ARMY vs. TOLL
ARMY (Tema International Defense ETF) and TOLL (Tema Monopolies and Oligopolies ETF) are both exchange-traded funds - ARMY is a Aerospace & Defense fund actively managed by Tema, while TOLL is a Large Cap Growth Equities fund actively managed by Tema. Both are actively managed. Their 0.30 correlation means their historical movements had little consistent relationship. ARMY charges 0.68%/yr vs 0.55%/yr for TOLL.
Performance
ARMY vs. TOLL - Performance Comparison
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Returns By Period
ARMY
- 1D
- 0.13%
- 1M
- -0.13%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
TOLL
- 1D
- 0.73%
- 1M
- -3.52%
- 6M
- 7.48%
- YTD
- 11.07%
- 1Y
- 16.44%
- 3Y*
- 14.88%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $60.49K | $59.12K | $65.58K | |
| $213.51K | $340.80K | $548.66K |
ARMY vs. TOLL - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
ARMY Tema International Defense ETF | 2.13% |
TOLL Tema Monopolies and Oligopolies ETF | 17.80% |
Correlation
The correlation between ARMY and TOLL is 0.30, 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 | 0.30 |
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Return for Risk
ARMY vs. TOLL — Risk / Return Rank
ARMY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TOLL
ARMY vs. TOLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema International Defense ETF (ARMY) and Tema Monopolies and Oligopolies ETF (TOLL). 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 | TOLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.42 | — |
| Martin ratioReturn relative to average drawdown | — | 4.92 | — |
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Drawdowns
ARMY vs. TOLL - Drawdown Comparison
The maximum ARMY drawdown since its inception was -16.37%, which is greater than TOLL's maximum drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for ARMY and TOLL.
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Drawdown Indicators
| ARMY | TOLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.37% | -15.54% | -0.83% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.26% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.54% | — |
Current DrawdownCurrent decline from peak | -6.39% | -6.29% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -7.53% | -2.43% | -5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.24% | — |
Volatility
ARMY vs. TOLL - Volatility Comparison
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Volatility by Period
| ARMY | TOLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.90% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 13.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 31.33% | 16.30% | +15.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.33% | 16.18% | +15.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.33% | 16.18% | +15.15% |
ARMY vs. TOLL - Expense Ratio Comparison
ARMY has a 0.68% expense ratio, which is higher than TOLL's 0.55% expense ratio.
Dividends
ARMY vs. TOLL - Dividend Comparison
ARMY has not paid dividends to shareholders, while TOLL's dividend yield for the trailing twelve months is around 0.29%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ARMY Tema International Defense ETF | 0.00% | 0.00% | 0.00% | 0.00% |
TOLL Tema Monopolies and Oligopolies ETF | 0.29% | 0.32% | 1.99% | 0.36% |
Frequently Asked Questions
ARMY and TOLL have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TOLL is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TOLL is cheaper with a 0.55% expense ratio, compared with 0.68% for ARMY.
TOLL has the higher dividend yield at 0.29%, compared with 0.00% for ARMY.
ARMY is categorized as Aerospace & Defense, while TOLL is Large Cap Growth Equities. Their fees differ too: 0.68% for ARMY and 0.55% for TOLL.
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