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Thrivent Exchange Traded Funds

Investing in a better tomorrow

Exchange traded funds (ETFs), like mutual funds, typically provide investors with the benefit of diversification and professional management. ETFs offer some additional benefits for investors, including four primary advantages:

  • ETFs may reduce investors' tax burden through a more efficient tax structure
  • ETFs offer increased liquidity, with the ability to trade in the ETFs throughout the day (unlike just at the close of trading like a traditional mutual fund)
  • Because of the way ETFs are structured and managed, they typically come with lower costs
  • There are no investment minimums, so anyone can own an ETF

Thrivent Small-Mid Cap Equity ETF

(TSME)

Shaping a more positive tomorrow starts today. Thrivent Small-Mid Cap Equity ETF (TSME) seeks to capitalize on stakeholder value and commitment to sustainability through investing in small- and mid-sized companies. Management analyzes how companies generate value for each of their stakeholders and combines traditional bottom-up fundamental investment research.

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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.

FUND COMMENTARY

Chad Miller talks active management process at Thrivent

Chad Miller, Senior Portfolio Manager, shares Thrivent's approach to actively managing funds.

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Thrivent Small-Mid Cap Equity ETF Investment Process
  • Thrivent Small-Mid Cap Equity ETF conducts a thorough review of three key aspects of each company included in the portfolio:
    • Stakeholder analysis is used to identify companies generating positive value for all their constituencies.
    • Sustainability Accounting Standards Board (SASB) financial materiality framework identifies sustainability issues most closely related to long-term value.
    • The management team uses fundamental analysis to identify high-quality companies trading at attractive valuations.
  • Companies that exhibit some degree of all three characteristics would be strongly considered for inclusion in the portfolio.
Stakeholder analysis & Alpha generation
  • The goal of Thrivent Small-Mid Cap Equity ETF is to generate alpha (which is the excess return above a benchmark) by investing in companies that effectively serve their primary stakeholders.
  • Companies that can effectively serve their primary stakeholders have the potential to create competitive advantages that may be very hard to replicate.
  • We seek to invest in companies that deliver positive value to all six stakeholders as shown.

Performance is influenced by several factors, including the performance of the broader market and risks to specific asset classes, market cap groups, investment styles, and issuers. Small- and mid-sized companies often have greater price volatility, lower trading volume, and less liquidity than larger, more established companies. Transactions in shares of ETFs may result in brokerage commissions, which will reduce returns. These and other risks are described in the prospectus.

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