TMSIX vs. VOE

Last updated Jun 23, 2026

TMSIX (Thrivent Mid Cap Stock Fund Class S) and VOE (Vanguard Mid-Cap Value ETF) are both funds - TMSIX is a Mid Cap Blend Equities fund managed by Thrivent, while VOE is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index. Over the past 10 years, TMSIX returned 12.49%/yr vs 10.94%/yr for VOE. Their correlation of 0.93 suggests significant overlap in exposure. TMSIX charges 0.74%/yr vs 0.05%/yr for VOE.

Performance

TMSIX vs. VOE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Mid Cap Stock Fund Class S (TMSIX) and Vanguard Mid-Cap Value ETF (VOE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMSIX achieves a 16.22% return, which is significantly higher than VOE's 11.61% return. Over the past 10 years, TMSIX has outperformed VOE with an annualized return of 12.49%, while VOE has yielded a comparatively lower 10.94% annualized return.

TMSIX

• 1D: 0.59%
• 1M: 3.53%
• YTD: 16.22%
• 6M: 14.00%
• 1Y: 23.66%
• 3Y*: 13.96%
• 5Y*: 7.95%
• 10Y*: 12.49%

VOE

• 1D: 0.52%
• 1M: 1.30%
• YTD: 11.61%
• 6M: 10.63%
• 1Y: 24.11%
• 3Y*: 16.19%
• 5Y*: 9.39%
• 10Y*: 10.94%

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

TMSIX vs. VOE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TMSIX Thrivent Mid Cap Stock Fund Class S	16.22%	4.64%	14.08%	13.90%	-17.68%	28.06%	21.96%	24.88%	-10.47%	18.90%
VOE Vanguard Mid-Cap Value ETF	11.61%	12.08%	14.00%	9.85%	-7.97%	28.78%	2.65%	27.85%	-12.48%	17.07%

Correlation

The correlation between TMSIX and VOE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Aug 25, 2006	0.93

The correlation between TMSIX and VOE has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

Return for Risk

TMSIX vs. VOE — Risk / Return Rank

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

TMSIX

TMSIX Risk / Return Rank: 42
TMSIX Sharpe Ratio Rank: 36
TMSIX Sortino Ratio Rank: 36
TMSIX Omega Ratio Rank: 34
TMSIX Calmar Ratio Rank: 53
TMSIX Martin Ratio Rank: 49

VOE

VOE Risk / Return Rank: 68
VOE Sharpe Ratio Rank: 66
VOE Sortino Ratio Rank: 68
VOE Omega Ratio Rank: 62
VOE Calmar Ratio Rank: 72
VOE Martin Ratio Rank: 73

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.

TMSIX vs. VOE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Stock Fund Class S (TMSIX) and Vanguard Mid-Cap Value ETF (VOE). 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.

	TMSIX	VOE	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.08	-0.46
Sortino ratio: Return per unit of downside risk	2.34	2.98	-0.64
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	2.67	3.50	-0.83
Martin ratio: Return relative to average drawdown	9.59	13.22	-3.63

TMSIX vs. VOE - Sharpe Ratio Comparison

The current TMSIX Sharpe Ratio is 1.62, which is comparable to the VOE Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of TMSIX and VOE, 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

TMSIX vs. VOE - Drawdown Comparison

The maximum TMSIX drawdown since its inception was -56.10%, smaller than the maximum VOE drawdown of -61.50%. Use the drawdown chart below to compare losses from any high point for TMSIX and VOE.

Drawdown Indicators

	TMSIX	VOE	Difference
Max Drawdown Largest peak-to-trough decline	-56.10%	-61.50%	+5.40%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-6.93%	-2.04%
Max Drawdown (3Y) Largest decline over 3 years	-20.18%	-18.45%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-31.57%	-19.70%	-11.87%
Max Drawdown (10Y) Largest decline over 10 years	-40.66%	-43.18%	+2.52%
Current Drawdown Current decline from peak	-1.26%	-1.18%	-0.08%
Average Drawdown Average peak-to-trough decline	-9.99%	-8.33%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	1.83%	+0.66%

Volatility

TMSIX vs. VOE - Volatility Comparison

Thrivent Mid Cap Stock Fund Class S (TMSIX) has a higher volatility of 4.81% compared to Vanguard Mid-Cap Value ETF (VOE) at 3.36%. This indicates that TMSIX's price experiences larger fluctuations and is considered to be riskier than VOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMSIX	VOE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	3.36%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	11.47%	8.36%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.74%	11.66%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	16.01%	+4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	18.84%	+1.64%

TMSIX vs. VOE - Expense Ratio Comparison

TMSIX has a 0.74% expense ratio, which is higher than VOE's 0.05% expense ratio.

Dividends

TMSIX vs. VOE - Dividend Comparison

TMSIX's dividend yield for the trailing twelve months is around 10.66%, more than VOE's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TMSIX Thrivent Mid Cap Stock Fund Class S	10.66%	12.39%	7.91%	1.48%	2.86%	10.77%	3.26%	2.77%	11.64%	7.92%	4.10%	11.95%
VOE Vanguard Mid-Cap Value ETF	1.86%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both TMSIX and VOE in my portfolio?

TMSIX and VOE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMSIX or VOE?

TMSIX has higher volatility (4.81%) compared to VOE (3.36%). In terms of maximum drawdown, TMSIX dropped -56.10% vs VOE's -61.50%.

Which has better risk-adjusted returns?

VOE currently has the higher Sharpe Ratio (2.08 vs 1.62), 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.