TSMEvsMSSMETF Comparison
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Thrivent Small-Mid Cap Equity ETF (TSME) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. TSME's top 3 sector exposures are Technology, Industrials and Non-Energy Materials. In contrast, MSSM's top sector exposures are Technology, Finance and Industrials. TSME is less expensive with a Total Expense Ratio (TER) of 0.65%, versus 0.89% for MSSM. TSME is up 15.83% year-to-date (YTD) with -$5M in YTD flows. MSSM performs better with 17.36% YTD performance, and -$85M in YTD flows. Run a side-by-side ETF comparison of TSME and MSSM 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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TSME vs MSSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TSME MSSM | -4.78%-1.59% | +2.44%+4.04% | +15.83%+17.36% | +25.36%+27.27% | +62.42%n/a | n/an/a |
| Flows | TSME MSSM | +$25M-$21M | -$32M-$44M | -$5M-$85M | +$294M-$85M | +$572M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TSME MSSM | +25.03%+17.68% | +22.45%+17.75% | +21.94%n/a | n/an/a |
| Max drawdown | TSME MSSM | -8.47%-4.27% | -14.69%-9.62% | -26.79%n/a | n/an/a |
| Max drawdown duration | TSME MSSM | 24d19d | 54d46d | 255dn/a | n/an/a |
Trading data
TSME | MSSM | |
Last sale 7/27/2026 at 1:30 PM | $48.45 | $59.72 |
| Previous close 07/24/2026 | $48.18 | $59.32 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/27/2026 at 1:30 PM
Live
Closed
TSME | MSSM | |
|---|---|---|
| Last price | $48.45 | $59.72 |
| 1D performance | +0.56% | +0.67% |
| AuM | $960.02 M | $708.94 M |
| E/R | 0.65% | 0.89% |
Characteristics
TSME | MSSM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Thrivent Asset Management | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 68 | 2191 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 5, 2022 | December 9, 2024 |
| ESG | No | No |
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Exposure
Countries
TSME
USA
90.75%
Other
9.25%
MSSM
USA
89.57%
Other
10.43%
Sectors
TSME
Technology
25.16%
Industrials
24.39%
Non-Energy Materi.
10.06%
Finance
9.26%
Healthcare
9.23%
Consumer Non-Cycl.
8.25%
Other
13.65%
MSSM
Technology
18.78%
Finance
17.88%
Industrials
16.41%
Healthcare
13.7%
Other
33.23%
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Diversification
TSME
Total weight of top 15 holdings out of 15
36.44%
MSSM
Total weight of top 15 holdings out of 15
11.09%
Top 15 holdings
Data as of June 30, 2026
TSME
Enova International, Inc.
3.14%
Bel Fuse, Inc.
3.13%
SharkNinja, Inc.
2.97%
Modine Manufacturing Co.
2.60%
Littelfuse, Inc.
2.58%
CECO Environmental Corp.
2.57%
LSI Industries, Inc.
2.56%
Element Solutions, Inc.
2.29%
Viking Holdings Ltd. (Bermuda)
2.27%
Coherent Corp.
2.20%
Limbach Holdings, Inc.
2.11%
Turning Point Brands, Inc.
2.07%
Ryder System, Inc.
2.05%
Penguin Solutions, Inc.
1.94%
FTAI Aviation Ltd.
1.94%
MSSM
Sandisk Corp.
1.62%
FTAI Aviation Ltd.
1.00%
Ascendis Pharma A/S
0.95%
Veeco Instruments, Inc.
0.84%
ViaSat, Inc.
0.84%
TechnipFMC plc
0.80%
Plexus Corp.
0.62%
Regal Rexnord Corp.
0.62%
KBR, Inc.
0.60%
Rambus, Inc.
0.55%
MKS, Inc.
0.55%
Ciena Corp.
0.55%
Coherent Corp.
0.54%
Dynatrace, Inc.
0.53%
Bloom Energy Corp.
0.49%
Frequently asked questions about TSME and MSSM
How have the TSME and MSSM ETFs performed in 2026?
As of July 24, 2026, TSME is up 15.83% year-to-date (YTD), while MSSM has returned 17.36%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: TSME or MSSM?
Year-to-date, the TSME ETF saw -$5M in flows, compared to -$85M for MSSM.
Which ETF is more volatile: TSME or MSSM?
Over the past year, TSME had a volatility of 22.45%, while MSSM experienced 17.75%.
Which ETF is bigger: TSME or MSSM?
As of July 24, 2026, TSME holds $960.02 M in assets under management (AUM), while MSSM manages $708.94 M.
What sectors do the TSME and MSSM ETFs invest in?
TSME leans toward sectors like Technology, Industrials and Non-Energy Materials. Meanwhile, MSSM focuses on Technology, Finance and Industrials.
What are the top holdings of the TSME ETF and MSSM ETF?
TSME top holdings include Enova International, Inc., Bel Fuse, Inc. and SharkNinja, Inc.. MSSM holds in its top three: Sandisk Corp., FTAI Aviation Ltd. and Ascendis Pharma A/S.
Which ETF is more diversified: TSME or MSSM?
TSME holds 68 securities with 36.44% of its assets in the top 15. MSSM has 2215 securities and a top 15 weight of 11.09%.
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Latest news about TSME & MSSM
What's the Fund | Thrivent Small-Mid Cap Equity ETF (Ticker: TSME)
March 6, 2026
TSME
Putting The Pieces Together of a Small-Mid Cap ESG ETF
October 5, 2023
TSME
Exploring Actively Managed ETFs and Thrivent's SMID Cap Strategy
May 19, 2023
TSME
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Understanding US Multi-Factor Investing
May 9, 2023
TSME
Understanding US Multi-Factor Investing
May 9, 2023
TSME
Chad Miller on Thrivent's Small Mid Cap ESG ETF (TSME)
April 25, 2023
TSME
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