TMCGX vs. CIVIX

Last updated Jun 23, 2026

TMCGX (Thrivent Mid Cap Growth Fund) and CIVIX (Causeway International Value Instl) are both mutual funds - TMCGX is a Mid Cap Growth Equities fund managed by Thrivent, while CIVIX is a Foreign Large Cap Equities fund tracking the MSCI AC World ex USA Value (Net). Over the past 5 years, TMCGX returned 2.36%/yr vs 12.72%/yr for CIVIX. A 0.61 correlation means they provide meaningful diversification when combined. TMCGX charges 0.90%/yr vs 0.85%/yr for CIVIX.

Performance

TMCGX vs. CIVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Mid Cap Growth Fund (TMCGX) and Causeway International Value Instl (CIVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMCGX achieves a 10.86% return, which is significantly higher than CIVIX's 7.28% return.

TMCGX

• 1D: 1.80%
• 1M: 4.83%
• YTD: 10.86%
• 6M: 7.97%
• 1Y: 16.03%
• 3Y*: 9.65%
• 5Y*: 2.36%
• 10Y*: —

CIVIX

• 1D: 1.00%
• 1M: 2.81%
• YTD: 7.28%
• 6M: 8.29%
• 1Y: 27.66%
• 3Y*: 17.85%
• 5Y*: 12.72%
• 10Y*: 10.39%

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

TMCGX vs. CIVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TMCGX Thrivent Mid Cap Growth Fund	10.86%	2.48%	10.20%	16.94%	-28.27%	11.39%	53.73%
CIVIX Causeway International Value Instl	7.28%	39.13%	3.73%	27.29%	-6.77%	9.12%	21.06%

Correlation

The correlation between TMCGX and CIVIX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020	0.61

The correlation between TMCGX and CIVIX has been stable across timeframes, ranging from 0.58 to 0.62 - a consistent structural relationship.

Return for Risk

TMCGX vs. CIVIX — Risk / Return Rank

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

TMCGX

TMCGX Risk / Return Rank: 12
TMCGX Sharpe Ratio Rank: 12
TMCGX Sortino Ratio Rank: 12
TMCGX Omega Ratio Rank: 12
TMCGX Calmar Ratio Rank: 12
TMCGX Martin Ratio Rank: 14

CIVIX

CIVIX Risk / Return Rank: 30
CIVIX Sharpe Ratio Rank: 33
CIVIX Sortino Ratio Rank: 33
CIVIX Omega Ratio Rank: 34
CIVIX Calmar Ratio Rank: 23
CIVIX Martin Ratio Rank: 24

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.

TMCGX vs. CIVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Growth Fund (TMCGX) and Causeway International Value Instl (CIVIX). 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.

	TMCGX	CIVIX	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.54	-0.65
Sortino ratio: Return per unit of downside risk	1.35	2.24	-0.89
Omega ratio: Gain probability vs. loss probability	1.16	1.29	-0.12
Calmar ratio: Return relative to maximum drawdown	1.09	1.67	-0.58
Martin ratio: Return relative to average drawdown	3.57	5.44	-1.87

TMCGX vs. CIVIX - Sharpe Ratio Comparison

The current TMCGX Sharpe Ratio is 0.89, which is lower than the CIVIX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of TMCGX and CIVIX, 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

TMCGX vs. CIVIX - Drawdown Comparison

The maximum TMCGX drawdown since its inception was -39.66%, smaller than the maximum CIVIX drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for TMCGX and CIVIX.

Drawdown Indicators

	TMCGX	CIVIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.66%	-60.93%	+21.27%
Max Drawdown (1Y) Largest decline over 1 year	-14.58%	-16.19%	+1.61%
Max Drawdown (3Y) Largest decline over 3 years	-25.28%	-17.30%	-7.98%
Max Drawdown (5Y) Largest decline over 5 years	-39.66%	-28.51%	-11.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.87%	—
Current Drawdown Current decline from peak	-2.65%	-2.36%	-0.29%
Average Drawdown Average peak-to-trough decline	-15.85%	-10.98%	-4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.44%	4.96%	-0.52%

Volatility

TMCGX vs. CIVIX - Volatility Comparison

Thrivent Mid Cap Growth Fund (TMCGX) has a higher volatility of 6.26% compared to Causeway International Value Instl (CIVIX) at 5.58%. This indicates that TMCGX's price experiences larger fluctuations and is considered to be riskier than CIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMCGX	CIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	5.58%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	14.58%	14.97%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	17.54%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.36%	18.26%	+4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.19%	19.43%	+4.76%

TMCGX vs. CIVIX - Expense Ratio Comparison

TMCGX has a 0.90% expense ratio, which is higher than CIVIX's 0.85% expense ratio.

Dividends

TMCGX vs. CIVIX - Dividend Comparison

TMCGX has not paid dividends to shareholders, while CIVIX's dividend yield for the trailing twelve months is around 9.06%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIVIX Causeway International Value Instl	9.06%	9.72%	9.25%	3.61%	1.78%	1.82%	1.37%	4.63%	3.55%	1.83%	1.96%	1.95%
TMCGX Thrivent Mid Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	3.13%	2.82%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMCGX and CIVIX in my portfolio?

TMCGX and CIVIX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMCGX or CIVIX?

TMCGX has higher volatility (6.26%) compared to CIVIX (5.58%). In terms of maximum drawdown, TMCGX dropped -39.66% vs CIVIX's -60.93%.

Which has better risk-adjusted returns?

CIVIX currently has the higher Sharpe Ratio (1.54 vs 0.89), 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.