/C O R R E C T I O N -- Thrivent/

In the news release, Thrivent Expands ETF Product Suite with Mid Cap Value and Small Cap Value Fund Conversions, issued 17-Nov-2025 by Thrivent over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

Thrivent Expands ETF Product Suite with Mid Cap Value and Small Cap Value Fund Conversions

The new ETFs complement Thrivent's strong investment solutions and deliver value to clients.

MINNEAPOLIS, Nov. 17, 2025 /PRNewswire/ -- Thrivent, a Fortune 500 financial services company that helps build, grow and protect financial well-being, today announced the conversion of Thrivent Mid Cap Value Fund and Thrivent Core Small Cap Value Fund into exchange-traded funds (ETFs) – demonstrating the company's commitment to delivering competitive, client-focused investment solutions.

"The ETF market is experiencing rapid growth and significant client interest, and today's conversions underscore Thrivent's work to give clients more flexibility and choice to help them achieve their financial goals," said Thrivent Mutual Funds President Mike Kremenak. "Thrivent has years of expertise in small- and mid-cap strategies and active management that we'll bring to these new ETFs—giving investors another way to diversify and build strong portfolios." 

The new ETFs will be managed by leaders who collectively bring decades of investment expertise:

• Graham Wong, CFA, and Nicholas Griffith, CFA, will serve as portfolio managers for Thrivent Mid Cap Value ETF. The investment objective of the fund is to seek long-term capital growth.
• Christopher Parker, CFA, and Charmaine Chan, CFA will serve as portfolio managers for Thrivent Small Cap Value ETF. The investment objective of the fund is to seek long-term capital growth.

Thrivent's ETF Performance, Approach & Management
With these additions, Thrivent's ETF suite now includes five funds:

• Thrivent Mid Cap Value ETF (TMVE) – New
• Thrivent Small Cap Value ETF (TSCV) – New
• Thrivent Small-Mid Cap Equity ETF (TSME) – Launched in 2022
• Thrivent Ultra Short Bond ETF (TUSB)  – Launched in 2025
• Thrivent Core Plus Bond ETF (TCPB) – Launched in 2025

Thrivent's suite of ETFs continues to demonstrate strong momentum and strategic alignment with investor needs. Since its launch in 2022, Thrivent Small-Mid Cap Equity ETF (TSME) has consistently outperformed its category, delivering a three-year annualized return of over 16%* and attracting more than $600 million in assets (as of 10/31/25). The recently launched Thrivent Core Plus Bond ETF (TCPB) and Thrivent Ultra Short Bond ETF (TUSB) have gained early traction, with combined assets of nearly $440 million (as of 10/31/25). TCPB has delivered steady income in a volatile rate environment, while TUSB offered attractive yield and capital preservation for short-duration investors. Together, these ETFs now exceed $1 billion in AUM (as of 10/31/2025) and reflect Thrivent's commitment to delivering actively managed investment solutions.

Thrivent's continued expansion into ETFs aligns with industry trends and the company's long-term investment philosophy and active management approach. The new ETFs are designed to serve as core building blocks in client portfolios, supported by the expertise of Thrivent's portfolio management team.

Thrivent's Investment Product Portfolio
With these additions, Thrivent's investment product portfolio consists of 21 mutual funds, 30 variable portfolios and 5 ETFs. These investment products are designed to work together, giving investors a range of options that can be combined to build a well-rounded investment portfolio.

• Helping clients achieve financial goals: Thrivent helps investors reach their financial goals, such as savings for retirement, growing wealth or managing risk.
• Flexibility and choice: Investors can select from different types of funds and strategies, tailoring their investments to their personal needs and preferences.
• Access to active management expertise: Investors may benefit from Thrivent's team of professionals who actively manage these funds, making decisions to try to maximize returns and manage risk across each investment.

To learn more about Thrivent's ETFs, click here.

About Thrivent
Thrivent is a Fortune 500 financial services company that helps build, grow and protect financial well-being through purpose-driven advice, investments, insurance, banking and generosity programs. Thrivent serves more than 2.4 million clients through thousands of financial advisors across the country and has more than $194 billion in assets under management/advisement (as of 12/31/24). Thrivent carries strong financial ratings from independent rating agencies – including AM Best, Moody's and S&P Global Ratings – which demonstrate the company's financial strength, stability and ability to pay claims. Ratings don't apply to investment product performance and more information can be found on each rating agency's website.

For more information about Thrivent, visit Thrivent.com or find us on Facebook, Instagram and LinkedIn.

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Media Contact:
Patrice Smith
[email protected]
[email protected]
(202) 718-5069

*As of September 30, 2025, Thrivent Small-Mid Cap Equity ETF reported a one-year return of 13.88% and a since-inception return of 17.52%. The Fund's gross expense ratio is 0.65%.

All data represents past performance. Past performance does not guarantee future results. The 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. Call 800-847-4836 or visit thriventETFs.com for performance results current to the most recent month-end.

Investing involves risks, including the possible loss of principal. The prospectus and summary prospectus contain more complete information on the investment objectives, risks, charges and expenses of the fund, and other information, which investors should read and consider carefully before investing. Prospectuses and summary prospectuses are available at thriventETFs.com or by calling 800-847-4836.

Prior to close of business on 11/14/2025, Thrivent Mid Cap Value ETF & Thrivent Small Cap Value ETF operated as open-end mutual funds with the same investment objective, strategy, and investment adviser. The mutual funds' inception date was 02/28/2020 and 03/31/2022, respectfully.

ALPS Distributors, Inc., member FINRA, is the distributor for Thrivent ETFs. Thrivent Distributors, LLC is the marketing agent and asset management services are provided by Thrivent Asset Management, LLC, an SEC-registered investment adviser. Thrivent Distributors, LLC and Thrivent Asset Management, LLC are subsidiaries of Thrivent, the marketing name for Thrivent Financial for Lutherans. ALPS Distributors, Inc. is not affiliated with Thrivent or any of its subsidiaries.

Correction: The Thrivent Small-Mid Cap Equity ETF ticker was changed from "TMSE" to "TSME" in the Thrivent's ETF Performance, Approach & Management section.

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SOURCE Thrivent