.

Weighted Average Market Capitalization: A calculation intended to measure the size of the companies in the Fund, weighted by the market capitalization of each stock in the Fund. In such a weighting scheme, larger companies account for a greater portion of the Fund.

Median Market Capitalization: The midpoint of market capitalization (market price multiplied by the number of shares outstanding) of the stocks in the Fund. Half of the stocks in the portfolio will have higher market capitalizations; half will have lower.

Turnover Ratio: Percentage of holdings replaced with other holdings within a rolling 12-month period.

Average Life: Average length of time before the bond issuer pays the bond holder.

Duration: A measure of the portfolio's price sensitivity to interest rate changes. The longer the portfolio's duration, the more sensitive it is to interest rate changes.

30-Day SEC Yields are based on net investment income per share during the previous 30 calendar days, as of date shown, divided by the maximum public offering price and expressed as an annualized percentage. Since share prices and yields are subject to fluctuation, current yields should not be considered an indication of future results.

Standard Deviation: A statistical measure of volatility. The higher the standard deviation, the riskier an investment is considered to be.

Past performance is no indication of future results.

All returns greater than one year are annualized. Returns for periods of less than one year are not annualized.

1 The performance of the Class A shares at Net Asset Value (NAV) without sales charge.

2 The performance of the Class A shares at Public Offering Price (POP) reflects the maximum current sales charge of 5.5% for all equity funds and all asset allocation funds and 4.5% for fixed income funds with the exception of Thrivent Government Bond Fund with 2.0% sales charge. Thrivent Limited Maturity Bond Fund and Thrivent Money Market Fund carry no sales charge.

(C1) The Adviser has contractually agreed, through at least 02/28/2015, to reimburse certain expenses associated with the Fund.

Investment Objective

  • Seeks long-term capital growth

Investment Strategy

  • Invests primarily in equity securities of companies in a variety of natural resource-related sectors, including energy, chemicals, oil, gas, paper, mining, steel or agriculture. In addition, the Fund intends to invest in real estate investment trusts (REITs).
  • Typically invests in both U.S. and non-U.S. companies, including companies located in emerging markets, and in securities denominated in both U.S. dollars and foreign currencies. The Fund may invest in securities of issuers with any market capitalization.

Benefits of Investing in the Thrivent Natural Resources Fund

  • This fund offers exposure to additional diversifying asset classes, including natural resources and REITs, helping investors' demand for energy, gold, and silver investments in a bundled product.
  • This fund invests in companies headquartered in multiple countries.

Special Investment Risks

The Fund is subject to the following principal investment risks. Shares of the Fund will rise and fall in value and there is a risk that you could lose money by investing in the Fund. The Fund cannot be certain that it will achieve its investment objective. These risks are described in the Fund's prospectus.

  • Market Risk – Securities markets are cyclical and the value of the Fund's investments may increase or decrease due to this cyclical nature of the markets.
  • Issuer Risk – Factors specific to a company in which the Fund is invested will affect the market prices of the company's securities and therefore the value of the Fund. Some of these factors may be demand for the company's products or services, the quality of management of the company and brand recognition and loyalty.
  • Volatility Risk – Certain types of securities shift in and out of favor depending on market and economic conditions and investor sentiment. Bonds may exhibit price fluctuations when there are changes in interest rates or bond yield levels.
  • Natural Resources Industry & Precious Metal-Related Securities Risk – Natural resource investments historically have been very volatile and are subject to risks that particularly affect the precious metals, oil, gas, mining, energy, chemicals, paper, steel or agricultural sectors.
  • Small- and Mid-Cap & Liquidity Risk – Small and medium-sized companies often have greater price volatility and less liquidity than larger companies.
  • Non-Diversified Risk – The Fund is non-diversified, which means that it may invest a greater percentage of its assets in the securities of any single issuer compared with diversified funds.
  • Real Estate Investment Trust Risk – REITs are subject to numerous risks and can be affected by interest rates, the values of the properties they own, and the credit quality of mortgage loans they hold.
  • Investment Adviser Risk – The value of the Fund is influenced by factors impacting the overall market, certain asset classes, certain investment styles, and specific issuers. The Fund may incur losses due to incorrect assessments of investments by its investment adviser.

The following information consists of independent third-party fund ratings.

Key Statistics
Number of Holdings 03/31/2014 44
Weighted Avg. Market Cap
(billions) 03/31/2014
$29.1
Median Market Cap
(billions) 03/31/2014
$18.4
Turnover Ratio 03/31/2014 24%
Average Life (years) 03/31/2014 N/A
Duration (years) 03/31/2014 N/A
30-Day SEC Yield Before Fee Waivers N/A N/A
30-Day SEC Yield After Fee Waivers N/A N/A

Standard Deviation03/31/2014
3-year 17.64%
5-year 22.54%
10-year N/A
Morningstar Rating™03/31/2014
Morningstar CategoryNatural Resources
Frequency Morningstar Rating™ # Of Funds
Overall N/A N/A
3-year N/A N/A
5-year N/A N/A
10-year N/A N/A
Lipper Leader Scores 03/31/2014
Total Return calculated out of 86 funds
Consistent Return
Preservation
Tax Efficiency
Expenses
Lipper Category Natural Resources Funds
FrequencyLipper Rating# Of Funds
3-year N/A
5-year N/A
10-year N/A

All information in the tables above is subject to change.

Total Assets: Total assets within all share classes of the Fund.

Weighted Average Market Capitalization: A calculation intended to measure the size of the companies in the Fund, weighted by the market capitalization of each stock in the Fund. In such a weighting scheme, larger companies account for a greater portion of the Fund.

