Trading in the ETF shares has been halted. Click here for more details.
Market Cap & Style
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.
RELATED INSIGHTS
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:
- Intraday NAV ticker: TSME.IV
- CUSIP: 88588G109
- Exchange: NYSE Arca
- Schedule of Investments (PDF)
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, CFAVP, Head of Equity FundsManaging this fund since 2022Mr. Finn joined Thrivent in 2004. He is the Head of Equity Mutual Funds. Read more.
-
Chad Miller, CFASenior Portfolio ManagerManaging this fund since 2022Mr. Miller joined Thrivent in 2013 and is a Senior Portfolio Manager. Read more.
-
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 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
| Thrivent Small-Mid Cap ESG ETF | Thrivent Small-Mid Cap ESG ETF Market Price | S&P MidCap 400 ESG Index | Russell 2500 Index | Morningstar Mid-Cap Blend Avg | |
|---|---|---|---|---|---|
| 3M | 13.55% | 13.50% | 11.20% | 9.44% | 9.27% |
| YTD | 12.31% | 12.25% | 8.92% | 9.72% | 9.31% |
| Since Inception 10/5/2022 | 14.56% | 14.53% | - | - | - |
| Thrivent Small-Mid Cap ESG ETF | Thrivent Small-Mid Cap ESG ETF Market Price | S&P MidCap 400 ESG Index | Russell 2500 Index | Morningstar Mid-Cap Blend Avg | |
|---|---|---|---|---|---|
| 3M | 4.61% | 4.62% | 4.22% | 5.22% | 4.59% |
| YTD | 10.41% | 10.41% | 7.28% | 8.79% | 8.25% |
| Since Inception 10/5/2022 | 12.62% | 12.65% | - | - | - |
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
Top 10 Holdings
| Security name | % of total assets |
|---|---|
| Quanta Services, Inc. | 2.72% |
| Timken Company | 2.68% |
| Wyndham Hotels & Resorts, Inc. | 2.33% |
| Celestica, Inc. | 2.31% |
| Arch Capital Group, Ltd. | 2.29% |
| Littelfuse, Inc. | 2.25% |
| Fair Isaac Corporation | 2.15% |
| Ameriprise Financial, Inc. | 1.89% |
| Saia, Inc. | 1.88% |
| Raymond James Financial, Inc. | 1.86% |
Fund Diversification
-
Industrials23.16%Information Technology14.66%Financials13.03%Consumer Discretionary11.24%Health Care10.28%Materials8.14%Real Estate7.54%Consumer Staples5.30%Utilities2.65%Cash2.00%Energy2.00%
Equity characteristics
as of 08/31/2023P/E Ratio Return on Equity Thrivent Small-Mid Cap ESG ETF 19.37 16.86% S&P 500® Index 22.89 24.87%
Historical Premium/Discount
Number Of Days At PremiumNumber Of Days At NavNumber Of Days At Discount
Proxy Portfolio Basket
-
Download Proxy Portfolio BasketProxy Portfolio overlap % Proxy tracking error -
-
Ratings
Morningstar ratings are calculated based on risk-adjusted return.
Equity Style Map
LargeMidSmallValueBlendGrowthWeighted average of holdings75% of fund's stock holdings
Distributions
as of 08/31/2023Dividends 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 March 2023 $0.0000 $27.82 April 2023 $0.0000 $27.03 May 2023 $0.0000 $26.07 June 2023 $0.0000 $29.10 July 2023 $0.0000 $30.42 August 2023 $0.0000 $29.60 Trailing 12-Months; Dividend Schedule: Paid Annually
Capital gains - trailing 12 months
as of 08/31/2023Record 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 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%.