TISC vs VSS: Grades, Fees and Holdings Compared

Thrivent International Small Cap ETF

TISCDNasdaq

Vanguard FTSE All-World ex-US Small-Cap ETF

VSSANYSE Arca

Overlap

14.0%by weight

Expense ratio

VSS −0.49pt a year

TISC0.55%VSS0.06%

Avg volume · 30D

VSS 6.2×the volume

TISC39.1KVSS243K

TISC vs VSS Performance

Jul 31, 2026 – Oct 30, 2026

−1.0%TISC−1.5%VSS

Expense ratio: TISC 0.55%; VSS 0.06%, better
Fund size: TISC $115M; VSS $13.9B
1Y total return: TISC No data; VSS +7.2%
Yield (12M): TISC No data; VSS 3.04%
Holdings: TISC 608; VSS 5088
Avg volume (30D): TISC 39.1K sh; VSS 243K sh, better
NAV per share: TISC $23.05; VSS $147.79
52W range

ETF.net Grade

Pillar letters and Scores for TISC, VSS, with each pillar’s weight
Pillar	TISC	VSS
Cost30% weight	D33	A97Higher
Mission25% weight	Not scored	A100
Risk15% weight	B58Higher	D26
Tradability15% weight	D34	B59Higher
Holdings10% weight	D33	A77Higher
Durability5% weight	D29	A91Higher

Rank among International Small-Cap funds

How we build Categories ›

Same Category. TISC and VSS are both graded against the same 16 International Small-Cap funds, so their Grades compare head to head.

International Small-Cap⁠

Category · 16 funds

See all 16 ›

VSS ranks 3rd and TISC 13th of 16 funds in the International Small-Cap Category.

Rank 1ASCHCSchwab International Small-Cap Equity ETFScore 80
Rank 2ASCZiShares MSCI EAFE Small-Cap ETFScore 79
Rank 3AVSSVanguard FTSE All-World ex-US Small-Cap ETFScore 78
Rank 4ADFISDimensional International Small Cap ETFScore 74
Rank 13DAZTDAztlan Global Stock Selection Dm SMID ETFScore 38
Rank 13DTISCThrivent International Small Cap ETFScore 38
Rank 15FASCIabrdn International Small Cap Active ETFScore 22

Our read on each fund

ETF.net Research

TISCDThrivent International Small Cap ETF

VSSAVanguard FTSE All-World ex-US Small-Cap ETF

In short

TISC Most international small-cap ETFs just track an index. TISC goes the other way: Thrivent's own managers pick developed-market small caps outside the US, spread across roughly 600 names in growth, value and core styles.

VSS One ticker for the small companies the rest of the world runs on: roughly 4,800 stocks across developed and emerging markets outside the US, at 0.06% a year. Vanguard has run it since 2009.

Stated mandate

TISC The Fund seeks long-term capital appreciation.

VSS Seeks to track the FTSE Global Small Cap ex US Index, providing broad exposure to developed and emerging non-U.S. small-cap equity markets worldwide through passive index sampling.

Why people hold it

TISC Active in a corner of the market dominated by index trackers. There is no underlying index to hug; Thrivent's in-house managers choose the non-US developed-market small caps.thriventfunds.com thriventfunds.com 2
Active without being a concentrated bet: roughly 600 holdings, spanning growth, value and core styles.thriventfunds.com
Developed markets only, so it skips the emerging-market slice built into all-world ex-US small-cap funds like VSS.thriventfunds.com
Run by a Fortune 500 firm that has managed an active small-mid cap ETF since 2022, so this is not its first ETF rodeo.thrivent.com thriventfunds.com

VSS 0.06% a year, against a roughly 0.40% median for international small-cap funds. Only Schwab's SCHC matches the price.
Developed and emerging markets in the same basket, roughly 4,800 names deep, so no single country or company carries much of the load.
Tracks its FTSE Global Small Cap ex US benchmark closely and trades tightly for a fund built on thousands of overseas small caps.
Running since 2009, now a multi-billion-dollar fund that pays out quarterly. Long track record, deep plumbing.vanguard.com

Worth knowing

TISC Costs 0.55% a year, above the category median of 0.47% and many times the 0.06% charged by index staples SCHC and VSS. Stockpicking is the thing you are paying for.
Launched in June 2026, so there is no multi-year record to judge the managers' international small-cap calls against.thrivent.com
Younger and smaller than the category's index heavyweights, so it changes hands less often, which can widen the gap between bid and ask.

