TMVE vs. ERX

Last updated Jul 17, 2026

TMVE (Thrivent Mid Cap Value ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - TMVE is a Mid Cap Value Equities fund tracking the Actively Managed, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). Both are passively managed. At a 0.01 correlation, their price movements are largely independent. TMVE charges 0.55%/yr vs 1.09%/yr for ERX.

Performance

TMVE vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Mid Cap Value ETF (TMVE) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMVE achieves a 18.60% return, which is significantly lower than ERX's 57.54% return.

TMVE

• 1D: 0.70%
• 1M: 0.40%
• 6M: 13.08%
• YTD: 18.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ERX

• 1D: 1.76%
• 1M: 6.94%
• 6M: 39.75%
• YTD: 57.54%
• 1Y: 68.66%
• 3Y*: 19.68%
• 5Y*: 34.10%
• 10Y*: -10.35%

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

TMVE vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	18.60%	6.04%
ERX Direxion Daily Energy Bull 2X Shares	57.54%	-4.99%

Correlation

The correlation between TMVE and ERX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.01

Return for Risk

TMVE vs. ERX — 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.

ERX

ERX Risk / Return Rank: 54
ERX Sharpe Ratio Rank: 62
ERX Sortino Ratio Rank: 53
ERX Omega Ratio Rank: 50
ERX Calmar Ratio Rank: 57
ERX Martin Ratio Rank: 45

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. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and Direxion Daily Energy Bull 2X Shares (ERX). 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	ERX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.64	—
Sortino ratio: Return per unit of downside risk	—	2.12	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.30	—
Martin ratio: Return relative to average drawdown	—	5.95	—

Drawdowns

TMVE vs. ERX - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for TMVE and ERX.

Drawdown Indicators

	TMVE	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-99.54%	+91.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-29.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-0.67%	-92.05%	+91.38%
Average Drawdown Average peak-to-trough decline	-1.38%	-67.18%	+65.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.57%	—

Volatility

Volatility by Period

	TMVE	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.41%	42.09%	-28.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.41%	51.72%	-38.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.41%	68.92%	-55.51%

TMVE vs. ERX - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is lower than ERX's 1.09% expense ratio.

Dividends

TMVE vs. ERX - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than ERX's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERX Direxion Daily Energy Bull 2X Shares	1.62%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%
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%

Frequently Asked Questions

Can I hold both TMVE and ERX in my portfolio?

TMVE and ERX have a correlation of 0.01, 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 ERX?

On fees, TMVE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or ERX?

TMVE is cheaper with a 0.55% expense ratio, compared with 1.09% for ERX.

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

ERX has the higher dividend yield at 1.62%, compared with 0.10% for TMVE.

What is the main difference between TMVE and ERX?

TMVE is categorized as Mid Cap Value Equities, while ERX is Leveraged Equities. TMVE tracks Actively Managed, while ERX tracks Energy Select Sector Index (300%). They also come from different issuers: Thrivent and Direxion. Their fees differ too: 0.55% for TMVE and 1.09% for ERX.