Fund Evaluator:
Thompson MidCap (THPMX)
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Best Performing in Mid-Cap Blend Over the Last Year
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Fund Details
Thompson MidCap Overview
Thompson MidCap (THPMX) is an actively managed U.S. Equity Mid-Cap Blend fund. Thompson IM launched the fund in 2008.
The investment seeks a high level of long-term capital appreciation by investing in securities of medium-sized companies. The fund normally invests at least 80% of its net assets plus any borrowing for investment purposes in a diversified portfolio of equity securities of medium-sized companies that at the time of purchase fall within the 12-month average of the capitalization ranges of stocks in the Russell Midcap Index. Its equity investments included within this 80% may include common stocks, American Depositary Receipts (ADRs), and real estate investment trusts (REITs).
About Thompson MidCap (THPMX)
There are 2 members of the management team with an average tenure of 18.35 years: Jason Stephens (2008), James Evans (2008). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell Mid Cap TR USD index with a weighting of 100%. Thompson MidCap has 77 securities in its portfolio. The top 10 holdings constitute 23.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Thompson MidCap is part of the Equity global asset class and is within the U.S. Equity fund group. Thompson MidCap has 6.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.6%. There is 6.4% 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). Thompson MidCap has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $64 million in total assets, which is below the $1 billion average for the Mid-Cap Blend 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.
THPMX 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 Thompson MidCap expense ratio is high compared to funds in the Mid-Cap Blend category. Thompson MidCap has an expense ratio of 1.15%, which is 18% 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. Thompson MidCap has a portfolio turnover rate of 23%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Thompson MidCap returned 0.6%, which earned it a grade of A, as the Mid-Cap Blend category had an average return of -1.8%. 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 funds in that category.
Thompson MidCap has a trailing yield of 0.44%, which is below the 0.48% category average. The fund normally distributes its income annually and its capital gains 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.
Thompson MidCap Grades
Year to date, the fund has returned 15.9%, 2.8 percentage points better than the category, which translates into a grade of B. The fund has returned 31.7% over the past year (grade of A), 14.8% over the past three years (grade of B) and 9.1% per year over the past five years (grade of B) and 10.9% per year over the past 10 years (grade of B).
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THPMX 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 |
|
| THPMX Return (NAV) | 0.6% | 7.8% | 31.7% | 14.8% | 9.1% | 10.9% |
| THPMX Grade | A | A | A | B | B | B |
| +/- Category | 2.4% | 3.9% | 13.9% | 2.1% | 1.5% | 0.6% |
| Mid-Cap Blend Avg | -1.8% | 3.9% | 17.8% | 12.7% | 7.6% | 10.3% |
| THPMX Tax Cost Ratio | na | na | 2.2% | 2.3% | 2.7% | 1.9% |
THPMX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| THPMX Return (NAV) | 15.9% | 20.1% | 7.5% | 16.8% | -14.7% | 29.6% | 12.0% | 33.5% | -21.8% | 17.1% | 19.4% |
| THPMX Grade | B | A | F | B | C | A | C | A | F | C | A |
| +/- Category | 2.8% | 12.2% | -6.0% | 0.5% | 0.3% | 5.3% | -1.3% | 5.0% | -11.5% | 1.0% | 4.8% |
| Mid-Cap Blend Avg | 13.0% | 7.9% | 13.5% | 16.4% | -15.1% | 24.3% | 13.3% | 28.5% | -10.3% | 16.1% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 17.5% |
| Total Risk Index: | 1.42 - High |
| Category Risk Index: | 1.11 - High |
| Category Risk Grade: | F (87% Rank) |
| Beta: | 1.08 |
| R-Squared: | 65% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $64 Mil |
| Fund Total Assets: | $ 65 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 23% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 18.4 years | |||
| Average Tenure: 18.4 years | |||
| Managers (Year): Stephens Jason (2008), Evans James (2008) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 77 |
| % in Top 10 Holdings: | 23.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.4% |
Portfolio Allocation |
|
| Domestic Stock: | 92.6% |
| Foreign Stock: | 6.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.0% |
Purchase Information
| Fund Family: | Thompson IM |
| Phone Number: | 800-999-0887 |
| Website: | www.thompsonim.com |
| Status: | Open |
| Inception Date: | March 31, 2008 |
| Min. Initial Purchase: | $ 250 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.15% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Thompson MidCap |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
