AAUM vs. IAK

Last updated Jun 4, 2026

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 0.23 correlation, their price movements are largely independent. AAUM charges 0.75%/yr vs 0.43%/yr for IAK.

Performance

AAUM vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Alternative Asset Managers ETF (AAUM) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAUM achieves a -18.98% return, which is significantly lower than IAK's -4.56% return.

AAUM

• 1D: -5.40%
• 1M: -6.59%
• YTD: -18.98%
• 6M: -14.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAK

• 1D: -0.88%
• 1M: -2.27%
• YTD: -4.56%
• 6M: -1.81%
• 1Y: -4.16%
• 3Y*: 16.73%
• 5Y*: 11.50%
• 10Y*: 11.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAUM vs. IAK - Yearly Performance Comparison

	2026 (YTD)	2025
AAUM Tema Alternative Asset Managers ETF	-18.98%	1.19%
IAK iShares U.S. Insurance ETF	-4.56%	2.62%

Correlation

The correlation between AAUM and IAK is 0.23, 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 2, 2025	0.23

Return for Risk

AAUM vs. IAK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IAK

IAK Risk / Return Rank: 5
IAK Sharpe Ratio Rank: 6
IAK Sortino Ratio Rank: 6
IAK Omega Ratio Rank: 5
IAK Calmar Ratio Rank: 4
IAK Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AAUM	IAK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.94	0.26	-1.20

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.

Drawdown Indicators

	AAUM	IAK	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-23.44%	-5.82%	-17.62%
Average Drawdown Average peak-to-trough decline	-11.98%	-16.13%	+4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.96%	—

Volatility

Volatility by Period

	AAUM	IAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.98%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.52%	14.77%	+12.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.52%	18.07%	+9.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.52%	20.89%	+6.63%

AAUM vs. IAK - Expense Ratio Comparison

AAUM has a 0.75% expense ratio, which is higher than IAK's 0.43% expense ratio.

Dividends

AAUM vs. IAK - Dividend Comparison

AAUM's dividend yield for the trailing twelve months is around 0.93%, less than IAK's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAUM Tema Alternative Asset Managers ETF	0.93%	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	2.76%	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

Can I hold both AAUM and IAK in my portfolio?

AAUM and IAK have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAUM or IAK?

On fees, IAK is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAUM or IAK?

IAK is cheaper with a 0.43% expense ratio, compared with 0.75% for AAUM.

Which ETF pays a higher dividend yield, AAUM or IAK?

IAK has the higher dividend yield at 2.76%, compared with 0.93% for AAUM.

What is the main difference between AAUM and IAK?

They also come from different issuers: Tema ETFs and iShares. Their fees differ too: 0.75% for AAUM and 0.43% for IAK.