ETF Evaluator:
Thrivent Mid Cap Value ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Mid-Cap Value Over the Last Year
| 45.0% | VictoryShares Free Cash Flow ETF (VFLO) |
| 39.1% | Bushido Capital US SMID Cap Equity ETF (RNIN) |
| 38.8% | Bushido Capital US Equity ETF (SMRI) |
| 37.8% | ProShares Equities for Rising Rates ETF (EQRR) |
| 37.4% | Vanguard US Multifactor ETF (VFMF) |
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ETF Details
Thrivent Mid Cap Value ETF Overview
Thrivent Mid Cap Value ETF (TMVE) is an actively managed U.S. Equity Mid-Cap Value exchange-traded fund (ETF). Thrivent launched the ETF in 2020.
The investment seeks long-term capital growth.
Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in equity securities of mid-sized companies. The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or reposition assets to more promising opportunities.
About Thrivent Mid Cap Value ETF (TMVE)
There are 2 members of the management team with an average tenure of 5.42 years: Graham Wong (2020) and Nicholas Griffith (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap TR USD index with a weighting of 100%. Thrivent Mid Cap Value ETF has 84 securities in its portfolio. The top 10 holdings constitute 18.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Thrivent Mid Cap Value ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Thrivent Mid Cap Value ETF has 5.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.6% There is 5.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Thrivent Mid Cap Value ETF has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $293 million in total assets, which is below the $2 billion average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TMVE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Thrivent Mid Cap Value ETF expense ratio is average compared to funds in the Mid-Cap Value category. Thrivent Mid Cap Value ETF has an expense ratio of 0.55%, which is 17% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Thrivent Mid Cap Value ETF has a portfolio turnover rate of 60%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 72% for the Mid-Cap Value category.
Recently, in the month of July 2026, Thrivent Mid Cap Value ETF returned -1.1%, which earned it a grade of F, as the Mid-Cap Value category had an average return of 3.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Thrivent Mid Cap Value ETF has a trailing yield of 1.02%, which is below the 2.05% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Thrivent Mid Cap Value ETF Grades
Year to date, the ETF has returned 17.8%, 2.4 percentage points better than the category, which translates into a grade of B. The fund has returned 28.0% over the past year (grade of B), 13.6% over the past three years (grade of C) and 10.8% per year over the past five years (grade of C).
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TMVE Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TMVE Return (NAV) | -1.1% | 4.5% | 28.0% | 13.6% | 10.8% | na |
| TMVE Return (Price) | -1.0% | 4.6% | 28.1% | 13.6% | 10.8% | na |
| NAV +/- Price Return | -0.088% | -0.068% | -0.121% | -0.036% | -0.021% | na |
| Mid-Cap Value Avg | 3.5% | 6.1% | 23.5% | 13.9% | 10.2% | 10.8% |
| TMVE Grade (NAV) | F | D | B | C | C | na |
| +/- Category (NAV) | -4.6% | -1.6% | 4.5% | -0.3% | 0.6% | na |
| TMVE Tax-Cost Ratio | na | na | 5.4% | 2.4% | 1.8% | na |
TMVE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TMVE Return (NAV) | 17.8% | 11.0% | 9.6% | 13.3% | -5.4% | 32.0% | na | na | na | na | na |
| TMVE Return (Price) | 17.9% | 11.1% | 9.6% | 13.3% | -5.4% | 32.0% | na | na | na | na | na |
| NAV +/- Price Ret | 0.002% | 0.007% | 0.000% | 0.000% | 0.000% | 0.000% | na | na | na | na | na |
| Mid-Cap Value Avg | 15.4% | 10.4% | 12.2% | 12.9% | -5.7% | 31.6% | 0.6% | 25.6% | -10.0% | 15.5% | 20.3% |
| TMVE Grade (NAV) | B | C | D | C | C | B | na | na | na | na | na |
| +/- Category | 2.4% | 0.6% | -2.7% | 0.4% | 0.3% | 0.4% | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.92 |
| R-Squared: | 63% |
| Standard Deviation: | 15.1% |
| Category Risk Index: | 1.05 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.23 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.0% |
| Total Assets: | $ 293 Mil |
| Share Class Assets: | $ 293 Mil |
| Turnover: | 60.0% |
| Expense Ratio: | 0.55% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 6.4 years | |||
| Average Tenure: 5.4 years | |||
| Managers (Year): Wong Graham (2020), Griffith Nicholas (2022) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 84 |
| % in Top 10 Holdings: | 18.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 5.4% |
Portfolio Allocation |
|
| Domestic Stock: | 92.6% |
| Foreign Stock: | 5.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Thrivent |
| Phone Number: | 800-847-4836 |
| Website: | |
| Inception Date: | February 28, 2020 |
Expenses and Fees
| Expense Ratio (%): | 0.55% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.47% |
