TWAAX
THRIVENT INTERNATIONAL EQUITY FUND
Thrivent Mutual Funds
Expense ratio1
1.15%
Net assets2
$1.04B
Holdings2
1130
Category
International Equity
2025 return3
30.25%

Investment objective & strategy

As of Feb. 26, 2026 · prospectus

Objective. Thrivent International Equity Fund (the "Fund") seeks long-term capital growth.

Strategy. The Fund seeks to achieve its objective by investing at least 80% of its net assets in equity securities of issuers throughout the world. The Fund 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. An asset may be determined to be foreign based on the issuers domicile, principal place of business, stock exchange listing, source of revenue, or other factors. Foreign securities may include those of issuers … The Fund seeks to achieve its objective by investing at least 80% of its net assets in equity securities of issuers throughout the world. The Fund 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. An asset may be determined to be foreign based on the issuers domicile, principal place of business, stock exchange listing, source of revenue, or other factors. Foreign securities may include those of issuers in emerging markets. The Adviser determines which countries are considered emerging markets based on MSCIs Market Classification Framework, which evaluates markets based on economic development, size and liquidity, and market accessibility. Foreign securities may also include depositary receipts. The Fund may also pursue its investment strategy by investing in derivatives such as futures contracts to either hedge its exposure or gain exposure to certain investments. 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 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.

Top holdings

As of Jan. 30, 2026 · N-PORT
SecurityTickerValue% of fund
Thrivent Core Short-Term Reserve Fund $64.27M 6.20%
State Street Navigator Securities Lending Portfolio II GVMXX $33.82M 3.26%
ASML Holding NV $22.75M 2.19%
Novartis AG $18.72M 1.81%
SHELL PLC $16.05M 1.55%
Roche Holding AG, Participation Certificates $15.96M 1.54%
ABB, Ltd. $14.89M 1.44%
ALLIANZ SE (REGD) $14.46M 1.39%
UNICREDIT SPA $13.49M 1.30%
Taiwan Semiconductor Manufacturing Company, Ltd. $12.86M 1.24%
View all holdings →

Allocation by sector

As of January 30, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Oct 31, 2025 → Jan 30, 2026
Opened
259
Exited
151
Increased
191
Decreased
248
Unchanged
436

How 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.

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Advisers

As of October 31, 2025 · N-CEN
FirmRole
Thrivent Asset Management, LLC Adviser

Footnotes

  1. Expense ratio as of February 26, 2026, from the fund's prospectus.
  2. Net assets and holdings count as of January 30, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.

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