THMBX vs. TAAAX

Last updated Jul 14, 2026

THMBX (Thrivent High Income Municipal Bond Fund) and TAAAX (Thrivent Aggressive Allocation Fund) are both mutual funds - THMBX is a High Yield Muni fund managed by Thrivent, while TAAAX is a Diversified Portfolio fund managed by Thrivent. Over the past 5 years, THMBX returned 0.41%/yr vs 10.03%/yr for TAAAX. At a 0.08 correlation, their price movements are largely independent. THMBX charges 0.60%/yr vs 0.93%/yr for TAAAX.

Performance

THMBX vs. TAAAX - Performance Comparison

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

Returns By Period

In the year-to-date period, THMBX achieves a 3.26% return, which is significantly lower than TAAAX's 11.05% return.

THMBX

• 1D: 0.00%
• 1M: 0.80%
• 6M: 2.93%
• YTD: 3.26%
• 1Y: 9.14%
• 3Y*: 5.33%
• 5Y*: 0.41%
• 10Y*: —

TAAAX

• 1D: 0.45%
• 1M: 1.38%
• 6M: 8.60%
• YTD: 11.05%
• 1Y: 20.34%
• 3Y*: 18.92%
• 5Y*: 10.03%
• 10Y*: 11.57%

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

THMBX vs. TAAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
THMBX Thrivent High Income Municipal Bond Fund	3.26%	2.83%	5.85%	7.01%	-15.19%	6.59%	3.18%	10.15%	2.50%
TAAAX Thrivent Aggressive Allocation Fund	11.05%	15.18%	23.46%	18.79%	-18.19%	19.56%	16.42%	24.52%	-5.51%

Correlation

The correlation between THMBX and TAAAX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018	0.08

The correlation between THMBX and TAAAX shifts across timeframes, from 0.08 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

THMBX vs. TAAAX — Risk / Return Rank

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

THMBX

THMBX Risk / Return Rank: 92
THMBX Sharpe Ratio Rank: 94
THMBX Sortino Ratio Rank: 95
THMBX Omega Ratio Rank: 95
THMBX Calmar Ratio Rank: 86
THMBX Martin Ratio Rank: 89

TAAAX

TAAAX Risk / Return Rank: 54
TAAAX Sharpe Ratio Rank: 51
TAAAX Sortino Ratio Rank: 48
TAAAX Omega Ratio Rank: 49
TAAAX Calmar Ratio Rank: 55
TAAAX Martin Ratio Rank: 66

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.

THMBX vs. TAAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent High Income Municipal Bond Fund (THMBX) and Thrivent Aggressive Allocation Fund (TAAAX). 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.

	THMBX	TAAAX	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.60	+1.04
Sortino ratio: Return per unit of downside risk	4.35	2.23	+2.11
Omega ratio: Gain probability vs. loss probability	1.66	1.29	+0.37
Calmar ratio: Return relative to maximum drawdown	3.30	2.29	+1.00
Martin ratio: Return relative to average drawdown	13.18	9.92	+3.26

THMBX vs. TAAAX - Sharpe Ratio Comparison

The current THMBX Sharpe Ratio is 2.64, which is higher than the TAAAX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of THMBX and TAAAX, 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

THMBX vs. TAAAX - Drawdown Comparison

The maximum THMBX drawdown since its inception was -21.08%, smaller than the maximum TAAAX drawdown of -56.23%. Use the drawdown chart below to compare losses from any high point for THMBX and TAAAX.

Drawdown Indicators

	THMBX	TAAAX	Difference
Max Drawdown Largest peak-to-trough decline	-21.08%	-56.23%	+35.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-8.63%	+5.92%
Max Drawdown (3Y) Largest decline over 3 years	-7.31%	-17.38%	+10.07%
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	-29.84%	+8.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.33%	—
Current Drawdown Current decline from peak	-0.42%	0.00%	-0.42%
Average Drawdown Average peak-to-trough decline	-5.33%	-9.72%	+4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	1.99%	-1.29%

Volatility

THMBX vs. TAAAX - Volatility Comparison

The current volatility for Thrivent High Income Municipal Bond Fund (THMBX) is 0.64%, while Thrivent Aggressive Allocation Fund (TAAAX) has a volatility of 4.23%. This indicates that THMBX experiences smaller price fluctuations and is considered to be less risky than TAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THMBX	TAAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	4.23%	-3.59%
Volatility (6M) Calculated over the trailing 6-month period	2.47%	10.01%	-7.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.39%	12.40%	-9.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.20%	16.88%	-11.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.73%	16.67%	-10.94%

THMBX vs. TAAAX - Expense Ratio Comparison

THMBX has a 0.60% expense ratio, which is lower than TAAAX's 0.93% expense ratio.

Dividends

THMBX vs. TAAAX - Dividend Comparison

THMBX's dividend yield for the trailing twelve months is around 4.29%, less than TAAAX's 6.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TAAAX Thrivent Aggressive Allocation Fund	6.88%	7.64%	15.10%	3.64%	2.40%	10.30%	3.01%	6.32%	9.31%	0.39%	0.52%	0.28%
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%	0.00%

Frequently Asked Questions

Can I hold both THMBX and TAAAX in my portfolio?

THMBX and TAAAX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THMBX or TAAAX?

TAAAX has higher volatility (4.23%) compared to THMBX (0.64%). In terms of maximum drawdown, THMBX dropped -21.08% vs TAAAX's -56.23%.

Which has better risk-adjusted returns?

THMBX currently has the higher Sharpe Ratio (2.64 vs 1.60), 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.