VOE vs. TMVE

Last updated Jun 25, 2026

VOE (Vanguard Mid-Cap Value ETF) and TMVE (Thrivent Mid Cap Value ETF) are both Mid Cap Value Equities funds - VOE tracks the CRSP US Mid Cap Value Index while TMVE tracks the Actively Managed. Both are passively managed. Their correlation of 0.92 suggests significant overlap in exposure. VOE charges 0.05%/yr vs 0.55%/yr for TMVE.

Performance

VOE vs. TMVE - 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 Value ETF (TMVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VOE achieves a 12.36% return, which is significantly lower than TMVE's 17.80% return.

VOE

• 1D: 0.55%
• 1M: 1.98%
• YTD: 12.36%
• 6M: 11.18%
• 1Y: 23.06%
• 3Y*: 16.45%
• 5Y*: 9.24%
• 10Y*: 11.02%

TMVE

• 1D: 0.35%
• 1M: 3.61%
• YTD: 17.80%
• 6M: 16.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VOE vs. TMVE - Yearly Performance Comparison

	2026 (YTD)	2025
VOE Vanguard Mid-Cap Value ETF	12.36%	2.57%
TMVE Thrivent Mid Cap Value ETF	17.80%	6.04%

Correlation

The correlation between VOE and TMVE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.92

Return for Risk

VOE vs. TMVE — Risk / Return Rank

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

VOE

VOE Risk / Return Rank: 71
VOE Sharpe Ratio Rank: 69
VOE Sortino Ratio Rank: 71
VOE Omega Ratio Rank: 65
VOE Calmar Ratio Rank: 73
VOE Martin Ratio Rank: 75

TMVE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TMVE - 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 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VOE	TMVE	Difference
Sharpe ratio: Return per unit of total volatility	2.00	—	—
Sortino ratio: Return per unit of downside risk	2.87	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.34	—	—
Martin ratio: Return relative to average drawdown	12.64	—	—

Drawdowns

VOE vs. TMVE - Drawdown Comparison

The maximum VOE drawdown since its inception was -61.50%, which is greater than TMVE's maximum drawdown of -8.21%. Use the drawdown chart below to compare losses from any high point for VOE and TMVE.

Drawdown Indicators

	VOE	TMVE	Difference
Max Drawdown Largest peak-to-trough decline	-61.50%	-8.21%	-53.29%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.18%	—	—
Current Drawdown Current decline from peak	-0.52%	-0.35%	-0.17%
Average Drawdown Average peak-to-trough decline	-8.33%	-1.43%	-6.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	—	—

Volatility

Volatility by Period

	VOE	TMVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.62%	13.77%	-2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.01%	13.77%	+2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.79%	13.77%	+5.02%

VOE vs. TMVE - Expense Ratio Comparison

VOE has a 0.05% expense ratio, which is lower than TMVE's 0.55% expense ratio.

Dividends

VOE vs. TMVE - Dividend Comparison

VOE's dividend yield for the trailing twelve months is around 1.85%, more than TMVE's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TMVE Thrivent Mid Cap Value ETF	0.10%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOE Vanguard Mid-Cap Value ETF	1.85%	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 TMVE in my portfolio?

With a correlation of 0.92, VOE and TMVE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VOE or TMVE?

On fees, VOE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VOE or TMVE?

VOE is cheaper with a 0.05% expense ratio, compared with 0.55% for TMVE.

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

VOE has the higher dividend yield at 1.85%, compared with 0.10% for TMVE.

What is the main difference between VOE and TMVE?

VOE tracks CRSP US Mid Cap Value Index, while TMVE tracks Actively Managed. They also come from different issuers: Vanguard and Thrivent. Their fees differ too: 0.05% for VOE and 0.55% for TMVE.