TMVE vs. IVOV

Last updated Aug 1, 2026

TMVE (Thrivent Mid Cap Value ETF) and IVOV (Vanguard S&P Mid-Cap 400 Value ETF) are both Mid Cap Value Equities funds - TMVE tracks the Actively Managed while IVOV tracks the S&P MidCap 400 Value Index. Both are passively managed. Their correlation of 0.93 means they have usually moved in the same direction. TMVE charges 0.55%/yr vs 0.10%/yr for IVOV.

Performance

TMVE vs. IVOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Mid Cap Value ETF (TMVE) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMVE achieves a 17.86% return, which is significantly higher than IVOV's 13.17% return.

TMVE

• 1D: 0.02%
• 1M: -0.42%
• 6M: 12.51%
• YTD: 17.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IVOV

• 1D: -0.27%
• 1M: 0.84%
• 6M: 8.73%
• YTD: 13.17%
• 1Y: 22.84%
• 3Y*: 11.95%
• 5Y*: 9.15%
• 10Y*: 10.61%
• ALL TIME*: 11.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IVOV Vanguard S&P Mid-Cap 400 Value ETF	$975.54K	$1.11M	$1.64M
TMVE Thrivent Mid Cap Value ETF	$149.11K	$96.01K	$541.62K

TMVE vs. IVOV - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	17.86%	6.04%
IVOV Vanguard S&P Mid-Cap 400 Value ETF	13.17%	4.00%

Correlation

The correlation between TMVE and IVOV is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.93

Return for Risk

TMVE vs. IVOV — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

IVOV

IVOV Risk / Return Rank: 59
IVOV Sharpe Ratio Rank: 60
IVOV Sortino Ratio Rank: 65
IVOV Omega Ratio Rank: 56
IVOV Calmar Ratio Rank: 56
IVOV Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TMVE vs. IVOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV). 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	IVOV	Difference
Sharpe ratio: Return per unit of total volatility	—	1.40	—
Sortino ratio: Return per unit of downside risk	—	2.13	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	1.98	—
Martin ratio: Return relative to average drawdown	—	7.05	—

Drawdowns

TMVE vs. IVOV - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, smaller than the maximum IVOV drawdown of -45.99%. Use the drawdown chart below to compare losses from any high point for TMVE and IVOV.

Drawdown Indicators

	TMVE	IVOV	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-45.99%	+37.78%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.99%	—
Current Drawdown Current decline from peak	-1.29%	-1.21%	-0.08%
Average Drawdown Average peak-to-trough decline	-1.36%	-5.38%	+4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.97%	—

Volatility

Volatility by Period

	TMVE	IVOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	14.98%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	19.26%	-6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.21%	21.65%	-8.44%

TMVE vs. IVOV - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is higher than IVOV's 0.10% expense ratio.

Dividends

TMVE vs. IVOV - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than IVOV's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOV Vanguard S&P Mid-Cap 400 Value ETF	1.61%	1.82%	1.74%	1.52%	1.97%	1.78%	2.42%	1.75%	1.87%	1.55%	1.51%	1.66%
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 IVOV in my portfolio?

With a correlation of 0.93, TMVE and IVOV 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 IVOV?

On fees, IVOV is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or IVOV?

IVOV is cheaper with a 0.10% expense ratio, compared with 0.55% for TMVE.

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

IVOV has the higher dividend yield at 1.61%, compared with 0.10% for TMVE.

What is the main difference between TMVE and IVOV?

TMVE tracks Actively Managed, while IVOV tracks S&P MidCap 400 Value Index. They also come from different issuers: Thrivent and Vanguard. Their fees differ too: 0.55% for TMVE and 0.10% for IVOV.