AAUM vs. KBE
AAUM (Tema Alternative Asset Managers ETF) and KBE (SPDR S&P Bank ETF) are both Financials Equities funds. AAUM is actively managed, while KBE is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. AAUM charges 0.75%/yr vs 0.35%/yr for KBE.
Performance
AAUM vs. KBE - Performance Comparison
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Returns By Period
In the year-to-date period, AAUM achieves a -19.17% return, which is significantly lower than KBE's 11.37% return.
AAUM
- 1D
- -2.64%
- 1M
- -6.19%
- YTD
- -19.17%
- 6M
- -19.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBE
- 1D
- 1.33%
- 1M
- 5.76%
- YTD
- 11.37%
- 6M
- 8.58%
- 1Y
- 26.10%
- 3Y*
- 27.71%
- 5Y*
- 8.00%
- 10Y*
- 11.09%
AAUM vs. KBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AAUM Tema Alternative Asset Managers ETF | -19.17% | 0.10% |
KBE SPDR S&P Bank ETF | 11.37% | 2.81% |
Correlation
The correlation between AAUM and KBE is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025 | 0.54 |
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Return for Risk
AAUM vs. KBE — Risk / Return Rank
AAUM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KBE
AAUM vs. KBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema Alternative Asset Managers ETF (AAUM) and SPDR S&P Bank ETF (KBE). 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 | KBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.23 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.79 | — |
| Martin ratioReturn relative to average drawdown | — | 4.71 | — |
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Drawdowns
AAUM vs. KBE - Drawdown Comparison
The maximum AAUM drawdown since its inception was -28.24%, smaller than the maximum KBE drawdown of -83.15%. Use the drawdown chart below to compare losses from any high point for AAUM and KBE.
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Drawdown Indicators
| AAUM | KBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.24% | -83.15% | +54.91% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.63% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.97% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.14% | — |
Current DrawdownCurrent decline from peak | -23.62% | 0.00% | -23.62% |
Average DrawdownAverage peak-to-trough decline | -12.55% | -27.47% | +14.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.56% | — |
Volatility
AAUM vs. KBE - Volatility Comparison
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Volatility by Period
| AAUM | KBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.85% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.12% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.78% | 21.63% | +6.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.78% | 27.25% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.78% | 29.77% | -1.99% |
AAUM vs. KBE - Expense Ratio Comparison
AAUM has a 0.75% expense ratio, which is higher than KBE's 0.35% expense ratio.
Dividends
AAUM vs. KBE - Dividend Comparison
AAUM's dividend yield for the trailing twelve months is around 0.93%, less than KBE's 2.19% 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% |
KBE SPDR S&P Bank ETF | 2.19% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
Frequently Asked Questions
AAUM and KBE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KBE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KBE is cheaper with a 0.35% expense ratio, compared with 0.75% for AAUM.
KBE has the higher dividend yield at 2.19%, compared with 0.93% for AAUM.
They also come from different issuers: Tema ETFs and State Street. Their fees differ too: 0.75% for AAUM and 0.35% for KBE.
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