Thrivent Turns Mutual Funds Into Small- And Mid-Cap Value ETFs: Here's What's Inside

Benzinga_recent_news11-21

Thrivent Asset Management has officially stepped further into the ETF arena, converting two of its long-running mutual funds into exchange-traded products on Monday. That move brings the firm’s small...

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View the charts here.\nThe Thrivent Small Cap Value ETF (NYSE:TSCV) and Thrivent Mid Cap Value ETF (NYSE:TMVE) started trading on Monday after converting from mutual funds. TSCV launches with $146.74 million in assets and a 0.60% expense ratio, while TMVE comes aboard with $19.88 million under management and an expense ratio of 0.55%.\nThrivent believes the shift offers investors access to its active stock-picking approach in a more tax-efficient wrapper. Both ETFs focus on undervalued companies showing improving business fundamentals and steady or rising returns on invested capital.\nThe small-cap ETF holds 61 stocks that are largely equal-weighted. The positions include Cushman & Wakefield Plc (NYSE:CWK) at 2.8%, Plymouth Industrial REIT Inc (NYSE:PLYM) at 2.6% and UMB Financial Corp (NASDAQ:UMBF) at 2.6%. The strategy looks for companies trading at less than 70% of estimated intrinsic value. Analysts look for businesses where upside potential is two to three times downside risk.\nTMVE also employs a similar approach in the midcap arena. The portfolio consists of 81 names with M&T Bank Corp (NYSE:MTB) (2.7%), U.S. Bancorp (NYSE:USB) (2.6%) and Sysco Corp (NYSE:SYY) (2.2%) leading the list. Management focuses on companies with stable or improving return on invested capital, according to the prospectus and looks for opportunities via scenario-based valuation work.\nBoth strategies previously operated as open-end mutual funds available only to affiliated funds and carried no management fee, something that changes under the ETF structure. \nPerformance may differ going forward as a result, noted by Thrivent Mutual Funds President Mike Kremenak, who added that the firm’s long experience managing small- and mid-cap mandates now extends to its ETF shelf, offering investors more tools for building and diversifying portfolios.\nRead Next: \nPhoto: Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.9","shortVersion":"4.35.9","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2585154513","isCrawlerRequest":true}