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Market Cap & Style
This fund is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This fund will not. This may create additional risks for your investment. For example:
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- You may have to pay more money to trade the fund’s shares. This fund provides less information to traders, who tend to charge more for trades when they have less information.
- The price you pay to buy fund shares on an exchange may not match the value of the fund’s portfolio. The same is true when you sell shares. These price differences may be greater for this fund 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 fund publishes on its website each day a “Proxy Portfolio” designed to help trading in shares of the fund. While the Proxy Portfolio includes some of the fund’s holdings, it is not the fund’s actual portfolio.
The differences between this fund and other ETFs may also have advantages. By keeping certain information about the fund nontransparent, this fund may face less risk that other traders can predict or copy its investment strategy. This may improve the fund’s performance. If other traders are able to copy or predict the fund’s investment strategy, however, this may hurt the fund’s performance.
For additional information regarding the unique attributes and risks of the fund, see the Principal Risks section of the prospectus.
Thrivent Small-Mid Cap ESG ETF seeks long-term capital growth.
This fund seeks to provide investors with consistent, competitive performance through favorable stock selection while monitoring risk. The Fund typically invests in a combination of small- and mid-sized companies across the growth and value spectrums. The portfolio management team seeks to identify companies that it believes have sustainable long-term business models and a demonstrated commitment to environmental, social and corporate governance (“ESG”) policies, practices or outcomes.
Additional info:
- Intraday NAV ticker: TSME.IV
- CUSIP: 88588G109
- Exchange: NYSE Arca
- Schedule of Investments
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Fund management
Our seasoned team of more than 140 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 80% have earned the Chartered Financial Analyst designation, an advanced degree, or both.
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Matthew D. Finn, CFAVP, Head of Equity FundsManaging this fund since 2022Mr. Finn joined Thrivent in 2004. He is the Head of Equity Mutual Funds. Read more.
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Charles (Chad) Miller, CFASenior Portfolio ManagerManaging this fund since 2022Mr. Miller joined Thrivent in 2013 and is a Senior Portfolio Manager. Read more.
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Simon A. Bizien, CFASenior Portfolio ManagerManaging this fund since 2023Mr. Bizien joined Thrivent in 2022, serving as a senior portfolio manager. Read more.
Performance
Performance data cited represents past performance and past performance does not guarantee 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
| Thrivent Small-Mid Cap ESG ETF | Thrivent Small-Mid Cap ESG ETF Market Price | Russell 2500 Index | S&P MidCap 400 ESG Index | Morningstar Mid-Cap Blend Avg | |
|---|---|---|---|---|---|
| 3M | 13.02% | 13.08% | 10.44% | 9.07% | 9.18% |
| YTD | 29.79% | 29.90% | 21.12% | 20.60% | 22.89% |
| 1Y | 42.67% | 42.80% | 34.10% | 31.62% | 32.54% |
| Since Inception 10/5/2022 | 22.92% | 23.00% | - | - | - |
| Thrivent Small-Mid Cap ESG ETF | Thrivent Small-Mid Cap ESG ETF Market Price | Russell 2500 Index | S&P MidCap 400 ESG Index | Morningstar Mid-Cap Blend Avg | |
|---|---|---|---|---|---|
| 3M | 9.20% | 9.18% | 8.75% | 7.82% | 8.31% |
| YTD | 18.39% | 18.31% | 11.30% | 12.10% | 14.30% |
| 1Y | 32.21% | 32.13% | 26.17% | 25.14% | 27.57% |
| Since Inception 10/5/2022 | 19.39% | 19.38% | - | - | - |
Characteristics
Performance data cited represents past performance and past performance does not guarantee 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
Top 10 Holdings
| Security name | % of total assets |
|---|---|
| Fair Isaac Corporation | 2.44% |
| TPG, Inc. | 2.22% |
| NVR, Inc. | 2.08% |
| Banner Corporation | 1.94% |
| Labcorp Holdings, Inc. | 1.91% |
| SharkNinja, Inc. | 1.91% |
| Saia, Inc. | 1.90% |
| Raymond James Financial, Inc. | 1.89% |
| Wyndham Hotels & Resorts, Inc. | 1.88% |
| nVent Electric plc | 1.86% |
Fund Diversification
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Industrials22.76%Consumer Discretionary16.70%Information Technology16.26%Financials15.02%Health Care8.44%Materials7.02%Real Estate3.96%Utilities3.35%Consumer Staples3.02%Cash2.10%Energy1.36%
Equity characteristics
as of 11/29/2024P/E Ratio Return on Equity Thrivent Small-Mid Cap ESG ETF 25.89 15.10% S&P 500® Index 28.40 29.85%
Historical Premium/Discount
Number Of Days At PremiumNumber Of Days At NavNumber Of Days At Discount
Proxy Portfolio Basket
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Download Proxy Portfolio BasketProxy Portfolio overlap % Proxy tracking error -
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Ratings
Morningstar ratings are calculated based on risk-adjusted return.
equity style is small blendEquity Style Map
Distributions
as of 11/29/2024Dividends Month End Nav December 2023 $0.1636 $30.90 January 2024 $0.0000 $30.16 February 2024 $0.0000 $32.73 March 2024 $0.0000 $34.60 April 2024 $0.0000 $32.17 May 2024 $0.0000 $33.62 June 2024 $0.0000 $33.50 July 2024 $0.0000 $35.69 August 2024 $0.0000 $35.49 September 2024 $0.0000 $36.59 October 2024 $0.0000 $36.33 November 2024 $0.0000 $40.11 Trailing 12-Months; Dividend Schedule: Paid Annually
Capital gains - trailing 12 months
as of 11/29/2024Record 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%
Additional risk associated with this 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.
Tracking Error Risk. Although the Proxy Portfolio is designed to reflect the economic exposure and risk characteristics of the Fund’s Actual Portfolio on any given trading day, there is a risk that the performance of the Proxy Portfolio will diverge from the performance of the Actual Portfolio, potentially materially.
Due to rounding, some values may not total 100%.
