IVOV vs. TMVE

Last updated Jun 24, 2026

IVOV (Vanguard S&P Mid-Cap 400 Value ETF) and TMVE (Thrivent Mid Cap Value ETF) are both Mid Cap Value Equities funds - IVOV tracks the S&P MidCap 400 Value Index while TMVE tracks the Actively Managed. Both are passively managed. Their correlation of 0.94 suggests significant overlap in exposure. IVOV charges 0.10%/yr vs 0.55%/yr for TMVE.

Performance

IVOV vs. TMVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Mid-Cap 400 Value ETF (IVOV) 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, IVOV achieves a 10.60% return, which is significantly lower than TMVE's 17.39% return.

IVOV

• 1D: -0.41%
• 1M: 2.93%
• YTD: 10.60%
• 6M: 8.95%
• 1Y: 20.62%
• 3Y*: 14.32%
• 5Y*: 8.43%
• 10Y*: 10.85%

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)

IVOV vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
IVOV Vanguard S&P Mid-Cap 400 Value ETF	10.60%	4.00%
TMVE Thrivent Mid Cap Value ETF	17.39%	6.04%

Correlation

The correlation between IVOV and TMVE is 0.94, 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	0.94

Return for Risk

IVOV vs. TMVE — Risk / Return Rank

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

IVOV

IVOV Risk / Return Rank: 41
IVOV Sharpe Ratio Rank: 40
IVOV Sortino Ratio Rank: 42
IVOV Omega Ratio Rank: 37
IVOV Calmar Ratio Rank: 41
IVOV Martin Ratio Rank: 43

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.

IVOV vs. TMVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Value ETF (IVOV) 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.

	IVOV	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	1.35	—	—
Sortino ratio: Return per unit of downside risk	2.05	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.96	—	—
Martin ratio: Return relative to average drawdown	6.74	—	—

Drawdowns

IVOV vs. TMVE - Drawdown Comparison

The maximum IVOV drawdown since its inception was -45.99%, which is greater than TMVE's maximum drawdown of -8.21%. Use the drawdown chart below to compare losses from any high point for IVOV and TMVE.

Drawdown Indicators

	IVOV	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-45.99%	-8.21%	-37.78%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.99%	—	—
Current Drawdown Current decline from peak	-1.21%	-0.69%	-0.52%
Average Drawdown Average peak-to-trough decline	-5.41%	-1.43%	-3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	—	—

Volatility

Volatility by Period

	IVOV	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	13.81%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	13.81%	+5.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.70%	13.81%	+7.89%

IVOV vs. TMVE - Expense Ratio Comparison

IVOV has a 0.10% expense ratio, which is lower than TMVE's 0.55% expense ratio.

Dividends

IVOV vs. TMVE - Dividend Comparison

IVOV's dividend yield for the trailing twelve months is around 1.65%, more than TMVE's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOV Vanguard S&P Mid-Cap 400 Value ETF	1.65%	1.82%	1.74%	1.52%	1.97%	1.78%	2.42%	1.75%	1.87%	1.55%	1.51%	1.66%
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 IVOV and TMVE in my portfolio?

With a correlation of 0.94, IVOV 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, IVOV or TMVE?

On fees, IVOV is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVOV or TMVE?

IVOV is cheaper with a 0.10% expense ratio, compared with 0.55% for TMVE.

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

IVOV has the higher dividend yield at 1.65%, compared with 0.10% for TMVE.

What is the main difference between IVOV and TMVE?

IVOV tracks S&P MidCap 400 Value Index, while TMVE tracks Actively Managed. They also come from different issuers: Vanguard and Thrivent. Their fees differ too: 0.10% for IVOV and 0.55% for TMVE.