Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities. Thrivent Asset Management, LLC (Thrivent Asset Mgt. or the Adviser) focuses mainly on the common stocks of domestic companies of any market capitalization, including small- and mid-cap sized companies. Should the Adviser change the investments used for purposes of this 80% threshold, you will be notified at least 60 days prior to the change. In seeking to achieve the Funds investment objective, the Adviser employs investment management techniques to identify securities that exhibit low volatility returns. Volatility refers to the variation in security and market prices over time. Over a full market cycle, the Fund … Show more… Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities. Thrivent Asset Management, LLC (Thrivent Asset Mgt. or the Adviser) focuses mainly on the common stocks of domestic companies of any market capitalization, including small- and mid-cap sized companies. Should the Adviser change the investments used for purposes of this 80% threshold, you will be notified at least 60 days prior to the change. In seeking to achieve the Funds investment objective, the Adviser employs investment management techniques to identify securities that exhibit low volatility returns. Volatility refers to the variation in security and market prices over time. Over a full market cycle, the Fund seeks to have a risk profile similar to the MSCI USA Minimum Volatility Index USD Net Returns (the Funds benchmark index). It is expected that the Fund will generally underperform the domestic equity markets during periods of strong market performance. In buying and selling securities for the Fund, the Adviser uses an active strategy. This strategy consists of a disciplined approach that involves computer-aided, quantitative analysis of fundamental, technical and risk-related factors. The Advisers factor model (a method of analyzing and combining multiple data sources) systematically reviews thousands of stocks, using data such as historical earnings growth and expected future growth, valuation, price momentum, and other quantitative factors to forecast return potential. Then, risk characteristics of potential investments and covariation among securities are analyzed along with the return forecasts in determining the Funds holdings to produce a portfolio with reduced volatility. Show less