HWSM vs. TMVE

Last updated Jun 23, 2026

HWSM (Hotchkis & Wiley SMID Cap Diversified Value ETF) and TMVE (Thrivent Mid Cap Value ETF) are both Mid Cap Value Equities funds. HWSM is actively managed, while TMVE is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.55% expense ratio.

Performance

HWSM vs. TMVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) 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, HWSM achieves a 10.72% return, which is significantly lower than TMVE's 17.76% return.

HWSM

• 1D: 0.11%
• 1M: 2.13%
• YTD: 10.72%
• 6M: 8.98%
• 1Y: 24.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMVE

• 1D: 0.28%
• 1M: 3.58%
• YTD: 17.76%
• 6M: 16.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HWSM vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	10.72%	4.98%
TMVE Thrivent Mid Cap Value ETF	17.76%	6.04%

Correlation

The correlation between HWSM and TMVE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.90

Return for Risk

HWSM vs. TMVE — Risk / Return Rank

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

HWSM

HWSM Risk / Return Rank: 48
HWSM Sharpe Ratio Rank: 46
HWSM Sortino Ratio Rank: 49
HWSM Omega Ratio Rank: 44
HWSM Calmar Ratio Rank: 50
HWSM Martin Ratio Rank: 49

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.

HWSM vs. TMVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) 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.

	HWSM	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	1.57	—	—
Sortino ratio: Return per unit of downside risk	2.35	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.39	—	—
Martin ratio: Return relative to average drawdown	8.00	—	—

Drawdowns

HWSM vs. TMVE - Drawdown Comparison

The maximum HWSM drawdown since its inception was -15.67%, which is greater than TMVE's maximum drawdown of -8.21%. Use the drawdown chart below to compare losses from any high point for HWSM and TMVE.

Drawdown Indicators

	HWSM	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-8.21%	-7.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	—	—
Current Drawdown Current decline from peak	-1.94%	-0.37%	-1.57%
Average Drawdown Average peak-to-trough decline	-2.68%	-1.44%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	—	—

Volatility

Volatility by Period

	HWSM	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	13.84%	+1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.36%	13.84%	+6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.36%	13.84%	+6.52%

HWSM vs. TMVE - Expense Ratio Comparison

Both HWSM and TMVE have an expense ratio of 0.55%.

Dividends

HWSM vs. TMVE - Dividend Comparison

HWSM's dividend yield for the trailing twelve months is around 1.20%, more than TMVE's 0.10% yield.

Position	TTM	2025
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	1.20%	1.33%
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%

Frequently Asked Questions

Can I hold both HWSM and TMVE in my portfolio?

With a correlation of 0.90, HWSM and TMVE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, HWSM or TMVE?

Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HWSM or TMVE?

HWSM and TMVE have the same expense ratio: 0.55% per year.

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

HWSM has the higher dividend yield at 1.20%, compared with 0.10% for TMVE.

What is the main difference between HWSM and TMVE?

They also come from different issuers: Hotchkis & Wiley and Thrivent.