AAUTX vs. THMAX

Last updated Jun 23, 2026

AAUTX (Thrivent Large Cap Value Fund) and THMAX (Thrivent Moderate Allocation Fund) are both mutual funds - AAUTX is a Large Cap Value Equities fund managed by Thrivent, while THMAX is a Diversified Portfolio fund managed by Thrivent. Over the past 10 years, AAUTX returned 12.85%/yr vs 8.48%/yr for THMAX. Their correlation of 0.91 suggests significant overlap in exposure. AAUTX charges 0.86%/yr vs 0.79%/yr for THMAX.

Performance

AAUTX vs. THMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Large Cap Value Fund (AAUTX) and Thrivent Moderate Allocation Fund (THMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAUTX achieves a 12.58% return, which is significantly higher than THMAX's 6.59% return. Over the past 10 years, AAUTX has outperformed THMAX with an annualized return of 12.85%, while THMAX has yielded a comparatively lower 8.48% annualized return.

AAUTX

• 1D: 0.19%
• 1M: 0.77%
• YTD: 12.58%
• 6M: 12.29%
• 1Y: 28.83%
• 3Y*: 20.74%
• 5Y*: 14.35%
• 10Y*: 12.85%

THMAX

• 1D: 0.75%
• 1M: 1.10%
• YTD: 6.59%
• 6M: 6.32%
• 1Y: 18.17%
• 3Y*: 15.13%
• 5Y*: 7.96%
• 10Y*: 8.48%

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

AAUTX vs. THMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAUTX Thrivent Large Cap Value Fund	12.58%	19.31%	21.28%	12.63%	-4.89%	31.65%	4.31%	23.66%	-8.82%	12.59%
THMAX Thrivent Moderate Allocation Fund	6.59%	13.27%	18.33%	15.69%	-16.43%	11.95%	13.29%	18.35%	-4.94%	9.24%

Correlation

The correlation between AAUTX and THMAX 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	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.91

The correlation between AAUTX and THMAX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

AAUTX vs. THMAX — Risk / Return Rank

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

AAUTX

AAUTX Risk / Return Rank: 86
AAUTX Sharpe Ratio Rank: 87
AAUTX Sortino Ratio Rank: 83
AAUTX Omega Ratio Rank: 79
AAUTX Calmar Ratio Rank: 91
AAUTX Martin Ratio Rank: 91

THMAX

THMAX Risk / Return Rank: 63
THMAX Sharpe Ratio Rank: 60
THMAX Sortino Ratio Rank: 58
THMAX Omega Ratio Rank: 59
THMAX Calmar Ratio Rank: 65
THMAX Martin Ratio Rank: 73

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.

AAUTX vs. THMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Large Cap Value Fund (AAUTX) and Thrivent Moderate Allocation Fund (THMAX). 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.

	AAUTX	THMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.09	+0.52
Sortino ratio: Return per unit of downside risk	3.59	2.92	+0.67
Omega ratio: Gain probability vs. loss probability	1.47	1.39	+0.08
Calmar ratio: Return relative to maximum drawdown	4.47	2.96	+1.51
Martin ratio: Return relative to average drawdown	17.08	12.97	+4.11

AAUTX vs. THMAX - Sharpe Ratio Comparison

The current AAUTX Sharpe Ratio is 2.61, which is comparable to the THMAX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of AAUTX and THMAX, 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

AAUTX vs. THMAX - Drawdown Comparison

The maximum AAUTX drawdown since its inception was -54.34%, which is greater than THMAX's maximum drawdown of -41.95%. Use the drawdown chart below to compare losses from any high point for AAUTX and THMAX.

Drawdown Indicators

	AAUTX	THMAX	Difference
Max Drawdown Largest peak-to-trough decline	-54.34%	-41.95%	-12.39%
Max Drawdown (1Y) Largest decline over 1 year	-6.48%	-6.10%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-14.85%	-11.85%	-3.00%
Max Drawdown (5Y) Largest decline over 5 years	-18.71%	-24.22%	+5.51%
Max Drawdown (10Y) Largest decline over 10 years	-38.88%	-24.22%	-14.66%
Current Drawdown Current decline from peak	-1.00%	-0.34%	-0.66%
Average Drawdown Average peak-to-trough decline	-7.98%	-5.51%	-2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.39%	+0.30%

Volatility

AAUTX vs. THMAX - Volatility Comparison

Thrivent Large Cap Value Fund (AAUTX) has a higher volatility of 3.60% compared to Thrivent Moderate Allocation Fund (THMAX) at 3.34%. This indicates that AAUTX's price experiences larger fluctuations and is considered to be riskier than THMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAUTX	THMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.34%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	6.95%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.09%	8.64%	+2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.86%	11.72%	+4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.80%	10.77%	+7.03%

AAUTX vs. THMAX - Expense Ratio Comparison

AAUTX has a 0.86% expense ratio, which is higher than THMAX's 0.79% expense ratio.

Dividends

AAUTX vs. THMAX - Dividend Comparison

AAUTX's dividend yield for the trailing twelve months is around 4.69%, less than THMAX's 6.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAUTX Thrivent Large Cap Value Fund	4.69%	5.28%	16.25%	3.22%	6.12%	7.62%	6.33%	1.52%	7.44%	1.08%	1.18%	0.00%
THMAX Thrivent Moderate Allocation Fund	6.65%	7.15%	12.28%	2.96%	1.39%	6.31%	4.00%	5.24%	4.38%	1.40%	1.29%	1.20%

Frequently Asked Questions

Can I hold both AAUTX and THMAX in my portfolio?

AAUTX and THMAX 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.

Which is riskier, AAUTX or THMAX?

AAUTX has higher volatility (3.60%) compared to THMAX (3.34%). In terms of maximum drawdown, AAUTX dropped -54.34% vs THMAX's -41.95%.

Which has better risk-adjusted returns?

AAUTX currently has the higher Sharpe Ratio (2.61 vs 2.09), 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.