TSME vs. TCPB

Last updated Jun 4, 2026

TSME (Thrivent Small-Mid Cap ESG ETF) and TCPB (Thrivent Core Plus Bond ETF) are both exchange-traded funds - TSME is a Mid Cap Blend Equities fund actively managed by Thrivent, while TCPB is a Intermediate Core-Plus Bond fund actively managed by Thrivent. Both are actively managed. Over the past year, TSME returned 36.32% vs 5.97% for TCPB. At a 0.26 correlation, their price movements are largely independent. TSME charges 0.65%/yr vs 0.39%/yr for TCPB.

Performance

TSME vs. TCPB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Small-Mid Cap ESG ETF (TSME) 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, TSME achieves a 16.53% return, which is significantly higher than TCPB's 0.43% return.

TSME

• 1D: -0.35%
• 1M: 3.31%
• YTD: 16.53%
• 6M: 17.22%
• 1Y: 36.32%
• 3Y*: 21.67%
• 5Y*: —
• 10Y*: —

TCPB

• 1D: -0.25%
• 1M: 0.36%
• YTD: 0.43%
• 6M: 0.31%
• 1Y: 5.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSME vs. TCPB - Yearly Performance Comparison

	2026 (YTD)	2025
TSME Thrivent Small-Mid Cap ESG ETF	16.53%	10.42%
TCPB Thrivent Core Plus Bond ETF	0.43%	6.30%

Correlation

The correlation between TSME and TCPB is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.26

Return for Risk

TSME vs. TCPB — Risk / Return Rank

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

TSME

TSME Risk / Return Rank: 50
TSME Sharpe Ratio Rank: 50
TSME Sortino Ratio Rank: 51
TSME Omega Ratio Rank: 48
TSME Calmar Ratio Rank: 51
TSME Martin Ratio Rank: 50

TCPB

TCPB Risk / Return Rank: 43
TCPB Sharpe Ratio Rank: 42
TCPB Sortino Ratio Rank: 44
TCPB Omega Ratio Rank: 43
TCPB Calmar Ratio Rank: 45
TCPB Martin Ratio Rank: 42

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. TCPB - Risk-Adjusted Trends Comparison

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

	TSME	TCPB	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.46	+0.27
Sortino ratio: Return per unit of downside risk	2.46	2.19	+0.27
Omega ratio: Gain probability vs. loss probability	1.30	1.27	+0.03
Calmar ratio: Return relative to maximum drawdown	2.48	2.19	+0.29
Martin ratio: Return relative to average drawdown	8.50	6.60	+1.90
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. TCPB - Sharpe Ratio Comparison

The current TSME Sharpe Ratio is 1.74, which is comparable to the TCPB Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of TSME and TCPB, 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	TCPB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	1.46	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.18	-0.29

Drawdowns

TSME vs. TCPB - Drawdown Comparison

The maximum TSME drawdown since its inception was -26.59%, which is greater than TCPB's maximum drawdown of -2.74%. Use the drawdown chart below to compare losses from any high point for TSME and TCPB.

Drawdown Indicators

	TSME	TCPB	Difference
Max Drawdown Largest peak-to-trough decline	-26.59%	-2.74%	-23.85%
Max Drawdown (1Y) Largest decline over 1 year	-14.72%	-2.74%	-11.98%
Max Drawdown (3Y) Largest decline over 3 years	-26.59%	—	—
Current Drawdown Current decline from peak	-0.35%	-1.34%	+0.99%
Average Drawdown Average peak-to-trough decline	-5.19%	-0.79%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	0.91%	+3.38%

Volatility

TSME vs. TCPB - Volatility Comparison

Thrivent Small-Mid Cap ESG ETF (TSME) has a higher volatility of 7.58% compared to Thrivent Core Plus Bond ETF (TCPB) at 1.36%. This indicates that TSME's price experiences larger fluctuations and is considered to be riskier than TCPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSME	TCPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.58%	1.36%	+6.22%
Volatility (6M) Calculated over the trailing 6-month period	17.07%	2.65%	+14.42%
Volatility (1Y) Calculated over the trailing 1-year period	21.13%	4.10%	+17.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.68%	4.45%	+17.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.68%	4.45%	+17.23%

TSME vs. TCPB - Expense Ratio Comparison

TSME has a 0.65% expense ratio, which is higher than TCPB's 0.39% expense ratio.

Dividends

TSME vs. TCPB - Dividend Comparison

TSME's dividend yield for the trailing twelve months is around 0.14%, less than TCPB's 4.78% yield.

Position	TTM	2025	2024	2023	2022
TCPB Thrivent Core Plus Bond ETF	4.78%	3.85%	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 TCPB in my portfolio?

TSME and TCPB have a correlation of 0.35, 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 TCPB?

TSME has higher volatility (7.58%) compared to TCPB (1.36%). In terms of maximum drawdown, TSME dropped -26.59% vs TCPB's -2.74%.

Which ETF is better, TSME or TCPB?

On 1-year performance, TSME leads with 36.32% vs 5.97% for TCPB. On fees, TCPB is cheaper at 0.39% per year. On volatility, TCPB has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSME or TCPB?

Over the 1-year period, TSME has performed better with a 36.32% return vs 5.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSME or TCPB?

TCPB is cheaper with a 0.39% expense ratio, compared with 0.65% for TSME.

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

TCPB has the higher dividend yield at 4.78%, compared with 0.14% for TSME.

What is the main difference between TSME and TCPB?

TSME is categorized as Mid Cap Blend Equities, while TCPB is Intermediate Core-Plus Bond. Their fees differ too: 0.65% for TSME and 0.39% for TCPB.

Which has better risk-adjusted returns?

TSME currently has the higher Sharpe Ratio (1.74 vs 1.46), 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.