IWS vs. TMVE

Last updated Jun 24, 2026

IWS (iShares Russell Mid-Cap Value ETF) and TMVE (Thrivent Mid Cap Value ETF) are both Mid Cap Value Equities funds - IWS tracks the Russell Midcap Value Index while TMVE tracks the Actively Managed. Both are passively managed. Their correlation of 0.94 suggests significant overlap in exposure. IWS charges 0.23%/yr vs 0.55%/yr for TMVE.

Performance

IWS vs. TMVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell Mid-Cap Value ETF (IWS) 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, IWS achieves a 15.78% return, which is significantly lower than TMVE's 17.39% return.

IWS

• 1D: -1.08%
• 1M: 2.64%
• YTD: 15.78%
• 6M: 14.47%
• 1Y: 26.77%
• 3Y*: 17.23%
• 5Y*: 8.94%
• 10Y*: 10.56%

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)

IWS vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
IWS iShares Russell Mid-Cap Value ETF	15.78%	2.79%
TMVE Thrivent Mid Cap Value ETF	17.39%	6.04%

Correlation

The correlation between IWS 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

IWS vs. TMVE — Risk / Return Rank

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

IWS

IWS Risk / Return Rank: 67
IWS Sharpe Ratio Rank: 64
IWS Sortino Ratio Rank: 65
IWS Omega Ratio Rank: 59
IWS Calmar Ratio Rank: 74
IWS Martin Ratio Rank: 75

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.

IWS vs. TMVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Value ETF (IWS) 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.

	IWS	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	1.98	—	—
Sortino ratio: Return per unit of downside risk	2.83	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	3.57	—	—
Martin ratio: Return relative to average drawdown	13.39	—	—

Drawdowns

IWS vs. TMVE - Drawdown Comparison

The maximum IWS drawdown since its inception was -62.40%, which is greater than TMVE's maximum drawdown of -8.21%. Use the drawdown chart below to compare losses from any high point for IWS and TMVE.

Drawdown Indicators

	IWS	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-62.40%	-8.21%	-54.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.83%	—	—
Current Drawdown Current decline from peak	-1.24%	-0.69%	-0.55%
Average Drawdown Average peak-to-trough decline	-8.00%	-1.43%	-6.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	—	—

Volatility

Volatility by Period

	IWS	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.12%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	13.81%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.33%	13.81%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.35%	13.81%	+5.54%

IWS vs. TMVE - Expense Ratio Comparison

IWS has a 0.23% expense ratio, which is lower than TMVE's 0.55% expense ratio.

Dividends

IWS vs. TMVE - Dividend Comparison

IWS's dividend yield for the trailing twelve months is around 1.34%, more than TMVE's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWS iShares Russell Mid-Cap Value ETF	1.34%	1.53%	1.50%	1.76%	1.93%	1.39%	1.87%	1.97%	2.53%	1.96%	2.10%	2.14%
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 IWS and TMVE in my portfolio?

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

On fees, IWS is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IWS or TMVE?

IWS is cheaper with a 0.23% expense ratio, compared with 0.55% for TMVE.

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

IWS has the higher dividend yield at 1.34%, compared with 0.10% for TMVE.

What is the main difference between IWS and TMVE?

IWS tracks Russell Midcap Value Index, while TMVE tracks Actively Managed. They also come from different issuers: iShares and Thrivent. Their fees differ too: 0.23% for IWS and 0.55% for TMVE.