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Launched · SEC filings

Thrivent Small-Mid Cap Equity ETF

TSMENYSE ArcaThriventC

$45.74+0.01 (+0.02%)

As of Nov 2, 2026, 3:59 PM ET

C43/ 100

Rank 29 of 47 in US Active Small/Mid-Cap

C43/100Rank 29 of 47inUS Active Small/Mid-Cap
Intraday session: up, 79 prints from 45.73 to 45.74. Range 45.70 to 46.52. Use the arrow keys to read each point.46.0046.2046.4010 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$908M
1Y total return
+11.9%
Yield · Last 12 months
0.15%
Holdings
79
Avg volume · 30D
83.4K sh
52W range
low $38.38high $52.37
Launched
Filings
SEC EDGAR

The ETF.net TSME Grade

Based on 5 of 6 pillars

C

Score 43 out of 100

Category
US Active Small/Mid-Cap⁠
Rank
29 of 47
Six-pillar profile for TSME. Scores out of 100: Cost 39, Risk 21, Mission not scored, Tradability 57, Holdings 55, Durability 77. Strongest: Durability (77). Weakest: Risk (21). Based on 5 of 6 pillars.

Score 43 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D39 out of 100
    Rank 29 of 47

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F21 out of 100
    Rank 41 of 44

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B57 out of 100
    Rank 13 of 47

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B55 out of 100
    Rank 25 of 47

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A77 out of 100
    Rank 9 of 47

Our read on TSME

ETF.net Research

In short

CActive stock picking pointed at the part of the US market where it still has room to work: small and mid caps, run by Thrivent's own managers since 2022 and priced at the going rate for active equity rather than a premium.

Stated mandate

The Fund seeks long-term capital growth.

Why people hold it

  • A live stock picker, not an index clone, working in US small and mid caps. The cheap leaders in its active-equity cohort (DFAU, AVLC) mostly fish in large caps.
  • The 0.65% expense ratio sits right at the median for active US equity funds, so the active mandate does not come with a surcharge versus the active field.
  • Portfolio construction and staying power both hold up in a crowded active-equity field, placing the fund in the upper half of its peer group.
  • Trading friction is mild for an active fund, so buying and selling costs less than it does on thinly traded small-cap products.

Worth knowing

  • Small and mid caps swing harder than large caps, and the mandate keeps the fund parked there through the rough stretches.
  • Against index-style large-cap peers such as DFAU at 0.12%, the 0.65% fee is a wide gap that the stock picking has to work against.
  • Launched in 2022, so the track record is short and payouts arrive once or twice a year rather than monthly.

TSME Performance

Launched Oct 5, 2022

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
TSME$11,188
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. TSME $11,188. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TSME. Periods over one year show the average yearly return.
PeriodTSME
Year to date+9.8%
1 month+0.7%
3 months−5.4%
1 year+11.9%
3 yearsper year+21.5%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TSME
YearReturn barTSME
2026 YTD+9.8%
2025+13.8%
2024+19.0%
2023+17.8%
2022+2.4%

Since listing, Oct 5, 2022

TSME in the news

TSME Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.15%Last 12 months
Payout per share
$0.07Last 12 months
Last payment
$0.07 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 27, 2022 $0.04; Dec 26, 2023 $0.16; Dec 24, 2024 $0.14; Dec 23, 2025 $0.07. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 31, 2025$0.07
Dec 24, 2024Dec 27, 2024$0.14
Dec 26, 2023Dec 29, 2023$0.16
Dec 27, 2022Dec 30, 2022$0.04

$10,000 in TSME 3 years ago paid $137 in dividends.

TSME Risk

Risk pillarF21 out of 100Rank 41 of 44 in US Active Small/Mid-Cap
How much the fund’s monthly returns vary, scaled to a year.
20.9%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.83
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−26.6%
48 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.28
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

TSME Cost

Compare TSME and AVMC

Overpaying vs AVMC, cheapest in US Active Small/Mid-Cap

$8,968

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TSME 0.65%

    $12,717

  • AVMC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • TSME 0.65%
  • AVMC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530TSME $12,717AVMC $3,749

Year by year

YearTSMEAVMCOverpaying
10$1,163$328$835
20$4,440$1,281$3,159
30$12,717$3,749$8,968

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