TMVE ETF: What Is It? Returns, Expense Ratio, Holdings, and Alternative ETFs Compared
The Thrivent Mid Cap Value ETF (TMVE) is an actively managed fund in which a portfolio manager selects and concentrates on US mid-cap value stocks. The key selection criteria are how it differs from VTV, IWD and IVE in management style and market capitalization range.
SubscribeWhat Is the Thrivent Mid Cap Value ETF?
It is an actively managed ETF in which a portfolio manager selects undervalued US mid-cap value stocks. It concentrates on mid-sized companies with solid fundamentals and seeks to outperform the market.
It suits value-oriented investors who want active exposure to US mid-cap value stocks and are willing to accept mid-cap volatility and manager risk.
It is an ETF run by Thrivent using an active management approach.
How Does the Thrivent Mid Cap Value ETF Invest?
| Item | Details |
|---|---|
| Investment target | US mid-cap value stocks |
| Management style | Active (stock selection) |
| Strategy focus | Concentrated mid-cap value |
| Distribution frequency | Annual |
| Total expense ratio | 0.55% |
The portfolio manager uses fundamental analysis to select undervalued US mid-cap value stocks and invests in them in a concentrated manner. Rather than tracking an index as is, the fund selects stocks and adjusts weightings in pursuit of market-beating results, so performance depends on the manager's judgment.
- Active selection of mid-cap value stocks
- Concentrated, fundamentals-based investing
Thrivent Mid Cap Value ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $298.4M, and the total expense ratio is 0.55% per year.
Compared with index-tracking value ETFs, the manager's mid-cap value selection strategy is the main point of comparison.
Thrivent Mid Cap Value ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeUS mid-cap value stocks are driven by interest rates, the economic cycle, and style rotation. Value strategies tend to be strong when value stocks are in favor and weak when growth stocks lead. When active selection works, the fund can beat value indexes, and when it misses, it can lag them.
Fund flows into active mid-cap value products vary with management results, risk appetite, and style rotation, and money sometimes shifts into related products when interest in value investing rises. It is also worth watching how flows change with management performance and market conditions.
Thrivent Mid Cap Value ETF Pros and Cons
Active value selection is the strength, while mid-cap volatility, manager risk, and the cost burden of fees are the considerations.
💪 Key Strengths
⚠️ Points to Watch
Thrivent Mid Cap Value ETF Alternative ETFs and Related Products
For low-cost exposure to large-cap value stocks, direct substitutes include VTV, and for other large-cap value exposure, products such as IWD are also worth comparing. For S&P 500 value exposure, products such as IVE can be considered as well. The three products shown in the table, VTV, IWD and IVE, all invest in large-cap value stocks, so they differ in mid-cap focus and market capitalization range, and this ETF's differentiator is its fundamentals-based active mid-cap value selection.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VTV | Vanguard Morningstar Value ETF | $230.04 | +1.0% | $196.2B | 0.03% | 1.81% | +22.0% |
 IWD | iShares Russell 1000 Value Index Fund | $263.81 | +0.5% | $84.7B | 0.18% | 1.34% | +27.3% |
 IVE | iShares S&P 500 Value ETF | $242.73 | +0.9% | $51.4B | 0.18% | 1.49% | +14.9% |
 SPYV | State Street SPDR Portfolio S&P 500 Value ETF | $65.01 | +0.9% | $38.7B | 0.04% | 1.63% | +14.8% |
 VBR | Vanguard Morningstar Small-Cap Value ETF | $248.65 | +0.3% | $37.8B | 0.05% | 1.78% | +19.4% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 MKSI | MKS Inc | 0.05% | $226.00 | +5.9% | $15.3B | 26.8 | 0.44% |
| MTB | M & T Bank Corp | 0.05% | $220.19 | -0.2% | $31.6B | 11.5 | 2.74% |
 HXL | Hexcel Corp | 0.02% | $81.53 | -0.2% | $6.2B | 36.5 | 0.89% |
| USB | U.S. Bancorp | 0.04% | $60.70 | -0.1% | $94.6B | 11.8 | 3.49% |
 CCK | Crown Holdings Inc | 0.02% | $122.02 | -1.0% | $13.2B | 17.0 | 1.15% |
 SFNC | Simmons First National Corp | 0.02% | $23.53 | -0.6% | $3.4B | 13.1 | 3.65% |
| GD | General Dynamics Corp | 0.02% | $367.22 | -0.1% | $99.2B | 21.6 | 1.72% |
Thrivent Mid Cap Value ETF Investor Checkpoints
Here are the points to review before investing in TMVE. Active value selection is appealing, but mid-cap volatility, manager risk, and the fee burden should be checked in advance. It is also a good idea to compare it with index-tracking value products.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 🎯 Active selection | Review the manager's selection strategy | Stock selection |
| 🏢 Mid-cap exposure | Review the US mid-cap value holdings | Mid-cap value |
| ⚡ Volatility | Review mid-cap volatility | Relatively high |
| 💵 Expense ratio | Check the level of active management fees | Relatively high |
The main variables for long-term performance are relative weakness when growth stocks lead and underperformance if the manager's selections miss. As an actively managed fund, it also carries a heavier fee burden than index-tracking products. Because of its mid-cap concentration, losses can be larger in weak markets.
It is a suitable candidate for value-oriented investors who expect outperformance from active exposure to US mid-cap value stocks. If you simply want large-cap value stocks, compare products such as VTV and IWD, and if you want active mid-cap value selection, compare this product alongside them before choosing.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 10, 2026.
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