TMVE vs. COWS

Last updated Jul 11, 2026

TMVE (Thrivent Mid Cap Value ETF) and COWS (Amplify Cash Flow Dividend Leaders ETF) are both Mid Cap Value Equities funds - TMVE tracks the Actively Managed while COWS tracks the Kelly US Cash Flow Dividend Leaders Index. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. TMVE charges 0.55%/yr vs 0.00%/yr for COWS.

Performance

TMVE vs. COWS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Mid Cap Value ETF (TMVE) and Amplify Cash Flow Dividend Leaders ETF (COWS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMVE achieves a 18.21% return, which is significantly higher than COWS's 11.19% return.

TMVE

• 1D: 0.54%
• 1M: 0.34%
• 6M: 14.92%
• YTD: 18.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

COWS

• 1D: 0.59%
• 1M: 1.36%
• 6M: 7.97%
• YTD: 11.19%
• 1Y: 22.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMVE vs. COWS - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	18.21%	6.04%
COWS Amplify Cash Flow Dividend Leaders ETF	11.19%	4.31%

Correlation

The correlation between TMVE and COWS is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.75

Return for Risk

TMVE vs. COWS — Risk / Return Rank

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

TMVE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

COWS

COWS Risk / Return Rank: 58
COWS Sharpe Ratio Rank: 48
COWS Sortino Ratio Rank: 50
COWS Omega Ratio Rank: 46
COWS Calmar Ratio Rank: 80
COWS Martin Ratio Rank: 69

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.

TMVE vs. COWS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and Amplify Cash Flow Dividend Leaders ETF (COWS). 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.

	TMVE	COWS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.35	—
Sortino ratio: Return per unit of downside risk	—	2.01	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	3.34	—
Martin ratio: Return relative to average drawdown	—	10.10	—

Drawdowns

TMVE vs. COWS - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, smaller than the maximum COWS drawdown of -24.76%. Use the drawdown chart below to compare losses from any high point for TMVE and COWS.

Drawdown Indicators

	TMVE	COWS	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-24.76%	+16.55%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.44%	—
Current Drawdown Current decline from peak	-1.00%	-0.23%	-0.77%
Average Drawdown Average peak-to-trough decline	-1.39%	-3.84%	+2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.14%	—

Volatility

Volatility by Period

	TMVE	COWS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	16.01%	-2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	18.69%	-5.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.54%	18.69%	-5.15%

TMVE vs. COWS - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is higher than COWS's 0.00% expense ratio.

Dividends

TMVE vs. COWS - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than COWS's 1.49% yield.

Position	TTM	2025	2024	2023
COWS Amplify Cash Flow Dividend Leaders ETF	1.49%	2.04%	2.08%	0.67%
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMVE and COWS in my portfolio?

TMVE and COWS have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMVE or COWS?

On fees, COWS is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or COWS?

COWS is cheaper with a 0.00% expense ratio, compared with 0.55% for TMVE.

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

COWS has the higher dividend yield at 1.49%, compared with 0.10% for TMVE.

What is the main difference between TMVE and COWS?

TMVE tracks Actively Managed, while COWS tracks Kelly US Cash Flow Dividend Leaders Index. They also come from different issuers: Thrivent and Amplify. Their fees differ too: 0.55% for TMVE and 0.00% for COWS.