VSS Small caps abroad move harder than blue chips, and everything is priced back into dollars, so currency swings ride along.vanguard.com
Vanguard samples the index rather than buying every line item, so the portfolio approximates the benchmark instead of replicating it.vanguard.com
Coverage stops at the US border by design. American small caps sit entirely outside the mandate.

Full TISC profile⁠

Full VSS profile⁠

TISC vs VSS Holdings

How TISC and VSS differ

Overlap by weight

14.0%

Shared holdings make up 48.4% of TISC and 14.9% of VSS.

Level by level

Holdings301 in both14.0%
Countryby domicile53.2%
Asset classEquity100%

Sector

No Sector split for TISC.

Country, concentration and asset class

Country by domicile

Country weights in TISC and VSS, widest gap first
Country	More in TISCMore in VSS	TISC	VSS
Japan	TISC +21.5 points	37.6%	16.1%
Canada	VSS +9.6 points	0.0%	9.6%
Taiwan	VSS +8.2 points	0.0%	8.2%
India	VSS +6.8 points	0.0%	6.8%
Australia	TISC +5.8 points	10.7%	4.9%
China	VSS +5.4 points	0.4%	5.8%
South Korea	VSS +5.4 points	0.0%	5.4%
United Kingdom	TISC +5.0 points	13.2%	8.2%
Other countries (31)	TISC +3.3 points	38.1%	34.8%

Outside the US: TISC 96% developed, 4% emerging. VSS 64% developed, 36% emerging.

Concentration

Weight in the 10 largest Holdings

TISC10.3%
VSS9.2%

Securities held

TISC606
VSS5,049

Asset class

TISC: Equity
VSS: Equity

Holdings

Only in TISC305
In both301
Only in VSS4,748

Only in TISC

305 securities, 51.5% of TISC by weight

Msci Eafe DEC26 Ifus 202612185.04%
Aurizon Holdings Ltd Common Stock0.74%
Bluescope Steel Ltd Common Stock0.65%
Ovs Spa Common Stock Npv0.57%
Imi PLC Common Stock GBP.28570.56%
Sojitz Corp Common Stock0.52%
Orica Ltd Common Stock0.48%
Ackermans & Van Haaren Common Stock0.48%
Yamada Holdings Co Ltd Common Stock0.46%
Nippon Electric Glass Co Ltd Common Stock0.45%
Ituran Location and Control Common Stock ILS.3333330.43%
Kenon Holdings Ltd Common Stock0.41%
Dyno Nobel Ltd Common Stock0.41%
Japan Airlines Co Ltd Common Stock0.41%
Louis Hachette Group Common Stock EUR.20.41%
Cosmo Energy Holdings Co Ltd Common Stock0.41%
Ctt Correios De Portugal Common Stock EUR.170.40%
Scor SE Common Stock EUR7.8769720.40%
Asr Nederland NV Common Stock EUR.160.39%
Academedia Ab Common Stock SEK1.00.38%
Conduit Holdings Ltd Common Stock0.37%
Sonae Common Stock EUR1.00.36%
Kier Group PLC Common Stock GBP.010.36%
Biprogy Inc Common Stock0.35%
Ramsay Health Care Ltd Common Stock0.34%
Pirelli & C Spa Common Stock Npv0.33%
Redes Energeticas Nacionais Common Stock EUR1.00.33%
Seiko Epson Corp Common Stock0.33%
Coca Cola Bottlers Japan Hol Common Stock0.32%
Sumitomo Forestry Co Ltd Common Stock0.32%
Bezeq The Israeli Telecom Co Common Stock ILS1.00.32%
Nomura Real Estate Holdings Common Stock0.31%
Niterra Co Ltd Common Stock0.31%
Venture Corp Ltd Common Stock0.31%
Sekisui House Ltd Common Stock0.30%
Industrivarden Ab A Shs Common Stock SEK2.50.30%
Nn Group NV Common Stock EUR.120.30%
Tokyo Tatemono Co Ltd Common Stock0.30%
Toyo Seikan Group Holdings L Common Stock0.30%
Mitsubishi Materials Corp Common Stock0.30%
Uol Group Ltd Common Stock0.30%
Dmg Mori Co Ltd Common Stock0.30%
Comfortdelgro Corp Ltd Common Stock0.30%
Kobe Steel Ltd Common Stock0.29%
Mineral Resources Ltd Common Stock0.29%
Ampol Ltd Common Stock0.29%
Unibail Rodamco Westfield Reit EUR5.00.29%
Daiwa Securities Group Inc Common Stock0.29%
Downer Edi Ltd Common Stock0.28%
Ansell Ltd Common Stock0.27%

