TWAAX Fees and Costs — Thrivent International Equity Fund, Class A
Data updated: 2026-09-29
The net expense ratio is 1.15%: a 0.67% management fee, a 0.25% 12b-1 fee plus 0.36% other expenses, less a 0.13% fee waiver. This share class carries a maximum front-end sales load of 4.50%. In fiscal 2025 the fund paid $1.1M in broker commissions, 0.1367% of average net assets, and portfolio turnover was 78%.
TWAAX Fees and Expenses
Annual operating expenses and sales charges of TWAAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.36% |
| Gross expense ratio | 1.28% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 4.50% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
TWAAX Costs Over Time
On $10,000 invested in TWAAX, assuming 5% a year before costs, total costs come to $1,339 over 5 years, cutting the return by 2.30% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $450 | $450 | $450 |
| Fund expenses (net expense ratio 1.15%) | $115 | $359 | $620 |
| Trading costs (broker commissions) | $14 | $43 | $74 |
| Lost growth on money paid in costs | $23 | $91 | $195 |
| Total costs | $602 | $942 | $1,339 |
| Value after costs | $9,898 | $10,634 | $11,424 |
| Impact on return, per year | 6.02% | 2.93% | 2.30% |
TWAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1367%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): $1.8B
- Portfolio turnover (prospectus): 78%
- Securities on loan, average value: $108K
- Net income from securities lending: $4K (0.000% of average net assets)
TWAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES LLC | $344K | 30.36% |
| GOLDMAN SACHS & CO. LLC | $249K | 21.93% |
| J.P. MORGAN SECURITIES LLC | $223K | 19.61% |
| MORGAN STANLEY & CO. LLC | $89K | 7.83% |
| BARCLAYS CAPITAL INC. | $83K | 7.35% |
| MACQUARIE CAPITAL (USA) INC. | $72K | 6.32% |
| KEEFE, BRUYETTE & WOODS, INC. | $36K | 3.17% |
| RBC CAPITAL MARKETS, LLC | $26K | 2.28% |
| BOFA SECURITIES, INC. | $8K | 0.69% |
| PIPER SANDLER & CO. | $5K | 0.46% |
TWAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $1.6B | 93.43% |
| WELLS FARGO SECURITIES, LLC | $35.1M | 2.00% |
| BARCLAYS CAPITAL INC. | $33.2M | 1.89% |
| CITIGROUP GLOBAL MARKETS INC. | $10.9M | 0.62% |
| BMO CAPITAL MARKETS CORP. | $10.0M | 0.57% |
| ACADEMY SECURITIES, INC. | $6.5M | 0.37% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $6.0M | 0.34% |
| MIZUHO SECURITIES USA LLC | $5.0M | 0.28% |
| PIPER SANDLER & CO. | $5.0M | 0.28% |
| BOFA SECURITIES, INC. | $3.7M | 0.21% |
Thrivent International Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TWAIX | Class S | 0.79% | none |
| TWAAX | Class A | 1.15% | 4.50% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.