TMVE vs. TCPB

Last updated Jun 23, 2026

TMVE (Thrivent Mid Cap Value ETF) and TCPB (Thrivent Core Plus Bond ETF) are both exchange-traded funds - TMVE is a Mid Cap Value Equities fund tracking the Actively Managed, while TCPB is a Intermediate Core-Plus Bond fund actively managed by Thrivent. TMVE is passively managed, while TCPB is actively managed. A 0.50 correlation means they provide meaningful diversification when combined. TMVE charges 0.55%/yr vs 0.39%/yr for TCPB.

Performance

TMVE vs. TCPB - Performance Comparison

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

Returns By Period

In the year-to-date period, TMVE achieves a 17.76% return, which is significantly higher than TCPB's 0.63% return.

TMVE

• 1D: 0.28%
• 1M: 3.58%
• YTD: 17.76%
• 6M: 16.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCPB

• 1D: -0.21%
• 1M: 0.68%
• YTD: 0.63%
• 6M: 0.78%
• 1Y: 5.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMVE vs. TCPB - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	17.76%	6.04%
TCPB Thrivent Core Plus Bond ETF	0.63%	0.74%

Correlation

The correlation between TMVE and TCPB is 0.50, 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	0.50

Return for Risk

TMVE vs. TCPB — 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.

TCPB

TCPB Risk / Return Rank: 39
TCPB Sharpe Ratio Rank: 38
TCPB Sortino Ratio Rank: 39
TCPB Omega Ratio Rank: 37
TCPB Calmar Ratio Rank: 40
TCPB Martin Ratio Rank: 38

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. TCPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and Thrivent Core Plus Bond ETF (TCPB). 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	TCPB	Difference
Sharpe ratio: Return per unit of total volatility	—	1.31	—
Sortino ratio: Return per unit of downside risk	—	1.96	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.95	—
Martin ratio: Return relative to average drawdown	—	5.65	—

Drawdowns

TMVE vs. TCPB - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, which is greater than TCPB's maximum drawdown of -2.74%. Use the drawdown chart below to compare losses from any high point for TMVE and TCPB.

Drawdown Indicators

	TMVE	TCPB	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-2.74%	-5.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.74%	—
Current Drawdown Current decline from peak	-0.37%	-1.14%	+0.77%
Average Drawdown Average peak-to-trough decline	-1.44%	-0.81%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.94%	—

Volatility

Volatility by Period

	TMVE	TCPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.84%	4.08%	+9.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	4.44%	+9.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.84%	4.44%	+9.40%

TMVE vs. TCPB - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is higher than TCPB's 0.39% expense ratio.

Dividends

TMVE vs. TCPB - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than TCPB's 4.77% yield.

Position	TTM	2025
TCPB Thrivent Core Plus Bond ETF	4.77%	3.85%
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%

Frequently Asked Questions

Can I hold both TMVE and TCPB in my portfolio?

TMVE and TCPB have a correlation of 0.50, 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 TCPB?

On fees, TCPB is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or TCPB?

TCPB is cheaper with a 0.39% expense ratio, compared with 0.55% for TMVE.

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

TCPB has the higher dividend yield at 4.77%, compared with 0.10% for TMVE.

What is the main difference between TMVE and TCPB?

TMVE is categorized as Mid Cap Value Equities, while TCPB is Intermediate Core-Plus Bond. Their fees differ too: 0.55% for TMVE and 0.39% for TCPB.