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AASMX vs. THMBX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AASMX vs. THMBX

Last updated Jun 24, 2026

AASMX (Thrivent Small Cap Stock Fund) and THMBX (Thrivent High Income Municipal Bond Fund) are both mutual funds - AASMX is a Small Cap Blend Equities fund managed by Thrivent, while THMBX is a High Yield Muni fund managed by Thrivent. Over the past 5 years, AASMX returned 6.89%/yr vs 0.57%/yr for THMBX. At a 0.05 correlation, their price movements are largely independent. AASMX charges 1.07%/yr vs 0.60%/yr for THMBX.

Performance

AASMX vs. THMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Small Cap Stock Fund (AASMX) and Thrivent High Income Municipal Bond Fund (THMBX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AASMX achieves a 17.26% return, which is significantly higher than THMBX's 2.76% return.

AASMX

1D
0.15%
1M
6.55%
YTD
17.26%
6M
14.76%
1Y
27.96%
3Y*
14.64%
5Y*
6.89%
10Y*
11.83%

THMBX

1D
0.10%
1M
2.05%
YTD
2.76%
6M
3.28%
1Y
8.56%
3Y*
5.16%
5Y*
0.57%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

AASMX vs. THMBX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
AASMX
Thrivent Small Cap Stock Fund		17.26%2.13%13.02%12.20%-11.24%23.82%22.48%27.55%-8.61%
THMBX
Thrivent High Income Municipal Bond Fund		2.76%2.83%5.85%7.01%-15.19%6.59%3.18%10.15%2.50%

Correlation

The correlation between AASMX and THMBX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (3Y)
Calculated over the trailing 3-year period

0.13

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Mar 26, 2018

0.05

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Thrivent Small Cap Stock Fund

Thrivent High Income Municipal Bond Fund

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Often compared with THMBX:
THMBX vs. AAUTXTHMBX vs. AASCXTHMBX vs. THMAXTHMBX vs. AAHYXTHMBX vs. AABFXTHMBX vs. AAAGXTHMBX vs. AALGX

Return for Risk

AASMX vs. THMBX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AASMX
AASMX Risk / Return Rank: 4343
Overall Rank
AASMX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
AASMX Sortino Ratio Rank: 4343
Sortino Ratio Rank
AASMX Omega Ratio Rank: 3636
Omega Ratio Rank
AASMX Calmar Ratio Rank: 5151
Calmar Ratio Rank
AASMX Martin Ratio Rank: 4343
Martin Ratio Rank
THMBX
THMBX Risk / Return Rank: 8080
Overall Rank
THMBX Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
THMBX Sortino Ratio Rank: 9191
Sortino Ratio Rank
THMBX Omega Ratio Rank: 9191
Omega Ratio Rank
THMBX Calmar Ratio Rank: 7373
Calmar Ratio Rank
THMBX Martin Ratio Rank: 6060
Martin Ratio Rank
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.

AASMX vs. THMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Small Cap Stock Fund (AASMX) and Thrivent High Income Municipal Bond Fund (THMBX). 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.

AASMXTHMBXDifference
Sharpe ratioReturn per unit of total volatility
1.72
2.52

-0.80

Sortino ratioReturn per unit of downside risk
2.53
4.19

-1.66

Omega ratioGain probability vs. loss probability

1.29

1.63

-0.33

Calmar ratioReturn relative to maximum drawdown

2.59

3.17

-0.58

Martin ratioReturn relative to average drawdown

8.70

11.19

-2.50

AASMX vs. THMBX - Sharpe Ratio Comparison

The current AASMX Sharpe Ratio is 1.72, which is lower than the THMBX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of AASMX and THMBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AASMX vs. THMBX - Drawdown Comparison

The maximum AASMX drawdown since its inception was -57.13%, which is greater than THMBX's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for AASMX and THMBX.

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Drawdown Indicators

AASMXTHMBXDifference

Max Drawdown

Largest peak-to-trough decline

-57.13%

-21.08%

-36.05%

Max Drawdown (1Y)

Largest decline over 1 year

-11.55%

-2.71%

-8.84%

Max Drawdown (3Y)

Largest decline over 3 years

-26.56%

-7.31%

-19.25%

Max Drawdown (5Y)

Largest decline over 5 years

-29.43%

-21.08%

-8.35%

Max Drawdown (10Y)

Largest decline over 10 years

-41.66%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-10.79%

-5.36%

-5.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.44%

0.77%

+2.67%

Volatility

AASMX vs. THMBX - Volatility Comparison

Thrivent Small Cap Stock Fund (AASMX) has a higher volatility of 4.94% compared to Thrivent High Income Municipal Bond Fund (THMBX) at 0.84%. This indicates that AASMX's price experiences larger fluctuations and is considered to be riskier than THMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AASMXTHMBXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.94%

0.84%

+4.10%

Volatility (6M)

Calculated over the trailing 6-month period

12.63%

2.44%

+10.19%

Volatility (1Y)

Calculated over the trailing 1-year period

17.43%

3.41%

+14.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.36%

5.20%

+17.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.67%

5.75%

+16.92%

AASMX vs. THMBX - Expense Ratio Comparison

AASMX has a 1.07% expense ratio, which is higher than THMBX's 0.60% expense ratio.

Dividends

AASMX vs. THMBX - Dividend Comparison

AASMX's dividend yield for the trailing twelve months is around 2.68%, less than THMBX's 4.29% yield.

PositionTTM2025202420232022202120202019201820172016
AASMX
Thrivent Small Cap Stock Fund		2.68%3.14%4.21%0.42%12.87%14.74%1.83%10.84%18.67%0.00%0.17%
THMBX
Thrivent High Income Municipal Bond Fund		4.29%4.31%4.10%2.81%3.11%2.77%2.92%2.93%2.78%0.00%0.00%

Frequently Asked Questions

AASMX and THMBX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AASMX has higher volatility (4.94%) compared to THMBX (0.84%). In terms of maximum drawdown, AASMX dropped -57.13% vs THMBX's -21.08%.

THMBX currently has the higher Sharpe Ratio (2.52 vs 1.72), 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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Find the right allocation for AASMX and THMBX

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