AAINX vs. TBFAX
AAINX (Thrivent Opportunity Income Plus Fund) and TBFAX (Thrivent Government Bond) are both mutual funds - AAINX is a Multisector Bonds fund managed by Thrivent Funds, while TBFAX is a Government Bonds fund managed by Thrivent Funds. Over the past 10 years, AAINX returned 3.03%/yr vs 0.91%/yr for TBFAX. A 0.60 correlation means they provide meaningful diversification when combined. AAINX charges 0.88%/yr vs 0.77%/yr for TBFAX.
Performance
AAINX vs. TBFAX - Performance Comparison
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Returns By Period
In the year-to-date period, AAINX achieves a 1.70% return, which is significantly higher than TBFAX's -0.32% return. Over the past 10 years, AAINX has outperformed TBFAX with an annualized return of 3.03%, while TBFAX has yielded a comparatively lower 0.91% annualized return.
AAINX
- 1D
- 0.11%
- 1M
- 0.92%
- YTD
- 1.70%
- 6M
- 2.14%
- 1Y
- 6.71%
- 3Y*
- 6.30%
- 5Y*
- 2.26%
- 10Y*
- 3.03%
TBFAX
- 1D
- 0.23%
- 1M
- 0.73%
- YTD
- -0.32%
- 6M
- -0.12%
- 1Y
- 3.86%
- 3Y*
- 3.18%
- 5Y*
- -0.09%
- 10Y*
- 0.91%
AAINX vs. TBFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AAINX Thrivent Opportunity Income Plus Fund | 1.70% | 7.82% | 4.90% | 7.77% | -10.57% | 1.47% | 3.75% | 8.23% | -1.24% | 4.88% |
TBFAX Thrivent Government Bond | -0.32% | 7.00% | 0.96% | 3.52% | -10.67% | -1.92% | 6.93% | 5.70% | -0.02% | 1.79% |
Correlation
The correlation between AAINX and TBFAX is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.60 |
Over the past year, AAINX and TBFAX have become more correlated (0.82) than their long-term average of 0.60, meaning their price movements have been converging.
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Return for Risk
AAINX vs. TBFAX — Risk / Return Rank
AAINX
TBFAX
AAINX vs. TBFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thrivent Opportunity Income Plus Fund (AAINX) and Thrivent Government Bond (TBFAX). 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.
| AAINX | TBFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.19 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 1.25 | +1.54 |
| Martin ratioReturn relative to average drawdown | 12.32 | 3.44 | +8.88 |
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Drawdowns
AAINX vs. TBFAX - Drawdown Comparison
The maximum AAINX drawdown since its inception was -15.72%, smaller than the maximum TBFAX drawdown of -17.68%. Use the drawdown chart below to compare losses from any high point for AAINX and TBFAX.
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Drawdown Indicators
| AAINX | TBFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.72% | -17.68% | +1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -3.21% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -3.86% | -6.55% | +2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -14.18% | -16.03% | +1.85% |
Max Drawdown (10Y)Largest decline over 10 years | -15.28% | -17.68% | +2.40% |
Current DrawdownCurrent decline from peak | -0.11% | -3.61% | +3.50% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -4.17% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 1.16% | -0.60% |
Volatility
AAINX vs. TBFAX - Volatility Comparison
The current volatility for Thrivent Opportunity Income Plus Fund (AAINX) is 0.99%, while Thrivent Government Bond (TBFAX) has a volatility of 1.12%. This indicates that AAINX experiences smaller price fluctuations and is considered to be less risky than TBFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAINX | TBFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.12% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 2.72% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.80% | 3.73% | -0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.02% | 5.65% | -1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.90% | 4.73% | -0.83% |
AAINX vs. TBFAX - Expense Ratio Comparison
AAINX has a 0.88% expense ratio, which is higher than TBFAX's 0.77% expense ratio.
Dividends
AAINX vs. TBFAX - Dividend Comparison
AAINX's dividend yield for the trailing twelve months is around 4.63%, more than TBFAX's 3.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAINX Thrivent Opportunity Income Plus Fund | 4.63% | 4.62% | 4.78% | 3.88% | 4.00% | 2.74% | 2.99% | 3.76% | 4.04% | 3.28% | 3.55% | 3.88% |
TBFAX Thrivent Government Bond | 3.48% | 3.54% | 3.73% | 2.29% | 2.08% | 0.92% | 3.29% | 2.08% | 2.02% | 1.48% | 1.25% | 0.91% |
Frequently Asked Questions
AAINX and TBFAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TBFAX has higher volatility (1.12%) compared to AAINX (0.99%). In terms of maximum drawdown, AAINX dropped -15.72% vs TBFAX's -17.68%.
AAINX currently has the higher Sharpe Ratio (2.45 vs 1.07), 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.
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