ARMY vs. HRTS

Last updated Aug 2, 2026

ARMY (Tema International Defense ETF) and HRTS (Tema Obesity & Cardiometabolic ETF) are both exchange-traded funds - ARMY is a Aerospace & Defense fund actively managed by Tema, while HRTS is a Health & Biotech Equities fund actively managed by Tema. Both are actively managed. Their 0.45 correlation means their historical movements had little consistent relationship. ARMY charges 0.68%/yr vs 0.75%/yr for HRTS.

Performance

ARMY vs. HRTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema International Defense ETF (ARMY) and Tema Obesity & Cardiometabolic ETF (HRTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ARMY

• 1D: 0.13%
• 1M: -0.13%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

HRTS

• 1D: -1.26%
• 1M: -2.24%
• 6M: 2.43%
• YTD: 3.25%
• 1Y: 31.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARMY Tema International Defense ETF	$60.49K	$59.12K	$65.58K
HRTS Tema Obesity & Cardiometabolic ETF	$413.90K	$241.96K	$213.63K

ARMY vs. HRTS - Yearly Performance Comparison

	2026 (YTD)
ARMY Tema International Defense ETF	2.13%
HRTS Tema Obesity & Cardiometabolic ETF	11.34%

Correlation

The correlation between ARMY and HRTS is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 31, 2026	0.45

Return for Risk

ARMY vs. HRTS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ARMY

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

HRTS

HRTS Risk / Return Rank: 79
HRTS Sharpe Ratio Rank: 85
HRTS Sortino Ratio Rank: 88
HRTS Omega Ratio Rank: 81
HRTS Calmar Ratio Rank: 81
HRTS Martin Ratio Rank: 60

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ARMY vs. HRTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema International Defense ETF (ARMY) and Tema Obesity & Cardiometabolic ETF (HRTS). 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.

	ARMY	HRTS	Difference
Sharpe ratio: Return per unit of total volatility	—	2.02	—
Sortino ratio: Return per unit of downside risk	—	3.03	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	2.98	—
Martin ratio: Return relative to average drawdown	—	7.24	—

Drawdowns

ARMY vs. HRTS - Drawdown Comparison

The maximum ARMY drawdown since its inception was -16.37%, smaller than the maximum HRTS drawdown of -25.81%. Use the drawdown chart below to compare losses from any high point for ARMY and HRTS.

Drawdown Indicators

	ARMY	HRTS	Difference
Max Drawdown Largest peak-to-trough decline	-16.37%	-25.81%	+9.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.01%	—
Current Drawdown Current decline from peak	-6.39%	-3.01%	-3.38%
Average Drawdown Average peak-to-trough decline	-7.53%	-8.69%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.52%	—

Volatility

Volatility by Period

	ARMY	HRTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	31.33%	16.36%	+14.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.33%	19.05%	+12.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.33%	19.05%	+12.28%

ARMY vs. HRTS - Expense Ratio Comparison

ARMY has a 0.68% expense ratio, which is lower than HRTS's 0.75% expense ratio.

Dividends

ARMY vs. HRTS - Dividend Comparison

ARMY has not paid dividends to shareholders, while HRTS's dividend yield for the trailing twelve months is around 1.30%.

Position	TTM	2025	2024
ARMY Tema International Defense ETF	0.00%	0.00%	0.00%
HRTS Tema Obesity & Cardiometabolic ETF	1.30%	1.34%	1.63%

Frequently Asked Questions

Can I hold both ARMY and HRTS in my portfolio?

ARMY and HRTS have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ARMY or HRTS?

On fees, ARMY is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARMY or HRTS?

ARMY is cheaper with a 0.68% expense ratio, compared with 0.75% for HRTS.

Which ETF pays a higher dividend yield, ARMY or HRTS?

HRTS has the higher dividend yield at 1.30%, compared with 0.00% for ARMY.

What is the main difference between ARMY and HRTS?

ARMY is categorized as Aerospace & Defense, while HRTS is Health & Biotech Equities. Their fees differ too: 0.68% for ARMY and 0.75% for HRTS.