TMVE vs. SDY

Last updated Jun 3, 2026

TMVE (Thrivent Mid Cap Value ETF) and SDY (SPDR S&P Dividend ETF) are both Mid Cap Value Equities funds - TMVE tracks the Actively Managed while SDY tracks the S&P High Yield Dividend Aristocrats Index. Both are passively managed. A 0.76 correlation means they provide meaningful diversification when combined. TMVE charges 0.55%/yr vs 0.35%/yr for SDY.

Performance

TMVE vs. SDY - Performance Comparison

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

Returns By Period

In the year-to-date period, TMVE achieves a 15.00% return, which is significantly higher than SDY's 7.49% return.

TMVE

• 1D: 1.11%
• 1M: 2.42%
• YTD: 15.00%
• 6M: 16.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SDY

• 1D: -0.15%
• 1M: 0.81%
• YTD: 7.49%
• 6M: 7.45%
• 1Y: 12.80%
• 3Y*: 9.83%
• 5Y*: 5.97%
• 10Y*: 9.29%

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

TMVE vs. SDY - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	15.00%	6.04%
SDY SPDR S&P Dividend ETF	7.49%	2.24%

Correlation

The correlation between TMVE and SDY is 0.76, 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 18, 2025	0.76

Return for Risk

TMVE vs. SDY — Risk / Return Rank

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

SDY

SDY Risk / Return Rank: 33
SDY Sharpe Ratio Rank: 33
SDY Sortino Ratio Rank: 36
SDY Omega Ratio Rank: 31
SDY Calmar Ratio Rank: 33
SDY Martin Ratio Rank: 31

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. SDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and SPDR S&P Dividend ETF (SDY). 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	SDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.25	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.25	0.47	+2.78

Drawdowns

TMVE vs. SDY - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, smaller than the maximum SDY drawdown of -54.75%. Use the drawdown chart below to compare losses from any high point for TMVE and SDY.

Drawdown Indicators

	TMVE	SDY	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-54.75%	+46.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.67%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.70%	—
Current Drawdown Current decline from peak	0.00%	-4.07%	+4.07%
Average Drawdown Average peak-to-trough decline	-1.55%	-6.21%	+4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.79%	—

Volatility

Volatility by Period

	TMVE	SDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	10.33%	+3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.98%	14.03%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.98%	17.08%	-3.10%

TMVE vs. SDY - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is higher than SDY's 0.35% expense ratio.

Dividends

TMVE vs. SDY - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than SDY's 2.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SDY SPDR S&P Dividend ETF	2.48%	2.61%	2.56%	2.64%	2.55%	2.63%	2.85%	2.45%	2.73%	4.69%	3.30%	6.20%
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 SDY in my portfolio?

TMVE and SDY have a correlation of 0.76, 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 SDY?

On fees, SDY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or SDY?

SDY is cheaper with a 0.35% expense ratio, compared with 0.55% for TMVE.

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

SDY has the higher dividend yield at 2.48%, compared with 0.10% for TMVE.

What is the main difference between TMVE and SDY?

TMVE tracks Actively Managed, while SDY tracks S&P High Yield Dividend Aristocrats Index. They also come from different issuers: Thrivent and State Street. Their fees differ too: 0.55% for TMVE and 0.35% for SDY.