A thermoplastic molding composition that features a combination of extremely good toughness, good processability, adjustable surface gloss, good inherent color and reduced opacity is disclosed. The composition contains A) a graft rubber that is the product of free-radical emulsion polymerization using a peroxodisulfate initiator, B) a graft rubber that is the product of free-radical emulsion polymerization using an azo compound initiator and C) a graft polymer that is the product of solution, bulk or suspension polymerization.