ARMY vs. PRVT

Last updated Aug 2, 2026

ARMY (Tema International Defense ETF) and PRVT (Tema Listed Private Managers ETF) are both exchange-traded funds - ARMY is a Aerospace & Defense fund actively managed by Tema, while PRVT is a Financials Equities fund actively managed by Tema. Both are actively managed. Their 0.01 correlation means their historical movements had little consistent relationship. ARMY charges 0.68%/yr vs 0.75%/yr for PRVT.

Performance

ARMY vs. PRVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema International Defense ETF (ARMY) and Tema Listed Private Managers ETF (PRVT). 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*: —

PRVT

• 1D: 0.61%
• 1M: —
• 6M: —
• YTD: —
• 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
PRVT Tema Listed Private Managers ETF	$7.78K	$6.90K	$6.90K

ARMY vs. PRVT - Yearly Performance Comparison

	2026 (YTD)
ARMY Tema International Defense ETF	-0.13%
PRVT Tema Listed Private Managers ETF	7.22%

Correlation

The correlation between ARMY and PRVT is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 6, 2026	0.01

Return for Risk

ARMY vs. PRVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema International Defense ETF (ARMY) and Tema Listed Private Managers ETF (PRVT). 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. PRVT - Drawdown Comparison

The maximum ARMY drawdown since its inception was -16.37%, which is greater than PRVT's maximum drawdown of -4.07%. Use the drawdown chart below to compare losses from any high point for ARMY and PRVT.

Drawdown Indicators

	ARMY	PRVT	Difference
Max Drawdown Largest peak-to-trough decline	-16.37%	-4.07%	-12.30%
Current Drawdown Current decline from peak	-6.39%	-0.28%	-6.11%
Average Drawdown Average peak-to-trough decline	-7.53%	-1.03%	-6.50%

Volatility

Volatility by Period

	ARMY	PRVT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	31.33%	24.98%	+6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.33%	24.98%	+6.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.33%	24.98%	+6.35%

ARMY vs. PRVT - Expense Ratio Comparison

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

Dividends

ARMY vs. PRVT - Dividend Comparison

Neither ARMY nor PRVT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ARMY and PRVT in my portfolio?

ARMY and PRVT have a correlation of 0.01, 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 PRVT?

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 PRVT?

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

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

ARMY and PRVT have nearly identical dividend yields, around 0.00%.

What is the main difference between ARMY and PRVT?

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