AMRC vs. TSME

Last updated Jun 3, 2026

AMRC (Ameresco, Inc.) is a stock, while TSME (Thrivent Small-Mid Cap ESG ETF) is Mid Cap Blend Equities fund actively managed by Thrivent. Over the past 3 years, AMRC returned -7.77%/yr vs 21.81%/yr for TSME. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

AMRC vs. TSME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ameresco, Inc. (AMRC) and Thrivent Small-Mid Cap ESG ETF (TSME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMRC achieves a 23.15% return, which is significantly higher than TSME's 16.94% return.

AMRC

• 1D: 4.25%
• 1M: 15.02%
• YTD: 23.15%
• 6M: 2.85%
• 1Y: 166.59%
• 3Y*: -7.77%
• 5Y*: -8.16%
• 10Y*: 22.35%

TSME

• 1D: 1.90%
• 1M: 2.79%
• YTD: 16.94%
• 6M: 18.66%
• 1Y: 40.22%
• 3Y*: 21.81%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMRC vs. TSME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AMRC Ameresco, Inc.	23.15%	24.74%	-25.86%	-44.57%	-17.46%
TSME Thrivent Small-Mid Cap ESG ETF	16.94%	13.79%	18.98%	17.82%	2.41%

Correlation

The correlation between AMRC and TSME is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	0.52

The correlation between AMRC and TSME has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.

Return for Risk

AMRC vs. TSME — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMRC

AMRC Risk / Return Rank: 86
AMRC Sharpe Ratio Rank: 88
AMRC Sortino Ratio Rank: 88
AMRC Omega Ratio Rank: 86
AMRC Calmar Ratio Rank: 85
AMRC Martin Ratio Rank: 80

TSME

TSME Risk / Return Rank: 54
TSME Sharpe Ratio Rank: 55
TSME Sortino Ratio Rank: 55
TSME Omega Ratio Rank: 52
TSME Calmar Ratio Rank: 53
TSME Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMRC vs. TSME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ameresco, Inc. (AMRC) and Thrivent Small-Mid Cap ESG ETF (TSME). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMRC	TSME	Difference
Sharpe ratio Return per unit of total volatility	2.05	1.91	+0.13
Sortino ratio Return per unit of downside risk	3.05	2.68	+0.37
Omega ratio Gain probability vs. loss probability	1.38	1.33	+0.05
Calmar ratio Return relative to maximum drawdown	3.64	2.65	+0.98
Martin ratio Return relative to average drawdown	6.85	9.10	-2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMRC vs. TSME - Sharpe Ratio Comparison

The current AMRC Sharpe Ratio is 2.05, which is comparable to the TSME Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of AMRC and TSME, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMRC	TSME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	1.91	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.90	-0.69

Drawdowns

AMRC vs. TSME - Drawdown Comparison

The maximum AMRC drawdown since its inception was -91.12%, which is greater than TSME's maximum drawdown of -26.59%. Use the drawdown chart below to compare losses from any high point for AMRC and TSME.

Drawdown Indicators

	AMRC	TSME	Difference
Max Drawdown Largest peak-to-trough decline	-91.12%	-26.59%	-64.53%
Max Drawdown (1Y) Largest decline over 1 year	-44.48%	-14.72%	-29.76%
Max Drawdown (3Y) Largest decline over 3 years	-86.26%	-26.59%	-59.67%
Max Drawdown (5Y) Largest decline over 5 years	-91.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-91.12%	—	—
Current Drawdown Current decline from peak	-63.01%	0.00%	-63.01%
Average Drawdown Average peak-to-trough decline	-42.66%	-5.20%	-37.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.61%	4.29%	+19.32%

Volatility

AMRC vs. TSME - Volatility Comparison

Ameresco, Inc. (AMRC) has a higher volatility of 23.89% compared to Thrivent Small-Mid Cap ESG ETF (TSME) at 7.63%. This indicates that AMRC's price experiences larger fluctuations and is considered to be riskier than TSME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMRC	TSME	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.89%	7.63%	+16.26%
Volatility (6M) Calculated over the trailing 6-month period	44.16%	17.08%	+27.08%
Volatility (1Y) Calculated over the trailing 1-year period	81.89%	21.15%	+60.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.10%	21.69%	+52.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.19%	21.69%	+41.50%

Dividends

AMRC vs. TSME - Dividend Comparison

AMRC has not paid dividends to shareholders, while TSME's dividend yield for the trailing twelve months is around 0.14%.

Position	TTM	2025	2024	2023	2022
AMRC Ameresco, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%
TSME Thrivent Small-Mid Cap ESG ETF	0.14%	0.17%	0.38%	0.53%	0.16%

Frequently Asked Questions

Can I hold both AMRC and TSME in my portfolio?

AMRC and TSME have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMRC or TSME?

AMRC has higher volatility (23.89%) compared to TSME (7.63%). In terms of maximum drawdown, AMRC dropped -91.12% vs TSME's -26.59%.

Which has better risk-adjusted returns?

AMRC currently has the higher Sharpe Ratio (2.05 vs 1.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.