Risk Profile
The risk profile within the Thrivent products has been categorized into five levels: Conservative, Moderately Conservative, Moderate, Moderately Aggressive, and Aggressive, ranging from lower risk potential to higher risk potential. Funds on the lower risk portion of the scale (Conservative, Moderately Conservative) are expected to have a lower degree of volatility and price fluctuations while those on the higher risk portion of the scale (Aggressive, Moderately Aggressive) are expected to have a higher degree of volatility and price fluctuations.
Market Cap and Style
Shows a fund’s primary equity style (growth, value, or blend) and primary market capitalization (large, mid, or small). Growth stocks are companies whose earnings are expected to grow at an above-average rate relative to the market. Value stocks are companies that trade at a lower price compared to the market average, as measured by valuation ratios that compare the stock’s price to the company’s earnings and growth trends. Market capitalization is a measure of the size of the companies held in the fund, calculated by multiplying a company’s total outstanding shares by the stock price. Market cap ranges change as stock market valuations shift over time. In general, market cap ranges of approximately $1-5 billion represent small cap stocks, $5-15 billion represents mid cap stocks and greater than $15 billion represents large cap stocks. Funds may hold securities that fall into different market cap ranges. See the prospectus for more details.
Net Asset Value (NAV)
The NAV is the fund’s value or price per share. The NAV is calculated by dividing the market value of all the fund’s shares (minus its liabilities) by the number of issued shares.
Daily NAV Change
The daily NAV change is the difference between the fund’s current price per share and its price at the time of market close on the prior day.
Mid-point bid-ask price
The midpoint of the highest bid and lowest offer based on the Primary Exchange listing as of the time the Fund’s NAV is calculated.
Premium/Discount
The premium or discount to NAV at the end of the trading day calculated based on the mid-point bid-ask price in percentage terms.
30-day median bid-ask spread
The median value of bid-ask spread levels measured at 10 second intervals each trading day over the last 30 calendar days.
30-day average trading volume
The trading volume based upon the Consolidated Exchange trading volumes.
NAV Returns
NAV Returns are calculated on a year-to-date and since-inception basis. These returns, also known as trailing returns, illustrate fund performance over a specific time period, including capital appreciation as well as reinvested dividends and capital gains distributions.
Net Annual Fund Operating Expenses
This figure represents the total percentage of a fund’s assets used to maintain the fund, including operating expenses and management fees. It’s calculated by dividing the fund’s annual net operating expenses by the average dollar value of its assets, and includes the impact of any fee waivers or expense reimbursements that may have been in effect during the time period.
Net Asset Value (NAV)
The NAV is the fund’s value or price per share. The NAV is calculated by dividing the market value of all the fund’s shares (minus its liabilities) by the number of issued shares.
Daily NAV Change
The daily NAV change is the difference between the fund’s current price per share and its price at the time of market close on the prior day.
Mid-point bid-ask price
The midpoint of the highest bid and lowest offer based on the Primary Exchange listing as of the time the Fund’s NAV is calculated.
Premium/Discount
The premium or discount to NAV at the end of the trading day calculated based on the mid-point bid-ask price in percentage terms.
30-day median bid-ask spread
The median value of bid-ask spread levels measured at 10 second intervals each trading day over the last 30 calendar days.
30-day average trading volume
The trading volume based upon the Consolidated Exchange trading volumes.
NAV Returns
NAV Returns are calculated on a year-to-date and since-inception basis. These returns, also known as trailing returns, illustrate fund performance over a specific time period, including capital appreciation as well as reinvested dividends and capital gains distributions.
Net Annual Fund Operating Expenses
This figure represents the total percentage of a fund’s assets used to maintain the fund, including operating expenses and management fees. It’s calculated by dividing the fund’s annual net operating expenses by the average dollar value of its assets, and includes the impact of any fee waivers or expense reimbursements that may have been in effect during the time period.
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:
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.
Mr. Finn joined Thrivent in 2004. He is the Head of Equity Mutual Funds. Read more.
Mr. Miller joined Thrivent in 2013 and is a Senior Portfolio Manager. Read more.
Mr. Bizien joined Thrivent in 2022, serving as a senior portfolio manager. Read more.
Need more guidance? Ask your financial professional about Thrivent’s ETF.
Thrivent’s ETF can be purchased through online brokerage platforms.
Search for Thrivent ETF when making your selection.
