THMAX vs. LUBIX

Last updated Jun 4, 2026

THMAX (Thrivent Moderate Allocation Fund) and LUBIX (Thrivent Income Fund) are both mutual funds - THMAX is a Diversified Portfolio fund managed by Thrivent, while LUBIX is a Corporate Bonds fund managed by Thrivent. Over the past 10 years, THMAX returned 8.46%/yr vs 2.71%/yr for LUBIX. At a 0.06 correlation, their price movements are largely independent. THMAX charges 0.79%/yr vs 0.74%/yr for LUBIX.

Performance

THMAX vs. LUBIX - Performance Comparison

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

Returns By Period

In the year-to-date period, THMAX achieves a 6.95% return, which is significantly higher than LUBIX's 0.52% return. Over the past 10 years, THMAX has outperformed LUBIX with an annualized return of 8.46%, while LUBIX has yielded a comparatively lower 2.71% annualized return.

THMAX

• 1D: 0.23%
• 1M: 3.47%
• YTD: 6.95%
• 6M: 7.13%
• 1Y: 18.88%
• 3Y*: 16.00%
• 5Y*: 7.98%
• 10Y*: 8.46%

LUBIX

• 1D: 0.06%
• 1M: 0.78%
• YTD: 0.52%
• 6M: 0.39%
• 1Y: 5.85%
• 3Y*: 5.29%
• 5Y*: 0.55%
• 10Y*: 2.71%

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

THMAX vs. LUBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THMAX Thrivent Moderate Allocation Fund	6.95%	13.27%	18.33%	15.69%	-16.43%	11.95%	13.29%	18.35%	-4.94%	9.24%
LUBIX Thrivent Income Fund	0.52%	7.57%	2.93%	8.11%	-16.07%	-0.76%	11.61%	13.20%	-2.60%	5.69%

Correlation

The correlation between THMAX and LUBIX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jan 4, 2006	0.06

Over the past year, THMAX and LUBIX have become more correlated (0.42) than their long-term average of 0.06, meaning their price movements have been converging.

Return for Risk

THMAX vs. LUBIX — Risk / Return Rank

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

THMAX

THMAX Risk / Return Rank: 67
THMAX Sharpe Ratio Rank: 66
THMAX Sortino Ratio Rank: 64
THMAX Omega Ratio Rank: 63
THMAX Calmar Ratio Rank: 68
THMAX Martin Ratio Rank: 75

LUBIX

LUBIX Risk / Return Rank: 25
LUBIX Sharpe Ratio Rank: 25
LUBIX Sortino Ratio Rank: 25
LUBIX Omega Ratio Rank: 24
LUBIX Calmar Ratio Rank: 25
LUBIX Martin Ratio Rank: 25

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.

THMAX vs. LUBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Moderate Allocation Fund (THMAX) and Thrivent Income Fund (LUBIX). 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.

	THMAX	LUBIX	Difference
Sharpe ratio Return per unit of total volatility	2.37	1.42	+0.94
Sortino ratio Return per unit of downside risk	3.35	2.09	+1.25
Omega ratio Gain probability vs. loss probability	1.44	1.25	+0.19
Calmar ratio Return relative to maximum drawdown	3.18	1.86	+1.32
Martin ratio Return relative to average drawdown	14.25	6.20	+8.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THMAX vs. LUBIX - Sharpe Ratio Comparison

The current THMAX Sharpe Ratio is 2.37, which is higher than the LUBIX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of THMAX and LUBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	THMAX	LUBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	1.42	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.09	+0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.48	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.66	-0.12

Drawdowns

THMAX vs. LUBIX - Drawdown Comparison

The maximum THMAX drawdown since its inception was -41.95%, which is greater than LUBIX's maximum drawdown of -23.52%. Use the drawdown chart below to compare losses from any high point for THMAX and LUBIX.

Drawdown Indicators

	THMAX	LUBIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.95%	-23.52%	-18.43%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-3.22%	-2.88%
Max Drawdown (3Y) Largest decline over 3 years	-11.85%	-6.35%	-5.50%
Max Drawdown (5Y) Largest decline over 5 years	-24.22%	-22.12%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	-24.22%	-22.12%	-2.10%
Current Drawdown Current decline from peak	0.00%	-0.93%	+0.93%
Average Drawdown Average peak-to-trough decline	-5.53%	-3.79%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	0.97%	+0.39%

Volatility

THMAX vs. LUBIX - Volatility Comparison

Thrivent Moderate Allocation Fund (THMAX) has a higher volatility of 2.31% compared to Thrivent Income Fund (LUBIX) at 1.45%. This indicates that THMAX's price experiences larger fluctuations and is considered to be riskier than LUBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THMAX	LUBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	1.45%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	6.36%	3.08%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	8.20%	4.22%	+3.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.65%	6.40%	+5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.74%	5.63%	+5.11%

THMAX vs. LUBIX - Expense Ratio Comparison

THMAX has a 0.79% expense ratio, which is higher than LUBIX's 0.74% expense ratio.

Dividends

THMAX vs. LUBIX - Dividend Comparison

THMAX's dividend yield for the trailing twelve months is around 6.63%, more than LUBIX's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LUBIX Thrivent Income Fund	4.30%	4.20%	4.13%	3.06%	3.30%	4.18%	5.21%	3.42%	3.44%	2.99%	3.16%	3.40%
THMAX Thrivent Moderate Allocation Fund	6.63%	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 THMAX and LUBIX in my portfolio?

THMAX and LUBIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THMAX or LUBIX?

THMAX has higher volatility (2.31%) compared to LUBIX (1.45%). In terms of maximum drawdown, THMAX dropped -41.95% vs LUBIX's -23.52%.

Which has better risk-adjusted returns?

THMAX currently has the higher Sharpe Ratio (2.37 vs 1.42), 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.