TMVE vs. IMCV

Last updated Jun 4, 2026

TMVE (Thrivent Mid Cap Value ETF) and IMCV (iShares Morningstar Mid-Cap ETF) are both Mid Cap Value Equities funds - TMVE tracks the Actively Managed while IMCV tracks the Morningstar US Mid Cap Broad Value Index. Both are passively managed. Their correlation of 0.92 suggests significant overlap in exposure. TMVE charges 0.55%/yr vs 0.06%/yr for IMCV.

Performance

TMVE vs. IMCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Mid Cap Value ETF (TMVE) and iShares Morningstar Mid-Cap ETF (IMCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMVE achieves a 14.73% return, which is significantly higher than IMCV's 9.96% return.

TMVE

• 1D: -0.23%
• 1M: 2.73%
• YTD: 14.73%
• 6M: 15.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IMCV

• 1D: -0.21%
• 1M: 2.12%
• YTD: 9.96%
• 6M: 11.32%
• 1Y: 23.41%
• 3Y*: 16.66%
• 5Y*: 8.69%
• 10Y*: 10.40%

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

TMVE vs. IMCV - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	14.73%	6.04%
IMCV iShares Morningstar Mid-Cap ETF	9.96%	5.23%

Correlation

The correlation between TMVE and IMCV is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.92

Return for Risk

TMVE vs. IMCV — Risk / Return Rank

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

IMCV

IMCV Risk / Return Rank: 63
IMCV Sharpe Ratio Rank: 59
IMCV Sortino Ratio Rank: 62
IMCV Omega Ratio Rank: 58
IMCV Calmar Ratio Rank: 68
IMCV 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. IMCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and iShares Morningstar Mid-Cap ETF (IMCV). 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.

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

Sharpe Ratios by Period

	TMVE	IMCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.02	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.18	0.47	+2.71

Drawdowns

TMVE vs. IMCV - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, smaller than the maximum IMCV drawdown of -64.74%. Use the drawdown chart below to compare losses from any high point for TMVE and IMCV.

Drawdown Indicators

	TMVE	IMCV	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-64.74%	+56.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.90%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.63%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.33%	—
Current Drawdown Current decline from peak	-0.23%	-0.21%	-0.02%
Average Drawdown Average peak-to-trough decline	-1.54%	-8.42%	+6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.85%	—

Volatility

Volatility by Period

	TMVE	IMCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.94%	11.63%	+2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.94%	16.63%	-2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.94%	19.66%	-5.72%

TMVE vs. IMCV - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is higher than IMCV's 0.06% expense ratio.

Dividends

TMVE vs. IMCV - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than IMCV's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCV iShares Morningstar Mid-Cap ETF	1.94%	2.23%	2.36%	2.30%	2.36%	1.86%	2.61%	2.45%	2.61%	1.87%	2.09%	2.29%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMVE and IMCV in my portfolio?

With a correlation of 0.92, TMVE and IMCV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TMVE or IMCV?

On fees, IMCV is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or IMCV?

IMCV is cheaper with a 0.06% expense ratio, compared with 0.55% for TMVE.

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

IMCV has the higher dividend yield at 1.94%, compared with 0.10% for TMVE.

What is the main difference between TMVE and IMCV?

TMVE tracks Actively Managed, while IMCV tracks Morningstar US Mid Cap Broad Value Index. They also come from different issuers: Thrivent and iShares. Their fees differ too: 0.55% for TMVE and 0.06% for IMCV.