Thrivent Small-Mid Cap ESG ETF(AMEX:TSME)

TSME provides targeted exposure to global mid- and small-cap companies that exhibit ESG characteristics. Eligible firms must have market capitalizations that are within the range of companies included in widely known mid- and small-cap indices, such as the Russell 2500 Index, S&P MidCap 400 Index, and S&P SmallCap 600 Index. To construct the portfolio, the adviser uses fundamental, quantitative, and technical investment techniques designed to identify firms that have sustainable long-term business models. Each companys commitment to ESG policies and practices is then assessed using various indicators, scores, and other metrics provided by third-party data sources or the advisers own analysis. Companies that are rated CCC by MSCI ESG Research are excluded. The non-transparent fund does not provide daily disclosure of its portfolio. As such, there is a risk that shares of the fund may trade at wider spreads than other ETFs that disclose holdings daily, especially during periods of volatility.