Only in VSS

4,748 securities, 84.5% of VSS by weight

SLBBH11425.88%
DPM Metals Inc0.24%
Eldorado Gold Corp0.23%
G Mining Ventures Corp0.19%
AL Sydbank A/S0.18%
LandMark Optoelectronics Corp0.17%
South Bow Corp0.17%
Aedifica SA0.17%
SSR Mining Inc0.17%
Capital Power Corp0.17%
Jyske Bank A/S0.16%
B2Gold Corp0.16%
Ringkjoebing Landbobank A/S0.16%
Lion Finance Group PLC0.16%
Capstone Copper Corp0.16%
OceanaGold Corp0.15%
Aberdeen Group PLC0.15%
OR Royalties Inc0.14%
LondonMetric Property PLC0.14%
NexGen Energy Ltd0.14%
PrairieSky Royalty Ltd0.14%
Jusung Engineering Co Ltd0.13%
BlackBerry Ltd0.13%
Rotork PLC0.13%
Georg Fischer AG0.13%
Tritax Big Box REIT PLC0.13%
Mycronic AB0.13%
Motor Oil Hellas Corinth Refineries SA0.12%
Rs Group PLC0.12%
SpareBank 1 Sor-Norge ASA0.12%
Definity Financial Corp0.12%
K92 Mining Inc0.12%
Chartwell Retirement Residences0.12%
Onex Corp0.12%
CD Projekt Red SA0.12%
Mondi PLC0.11%
Acerinox SA0.11%
Discovery Mining Ltd0.11%
Torex Gold Resources Inc0.11%
Glanbia PLC0.11%
Brookfield Infrastructure Corp0.11%
Technip Energies NV0.11%
Valmet Oyj0.11%
RioCan Real Estate Investment Trust0.11%
ITEQ Corp0.11%
Tamarack Valley Energy Ltd0.11%
Centerra Gold Inc0.11%
Soitec0.11%
Montage Gold Corp0.11%
Zabka Group SA0.11%

Weight gaps

The 100 widest of 301 Holdings in both funds.

