Thrivent Transforms Mutual Funds into Small- and Mid-Cap Value ETFs: Details Revealed
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 20 2025
0mins
Source: Benzinga
Thrivent's ETF Launch: Thrivent Asset Management has converted two mutual funds into exchange-traded funds (ETFs), the Thrivent Small Cap Value ETF (TSCV) and Thrivent Mid Cap Value ETF (TMVE), to enhance investor access to its active stock-picking strategies.
Fund Details: TSCV starts with $146.74 million in assets and a 0.60% expense ratio, while TMVE has $19.88 million and a 0.55% expense ratio, focusing on undervalued companies with improving fundamentals.
Portfolio Composition: The small-cap ETF holds 61 stocks, including Cushman & Wakefield and Plymouth Industrial REIT, while the mid-cap ETF consists of 81 stocks, featuring M&T Bank and Sysco Corp, both employing a strategy of seeking companies with stable or improving returns.
Management Fee Changes: The transition from mutual funds to ETFs introduces management fees, which were previously absent, and may affect performance, as noted by Thrivent Mutual Funds President Mike Kremenak.
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Analyst Views on MTB
Wall Street analysts forecast MTB stock price to rise
13 Analyst Rating
4 Buy
9 Hold
0 Sell
Moderate Buy
Current: 219.040
Low
210.00
Averages
229.25
High
251.00
Current: 219.040
Low
210.00
Averages
229.25
High
251.00
About MTB
M&T Bank Corporation is a financial holding company. The Company’s principal banking subsidiary, M&T Bank, provides banking products and services with a branch and ATM network spanning the eastern United States from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the United States and abroad by its Wilmington Trust-affiliated companies and by M&T Bank. Its segments include Commercial Bank, Retail Bank and Institutional Services and Wealth Management. The Commercial Bank segment provides a range of credit products and banking services to middle-market and large commercial customers, mainly within the markets served by the Company. The Retail Bank segment provides a wide range of services to consumers and small businesses through the Company’s branch network and several other delivery channels. The Institutional Services and Wealth Management segment provides a variety of trustee, agency, investment management and administrative services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Complex Financing Structure: The project employs a complex financing structure that integrates historic tax credits and multiple layers of financing, ensuring smooth project progression and maximizing the value of Maine's unique historic tax credit program for long-term financial stability.
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See More
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- Market Flexibility: The new authorization allows M&T to repurchase shares either on the open market or through privately negotiated transactions, with the exact number, timing, and pricing at the company's discretion, providing a flexible capital management strategy.
- Regulatory Compliance: All repurchase activities will adhere to applicable regulatory limitations, ensuring that the company remains compliant with relevant laws and regulations while minimizing potential legal risks during the execution of the buyback plan.
- Strategic Implications: By implementing this substantial repurchase program, M&T Bank aims to enhance earnings per share and bolster investor confidence, further solidifying its position in the financial market, which is expected to have a positive impact on its stock price.
See More
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See More
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- Impact on Shareholders: This initiative is expected to enhance shareholder value by allowing the bank to buy back its own shares from the market.
See More
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- Financing Agreement Signed: M&T Bank has signed a financing agreement with the Portland Housing Development Corporation to restore and renovate Sagamore Village, a 200-unit affordable housing project, showcasing an innovative public-private financing model.
- Historic Preservation and Community Services: The project will remove hazardous materials, improve indoor air quality, and update non-compliant mechanical, electrical, and plumbing systems while renovating the community center to enhance resident services and improve community living standards.
- Complex Financing Structure: The project employs a complex financing structure that integrates historic tax credits and multiple layers of financing, ensuring smooth project progression and maximizing the value of Maine's unique historic tax credit program for long-term financial stability.
- Long-term Affordability Assurance: M&T Bank also arranged a forward committed Freddie Mac Tax-exempt Loan to serve as permanent financing post-construction, ensuring long-term affordability for Sagamore Village and ongoing improvements in resident services.
See More
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- Buyback Program Authorization: M&T Bank's board has authorized a share repurchase program of up to $5 billion, replacing the previous $4 billion buyback approved in January 2025, reflecting the company's confidence in its stock value.
- Flexibility in Repurchases: The new buyback authorization allows the company to determine the timing, number of shares repurchased, and transaction terms at its discretion, enhancing its capital management flexibility under regulatory limits.
- Positive Market Reaction: The announcement of this buyback program is likely to boost investor confidence, expected to have a positive impact on the stock price and further solidify M&T Bank's defensive holding position in an uncertain market.
- Future Outlook: M&T Bank has set a net interest income target of $7.2 billion to $7.35 billion for 2026, indicating a broad focus on loan growth, which is anticipated to support future financial performance.
See More
M&T Bank Authorizes $5 Billion Share Repurchase Program
- Repurchase Program Update: M&T Bank's Board of Directors has authorized a new share repurchase program allowing for the buyback of up to $5 billion in common stock, which not only replaces the previous $4 billion program from January 2025 but also demonstrates the company's confidence in its stock value.
- Market Flexibility: The new repurchase program permits M&T to buy back shares either on the open market or through privately negotiated transactions, with the exact number of shares, timing, and pricing left to the company's discretion, enabling it to capitalize on market fluctuations effectively.
- Enhancing Shareholder Value: By implementing this repurchase program, M&T aims to increase earnings per share by reducing the number of shares outstanding, thereby enhancing returns for shareholders and reflecting the company's positive outlook on future profitability.
- Regulatory Compliance: The repurchase program will adhere to all applicable regulatory limitations, ensuring that the company remains compliant with relevant laws and regulations during the buyback process, which further strengthens investor confidence in the company's governance.
See More
M&T Bank Authorizes $5 Billion Share Repurchase Program
- Repurchase Program Update: M&T Bank's Board of Directors has authorized a new share repurchase program allowing for the buyback of up to $5 billion in common stock, replacing the previous $4 billion program from January 2025, reflecting the company's confidence in its stock value.
- Market Flexibility: The new authorization allows M&T to repurchase shares either on the open market or through privately negotiated transactions, with the exact number, timing, and pricing at the company's discretion, providing a flexible capital management strategy.
- Regulatory Compliance: All repurchase activities will adhere to applicable regulatory limitations, ensuring that the company remains compliant with relevant laws and regulations while minimizing potential legal risks during the execution of the buyback plan.
- Strategic Implications: By implementing this substantial repurchase program, M&T Bank aims to enhance earnings per share and bolster investor confidence, further solidifying its position in the financial market, which is expected to have a positive impact on its stock price.
See More
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- M&T Bank Corp Announcement: M&T Bank Corp has announced the replacement of its previous $4.0 billion repurchase program.
- Effective Date: The new repurchase program will take effect on March 30, 2026.
See More
M&T Bank Corp Approves Share Buyback Program of Up to $5.0 Billion
- Share Repurchase Program: M&T Bank Corp has authorized a share repurchase program valued at up to $5.0 billion.
- Impact on Shareholders: This initiative is expected to enhance shareholder value by allowing the bank to buy back its own shares from the market.
See More
