TSME vs. AMRC

Last updated Jun 3, 2026

TSME (Thrivent Small-Mid Cap ESG ETF) is Mid Cap Blend Equities fund actively managed by Thrivent, while AMRC (Ameresco, Inc.) is a stock. Over the past 3 years, TSME returned 21.81%/yr vs -7.77%/yr for AMRC. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

TSME vs. AMRC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Small-Mid Cap ESG ETF (TSME) and Ameresco, Inc. (AMRC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSME achieves a 16.94% return, which is significantly lower than AMRC's 23.15% return.

TSME

• 1D: 1.90%
• 1M: 2.79%
• YTD: 16.94%
• 6M: 18.66%
• 1Y: 40.22%
• 3Y*: 21.81%
• 5Y*: —
• 10Y*: —

AMRC

• 1D: 4.25%
• 1M: 15.02%
• YTD: 23.15%
• 6M: 2.85%
• 1Y: 166.59%
• 3Y*: -7.77%
• 5Y*: -8.16%
• 10Y*: 22.35%

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

TSME vs. AMRC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSME Thrivent Small-Mid Cap ESG ETF	16.94%	13.79%	18.98%	17.82%	2.41%
AMRC Ameresco, Inc.	23.15%	24.74%	-25.86%	-44.57%	-17.46%

Correlation

The correlation between TSME and AMRC is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	0.52

The correlation between TSME and AMRC has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.

Return for Risk

TSME vs. AMRC — Risk / Return Rank

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

TSME

TSME Risk / Return Rank: 54
TSME Sharpe Ratio Rank: 55
TSME Sortino Ratio Rank: 55
TSME Omega Ratio Rank: 52
TSME Calmar Ratio Rank: 53
TSME Martin Ratio Rank: 52

AMRC

AMRC Risk / Return Rank: 86
AMRC Sharpe Ratio Rank: 88
AMRC Sortino Ratio Rank: 88
AMRC Omega Ratio Rank: 86
AMRC Calmar Ratio Rank: 85
AMRC Martin Ratio Rank: 80

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.

TSME vs. AMRC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Small-Mid Cap ESG ETF (TSME) and Ameresco, Inc. (AMRC). 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.

	TSME	AMRC	Difference
Sharpe ratio Return per unit of total volatility	1.91	2.05	-0.13
Sortino ratio Return per unit of downside risk	2.68	3.05	-0.37
Omega ratio Gain probability vs. loss probability	1.33	1.38	-0.05
Calmar ratio Return relative to maximum drawdown	2.65	3.64	-0.98
Martin ratio Return relative to average drawdown	9.10	6.85	+2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSME vs. AMRC - Sharpe Ratio Comparison

The current TSME Sharpe Ratio is 1.91, which is comparable to the AMRC Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of TSME and AMRC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSME	AMRC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.05	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.21	+0.69

Drawdowns

TSME vs. AMRC - Drawdown Comparison

The maximum TSME drawdown since its inception was -26.59%, smaller than the maximum AMRC drawdown of -91.12%. Use the drawdown chart below to compare losses from any high point for TSME and AMRC.

Drawdown Indicators

	TSME	AMRC	Difference
Max Drawdown Largest peak-to-trough decline	-26.59%	-91.12%	+64.53%
Max Drawdown (1Y) Largest decline over 1 year	-14.72%	-44.48%	+29.76%
Max Drawdown (3Y) Largest decline over 3 years	-26.59%	-86.26%	+59.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-91.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-91.12%	—
Current Drawdown Current decline from peak	0.00%	-63.01%	+63.01%
Average Drawdown Average peak-to-trough decline	-5.20%	-42.66%	+37.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	23.61%	-19.32%

Volatility

TSME vs. AMRC - Volatility Comparison

The current volatility for Thrivent Small-Mid Cap ESG ETF (TSME) is 7.63%, while Ameresco, Inc. (AMRC) has a volatility of 23.89%. This indicates that TSME experiences smaller price fluctuations and is considered to be less risky than AMRC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSME	AMRC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	23.89%	-16.26%
Volatility (6M) Calculated over the trailing 6-month period	17.08%	44.16%	-27.08%
Volatility (1Y) Calculated over the trailing 1-year period	21.15%	81.89%	-60.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.69%	74.10%	-52.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.69%	63.19%	-41.50%

Dividends

TSME vs. AMRC - Dividend Comparison

TSME's dividend yield for the trailing twelve months is around 0.14%, while AMRC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
AMRC Ameresco, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%
TSME Thrivent Small-Mid Cap ESG ETF	0.14%	0.17%	0.38%	0.53%	0.16%

Frequently Asked Questions

Can I hold both TSME and AMRC in my portfolio?

TSME and AMRC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSME or AMRC?

AMRC has higher volatility (23.89%) compared to TSME (7.63%). In terms of maximum drawdown, TSME dropped -26.59% vs AMRC's -91.12%.

Which has better risk-adjusted returns?

AMRC currently has the higher Sharpe Ratio (2.05 vs 1.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.