ARMY vs. ITOL

Last updated Aug 2, 2026

ARMY (Tema International Defense ETF) and ITOL (Tema International Durable Quality ETF) are both exchange-traded funds - ARMY is a Aerospace & Defense fund actively managed by Tema, while ITOL is a Quality Factor fund actively managed by Tema. Both are actively managed. Their 0.31 correlation means their historical movements had little consistent relationship. ARMY charges 0.68%/yr vs 0.60%/yr for ITOL.

Performance

ARMY vs. ITOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema International Defense ETF (ARMY) and Tema International Durable Quality ETF (ITOL). 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*: —

ITOL

• 1D: 0.00%
• 1M: 0.00%
• 6M: -2.81%
• YTD: 0.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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
ITOL Tema International Durable Quality ETF	$0.00	$0.00	$1.61K

ARMY vs. ITOL - Yearly Performance Comparison

	2026 (YTD)
ARMY Tema International Defense ETF	2.13%
ITOL Tema International Durable Quality ETF	11.94%

Correlation

The correlation between ARMY and ITOL is 0.31, 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	0.31

Return for Risk

ARMY vs. ITOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema International Defense ETF (ARMY) and Tema International Durable Quality ETF (ITOL). 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.

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

Drawdowns

ARMY vs. ITOL - Drawdown Comparison

The maximum ARMY drawdown since its inception was -16.37%, which is greater than ITOL's maximum drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for ARMY and ITOL.

Drawdown Indicators

	ARMY	ITOL	Difference
Max Drawdown Largest peak-to-trough decline	-16.37%	-15.54%	-0.83%
Current Drawdown Current decline from peak	-6.39%	-5.46%	-0.93%
Average Drawdown Average peak-to-trough decline	-7.53%	-3.91%	-3.62%

Volatility

Volatility by Period

	ARMY	ITOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	31.33%	16.17%	+15.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.33%	16.17%	+15.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.33%	16.17%	+15.16%

ARMY vs. ITOL - Expense Ratio Comparison

ARMY has a 0.68% expense ratio, which is higher than ITOL's 0.60% expense ratio.

Dividends

ARMY vs. ITOL - Dividend Comparison

ARMY has not paid dividends to shareholders, while ITOL's dividend yield for the trailing twelve months is around 0.13%.

Position	TTM	2025
ARMY Tema International Defense ETF	0.00%	0.00%
ITOL Tema International Durable Quality ETF	0.13%	0.13%

Frequently Asked Questions

Can I hold both ARMY and ITOL in my portfolio?

ARMY and ITOL have a correlation of 0.31, 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 ITOL?

On fees, ITOL is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARMY or ITOL?

ITOL is cheaper with a 0.60% expense ratio, compared with 0.68% for ARMY.

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

ITOL has the higher dividend yield at 0.13%, compared with 0.00% for ARMY.

What is the main difference between ARMY and ITOL?

ARMY is categorized as Aerospace & Defense, while ITOL is Quality Factor. Their fees differ too: 0.68% for ARMY and 0.60% for ITOL.