Investment objective & strategy
As of Feb. 26, 2026 · prospectusObjective. Thrivent Government Bond Fund (the "Fund") seeks total return, consistent with preservation of capital. The Funds investment objective may be changed without shareholder approval.
Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) in U.S. government bonds. For purposes of this disclosure, U.S. government bonds are debt instruments issued or guaranteed by the U.S. government or its agencies and instrumentalities, including U.S. Treasuries, Treasury Inflation Protected Securities (TIPS), U.S. Government Agency debt, and mortgage-backed securities issued or guaranteed by the Government National Mortgage Association (GNMA or Ginnie Mae), the Federal National Mortgage Association (FNMA or Fannie Mae) or the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac). Should the Adviser change the investments used for purposes of this 80% threshold, you will be notified at least 60 days prior to the … Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) in U.S. government bonds. For purposes of this disclosure, U.S. government bonds are debt instruments issued or guaranteed by the U.S. government or its agencies and instrumentalities, including U.S. Treasuries, Treasury Inflation Protected Securities (TIPS), U.S. Government Agency debt, and mortgage-backed securities issued or guaranteed by the Government National Mortgage Association (GNMA or Ginnie Mae), the Federal National Mortgage Association (FNMA or Fannie Mae) or the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac). 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. The Funds portfolio securities may be of any maturity. The Adviser uses fundamental and other investment research techniques to determine what debt obligations to buy and sell. Fundamental techniques assess a securitys value based on factors such as an issuers financial profile, management, and business prospects, as applicable. The Fund seeks to achieve a return consisting of income earned on the Funds investments plus capital appreciation, if any. The Fund may invest in U.S. dollar denominated sovereign debt of foreign governments. While the Fund may use derivatives for any investment purpose, the Fund expects to utilize U.S. Treasury futures contracts in order to manage the Funds duration, or interest rate risk. The Fund may enter into derivatives contracts traded on exchanges or in the over the counter market.
Top holdings
As of Jan. 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $11.80M | 25.85% |
| US TREASURY N/B | — | $4.35M | 9.52% |
| US TREASURY N/B | — | $3.92M | 8.59% |
| US TREASURY N/B | — | $2.43M | 5.32% |
| US TREASURY N/B | — | $1.68M | 3.68% |
| Freddie Mac Multifamily Structured Pass Through Certificates | — | $905.43K | 1.98% |
| Federal Home Loan Mortgage Corporation - REMIC 5256 | — | $775.15K | 1.70% |
| FNMA, Other | — | $667.90K | 1.46% |
| Federal National Mortgage Association Conventional 30-Yr. Pass Through | — | $628.23K | 1.38% |
| State Street Navigator Securities Lending Portfolio II | GVMXX | $614.33K | 1.35% |
Portfolio moves
Oct 31, 2025 → Jan 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| THRIVENT GOVERNMENT BOND PORTFOLIO | 26% | 0.49% |
| Venerable Bond Index Fund | 14% | 0.36% |
| State Street(R) DoubleLine(R) Short Duration Total Return Tactical ETF · STOT | 11% | 0.45% |
Advisers
| Firm | Role |
|---|---|
| Thrivent Asset Management, LLC | Adviser |
Footnotes
- Expense ratio as of February 26, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 30, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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