AAUM vs. IAK
AAUM (Tema Alternative Asset Managers ETF) and IAK (iShares U.S. Insurance ETF) are both Financials Equities funds. AAUM is actively managed, while IAK is passively managed. At a 0.20 correlation, their price movements are largely independent. AAUM charges 0.75%/yr vs 0.38%/yr for IAK.
Performance
AAUM vs. IAK - Performance Comparison
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Returns By Period
In the year-to-date period, AAUM achieves a -18.14% return, which is significantly lower than IAK's 10.14% return.
AAUM
- 1D
- 1.47%
- 1M
- -4.42%
- 6M
- -18.14%
- YTD
- -18.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAK
- 1D
- 2.55%
- 1M
- 15.40%
- 6M
- 11.05%
- YTD
- 10.14%
- 1Y
- 13.96%
- 3Y*
- 21.12%
- 5Y*
- 15.73%
- 10Y*
- 13.51%
AAUM vs. IAK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AAUM Tema Alternative Asset Managers ETF | -18.14% | 0.10% |
IAK iShares U.S. Insurance ETF | 10.14% | 2.07% |
Correlation
The correlation between AAUM and IAK is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025 | 0.20 |
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Return for Risk
AAUM vs. IAK — Risk / Return Rank
AAUM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IAK
AAUM vs. IAK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema Alternative Asset Managers ETF (AAUM) and iShares U.S. Insurance ETF (IAK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AAUM | IAK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.03 | — |
| Martin ratioReturn relative to average drawdown | — | 4.76 | — |
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Drawdowns
AAUM vs. IAK - Drawdown Comparison
The maximum AAUM drawdown since its inception was -28.24%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for AAUM and IAK.
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Drawdown Indicators
| AAUM | IAK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.24% | -77.38% | +49.14% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.62% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.95% | — |
Current DrawdownCurrent decline from peak | -22.65% | 0.00% | -22.65% |
Average DrawdownAverage peak-to-trough decline | -13.01% | -16.07% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.24% | — |
Volatility
AAUM vs. IAK - Volatility Comparison
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Volatility by Period
| AAUM | IAK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.15% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.52% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.68% | 15.57% | +12.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.68% | 18.13% | +9.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.68% | 20.84% | +6.84% |
AAUM vs. IAK - Expense Ratio Comparison
AAUM has a 0.75% expense ratio, which is higher than IAK's 0.38% expense ratio.
Dividends
AAUM vs. IAK - Dividend Comparison
AAUM's dividend yield for the trailing twelve months is around 0.92%, less than IAK's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAUM Tema Alternative Asset Managers ETF | 0.92% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IAK iShares U.S. Insurance ETF | 2.42% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
Frequently Asked Questions
AAUM and IAK have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAK is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAK is cheaper with a 0.38% expense ratio, compared with 0.75% for AAUM.
IAK has the higher dividend yield at 2.42%, compared with 0.92% for AAUM.
They also come from different issuers: Tema ETFs and iShares. Their fees differ too: 0.75% for AAUM and 0.38% for IAK.
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