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
These returns, also known as trailing returns, illustrate fund performance over a specific time period, including capital appreciation as well as reinvested dividends and capital gains distributions.
All returns greater than one year are annualized; returns for periods of less than one year are not annualized.
Annual Fund Operating Expenses
This figure represents the total percentage of a fund’s assets used to maintain the fund, including operating expenses and management fees. It does not include the impact of any fee waivers or expense reimbursements that may have been in effect during the time period. It’s calculated by dividing the fund’s annual operating expenses by the average dollar value of its assets.
Net Annual Fund Operating Expenses (if applicable)
This figure represents the total percentage of a fund’s assets used to maintain the fund, including operating expenses and management fees. It’s calculated by dividing the fund’s annual net operating expenses by the average dollar value of its assets, and includes the impact of any fee waivers or expense reimbursements that may have been in effect during the time period.
Performance shown assumes the reinvestment of all dividends and capital gains. Performance of other share classes will vary from the results shown based on differences in sales charges and expenses.
The Morningstar average represents the average total return annualized when greater than one year for all reported funds in the category. Morningstar averages do not include sales charges/fees. If included, returns would have been lower.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
S&P MidCap 400® Index represents the average performance of a group of 400 medium capitalization stocks.
Russell 2500 Index is a market-cap-weighted stock market index featuring US small-and mid-cap stocks
Performance shown assumes the reinvestment of all dividends and capital gains. Performance of other share classes will vary from the results shown based on differences in sales charges and expenses.
The Morningstar average represents the average total return annualized when greater than one year for all reported funds in the category. Morningstar averages do not include sales charges/fees. If included, returns would have been lower.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
S&P MidCap 400® Index represents the average performance of a group of 400 medium capitalization stocks.
Russell 2500 Index is a market-cap-weighted stock market index featuring US small-and mid-cap stocks
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 | 1.81% | 1.74% | 0.29% | 0.03% | 1.72% |
YTD | 17.56% | 17.55% | 10.27% | 10.92% | 13.17% |
1Y | 41.75% | 41.83% | 33.08% | 31.33% | 32.68% |
Since Inception 10/5/2022 | 18.13% | 18.15% | - | - | - |
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% | - | - | - |
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.
Total Number of Holdings
This is a tally of the number of different investment products that make up the fund’s portfolio.
Top 10 Holdings
A fund’s top 10 holdings by percentage of the total assets. This excludes derivatives and cash that a fund may hold. Holdings are subject to change without notice. (Updated monthly with 30-day lag)
Security name | % of total assets |
---|---|
Fair Isaac Corporation | 2.36% |
SharkNinja, Inc. | 2.24% |
NVR, Inc. | 2.20% |
Modine Manufacturing Company | 1.93% |
Insight Enterprises, Inc. | 1.90% |
Tractor Supply Company | 1.90% |
Patrick Industries, Inc. | 1.89% |
TPG, Inc. | 1.88% |
Labcorp Holdings, Inc. | 1.86% |
Bio-Techne Corporation | 1.84% |
Fund Diversification
The market sector breakdown by percentage that makes up a fund’s portfolio. (Updated quarterly)
Equity Characteristics
Statistics shown below are compared to the S&P 500® Index. The benchmark is intended to provide a comparison to the broad U.S. large cap stock market, and may not be representative of a fund's investment strategies and holdings.
Any indexes shown are unmanaged and do not reflect the typical costs of investing. Investors cannot invest directly in an index.
The S&P 500® Index is a market-cap weighted index that represents the average performance of a group of 500 large-capitalization stocks.
P/E Ratio | Return on Equity | |
---|---|---|
Thrivent Small-Mid Cap ESG ETF | 23.59 | 15.28% |
S&P 500® Index | 27.42 | 30.08% |
Historical Premium/Discount
A fund’s shares are bought and sold on the secondary market at current market price. Premium/discount represents the difference between the market price (midpoint between the highest bid and lowest offer on the primary listing) and the net asset value (“NAV”) of a fund’s shares determined as of the close of the NYSE. Premium or discount will fluctuate regularly based on the supply of, and demand for, shares of a fund. Shareholders may pay more than NAV when they buy shares of a fund and receive less than NAV when they sell shares.
