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English Site collapse row ETFs
Thrivent Small-Mid Cap ESG ETF —
TSME
TSME
Thrivent Small-Mid Cap ESG ETF
Risk profile
Conservative Aggressive

Market Cap & Style

Large
Mid
Small
Value
Blend
Growth
Inception date
10/5/2022
As of
Net asset value
-
Daily NAV change
-
As of N/A
Mid-point bid-ask price
-
Premium/ Discount
-
30-day median bid-ask spread
-
30-day average trading volume
-
As of 02/28/2023
YTD NAV return
10.51%
Since Inception NAV return
12.72%
As of 02/28/2023
Net annual fund operating expenses
0.65%
As of
Thrivent Small-Mid Cap ESG ETF
English Site collapse row ETFs

Thrivent Small-Mid Cap ESG ETF seeks long-term capital growth.

This ETF looks to provide investors with consistent, competitive performance through favorable stock selection while monitoring risk. The ETF typically invests in a combination of small- and mid-sized companies across the growth and value spectrums. The management team looks for stocks that it determines have sustainable long-term business models and a demonstrated commitment to environmental, social and corporate governance (“ESG”) policies, practices or outcomes. The ETF is newly formed and does not have any operating history.

Additional info:

This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:
 - You may have to pay more money to trade the ETF’s shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
 - The price you pay to buy ETF shares on an exchange may not match the value of the ETF’s portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.
 - These additional risks may be even greater in bad or uncertain market conditions.
 - The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio.
The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF’s performance. If other traders are able to copy or predict the ETF’s investment strategy, however, this may hurt the ETF’s performance. For additional information regarding the unique attributes and risks of the ETF, see the Principal Risks section of the prospectus.
Fund management

Our seasoned team of more than 125 investment professionals brings their deep expertise to managing each fund so you can feel confident in the choices you’re making. More than 80% have at least 10 years of experience, more than 50% have more than 20 years of investment experience, and more than 85% have earned the Chartered Financial Analyst designation, an advanced degree, or both.

  • Matthew D. Finn, CFA
    Matthew D. Finn, CFA
    VP, Head of Equity Funds
    Managing this fund since 2022

    Mr. Finn joined Thrivent in 2004. He is the Head of Equity Mutual Funds. Read more.

  • Chad Miller, CFA
    Chad Miller, CFA
    Senior Portfolio Manager
    Managing this fund since 2022

    Mr. Miller joined Thrivent in 2013 and is a Senior Portfolio Manager. Read more.

Performance

Performance data cited represents past performance and should not be viewed as an indication of future results. Investment return and principal value of the investment will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. A fund’s performance for very short time periods may not be indicative of future performance. Market returns are based on the midpoint of the bid/ask spread at market close (typically, 4 p.m. ET) and do not represent returns an investor would receive if shares were traded at other times. Current performance may be lower or higher than the performance data quoted.

Average Annualized Returns

as of 02/28/2023
0.65% Total annual fund operating expenses
See data by:

Characteristics

Performance data cited represents past performance and should not be viewed as an indication of future results. Investment return and principal value of the investment will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. A fund’s performance for very short time periods may not be indicative of future performance. Market returns are based on the midpoint of the bid/ask spread at market close (typically, 4 p.m. ET) and do not represent returns an investor would receive if shares were traded at other times. Current performance may be lower or higher than the performance data quoted.

Holdings breakdown

as of 02/28/2023
Total number of holdings
61

Top 10 Holdings

as of 01/31/2023
24.30%
of all holdings
N/A
N/A
Security name % of total assets
Burlington Stores, Inc. 3.14%
Arch Capital Group, Ltd. 2.72%
IAA, Inc. 2.47%
Timken Company 2.47%
Steel Dynamics, Inc. 2.42%
Wyndham Hotels & Resorts, Inc. 2.42%
Lamb Weston Holdings, Inc. 2.25%
United Rentals, Inc. 2.18%
Quanta Services, Inc. 2.13%
Littelfuse, Inc. 2.10%

Fund Diversification

as of 12/30/2022
N/A
N/A
  • Industrials
    21.15%
  • Financials
    16.27%
  • Consumer Discretionary
    13.88%
  • Information Technology
    13.15%
  • Materials
    9.61%
  • Real Estate
    8.04%
  • Health Care
    7.61%
  • Consumer Staples
    4.35%
  • Utilities
    3.38%
  • Energy
    1.77%
  • Cash
    .78%

Equity characteristics

as of 02/28/2023
P/E Ratio Return on Equity
Thrivent Small-Mid Cap ESG ETF 18.82 17.65%
S&P 500® Index 20.05 24.95%

Historical Premium/Discount

Number Of Days At Premium
Number Of Days At Nav
Number Of Days At Discount
Download Historical Premium/Discount Data

Proxy Portfolio Basket

-
Proxy Portfolio overlap % Proxy tracking error

-

-
Download Proxy Portfolio Basket

Distributions

as of 02/28/2023
Dividends Month End Nav
October 2022 $0.0000 $26.58
November 2022 $0.0000 $27.86
December 2022 $0.0418 $26.36
January 2023 $0.0000 $29.19
February 2023 $0.0000 $29.13

Trailing 12-Months; Dividend Schedule: Paid Annually

Capital gains - trailing 12 months

as of 02/28/2023
Record date Short term capital gains Long term capital gains Total
- - - -