Median Market Capitalization: The midpoint of market capitalization (market price multiplied by the number of shares outstanding) of the stocks in the Fund. Half of the stocks in the portfolio will have higher market capitalizations; half will have lower.

Turnover Ratio: Percentage of holdings replaced with other holdings within a rolling 12-month period.

Average Life: Average length of time before the bond issuer pays the bond holder.

Duration: A measure of the portfolio's price sensitivity to interest rate changes. The longer the portfolio's duration, the more sensitive it is to interest rate changes.

30-Day SEC Yields are based on net investment income per share during the previous 30 calendar days, as of date shown, divided by the maximum public offering price and expressed as an annualized percentage. Since share prices and yields are subject to fluctuation, current yields should not be considered an indication of future results.

Standard Deviation: A statistical measure of volatility. The higher the standard deviation, the riskier an investment is considered to be.

Past performance is no indication of future results.

Morningstar Ratings for Funds

Morningstar rates mutual funds from one to five stars based on how well they've performed (after adjusting for risk and accounting for all sales charges) in comparison to similar funds. Within each Morningstar Category, the top 10% of funds receive five stars, the next 22.5% four stars, the middle 35% three stars, the next 22.5% two stars, and the bottom 10% receive one star. Funds are rated for up to three time periods – three-, five-, and 10 years – and these ratings are combined to produce an overall rating. Funds with less than three years of history are not rated. Ratings are objective, based entirely on a mathematical evaluation of past performance. They're a useful tool for identifying funds worthy of further research, but shouldn't be considered buy or sell recommendations. © 2010 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Lipper Ratings

Lipper ratings for Total Return reflect funds' historical total return performance relative to peers as of the most recent month-end. Lipper ratings for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers as of the most recent month-end. Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class, as of the most recent month-end. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Tax Efficiency (US) reflect funds' historical success in postponing taxable distributions relative to peers as of the most recent month-end. Tax Efficiency (US) offers no benefit to investors in tax-sheltered accounts such as retirement plans. Lipper ratings for Expense reflect funds' expense minimization relative to peers with similar load structures as the most recent month-end. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation, Tax Efficiency, and Expense metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2010.

The information below is subject to change.

Fund Holdings

Largest Holdings as of : 02/28/2014
Number of Holdings: 44
 
Rank Ticker Security Name Percentage of Net Assets
1 SLB Schlumberger, Ltd. 7.60%
2 NOV National Oilwell Varco, Inc. 5.00%
3 OAS Oasis Petroleum, Inc. 4.80%
4 CVX Chevron Corporation 4.50%
5 DRQ Dril-Quip, Inc. 4.30%
6 EQT EQT Corporation 4.20%
7 EOG EOG Resources, Inc. 3.90%
8 CAM Cameron International Corporation 3.70%
9 GLD SPDR Gold Trust 3.60%
10 WFT Weatherford International, Ltd. 3.60%

Portfolio Allocations as of : 03/31/2014

Portfolio Composition: Thrivent Financial uses the most recent quarter-end credit ratings assigned by Moody's Investor Services, Inc. and Standard & Poor's Financial Services, LLC to issuers of individual securities in the Fund. When the agencies' ratings differ, Thrivent Financial uses the lower of the two ratings.


 

The table below contains a listing of the most recent dividends and capital gains paid to our shareholders. Dividends and capital gains are not guaranteed and will fluctuate with time.

Dividends
Payment Schedule Annually
Year To Date N/A
Most Recent Dividend $0.020120000
Record Date 12/27/2013
Re-Invest Date 12/30/2013
Payable Date 12/30/2013
Capital Gains
Payment Schedule Annually
Year To Date N/A
Distribution Amount $0.000000000
Record Date N/A
Re-Invest Date N/A
Payable Date N/A
Time Period N/A

The following expenses and fees reflect costs associated with the Fund. Also included are minimum purchase amounts for initial investments, subsequent investments and differences by account type. Refer to the Fund's prospectus for definitions and details.

Costs
Gross Expense Ratio 1.82%
Net Expense RatioC1 1.31%
Expense Ratio As of Date 02/28/2014
Front End Sales Charge 5.50%
Contingent Deferred Sales Charge N/A
Back End Sales Charge N/A
Short Term Redemption fee N/A
Non-Retirement Accounts
Minimum Initial Investment $2,000
Minimum Subsequent Investment $50

IRA Accounts
Minimum Initial Investment $1,000
Minimum Subsequent Investment $50

Automatic Investment Plan
Minimum monthly Investment $50

All returns greater than one year are annualized. Returns for periods of less than one year are not annualized.

(C1) The Adviser has contractually agreed, through at least 02/28/2015, to reimburse certain expenses associated with the Fund.


For additional information, contact the Investment Interaction Center at 800-847-4836.

Investing in a mutual fund involves risks, including the possible loss of principal. The prospectus contains more complete information on the investment objectives, risks, charges and expenses of the fund which investors should read and consider carefully before investing.

 

 

Appleton Office:
4321 N. Ballard Road
Appleton, WI 54919-0001 USA

Minneapolis Office:
625 Fourth Avenue S.
Minneapolis, MN 55415-1624 USA


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Insurance products issued or offered by Thrivent Financial, the marketing name for Thrivent Financial for Lutherans, Appleton, WI. Not all products are available in all states. Products issued by Thrivent Financial are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, a FINRA (Link opens in new window) and SIPC (Link opens in new window) member and a wholly owned subsidiary of Thrivent. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents/producers of Thrivent. Fee-based investment advisory services are available through qualified investment advisor representatives only.

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