Holding weights in TISC and VSS, widest gap first
Holding	More in TISCMore in VSS	TISC	VSS
Koninklijke Bam Groep NV Common Stock EUR.1	TISC +0.55 points	0.64%	0.09%
Construcc Y Aux De Ferrocarr Common Stock EUR.301	TISC +0.51 points	0.55%	0.04%
Nippon Shokubai Co Ltd Common Stock	TISC +0.49 points	0.53%	0.04%
Tsubakimoto Chain Co Common Stock	TISC +0.45 points	0.48%	0.04%
Tp Icap Group PLC Common Stock GBP.25TCAP.L	TISC +0.43 points	0.51%	0.08%
Tokai Tokyo Financial Holdin Common Stock	TISC +0.41 points	0.45%	0.04%
Balfour Beatty PLC Common Stock GBP.5BBY.L	TISC +0.40 points	0.55%	0.15%
Keller Group PLC Common Stock GBP.1KLR.L	TISC +0.36 points	0.43%	0.07%
Dicker Data Ltd Common Stock	TISC +0.35 points	0.38%	0.03%
Yokogawa Bridge Holdings Cor Common Stock	TISC +0.35 points	0.36%	0.01%
Iss A/S Common Stock DKK1.0	TISC +0.35 points	0.49%	0.14%
Azimut Holding Spa Common Stock	TISC +0.34 points	0.46%	0.12%
Man Group Plc/Jersey Common Stock USD.03428571EMG.L	TISC +0.33 points	0.46%	0.13%
Dksh Holding AG Common Stock CHF.1	TISC +0.33 points	0.40%	0.07%
Wereldhave NV Reit EUR1.0	TISC +0.32 points	0.34%	0.02%
Ig Group Holdings PLC Common Stock GBP.00005IGG.L	TISC +0.32 points	0.46%	0.14%
Nsd Co Ltd Common Stock	TISC +0.32 points	0.35%	0.03%
Sinch Ab Common Stock SEK.1	TISC +0.31 points	0.37%	0.06%
Sacyr SA Common Stock EUR1.0	TISC +0.31 points	0.36%	0.05%
Hyakujushi Bank Ltd/The Common Stock	TISC +0.30 points	0.35%	0.05%
Shawbrook Group PLC Common StockSHAW.L	TISC +0.30 points	0.31%	0.01%
Japan Petroleum Exploration Common Stock	TISC +0.29 points	0.33%	0.04%
Nrw Holdings Ltd Common Stock	TISC +0.29 points	0.35%	0.06%
Nanto Bank Ltd/The Common Stock	TISC +0.28 points	0.33%	0.05%
Attendo Ab Common Stock	TISC +0.28 points	0.32%	0.04%
Ventia Services Group Pty Lt Common Stock	TISC +0.28 points	0.36%	0.08%
Ts Tech Co Ltd Common Stock	TISC +0.28 points	0.30%	0.02%
Logista Integral SA Common Stock EUR.2	TISC +0.27 points	0.33%	0.06%
Okumura Corp Common Stock	TISC +0.27 points	0.30%	0.03%
Inabata & Co Ltd Common Stock	TISC +0.27 points	0.30%	0.03%
Dts Corp Common Stock	TISC +0.27 points	0.29%	0.02%
Fcc Co Ltd Common Stock	TISC +0.27 points	0.29%	0.02%
Molten Ventures PLC Common Stock GBP.01GROW.L	TISC +0.26 points	0.29%	0.03%
Vstecs Holdings Ltd Common Stock HKD.1	TISC +0.26 points	0.28%	0.02%
Meitec Group Holdings Inc Common Stock	TISC +0.26 points	0.30%	0.04%
Frontline PLC Common Stock	TISC +0.25 points	0.43%	0.18%
Morgan Sindall Group PLC Common Stock GBP.05MGNS.L	TISC +0.25 points	0.31%	0.06%
Corbion NV Common Stock EUR.25	TISC +0.24 points	0.28%	0.04%
Juroku Financial Group Inc Common Stock	TISC +0.24 points	0.31%	0.07%
Huhtamaki Oyj Common Stock	TISC +0.25 points	0.32%	0.07%
Regis Resources Ltd Common Stock	TISC +0.24 points	0.33%	0.09%
Societe Bic SA Common Stock EUR3.82	TISC +0.24 points	0.27%	0.03%
Amano Corp Common Stock	TISC +0.23 points	0.26%	0.03%
Sbm Offshore NV Common Stock EUR.25	TISC +0.22 points	0.35%	0.13%
Saizeriya Co Ltd Common Stock	TISC +0.22 points	0.25%	0.03%
Noba Bank Group Ab Common Stock	TISC +0.22 points	0.26%	0.04%
Kissei Pharmaceutical Co Ltd Common Stock	TISC +0.22 points	0.24%	0.02%
Hanwa Co Ltd Common Stock	TISC +0.21 points	0.26%	0.05%
Sesa Spa Common Stock	TISC +0.21 points	0.23%	0.02%
Quilter PLC Common Stock GBP.08167QLT.L	TISC +0.21 points	0.29%	0.08%
Alten SA Common Stock EUR1.05	TISC +0.21 points	0.28%	0.07%
Nufarm Ltd Common Stock	TISC +0.21 points	0.23%	0.02%
Doshisha Co Ltd Common Stock	TISC +0.21 points	0.22%	<0.01%
Investec PLC Common Stock GBP.0002INVP.L	TISC +0.21 points	0.33%	0.12%
Greatland Resources Ltd Common Stock	TISC +0.20 points	0.29%	0.09%
Wpp PLC Common Stock GBP.1WPP.L	TISC +0.20 points	0.33%	0.13%
Harbour Energy PLC Common Stock GBP.00002HBR.L	TISC +0.20 points	0.28%	0.08%
Takamatsu Construction Group Common Stock	TISC +0.20 points	0.21%	0.01%
Pennon Group PLC Common Stock GBP.6105PNN.L	TISC +0.20 points	0.27%	0.07%
Perenti Ltd Common Stock	TISC +0.20 points	0.23%	0.03%
Tieto Oyj Common Stock	TISC +0.20 points	0.24%	0.04%
Sparebank 1 Smn Common Stock NOK20.0	TISC +0.19 points	0.26%	0.07%
Paragon Banking Group PLC Common Stock GBP1.0PAG.L	TISC +0.19 points	0.23%	0.04%
Chudenko Corp Common Stock	TISC +0.19 points	0.21%	0.02%
Shibaura Machine Co Ltd Common Stock	TISC +0.18 points	0.20%	0.02%
Voestalpine AG Common Stock	TISC +0.19 points	0.34%	0.15%
Exedy Corp Common Stock	TISC +0.18 points	0.21%	0.03%
Maire Spa Common Stock	TISC +0.18 points	0.23%	0.05%
Umicore Common Stock	TISC +0.18 points	0.32%	0.14%
North Pacific Bank Ltd Common Stock	TISC +0.18 points	0.25%	0.07%
Alkane Resources Ltd Common Stock	TISC +0.18 points	0.21%	0.03%
Nippon Shinyaku Co Ltd Common Stock	TISC +0.18 points	0.21%	0.03%
Shinnihon Corp Common Stock	TISC +0.18 points	0.19%	0.01%
Arjo Ab B Shares Common Stock SEK.33	TISC +0.18 points	0.19%	0.01%
Sanyo Chemical Industries Common Stock	TISC +0.17 points	0.18%	0.01%
Bekaert NV Common Stock	TISC +0.17 points	0.20%	0.03%
Loomis Ab Common Stock SEK5.0	TISC +0.17 points	0.27%	0.10%
Kose Holdings Corp Common Stock	TISC +0.17 points	0.20%	0.03%
Inchcape PLC Common Stock GBP.1INCH.L	TISC +0.17 points	0.25%	0.08%
Solvay SA Common Stock EUR15.0	TISC +0.17 points	0.22%	0.05%
Noritake Co Ltd Common Stock	TISC +0.17 points	0.20%	0.03%
Dios Fastigheter Ab Common Stock SEK2.0	TISC +0.17 points	0.18%	0.01%
Qt Group Oyj Common Stock	TISC +0.16 points	0.18%	0.02%
One Software Technologies Lt Common Stock ILS.01	TISC +0.15 points	0.18%	0.03%
Berkeley Group Holdings/The Common StockBKG.L	TISC +0.16 points	0.25%	0.09%
Mercialys Reit EUR1.0	TISC +0.15 points	0.18%	0.03%
Tokyo Steel Mfg Co Ltd Common Stock	TISC +0.16 points	0.17%	0.01%
Emeis SA Common Stock EUR.01	TISC +0.16 points	0.18%	0.02%
Mixi Inc Common Stock	TISC +0.15 points	0.17%	0.02%
Kumagai Gumi Co Ltd Common Stock	TISC +0.15 points	0.18%	0.03%
Kyokuto Kaihatsu Kogyo Co Common Stock	TISC +0.15 points	0.16%	0.01%
Hosiden Corp Common Stock	TISC +0.15 points	0.17%	0.02%
Schouw & Co Common Stock DKK10.0	TISC +0.15 points	0.18%	0.03%
San In Godo Bank Ltd/The Common Stock	TISC +0.15 points	0.21%	0.06%
Tokyu Construction Co Ltd Common Stock	TISC +0.14 points	0.16%	0.02%
Per Aarsleff Holding A/S Common Stock DKK2.0	TISC +0.14 points	0.19%	0.05%
Tocalo Co Ltd Common Stock	TISC +0.14 points	0.17%	0.03%
Bavarian Nordic A/S Common Stock DKK10.0	TISC +0.15 points	0.21%	0.06%
G City Ltd Common Stock ILS1.0	TISC +0.14 points	0.15%	<0.01%
Eizo Corp Common Stock	TISC +0.14 points	0.16%	0.02%

