AABFX vs. TWAAX

Last updated Jul 16, 2026

AABFX (Thrivent Balanced Income Plus Fund) and TWAAX (Thrivent International Allocation Fund) are both mutual funds - AABFX is a Diversified Portfolio fund managed by Thrivent, while TWAAX is a Foreign Large Cap Equities fund managed by Thrivent. Over the past 10 years, AABFX returned 6.54%/yr vs 7.86%/yr for TWAAX. Their correlation of 0.85 suggests significant overlap in exposure. AABFX charges 1.00%/yr vs 1.20%/yr for TWAAX.

Performance

AABFX vs. TWAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Balanced Income Plus Fund (AABFX) and Thrivent International Allocation Fund (TWAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AABFX achieves a 5.21% return, which is significantly lower than TWAAX's 12.65% return. Over the past 10 years, AABFX has underperformed TWAAX with an annualized return of 6.54%, while TWAAX has yielded a comparatively higher 7.86% annualized return.

AABFX

• 1D: 0.27%
• 1M: -0.59%
• 6M: 3.98%
• YTD: 5.21%
• 1Y: 12.50%
• 3Y*: 10.65%
• 5Y*: 5.28%
• 10Y*: 6.54%

TWAAX

• 1D: 1.14%
• 1M: -2.41%
• 6M: 8.92%
• YTD: 12.65%
• 1Y: 25.22%
• 3Y*: 16.54%
• 5Y*: 8.41%
• 10Y*: 7.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AABFX vs. TWAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AABFX Thrivent Balanced Income Plus Fund	5.21%	12.23%	10.08%	12.04%	-13.93%	11.83%	8.69%	16.65%	-5.09%	10.06%
TWAAX Thrivent International Allocation Fund	12.65%	30.28%	3.86%	17.51%	-18.59%	13.88%	3.38%	19.95%	-15.80%	21.50%

Correlation

The correlation between AABFX and TWAAX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Mar 3, 2008	0.85

The correlation between AABFX and TWAAX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

AABFX vs. TWAAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AABFX

AABFX Risk / Return Rank: 66
AABFX Sharpe Ratio Rank: 66
AABFX Sortino Ratio Rank: 67
AABFX Omega Ratio Rank: 67
AABFX Calmar Ratio Rank: 59
AABFX Martin Ratio Rank: 69

TWAAX

TWAAX Risk / Return Rank: 43
TWAAX Sharpe Ratio Rank: 43
TWAAX Sortino Ratio Rank: 39
TWAAX Omega Ratio Rank: 44
TWAAX Calmar Ratio Rank: 43
TWAAX Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AABFX vs. TWAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Balanced Income Plus Fund (AABFX) and Thrivent International Allocation Fund (TWAAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AABFX	TWAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.46	+0.30
Sortino ratio: Return per unit of downside risk	2.53	2.02	+0.51
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	2.34	2.02	+0.32
Martin ratio: Return relative to average drawdown	10.09	7.53	+2.56

AABFX vs. TWAAX - Sharpe Ratio Comparison

The current AABFX Sharpe Ratio is 1.76, which is comparable to the TWAAX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of AABFX and TWAAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AABFX vs. TWAAX - Drawdown Comparison

The maximum AABFX drawdown since its inception was -43.44%, smaller than the maximum TWAAX drawdown of -54.24%. Use the drawdown chart below to compare losses from any high point for AABFX and TWAAX.

Drawdown Indicators

	AABFX	TWAAX	Difference
Max Drawdown Largest peak-to-trough decline	-43.44%	-54.24%	+10.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.13%	-11.98%	+6.85%
Max Drawdown (3Y) Largest decline over 3 years	-7.04%	-12.95%	+5.91%
Max Drawdown (5Y) Largest decline over 5 years	-21.56%	-33.71%	+12.15%
Max Drawdown (10Y) Largest decline over 10 years	-27.40%	-38.87%	+11.47%
Current Drawdown Current decline from peak	-0.59%	-3.48%	+2.89%
Average Drawdown Average peak-to-trough decline	-5.62%	-12.62%	+7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	3.21%	-2.02%

Volatility

AABFX vs. TWAAX - Volatility Comparison

The current volatility for Thrivent Balanced Income Plus Fund (AABFX) is 1.97%, while Thrivent International Allocation Fund (TWAAX) has a volatility of 6.03%. This indicates that AABFX experiences smaller price fluctuations and is considered to be less risky than TWAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AABFX	TWAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	6.03%	-4.06%
Volatility (6M) Calculated over the trailing 6-month period	5.75%	14.63%	-8.88%
Volatility (1Y) Calculated over the trailing 1-year period	6.80%	16.57%	-9.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	16.65%	-8.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.29%	15.96%	-6.67%

AABFX vs. TWAAX - Expense Ratio Comparison

AABFX has a 1.00% expense ratio, which is lower than TWAAX's 1.20% expense ratio.

Dividends

AABFX vs. TWAAX - Dividend Comparison

AABFX's dividend yield for the trailing twelve months is around 7.09%, more than TWAAX's 5.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AABFX Thrivent Balanced Income Plus Fund	7.09%	7.25%	6.43%	2.97%	2.26%	6.99%	2.03%	2.37%	9.70%	2.04%	2.37%	1.90%
TWAAX Thrivent International Allocation Fund	5.85%	6.59%	2.66%	2.72%	1.72%	9.19%	1.25%	2.15%	5.56%	2.08%	2.00%	0.00%

Frequently Asked Questions

Can I hold both AABFX and TWAAX in my portfolio?

AABFX and TWAAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AABFX or TWAAX?

TWAAX has higher volatility (6.03%) compared to AABFX (1.97%). In terms of maximum drawdown, AABFX dropped -43.44% vs TWAAX's -54.24%.

Which has better risk-adjusted returns?

AABFX currently has the higher Sharpe Ratio (1.76 vs 1.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.