AAUM vs. PBEU

Last updated Jun 5, 2026

AAUM (Tema Alternative Asset Managers ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds. AAUM is actively managed, while PBEU is passively managed. At a 0.48 correlation, their price movements are largely independent. AAUM charges 0.75%/yr vs 0.13%/yr for PBEU.

Performance

AAUM vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Alternative Asset Managers ETF (AAUM) and Portfolio Building Block European Banks Index ETF (PBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAUM achieves a -15.70% return, which is significantly lower than PBEU's 7.74% return.

AAUM

• 1D: 4.05%
• 1M: -4.38%
• YTD: -15.70%
• 6M: -11.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBEU

• 1D: 1.00%
• 1M: 5.33%
• YTD: 7.74%
• 6M: 15.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAUM vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
AAUM Tema Alternative Asset Managers ETF	-15.70%	8.42%
PBEU Portfolio Building Block European Banks Index ETF	7.74%	11.49%

Correlation

The correlation between AAUM and PBEU is 0.48, 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 Nov 26, 2025	0.48

Return for Risk

AAUM vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Alternative Asset Managers ETF (AAUM) and Portfolio Building Block European Banks Index ETF (PBEU). 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	PBEU	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.76	1.54	-2.30

Drawdowns

AAUM vs. PBEU - Drawdown Comparison

The maximum AAUM drawdown since its inception was -28.24%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for AAUM and PBEU.

Drawdown Indicators

	AAUM	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-28.24%	-17.26%	-10.98%
Current Drawdown Current decline from peak	-20.34%	-1.20%	-19.14%
Average Drawdown Average peak-to-trough decline	-12.03%	-4.21%	-7.82%

Volatility

Volatility by Period

	AAUM	PBEU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	27.91%	27.80%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.91%	27.80%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.91%	27.80%	+0.11%

AAUM vs. PBEU - Expense Ratio Comparison

AAUM has a 0.75% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

AAUM vs. PBEU - Dividend Comparison

AAUM's dividend yield for the trailing twelve months is around 0.89%, more than PBEU's 0.01% yield.

Position	TTM	2025
AAUM Tema Alternative Asset Managers ETF	0.89%	0.75%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%

Frequently Asked Questions

Can I hold both AAUM and PBEU in my portfolio?

AAUM and PBEU have a correlation of 0.48, 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 PBEU?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAUM or PBEU?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.75% for AAUM.

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

AAUM has the higher dividend yield at 0.89%, compared with 0.01% for PBEU.

What is the main difference between AAUM and PBEU?

They also come from different issuers: Tema ETFs and Portfolio Building Block. Their fees differ too: 0.75% for AAUM and 0.13% for PBEU.