Learn About Thrivent Mid Cap Stock Fund (TMSIX)
We’ve been exploring different mutual funds that we believe are a good fit for most investors. No matter your experience level, there’s a mutual fund that is sure to fit your needs. This week we’re getting to know Thrivent Mid Cap Stock Fund, also known as TMSIX.
Who is Thrivent?
Headquartered in both Minneapolis, Minnesota, and Appleton, Wisconsin, Thrivent is a financial services company founded by Lutherans. The company offers several different types of financial services and products to include disability insurance, life insurance, credit union products, money management services, mutual funds, annuities, and more.
Thrivent is unique in the way that it operates—as a fraternal benefit society. This simply means it is a private society that was formed and owned by its members to provide financial services. The organization is a not-for-profit entity. Thrivent currently serves around 2 million members and has local chapters located all over the country.
In January 2002, Aid Association for Lutherans and Lutheran Brotherhood merged to officially form Thrivent Financial. Currently, Thrivent is the largest fraternal benefit organization in the United States.
Thrivent Mid Cap Stock Fund (TMSIX)
TMSIX invests at least 80 percent of its net assets into various equity securities, usually of mid-sized companies. The goal of this investment is long term capital growth. The fund has returned 13.14 percent over the past decade. The fund carries a high risk when compared to similar funds. This is likely due to the fact that the fund’s returns, either up or down, vary by over 23 percent.
Purchasing and Fees
The fees for TMSIX are relatively low when compared to other funds in its peer group. The fund has an expense ratio of 0.74 percent.
The initial investment amounts for this fund varies. For non-retirement accounts, the initial investment amount is $2,000. For retirement or tax deferred accounts, the initial investment amount drops to $1,000. Any additional purchases are $50. Note that the initial minimums are waived when a recurring investment of $50 or more is set up.
Holdings
This fund holds 59 stocks, mostly in the category of Industrials and Financial Services. Some of the top holdings include: Devon Energy Corporation, Steel Dynamics, Inc., and Alliant Energy Corporation.
The Verdict
Overall, TMSIX is a solid fund and has great potential as an investment choice. The fund has been around long enough to have a favorable performance record. Keep in mind that this fund does have the potential to be riskier than others in its category. If you have patience to hold this fund for the long-term, a tolerance for high risk, and like to roll the dice, this could be the mutual fund for you.
To learn more about investing, closing the racial wealth gap, and growing generational wealth for Black and brown families, please visit Financial Joy School and become a part of our financial family.
