TMVEvsPAPIETF Comparison
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Thrivent Mid Cap Value ETF (TMVE) belongs to the US Mid Cap Value segment. Parametric Equity Premium Income ETF (PAPI) is part of the Options Strategies segment. TMVE's top 3 sector exposures are Finance, Industrials and Technology. In contrast, PAPI's top sector exposures are Technology, Non-Energy Materials and Healthcare. TMVE is more expensive with a Total Expense Ratio (TER) of 0.55%, versus 0.29% for PAPI. TMVE is up 17.69% year-to-date (YTD) with -$29M in YTD flows. PAPI performs worse with 12.33% YTD performance, and +$196M in YTD flows. Run a side-by-side ETF comparison of TMVE and PAPI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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TMVE vs PAPI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMVE PAPI | -1.66%+0.19% | +2.83%+6.25% | +17.69%+12.33% | n/a+13.85% | n/an/a | n/an/a |
| Flows | TMVE PAPI | +$254K+$43M | -$29M+$81M | -$29M+$196M | -+$221M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMVE PAPI | +9.95%+9.35% | n/a+9.86% | n/an/a | n/an/a |
| Max drawdown | TMVE PAPI | -3.47%-2.00% | n/a-6.88% | n/an/a | n/an/a |
| Max drawdown duration | TMVE PAPI | 23d11d | n/a135d | n/an/a | n/an/a |
Trading data
TMVE | PAPI | |
Last sale 9/9/2026 at 1:30 PM | $17.67 | $27.38 |
| Previous close 09/08/2026 | $17.80 | $27.61 |
| Consolidated volume 09/08/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/9/2026 at 1:30 PM
Live
Closed
TMVE | PAPI | |
|---|---|---|
| Last price | $17.67 | $27.38 |
| 1D performance | -0.72% | -0.83% |
| AuM | $293.20 M | $486.26 M |
| E/R | 0.55% | 0.29% |
Characteristics
TMVE | PAPI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Thrivent Asset Management | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 83 | 189 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 17, 2025 | October 19, 2023 |
| ESG | No | No |
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Exposure
Countries
TMVE
USA
89.02%
Other
10.98%
PAPI
USA
94.78%
Other
5.22%
Sectors
TMVE
Finance
23.79%
Industrials
16.37%
Technology
10.44%
Non-Energy Materi.
8.92%
Healthcare
8%
Utilities
7.84%
Other
24.63%
PAPI
Technology
12.39%
Non-Energy Materi.
11.24%
Healthcare
10.69%
Consumer Non-Cycl.
10.45%
Finance
10.38%
Energy
10.23%
Other
34.62%
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Diversification
TMVE
Total weight of top 15 holdings out of 15
27.75%
PAPI
Total weight of top 15 holdings out of 15
10.02%
Top 15 holdings
Data as of July 31, 2026
TMVE
M&T Bank Corp.
2.28%
U.S. Bancorp
2.12%
Crown Holdings, Inc.
2.03%
Intercontinental Exchange, Inc.
2.03%
American International Group, Inc.
1.93%
General Dynamics Corp.
1.93%
PPG Industries, Inc.
1.91%
Capital One Financial Corp.
1.86%
Labcorp Holdings, Inc.
1.86%
Simmons First National Corp.
1.82%
Thermo Fisher Scientific, Inc.
1.63%
Levi Strauss & Co.
1.62%
Sysco Corp.
1.62%
AvalonBay Communities, Inc.
1.56%
Yum China Holdings, Inc.
1.54%
PAPI
Morgan Stanley Instl. Liquidity Funds - Government Portfolio
1.26%
HF Sinclair Corp.
0.65%
Valero Energy Corp.
0.64%
International Seaways, Inc.
0.64%
Cisco Systems, Inc.
0.63%
TD SYNNEX Corp.
0.63%
Dolby Laboratories, Inc.
0.63%
Millicom International Cellular SA
0.62%
Cognizant Technology Solutions Corp.
0.62%
Microsoft Corp.
0.62%
Garmin Ltd.
0.62%
Royalty Pharma Plc
0.62%
Interparfums, Inc.
0.61%
ManpowerGroup, Inc.
0.61%
MSC Industrial Direct Co., Inc.
0.60%
Frequently asked questions about TMVE and PAPI
How have the TMVE and PAPI ETFs performed in 2026?
As of September 8, 2026, TMVE is up 17.69% year-to-date (YTD), while PAPI has returned 12.33%. That puts TMVE better performer ahead so far this year.
Which ETF is attracting more investor money: TMVE or PAPI?
Year-to-date, the TMVE ETF saw -$29M in flows, compared to +$196M for PAPI.
Which ETF is bigger: TMVE or PAPI?
As of September 8, 2026, TMVE holds $293.20 M in assets under management (AUM), while PAPI manages $486.26 M.
What sectors do the TMVE and PAPI ETFs invest in?
TMVE leans toward sectors like Finance, Industrials and Technology. Meanwhile, PAPI focuses on Technology, Non-Energy Materials and Healthcare.
What are the top holdings of the TMVE ETF and PAPI ETF?
TMVE top holdings include M&T Bank Corp., U.S. Bancorp and Crown Holdings, Inc.. PAPI holds in its top three: Morgan Stanley Instl. Liquidity Funds - Government Portfolio, HF Sinclair Corp. and Valero Energy Corp..
Which ETF is more diversified: TMVE or PAPI?
TMVE holds 83 securities with 27.75% of its assets in the top 15. PAPI has 189 securities and a top 15 weight of 10.02%.
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Latest news about TMVE & PAPI
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