All 628 TISC holdings⁠All 4,816 VSS holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

TISC vs VSS Cost

Overpaying TISC vs VSS

$9,634

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

TISC 0.55%
$10,904
VSS 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

TISC 0.55%
VSS 0.06%
Overpaying

Year by year

Year	TISC	VSS	Overpaying
10	$988	$110	$878
20	$3,790	$432	$3,358
30	$10,904	$1,270	$9,634

Expense ratio

0.55%TISC
0.06%VSS, cheaper

VSS0.06%TISC0.55%

0.06%0.83%

Middle half of International Small-Cap funds
Median 0.44%

VSS cheapest of 16 funds

TISC 11th cheapest of 16 funds

TISC vs VSS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): TISC No data; VSS 3.04%
Payout (12M): TISC None; VSS $4.51
Last payment: TISC No data; VSS $0.30
Ex-dividend: TISC No data; VSS Sep 18, 2026
Paid on: TISC No data; VSS Sep 22, 2026
Frequency: TISC No data; VSS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

TISCAll TISC payments⁠

No distribution history available.

VSSQuarterly · 31 paymentsAll VSS payments⁠

TISC vs VSS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: TISC No dataVSS 14.1%
Return per unit of riskSharpe ratio, 3 years: TISC No dataVSS 0.88
Worst fallMax drawdown, 5 years: TISC No dataVSS −33.3%
Market sensitivityBeta, 5 years: TISC 0.90VSS 0.98; Market = 1

TISC and VSS in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026VSS

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TISC vs VSS

In short

Stated mandate

Why people hold it

Worth knowing

How TISC and VSS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in TISC

Only in VSS

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%

How TISC and VSS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in TISC

Only in VSS

Weight gaps