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FUND COMMENTARY

Chad Miller on ‘What’s the Fund?’

By Chad Miller, CFA, Senior Portfolio Manager | 06/25/2024

06/25/2024

 

Portfolio Manager, Chad Miller, was featured on the New York Stock Exchange “What’s the Fund?” segment with Judy Shaw.

Chad Miller, CFA
Senior Portfolio Manager
Video transcript

Shaw: Joining me on What’s the Fund is Chad Miller. He's a portfolio manager at Thrivent Asset Management. Chad, wonderful to have you here. Thanks for joining me.

Miller: Thank you for having me.

Shaw: So, tell me, what's the fund you're talking about?

Miller: It's Thrivent Small & Mid Cap ESG ETF, and the ticker is TSME.

Shaw: Tell me about this fund. What's the strategy?

Miller: At Thrivent, we have a deep and experienced research team following the small- and mid-cap space. This team is developing unique and proprietary insights on a daily basis that has led to the strong performance of our Thrivent funds in the marketplace today, and in 2022, we saw an opportunity to launch a Thrivent small- and mid-cap ETF in order to leverage the best ideas of this team into a single product.

So, we start with our successful fundamental research process that we utilize across Thrivent. And for this product, we layer in our focus on stakeholder value. So, we're trying to find those companies who can create value for their customers, their employees; they can be good stewards in the community and working with their suppliers; they're considering their environmental risks and opportunities; and they're supplementing all of this with effective corporate governance.

And what we have found is that those companies who can create value for their primary stakeholders form a type of competitive advantage that is very difficult to replicate and it positions them very well to generate strong long-term returns for shareholders.

Shaw: Alright. Now, tell our viewers where can they go to learn more about this fund.

Miller: Yeah. The website is thriventetfs.com.

Shaw: Great to have you on What's the Fund, Chad.

Miller: Thank you.

This fund 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.
Mr. Miller is discussing the asset classes and portfolios he manages. The views expressed as of May 21, 2024, may change as market or other conditions change, and may differ from views expressed by other Thrivent Asset Management, LLC associates. Actual investment decisions made by Thrivent Asset Management, LLC will not necessarily reflect the views expressed. The commentary should not be considered as investment advice or a recommendation of any particular security, strategy, or product. The concepts in this presentation are intended for educational purposes only. They may not be suitable for your particular situation. The suitability of a specific product or strategy will be dependent upon your particular situation.

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