FVD vs. TMVE

Last updated Jun 24, 2026

FVD (First Trust Value Line Dividend Index Fund) and TMVE (Thrivent Mid Cap Value ETF) are both Mid Cap Value Equities funds - FVD tracks the Value Line Dividend Index while TMVE tracks the Actively Managed. Both are passively managed. A 0.67 correlation means they provide meaningful diversification when combined. FVD charges 0.61%/yr vs 0.55%/yr for TMVE.

Performance

FVD vs. TMVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Value Line Dividend Index Fund (FVD) and Thrivent Mid Cap Value ETF (TMVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FVD achieves a 4.43% return, which is significantly lower than TMVE's 17.39% return.

FVD

• 1D: 1.10%
• 1M: -0.08%
• YTD: 4.43%
• 6M: 4.03%
• 1Y: 9.78%
• 3Y*: 9.12%
• 5Y*: 6.11%
• 10Y*: 8.66%

TMVE

• 1D: -0.32%
• 1M: 3.25%
• YTD: 17.39%
• 6M: 16.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FVD vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
FVD First Trust Value Line Dividend Index Fund	4.43%	1.06%
TMVE Thrivent Mid Cap Value ETF	17.39%	6.04%

Correlation

The correlation between FVD and TMVE is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.67

Return for Risk

FVD vs. TMVE — Risk / Return Rank

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

FVD

FVD Risk / Return Rank: 28
FVD Sharpe Ratio Rank: 29
FVD Sortino Ratio Rank: 29
FVD Omega Ratio Rank: 26
FVD Calmar Ratio Rank: 28
FVD Martin Ratio Rank: 27

TMVE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FVD vs. TMVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Value Line Dividend Index Fund (FVD) and Thrivent Mid Cap Value ETF (TMVE). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FVD	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	1.01	—	—
Sortino ratio: Return per unit of downside risk	1.53	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.36	—	—
Martin ratio: Return relative to average drawdown	3.48	—	—

Drawdowns

FVD vs. TMVE - Drawdown Comparison

The maximum FVD drawdown since its inception was -51.00%, which is greater than TMVE's maximum drawdown of -8.21%. Use the drawdown chart below to compare losses from any high point for FVD and TMVE.

Drawdown Indicators

	FVD	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-51.00%	-8.21%	-42.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.25%	—	—
Current Drawdown Current decline from peak	-3.91%	-0.69%	-3.22%
Average Drawdown Average peak-to-trough decline	-5.44%	-1.43%	-4.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	—	—

Volatility

Volatility by Period

	FVD	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.77%	13.81%	-4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.77%	13.81%	-1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.44%	13.81%	+1.63%

FVD vs. TMVE - Expense Ratio Comparison

FVD has a 0.61% expense ratio, which is higher than TMVE's 0.55% expense ratio.

Dividends

FVD vs. TMVE - Dividend Comparison

FVD's dividend yield for the trailing twelve months is around 2.26%, more than TMVE's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVD First Trust Value Line Dividend Index Fund	2.26%	2.36%	2.23%	2.34%	2.20%	1.75%	2.31%	2.03%	2.50%	2.10%	2.04%	2.34%
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FVD and TMVE in my portfolio?

FVD and TMVE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FVD or TMVE?

On fees, TMVE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FVD or TMVE?

TMVE is cheaper with a 0.55% expense ratio, compared with 0.61% for FVD.

Which ETF pays a higher dividend yield, FVD or TMVE?

FVD has the higher dividend yield at 2.26%, compared with 0.10% for TMVE.

What is the main difference between FVD and TMVE?

FVD tracks Value Line Dividend Index, while TMVE tracks Actively Managed. They also come from different issuers: First Trust and Thrivent. Their fees differ too: 0.61% for FVD and 0.55% for TMVE.