Proxy Portfolio Basket
The "Proxy Portfolio" is a basket of cash and securities that is designed to closely track the daily performance of a Fund's Actual Portfolio. The Proxy Portfolio may include securities that are not included in the Actual Portfolio and/or may include weightings different from the weightings in the Actual Portfolio.
Proxy Portfolio overlap %
The percentage weight overlap between the holdings of the prior trading day Proxy Portfolio compared to the Actual Portfolio holdings used for prior trading day NAV.
Proxy tracking error
The standard deviation over the past three months between the Proxy Portfolio and the Actual Portfolio difference in NAV at the end of the trading day in percentage terms.
Proxy Portfolio overlap % | Proxy tracking error | |
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- |
© 2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
A high rating does not necessarily imply that a fund had the best total performance or that the fund achieved positive results for that period. Morningstar rating is for the named share class only; other classes may have difference performance characteristics. Please see the Performance section for results as of the most recent month- and quarter-end.
Overall Risk vs Category
An assessment of the variations in a fund's monthly returns in comparison to similar funds, with an emphasis on downward variation. The greater the variation, the larger the risk score. If two funds have the exact same return, the one with greater variations in its return is given the larger risk score. In each Morningstar Category, the 10% of funds with the lowest measured risk are described as Low Risk, the next 22.5% Below Average, the middle 35% Average, the next 22.5% Above Average, and the top 10% High. Morningstar Risk is measured for up to three time periods (three-, five-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for the fund. The score shown is the overall measure. Funds with less than three years of performance history are not rated.
Overall Return vs Category
An assessment of a fund's excess return over a risk-free rate (the return of the 90-day Treasury bill) in comparison to similar funds, with an emphasis on downward variation. Therefore, if two funds have precisely the same return, the one with greater variations in its return is given the lower return score. In each Morningstar Category, the top 10% of funds earn a High Morningstar Return, the next 22.5% Above Average, the middle 35% Average, the next 22.5% Below Average, and the bottom 10% Low. Morningstar Return is measured for up to three time periods (three-, five-, and 10-years). These separate measures are then weighted and averaged to produce an overall measure for a fund. The score shown is the overall measure. Funds with less than three years of performance history are not rated.
Morningstar ratings are calculated based on risk-adjusted return.
Thrivent Small-Mid Cap ESG ETF appeared as a small market-cap style, blend investment style fund on the Morningstar Style Box™ as of 08/31/2024.
The Morningstar Style Box™ reveals a fund’s investment strategy. For equity funds, the vertical axis of the Equity Style Map shows the market capitalization of the stocks owned (large, medium, or small) and the horizontal axis shows investment style (value, blend, or growth).
Dividends | Month End Nav | |
---|---|---|
November 2023 | $0.0000 | $28.26 |
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 |
Trailing 12-Months; Dividend Schedule: Paid Annually
A capital gain is a profit that a fund realizes by selling securities for a price higher than at which they were purchased.
Short-Term Capital Gain Distributions
Capital gains paid on assets held by a fund for one year or less.
Long-Term Capital Gain Distributions
Capital gains paid on assets held by a fund for more than one year.
Record date | Short term capital gains | Long term capital gains | Total |
---|---|---|---|
- | - | - | - |
Management Fees and Other Expenses
This figure represents the total percentage of a fund's assets paid to the investment adviser for portfolio management and investment services (the "management fee"), "Acquired Fund Fees and Expenses" (if a fund invests in other funds or investments with management fees), plus "Other Expenses" such as custodial, transfer agency, legal, accounting and administrative fees that are required to operate a fund. Shareholders may also pay other fees such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table. For more information, please see the prospectus or Statement of Additional Information.
Total Annual Fund Operating Expenses
This figure represents the total percentage of a fund’s assets used to maintain a fund, including operating expenses and management fees. It does not include the impact of any fee waivers or expense reimbursements that may have been in effect during the time period. It’s calculated by dividing a fund’s annual operating expenses by the average dollar value of its assets.
Less Waiver (May not apply. See prospectus for more details)
Certain funds may be subject to an expense waiver, or the amount the fund's Adviser waives or assumes to keep a fund's expenses low.
Net Annual Fund Operating Expenses
This figure represents the total percentage of a fund’s assets used to maintain the fund, including operating expenses and management fees. It’s calculated by dividing the fund’s annual net operating expenses by the average dollar value of its assets, and includes the impact of any fee waivers or expense reimbursements that may have been in effect during the time period.
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%.