TMVE vs. VOE

Last updated Jun 5, 2026

TMVE (Thrivent Mid Cap Value ETF) and VOE (Vanguard Mid-Cap Value ETF) are both Mid Cap Value Equities funds - TMVE tracks the Actively Managed while VOE tracks the CRSP US Mid Cap Value Index. Both are passively managed. Their correlation of 0.92 suggests significant overlap in exposure. TMVE charges 0.55%/yr vs 0.05%/yr for VOE.

Performance

TMVE vs. VOE - Performance Comparison

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

Returns By Period

In the year-to-date period, TMVE achieves a 15.55% return, which is significantly higher than VOE's 11.76% return.

TMVE

• 1D: 0.71%
• 1M: 2.49%
• YTD: 15.55%
• 6M: 16.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOE

• 1D: 0.91%
• 1M: 1.77%
• YTD: 11.76%
• 6M: 12.39%
• 1Y: 24.53%
• 3Y*: 17.01%
• 5Y*: 8.65%
• 10Y*: 10.58%

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

TMVE vs. VOE - Yearly Performance Comparison

	2026 (YTD)	2025
TMVE Thrivent Mid Cap Value ETF	15.55%	6.04%
VOE Vanguard Mid-Cap Value ETF	11.76%	4.09%

Correlation

The correlation between TMVE and VOE 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. VOE — Risk / Return Rank

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

VOE

VOE Risk / Return Rank: 69
VOE Sharpe Ratio Rank: 66
VOE Sortino Ratio Rank: 69
VOE Omega Ratio Rank: 63
VOE Calmar Ratio Rank: 72
VOE Martin Ratio Rank: 73

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. VOE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Mid Cap Value ETF (TMVE) and Vanguard Mid-Cap Value ETF (VOE). 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	VOE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.15	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.30	0.44	+2.85

Drawdowns

TMVE vs. VOE - Drawdown Comparison

The maximum TMVE drawdown since its inception was -8.21%, smaller than the maximum VOE drawdown of -61.50%. Use the drawdown chart below to compare losses from any high point for TMVE and VOE.

Drawdown Indicators

	TMVE	VOE	Difference
Max Drawdown Largest peak-to-trough decline	-8.21%	-61.50%	+53.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.18%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.53%	-8.35%	+6.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.82%	—

Volatility

Volatility by Period

	TMVE	VOE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.91%	11.48%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	16.04%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.91%	18.83%	-4.92%

TMVE vs. VOE - Expense Ratio Comparison

TMVE has a 0.55% expense ratio, which is higher than VOE's 0.05% expense ratio.

Dividends

TMVE vs. VOE - Dividend Comparison

TMVE's dividend yield for the trailing twelve months is around 0.10%, less than VOE's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOE Vanguard Mid-Cap Value ETF	1.86%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both TMVE and VOE in my portfolio?

With a correlation of 0.92, TMVE and VOE 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 VOE?

On fees, VOE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMVE or VOE?

VOE is cheaper with a 0.05% expense ratio, compared with 0.55% for TMVE.

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

VOE has the higher dividend yield at 1.86%, compared with 0.10% for TMVE.

What is the main difference between TMVE and VOE?

TMVE tracks Actively Managed, while VOE tracks CRSP US Mid Cap Value Index. They also come from different issuers: Thrivent and Vanguard. Their fees differ too: 0.55% for TMVE and 0.05% for VOE.