TCPB vs. TSME

Last updated Jun 23, 2026

TCPB (Thrivent Core Plus Bond ETF) and TSME (Thrivent Small-Mid Cap ESG ETF) are both exchange-traded funds - TCPB is a Intermediate Core-Plus Bond fund actively managed by Thrivent, while TSME is a Mid Cap Blend Equities fund actively managed by Thrivent. Both are actively managed. Over the past year, TCPB returned 5.33% vs 42.64% for TSME. At a 0.27 correlation, their price movements are largely independent. TCPB charges 0.39%/yr vs 0.65%/yr for TSME.

Performance

TCPB vs. TSME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Core Plus Bond ETF (TCPB) 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, TCPB achieves a 0.63% return, which is significantly lower than TSME's 22.92% return.

TCPB

• 1D: -0.21%
• 1M: 0.68%
• YTD: 0.63%
• 6M: 0.78%
• 1Y: 5.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSME

• 1D: 0.20%
• 1M: 9.83%
• YTD: 22.92%
• 6M: 20.71%
• 1Y: 42.64%
• 3Y*: 23.19%
• 5Y*: —
• 10Y*: —

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

TCPB vs. TSME - Yearly Performance Comparison

	2026 (YTD)	2025
TCPB Thrivent Core Plus Bond ETF	0.63%	6.42%
TSME Thrivent Small-Mid Cap ESG ETF	22.92%	9.61%

Correlation

The correlation between TCPB and TSME is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.27

The correlation between TCPB and TSME shifts across timeframes, from 0.27 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TCPB vs. TSME — Risk / Return Rank

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

TCPB

TCPB Risk / Return Rank: 39
TCPB Sharpe Ratio Rank: 38
TCPB Sortino Ratio Rank: 39
TCPB Omega Ratio Rank: 37
TCPB Calmar Ratio Rank: 40
TCPB Martin Ratio Rank: 38

TSME

TSME Risk / Return Rank: 59
TSME Sharpe Ratio Rank: 61
TSME Sortino Ratio Rank: 59
TSME Omega Ratio Rank: 56
TSME Calmar Ratio Rank: 61
TSME Martin Ratio Rank: 58

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.

TCPB vs. TSME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Core Plus Bond ETF (TCPB) 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.

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.

	TCPB	TSME	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.96	-0.65
Sortino ratio: Return per unit of downside risk	1.96	2.73	-0.77
Omega ratio: Gain probability vs. loss probability	1.24	1.34	-0.10
Calmar ratio: Return relative to maximum drawdown	1.95	2.91	-0.96
Martin ratio: Return relative to average drawdown	5.65	9.95	-4.30

TCPB vs. TSME - Sharpe Ratio Comparison

The current TCPB Sharpe Ratio is 1.31, which is lower than the TSME Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of TCPB 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.

Drawdowns

TCPB vs. TSME - Drawdown Comparison

The maximum TCPB drawdown since its inception was -2.74%, smaller than the maximum TSME drawdown of -26.59%. Use the drawdown chart below to compare losses from any high point for TCPB and TSME.

Drawdown Indicators

	TCPB	TSME	Difference
Max Drawdown Largest peak-to-trough decline	-2.74%	-26.59%	+23.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-14.72%	+11.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.59%	—
Current Drawdown Current decline from peak	-1.14%	0.00%	-1.14%
Average Drawdown Average peak-to-trough decline	-0.81%	-5.13%	+4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	4.30%	-3.36%

Volatility

TCPB vs. TSME - Volatility Comparison

The current volatility for Thrivent Core Plus Bond ETF (TCPB) is 1.10%, while Thrivent Small-Mid Cap ESG ETF (TSME) has a volatility of 7.33%. This indicates that TCPB experiences smaller price fluctuations and is considered to be less risky than TSME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCPB	TSME	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	7.33%	-6.23%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	17.83%	-15.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.08%	21.86%	-17.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.44%	21.80%	-17.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.44%	21.80%	-17.36%

TCPB vs. TSME - Expense Ratio Comparison

TCPB has a 0.39% expense ratio, which is lower than TSME's 0.65% expense ratio.

Dividends

TCPB vs. TSME - Dividend Comparison

TCPB's dividend yield for the trailing twelve months is around 4.77%, more than TSME's 0.14% yield.

Position	TTM	2025	2024	2023	2022
TCPB Thrivent Core Plus Bond ETF	4.77%	3.85%	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 TCPB and TSME in my portfolio?

TCPB and TSME have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCPB or TSME?

TSME has higher volatility (7.33%) compared to TCPB (1.10%). In terms of maximum drawdown, TCPB dropped -2.74% vs TSME's -26.59%.

Which ETF is better, TCPB or TSME?

On 1-year performance, TSME leads with 42.64% vs 5.33% for TCPB. On fees, TCPB is cheaper at 0.39% per year. On volatility, TCPB has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TCPB or TSME?

Over the 1-year period, TSME has performed better with a 42.64% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCPB or TSME?

TCPB is cheaper with a 0.39% expense ratio, compared with 0.65% for TSME.

Which ETF pays a higher dividend yield, TCPB or TSME?

TCPB has the higher dividend yield at 4.77%, compared with 0.14% for TSME.

What is the main difference between TCPB and TSME?

TCPB is categorized as Intermediate Core-Plus Bond, while TSME is Mid Cap Blend Equities. Their fees differ too: 0.39% for TCPB and 0.65% for TSME.

Which has better risk-adjusted returns?

TSME currently has the higher Sharpe Ratio (1.96 vs 1.31), 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.