TUSB vs. TMVE

Last updated Jun 4, 2026

TUSB (Thrivent Ultra Short Bond ETF) and TMVE (Thrivent Mid Cap Value ETF) are both exchange-traded funds - TUSB is a Ultrashort Bond fund actively managed by Thrivent, while TMVE is a Mid Cap Value Equities fund tracking the Actively Managed. TUSB is actively managed, while TMVE is passively managed. At a 0.30 correlation, their price movements are largely independent. TUSB charges 0.20%/yr vs 0.55%/yr for TMVE.

Performance

TUSB vs. TMVE - Performance Comparison

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

Returns By Period

In the year-to-date period, TUSB achieves a 1.78% return, which is significantly lower than TMVE's 14.73% return.

TUSB

• 1D: -0.10%
• 1M: 0.44%
• YTD: 1.78%
• 6M: 2.09%
• 1Y: 4.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMVE

• 1D: -0.23%
• 1M: 2.73%
• YTD: 14.73%
• 6M: 15.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TUSB vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
TUSB Thrivent Ultra Short Bond ETF	1.78%	0.57%
TMVE Thrivent Mid Cap Value ETF	14.73%	6.04%

Correlation

The correlation between TUSB and TMVE is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.30

Return for Risk

TUSB vs. TMVE — Risk / Return Rank

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

TUSB

TUSB Risk / Return Rank: 98
TUSB Sharpe Ratio Rank: 98
TUSB Sortino Ratio Rank: 98
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.

TUSB vs. TMVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Ultra Short Bond ETF (TUSB) and Thrivent Mid Cap Value ETF (TMVE). 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.

	TUSB	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	5.03	—	—
Sortino ratio: Return per unit of downside risk	8.97	—	—
Omega ratio: Gain probability vs. loss probability	2.24	—	—
Calmar ratio: Return relative to maximum drawdown	18.74	—	—
Martin ratio: Return relative to average drawdown	79.65	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TUSB	TMVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.73	3.18	+0.55

Drawdowns

TUSB vs. TMVE - Drawdown Comparison

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

Drawdown Indicators

	TUSB	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-0.51%	-8.21%	+7.70%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	—	—
Current Drawdown Current decline from peak	-0.13%	-0.23%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.06%	-1.54%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	—	—

Volatility

Volatility by Period

	TUSB	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.92%	13.94%	-13.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.25%	13.94%	-12.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.25%	13.94%	-12.69%

TUSB vs. TMVE - Expense Ratio Comparison

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

Dividends

TUSB vs. TMVE - Dividend Comparison

TUSB's dividend yield for the trailing twelve months is around 4.26%, more than TMVE's 0.10% 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 TUSB and TMVE in my portfolio?

TUSB and TMVE have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TUSB or TMVE?

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, TUSB or TMVE?

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

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

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

What is the main difference between TUSB and TMVE?

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