Expenses

Management Fees and Other Expenses 0.65%
Total Annual Fund Operating Expenses 0.65%

Documents

Title Download View
Summary Prospectus -
Prospectus -
Fund Commentary -
Fund Facts -
Sales Profile -
Schedule of Investments -
Statement of Additional Information -

Additional risk associated with an ETF

Authorized Participant Concentration Risk. Only an Authorized Participant may engage in creation or redemption transactions directly with the Fund. The Fund may have a limited number of institutions that act as authorized participants, none of which are obligated to engage in creation and/or redemption transactions. To the extent that these institutions exit the business or are unable or unwilling to proceed with creation and/or redemption orders with respect to the Fund and no other Authorized Participant is able to step forward to process creation and/or redemption orders, Fund shares may trade at a discount to NAV and possibly face trading halts and/or delisting. This risk may be more pronounced during periods of market volatility or market disruptions. The fact that the Fund is offering a novel and unique structure may result in a fewer number of entities willing to act as authorized participants, particularly during times of market volatility.

Market Trading Risk. Although Fund shares are listed on national securities exchanges, there can be no assurance that an active trading market for Fund shares will develop or be maintained. If an active market is not maintained, investors may find it difficult to buy or sell Fund shares. Trading of shares of the Fund on a national securities exchange may be halted if exchange officials deem such action appropriate, if the Fund is delisted, or if the activation of marketwide “circuit breakers” halts stock trading generally. If the Fund’s shares are delisted, the Fund may seek to list its shares on another market, become a fully-transparent ETF, merge with another ETF, or redeem its shares at NAV.

Premium/Discount Risk. Publication of the Proxy Portfolio is not the same level of transparency as the publication of the Actual Portfolio by a fully transparent ETF. Although the Proxy Portfolio is intended to provide Authorized Participants and other market participants with enough information to allow for an effective arbitrage mechanism that is intended to keep the market price of the Fund at or close to the underlying NAV per share of the Fund, there is a risk (which may increase during periods of market disruption or volatility) that the market price of the Fund’s shares will vary significantly from the NAV per share of the Fund. This means the price paid to buy shares on an exchange may not match the value of the Fund’s portfolio. The same is true when shares are sold.

Proxy Portfolio Risk. Unlike traditional ETFs that disclose their portfolio holdings on a daily basis, the Fund does not disclose its holdings daily, rather it discloses a Proxy Portfolio. The goal of the Proxy Portfolio, during all market conditions, is to track closely the daily performance of the Actual Portfolio and minimize intra-day misalignment between the performance of the Proxy Portfolio and the performance of the Actual Portfolio. The Proxy Portfolio is designed to reflect the economic exposures and the risk characteristics of the Actual Portfolio on any given trading day. The Proxy Portfolio is intended to provide Authorized Participants and other market participants with enough information to support an effective arbitrage mechanism that keeps the market price of the Fund at or close to the underlying NAV per share of the Fund.

Trading Halt Risk. If securities representing 10% or more of the Fund’s Actual Portfolio do not have readily available market quotations, the Fund will promptly request that the listing exchange halt trading in the Fund’s shares which means that investors would not be able to trade their shares. Trading halts may have a greater impact on the Fund compared to other ETFs due to the Fund’s semi-transparent structure. If the trading of a security held in the Fund’s Actual Portfolio is halted, or otherwise does not have readily available market quotations, and the Adviser believes that the lack of any such readily available market quotations may affect the reliability of the Proxy Portfolio as an arbitrage vehicle, or otherwise determines it is in the best interest of the Fund, the Adviser will promptly disclose on the Fund’s website the identity and weighting of such security for so long as such security’s trading is halted or otherwise does not have readily available market quotations and remains in the Actual Portfolio.

Due to rounding, some values may not total 100%.

Risk

The ETF is newly formed and does not have any operating history. Small and medium-sized companies often have greater price volatility, lower trading volume, and less liquidity than larger, more established companies. The ETF’s value is influenced by a number of factors, including the performance of the broader market, and risks specific to the Fund’s asset classes, investment styles, and issuers. Markets may also be impacted by domestic or global events, including public health threats, terrorism, natural disasters or similar events. ESG strategies may result in investment returns that may be lower than if decisions were based solely on investment considerations. Because ESG criteria exclude certain securities/products for non-financial reasons, investors may forego some market opportunities available to those who do not use these criteria.  ETFs trade like stocks, are subject to investment risk, and will fluctuate in market value. Unlike mutual funds, ETF shares are not individually redeemable directly with the Fund, and are bought and sold on the secondary market at market price, which may be higher or lower than the ETF's net asset value (NAV). Transactions in shares of ETFs will result in brokerage commissions, which will reduce returns. The Adviser's assessment of investments and ESG considerations may prove incorrect, resulting in losses, poor performance, or failure to achieve ESG objectives. The Adviser is also subject to actual or potential conflicts of interest. These and other risks are described in the prospectus.

Strategy

The portfolio management team seeks to identify companies that have sustainable long-term business models that drive financial success and risk management. The team looks for small- to mid-sized companies that have strong growth prospects, are in an industry with a positive economic outlook, have high-quality management, and/or have a strong financial position, as well as a demonstrated commitment to ESG policies. They use fundamental, quantitative, and technical investment research techniques to determine what securities to buy and sell.

Asset Management for Financial Professionals

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