Thrivent High Income Municipal Bond Fund Q4 2025 Commentary

Thrivent Asset Management11 FollowersFollow5ShareSavePlay(7min)CommentsSummaryDuring Q4 of 2025, Thrivent High Income Municipal Bond Fund outperformed the Bloomberg 65% High Grade/35% High Yield Index, returning 1.74% versus 1.42%.The Fund maintains an overweight to longer-dated municipal bonds which outperformed in the quarter, although these bonds underperformed for the trailing 12-month period.BBB and high yield bonds, which the Fund is overweight versus the Index, outperformed investment grade bonds for the quarter but also underperformed for the trailing 12 months. syahrir maulana/iStock via Getty Images Executive Summary Thrivent High Income Municipal Bond Fund outperformed the Bloomberg 65% High Grade/35% High Yield Index during the fourth quarter of 2025 by 32 basis points; the Fund underperformed the Index by 81 basis points for This article was written byThrivent Asset Management11 FollowersFollowThrivent has offered investment products since 1970. The investment adviser for our funds is Thrivent Asset Management, LLC (TAM), a subsidiary of Thrivent. A membership-owned fraternal organization, Thrivent has provided holistic financial services and dedication to serving our clients for more than 100 years. Thrivent Distributors, LLC, a registered broker-dealer and member FINRA, is the distributor for Thrivent Mutual Funds and Thrivent Variable Portfolios. ALPS Distributors, Inc., member FINRA, is the distributor for Thrivent ETFs. Thrivent Distributors, LLC is the marketing agent for Thrivent ETFs. Asset management services for the Thrivent Mutual Funds and Thrivent ETFs are provided by Thrivent Asset Management, LLC, an SEC-registered investment adviser.

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Thrivent Variable Portfolios are advised by Thrivent, an SEC-registered investment adviser. Thrivent Distributors, LLC and Thrivent Asset Management, LLC are both subsidiaries of Thrivent, the marketing name for Thrivent Financial for Lutherans. ALPS Distributors, Inc. is not affiliated with Thrivent or any of its subsidiaries. Note: This account is not managed or monitored by Thrivent, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use the Thrivent's official channels.