VOE vs. TMSIX

Last updated Jun 4, 2026

VOE (Vanguard Mid-Cap Value ETF) and TMSIX (Thrivent Mid Cap Stock Fund Class S) are both funds - VOE is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index, while TMSIX is a Mid Cap Blend Equities fund managed by Thrivent. Over the past 10 years, VOE returned 10.55%/yr vs 12.29%/yr for TMSIX. Their correlation of 0.93 suggests significant overlap in exposure. VOE charges 0.07%/yr vs 0.74%/yr for TMSIX.

Performance

VOE vs. TMSIX - Performance Comparison

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

Returns By Period

In the year-to-date period, VOE achieves a 10.75% return, which is significantly lower than TMSIX's 15.19% return. Over the past 10 years, VOE has underperformed TMSIX with an annualized return of 10.55%, while TMSIX has yielded a comparatively higher 12.29% annualized return.

VOE

• 1D: -0.16%
• 1M: 1.35%
• YTD: 10.75%
• 6M: 11.62%
• 1Y: 22.73%
• 3Y*: 16.53%
• 5Y*: 8.45%
• 10Y*: 10.55%

TMSIX

• 1D: 0.70%
• 1M: 4.85%
• YTD: 15.19%
• 6M: 14.64%
• 1Y: 20.73%
• 3Y*: 14.71%
• 5Y*: 7.00%
• 10Y*: 12.29%

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

VOE vs. TMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VOE Vanguard Mid-Cap Value ETF	10.75%	12.08%	14.00%	9.85%	-7.97%	28.78%	2.65%	27.85%	-12.48%	17.07%
TMSIX Thrivent Mid Cap Stock Fund Class S	15.19%	4.64%	14.08%	13.90%	-17.68%	28.06%	21.96%	24.88%	-10.47%	18.90%

Correlation

The correlation between VOE and TMSIX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Aug 28, 2006	0.93

The correlation between VOE and TMSIX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

Return for Risk

VOE vs. TMSIX — Risk / Return Rank

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

VOE

VOE Risk / Return Rank: 61
VOE Sharpe Ratio Rank: 57
VOE Sortino Ratio Rank: 60
VOE Omega Ratio Rank: 55
VOE Calmar Ratio Rank: 65
VOE Martin Ratio Rank: 67

TMSIX

TMSIX Risk / Return Rank: 34
TMSIX Sharpe Ratio Rank: 29
TMSIX Sortino Ratio Rank: 29
TMSIX Omega Ratio Rank: 28
TMSIX Calmar Ratio Rank: 42
TMSIX Martin Ratio Rank: 41

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.

VOE vs. TMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value ETF (VOE) and Thrivent Mid Cap Stock Fund Class S (TMSIX). 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.

	VOE	TMSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.54	+0.46
Sortino ratio: Return per unit of downside risk	2.88	2.24	+0.64
Omega ratio: Gain probability vs. loss probability	1.35	1.27	+0.07
Calmar ratio: Return relative to maximum drawdown	3.30	2.44	+0.85
Martin ratio: Return relative to average drawdown	12.51	8.82	+3.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VOE vs. TMSIX - Sharpe Ratio Comparison

The current VOE Sharpe Ratio is 1.99, which is comparable to the TMSIX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of VOE and TMSIX, 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

	VOE	TMSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	1.54	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.34	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.60	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.47	-0.03

Drawdowns

VOE vs. TMSIX - Drawdown Comparison

The maximum VOE drawdown since its inception was -61.50%, which is greater than TMSIX's maximum drawdown of -56.10%. Use the drawdown chart below to compare losses from any high point for VOE and TMSIX.

Drawdown Indicators

	VOE	TMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.50%	-56.10%	-5.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-8.97%	+2.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.45%	-20.18%	+1.73%
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	-31.57%	+11.87%
Max Drawdown (10Y) Largest decline over 10 years	-43.18%	-40.66%	-2.52%
Current Drawdown Current decline from peak	-0.16%	0.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-8.35%	-10.00%	+1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	2.48%	-0.66%

Volatility

VOE vs. TMSIX - Volatility Comparison

The current volatility for Vanguard Mid-Cap Value ETF (VOE) is 2.58%, while Thrivent Mid Cap Stock Fund Class S (TMSIX) has a volatility of 3.52%. This indicates that VOE experiences smaller price fluctuations and is considered to be less risky than TMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VOE	TMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	3.52%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	10.87%	-2.74%
Volatility (1Y) Calculated over the trailing 1-year period	11.47%	14.29%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.03%	20.42%	-4.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	20.46%	-1.63%

VOE vs. TMSIX - Expense Ratio Comparison

VOE has a 0.07% expense ratio, which is lower than TMSIX's 0.74% expense ratio.

Dividends

VOE vs. TMSIX - Dividend Comparison

VOE's dividend yield for the trailing twelve months is around 1.88%, less than TMSIX's 10.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TMSIX Thrivent Mid Cap Stock Fund Class S	10.76%	12.39%	7.91%	1.48%	2.86%	10.77%	3.26%	2.77%	11.64%	7.92%	4.10%	11.95%
VOE Vanguard Mid-Cap Value ETF	1.88%	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 VOE and TMSIX in my portfolio?

VOE and TMSIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOE or TMSIX?

TMSIX has higher volatility (3.52%) compared to VOE (2.58%). In terms of maximum drawdown, VOE dropped -61.50% vs TMSIX's -56.10%.

Which has better risk-adjusted returns?

VOE currently has the higher Sharpe Ratio (1.99 vs 1.54), 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.