TSME vs. TUSB

Last updated Jun 3, 2026

TSME (Thrivent Small-Mid Cap ESG ETF) and TUSB (Thrivent Ultra Short Bond ETF) are both exchange-traded funds - TSME is a Mid Cap Blend Equities fund actively managed by Thrivent, while TUSB is a Ultrashort Bond fund actively managed by Thrivent. Both are actively managed. Over the past year, TSME returned 40.22% vs 4.76% for TUSB. At a 0.09 correlation, their price movements are largely independent. TSME charges 0.65%/yr vs 0.20%/yr for TUSB.

Performance

TSME vs. TUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Small-Mid Cap ESG ETF (TSME) 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, TSME achieves a 16.94% return, which is significantly higher than TUSB's 1.88% return.

TSME

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

TUSB

• 1D: 0.01%
• 1M: 0.51%
• YTD: 1.88%
• 6M: 2.24%
• 1Y: 4.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSME vs. TUSB - Yearly Performance Comparison

	2026 (YTD)	2025
TSME Thrivent Small-Mid Cap ESG ETF	16.94%	10.42%
TUSB Thrivent Ultra Short Bond ETF	1.88%	4.14%

Correlation

The correlation between TSME and TUSB is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.09

Return for Risk

TSME vs. TUSB — 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

TUSB

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

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. TUSB - Risk-Adjusted Trends Comparison

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

	TSME	TUSB	Difference
Sharpe ratio Return per unit of total volatility	1.91	5.22	-3.31
Sortino ratio Return per unit of downside risk	2.68	9.41	-6.73
Omega ratio Gain probability vs. loss probability	1.33	2.31	-0.98
Calmar ratio Return relative to maximum drawdown	2.65	19.34	-16.69
Martin ratio Return relative to average drawdown	9.10	83.20	-74.09
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. TUSB - Sharpe Ratio Comparison

The current TSME Sharpe Ratio is 1.91, which is lower than the TUSB Sharpe Ratio of 5.22. The chart below compares the historical Sharpe Ratios of TSME and TUSB, 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	TUSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	5.22	-3.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	3.82	-2.92

Drawdowns

TSME vs. TUSB - Drawdown Comparison

The maximum TSME drawdown since its inception was -26.59%, which is greater than TUSB's maximum drawdown of -0.51%. Use the drawdown chart below to compare losses from any high point for TSME and TUSB.

Drawdown Indicators

	TSME	TUSB	Difference
Max Drawdown Largest peak-to-trough decline	-26.59%	-0.51%	-26.08%
Max Drawdown (1Y) Largest decline over 1 year	-14.72%	-0.25%	-14.47%
Max Drawdown (3Y) Largest decline over 3 years	-26.59%	—	—
Current Drawdown Current decline from peak	0.00%	-0.03%	+0.03%
Average Drawdown Average peak-to-trough decline	-5.20%	-0.06%	-5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	0.06%	+4.23%

Volatility

TSME vs. TUSB - Volatility Comparison

Thrivent Small-Mid Cap ESG ETF (TSME) has a higher volatility of 7.63% compared to Thrivent Ultra Short Bond ETF (TUSB) at 0.31%. This indicates that TSME's price experiences larger fluctuations and is considered to be riskier than TUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSME	TUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	0.31%	+7.32%
Volatility (6M) Calculated over the trailing 6-month period	17.08%	0.65%	+16.43%
Volatility (1Y) Calculated over the trailing 1-year period	21.15%	0.92%	+20.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.69%	1.25%	+20.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.69%	1.25%	+20.44%

TSME vs. TUSB - Expense Ratio Comparison

TSME has a 0.65% expense ratio, which is higher than TUSB's 0.20% expense ratio.

Dividends

TSME vs. TUSB - Dividend Comparison

TSME's dividend yield for the trailing twelve months is around 0.14%, less than TUSB's 4.26% yield.

Position	TTM	2025	2024	2023	2022
TSME Thrivent Small-Mid Cap ESG ETF	0.14%	0.17%	0.38%	0.53%	0.16%
TUSB Thrivent Ultra Short Bond ETF	4.26%	3.62%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSME and TUSB in my portfolio?

TSME and TUSB have a correlation of 0.06, 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 TUSB?

TSME has higher volatility (7.63%) compared to TUSB (0.31%). In terms of maximum drawdown, TSME dropped -26.59% vs TUSB's -0.51%.

Which ETF is better, TSME or TUSB?

On 1-year performance, TSME leads with 40.22% vs 4.76% for TUSB. On fees, TUSB is cheaper at 0.20% per year. On volatility, TUSB has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSME or TUSB?

Over the 1-year period, TSME has performed better with a 40.22% return vs 4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSME or TUSB?

TUSB is cheaper with a 0.20% expense ratio, compared with 0.65% for TSME.

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

TUSB has the higher dividend yield at 4.26%, compared with 0.14% for TSME.

What is the main difference between TSME and TUSB?

TSME is categorized as Mid Cap Blend Equities, while TUSB is Ultrashort Bond. Their fees differ too: 0.65% for TSME and 0.20% for TUSB.

Which has better risk-adjusted returns?

TUSB currently has the higher Sharpe Ratio (5.22 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.