AASCX vs. TWAAX

Last updated Jun 23, 2026

AASCX (Thrivent Mid Cap Stock Fund) and TWAAX (Thrivent International Allocation Fund) are both mutual funds - AASCX is a Mid Cap Blend Equities fund managed by Thrivent, while TWAAX is a Foreign Large Cap Equities fund managed by Thrivent. Over the past 10 years, AASCX returned 10.86%/yr vs 8.26%/yr for TWAAX. A 0.77 correlation means they provide meaningful diversification when combined. AASCX charges 0.98%/yr vs 1.20%/yr for TWAAX.

Performance

AASCX vs. TWAAX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with AASCX having a 16.10% return and TWAAX slightly lower at 16.07%. Over the past 10 years, AASCX has outperformed TWAAX with an annualized return of 10.86%, while TWAAX has yielded a comparatively lower 8.26% annualized return.

AASCX

• 1D: 0.60%
• 1M: 3.52%
• YTD: 16.10%
• 6M: 13.85%
• 1Y: 23.39%
• 3Y*: 13.97%
• 5Y*: 7.86%
• 10Y*: 10.86%

TWAAX

• 1D: 1.46%
• 1M: 4.07%
• YTD: 16.07%
• 6M: 16.49%
• 1Y: 31.97%
• 3Y*: 18.10%
• 5Y*: 9.28%
• 10Y*: 8.26%

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

AASCX vs. TWAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AASCX Thrivent Mid Cap Stock Fund	16.10%	4.43%	14.60%	13.65%	-17.85%	27.70%	21.68%	24.51%	-10.73%	8.73%
TWAAX Thrivent International Allocation Fund	16.07%	30.28%	3.86%	17.51%	-18.59%	13.88%	3.38%	19.95%	-15.80%	21.50%

Correlation

The correlation between AASCX and TWAAX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Mar 3, 2008	0.77

The correlation between AASCX and TWAAX has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.

Return for Risk

AASCX vs. TWAAX — Risk / Return Rank

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

AASCX

AASCX Risk / Return Rank: 41
AASCX Sharpe Ratio Rank: 36
AASCX Sortino Ratio Rank: 36
AASCX Omega Ratio Rank: 34
AASCX Calmar Ratio Rank: 52
AASCX Martin Ratio Rank: 49

TWAAX

TWAAX Risk / Return Rank: 51
TWAAX Sharpe Ratio Rank: 52
TWAAX Sortino Ratio Rank: 48
TWAAX Omega Ratio Rank: 52
TWAAX Calmar Ratio Rank: 51
TWAAX Martin Ratio Rank: 52

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.

AASCX vs. TWAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Stock Fund (AASCX) 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.

	AASCX	TWAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.97	-0.36
Sortino ratio: Return per unit of downside risk	2.32	2.69	-0.37
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	2.64	2.61	+0.04
Martin ratio: Return relative to average drawdown	9.48	9.99	-0.51

AASCX vs. TWAAX - Sharpe Ratio Comparison

The current AASCX Sharpe Ratio is 1.61, which is comparable to the TWAAX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of AASCX 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

AASCX vs. TWAAX - Drawdown Comparison

The maximum AASCX drawdown since its inception was -56.55%, roughly equal to the maximum TWAAX drawdown of -54.24%. Use the drawdown chart below to compare losses from any high point for AASCX and TWAAX.

Drawdown Indicators

	AASCX	TWAAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.55%	-54.24%	-2.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-11.98%	+2.97%
Max Drawdown (3Y) Largest decline over 3 years	-20.23%	-12.95%	-7.28%
Max Drawdown (5Y) Largest decline over 5 years	-32.80%	-33.71%	+0.91%
Max Drawdown (10Y) Largest decline over 10 years	-40.67%	-38.87%	-1.80%
Current Drawdown Current decline from peak	-1.26%	0.00%	-1.26%
Average Drawdown Average peak-to-trough decline	-10.67%	-12.66%	+1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	3.12%	-0.62%

Volatility

AASCX vs. TWAAX - Volatility Comparison

The current volatility for Thrivent Mid Cap Stock Fund (AASCX) is 4.80%, while Thrivent International Allocation Fund (TWAAX) has a volatility of 6.58%. This indicates that AASCX 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

	AASCX	TWAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	6.58%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	11.48%	13.75%	-2.27%
Volatility (1Y) Calculated over the trailing 1-year period	14.77%	15.86%	-1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	16.52%	+4.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.89%	16.11%	+4.78%

AASCX vs. TWAAX - Expense Ratio Comparison

AASCX has a 0.98% expense ratio, which is lower than TWAAX's 1.20% expense ratio.

Dividends

AASCX vs. TWAAX - Dividend Comparison

AASCX's dividend yield for the trailing twelve months is around 12.90%, more than TWAAX's 5.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AASCX Thrivent Mid Cap Stock Fund	12.90%	14.98%	9.22%	1.54%	3.15%	12.54%	3.54%	2.92%	12.94%	0.09%	0.10%
TWAAX Thrivent International Allocation Fund	5.67%	6.59%	2.66%	2.72%	1.72%	9.19%	1.25%	2.15%	5.56%	2.08%	2.00%

Frequently Asked Questions

Can I hold both AASCX and TWAAX in my portfolio?

AASCX and TWAAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AASCX or TWAAX?

TWAAX has higher volatility (6.58%) compared to AASCX (4.80%). In terms of maximum drawdown, AASCX dropped -56.55% vs TWAAX's -54.24%.

Which has better risk-adjusted returns?

TWAAX currently has the higher Sharpe Ratio (1.97 vs 1.61), 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.