TMVE vs. TUSB

Last updated Aug 1, 2026

TMVE (Thrivent Mid Cap Value ETF) and TUSB (Thrivent Ultra Short Bond ETF) are both exchange-traded funds - TMVE is a Mid Cap Value Equities fund tracking the Actively Managed, while TUSB is a Ultrashort Bond fund actively managed by Thrivent. TMVE is passively managed, while TUSB is actively managed. Their 0.23 correlation means their historical movements had little consistent relationship. TMVE charges 0.55%/yr vs 0.20%/yr for TUSB.

Performance

TMVE vs. TUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Mid Cap Value ETF (TMVE) and Thrivent Ultra Short Bond ETF (TUSB). 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 TUSB's 2.58% return.

TMVE

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

TUSB

• 1D: 0.06%
• 1M: 0.47%
• 6M: 2.07%
• YTD: 2.58%
• 1Y: 4.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.76%

*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)
TMVE Thrivent Mid Cap Value ETF	$149.11K	$96.01K	$541.62K
TUSB Thrivent Ultra Short Bond ETF	$669.76K	$810.48K	$941.31K

TMVE vs. TUSB - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	17.86%	6.04%
TUSB Thrivent Ultra Short Bond ETF	2.58%	0.57%

Correlation

The correlation between TMVE and TUSB is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.23

Return for Risk

TMVE vs. TUSB — 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.

TUSB

TUSB Risk / Return Rank: 99
TUSB Sharpe Ratio Rank: 98
TUSB Sortino Ratio Rank: 99
TUSB Omega Ratio Rank: 98
TUSB Calmar Ratio Rank: 99
TUSB Martin Ratio Rank: 99

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. TUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and Thrivent Ultra Short Bond ETF (TUSB). 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	TUSB	Difference
Sharpe ratio: Return per unit of total volatility	—	4.80	—
Sortino ratio: Return per unit of downside risk	—	8.41	—
Omega ratio: Gain probability vs. loss probability	—	2.15	—
Calmar ratio: Return relative to maximum drawdown	—	18.79	—
Martin ratio: Return relative to average drawdown	—	74.19	—

Drawdowns

TMVE vs. TUSB - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, which is greater than TUSB's maximum drawdown of -0.51%. Use the drawdown chart below to compare losses from any high point for TMVE and TUSB.

Drawdown Indicators

	TMVE	TUSB	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-0.51%	-7.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.25%	—
Current Drawdown Current decline from peak	-1.29%	0.00%	-1.29%
Average Drawdown Average peak-to-trough decline	-1.36%	-0.06%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.06%	—

Volatility

Volatility by Period

	TMVE	TUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	0.97%	+12.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	1.23%	+11.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.21%	1.23%	+11.98%

TMVE vs. TUSB - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is higher than TUSB's 0.20% expense ratio.

Dividends

TMVE vs. TUSB - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than TUSB's 4.26% yield.

Position	TTM	2025
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%
TUSB Thrivent Ultra Short Bond ETF	4.26%	3.62%

Frequently Asked Questions

Can I hold both TMVE and TUSB in my portfolio?

TMVE and TUSB have a correlation of 0.23, 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 TUSB?

On fees, TUSB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or TUSB?

TUSB is cheaper with a 0.20% expense ratio, compared with 0.55% for TMVE.

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

TUSB has the higher dividend yield at 4.26%, compared with 0.10% for TMVE.

What is the main difference between TMVE and TUSB?

TMVE is categorized as Mid Cap Value Equities, while TUSB is Ultrashort Bond. Their fees differ too: 0.55% for TMVE and 0.20% for TUSB.