CANC vs. DSPY

Last updated Jun 4, 2026

CANC (Tema Oncology ETF) and DSPY (Tema S&P 500 Historical Weight ETF Strategy) are both exchange-traded funds - CANC is a Health & Biotech Equities fund actively managed by Tema, while DSPY is a Large Cap Blend Equities fund actively managed by Tema. Both are actively managed. Over the past year, CANC returned 47.37% vs 26.81% for DSPY. A 0.50 correlation means they provide meaningful diversification when combined. CANC charges 0.75%/yr vs 0.18%/yr for DSPY.

Performance

CANC vs. DSPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Oncology ETF (CANC) and Tema S&P 500 Historical Weight ETF Strategy (DSPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CANC achieves a 4.82% return, which is significantly lower than DSPY's 12.26% return.

CANC

• 1D: 0.08%
• 1M: -3.73%
• YTD: 4.82%
• 6M: 3.86%
• 1Y: 47.37%
• 3Y*: 107.76%
• 5Y*: —
• 10Y*: —

DSPY

• 1D: -0.36%
• 1M: 5.59%
• YTD: 12.26%
• 6M: 12.63%
• 1Y: 26.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CANC vs. DSPY - Yearly Performance Comparison

	2026 (YTD)	2025
CANC Tema Oncology ETF	4.82%	48.15%
DSPY Tema S&P 500 Historical Weight ETF Strategy	12.26%	18.46%

Correlation

The correlation between CANC and DSPY is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025	0.50

The correlation between CANC and DSPY has been stable across timeframes, ranging from 0.48 to 0.50 - a consistent structural relationship.

CANC vs. DSPY - Sectors Allocation Comparison

Sectors	CANC	DSPY
Healthcare	100.0%	10.6%
Basic Materials	-	2.3%
Communication Services	-	7.7%
Consumer Cyclical	-	9.3%
Consumer Defensive	-	6.4%
Energy	-	4.4%
Financial Services	-	14.2%
Industrials	-	10.8%
Real Estate	-	2.5%
Technology	-	28.8%
Utilities	-	3.0%

Return for Risk

CANC vs. DSPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CANC

CANC Risk / Return Rank: 69
CANC Sharpe Ratio Rank: 61
CANC Sortino Ratio Rank: 64
CANC Omega Ratio Rank: 54
CANC Calmar Ratio Rank: 90
CANC Martin Ratio Rank: 77

DSPY

DSPY Risk / Return Rank: 75
DSPY Sharpe Ratio Rank: 75
DSPY Sortino Ratio Rank: 75
DSPY Omega Ratio Rank: 72
DSPY Calmar Ratio Rank: 72
DSPY Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CANC vs. DSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Oncology ETF (CANC) and Tema S&P 500 Historical Weight ETF Strategy (DSPY). 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.

	CANC	DSPY	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.41	-0.34
Sortino ratio: Return per unit of downside risk	2.96	3.34	-0.38
Omega ratio: Gain probability vs. loss probability	1.34	1.43	-0.09
Calmar ratio: Return relative to maximum drawdown	5.49	3.57	+1.92
Martin ratio: Return relative to average drawdown	14.62	16.34	-1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CANC vs. DSPY - Sharpe Ratio Comparison

The current CANC Sharpe Ratio is 2.06, which is comparable to the DSPY Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of CANC and DSPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CANC	DSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.41	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	1.68	-1.71

Drawdowns

CANC vs. DSPY - Drawdown Comparison

The maximum CANC drawdown since its inception was -97.53%, which is greater than DSPY's maximum drawdown of -12.15%. Use the drawdown chart below to compare losses from any high point for CANC and DSPY.

Drawdown Indicators

	CANC	DSPY	Difference
Max Drawdown Largest peak-to-trough decline	-97.53%	-12.15%	-85.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	-7.55%	-1.12%
Max Drawdown (3Y) Largest decline over 3 years	-30.27%	—	—
Current Drawdown Current decline from peak	-56.55%	-0.36%	-56.19%
Average Drawdown Average peak-to-trough decline	-73.19%	-1.25%	-71.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	1.64%	+1.61%

Volatility

CANC vs. DSPY - Volatility Comparison

Tema Oncology ETF (CANC) has a higher volatility of 6.26% compared to Tema S&P 500 Historical Weight ETF Strategy (DSPY) at 2.82%. This indicates that CANC's price experiences larger fluctuations and is considered to be riskier than DSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CANC	DSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	2.82%	+3.44%
Volatility (6M) Calculated over the trailing 6-month period	16.69%	8.52%	+8.17%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	11.21%	+11.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	280.27%	16.53%	+263.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	280.27%	16.53%	+263.74%

CANC vs. DSPY - Expense Ratio Comparison

CANC has a 0.75% expense ratio, which is higher than DSPY's 0.18% expense ratio.

Dividends

CANC vs. DSPY - Dividend Comparison

CANC's dividend yield for the trailing twelve months is around 0.05%, less than DSPY's 0.74% yield.

Position	TTM	2025	2024	2023
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%
DSPY Tema S&P 500 Historical Weight ETF Strategy	0.74%	0.72%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CANC and DSPY in my portfolio?

CANC and DSPY 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 is riskier, CANC or DSPY?

CANC has higher volatility (6.26%) compared to DSPY (2.82%). In terms of maximum drawdown, CANC dropped -97.53% vs DSPY's -12.15%.

Which ETF is better, CANC or DSPY?

On 1-year performance, CANC leads with 47.37% vs 26.81% for DSPY. On fees, DSPY is cheaper at 0.18% per year. On volatility, DSPY has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CANC or DSPY?

Over the 1-year period, CANC has performed better with a 47.37% return vs 26.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CANC or DSPY?

DSPY is cheaper with a 0.18% expense ratio, compared with 0.75% for CANC.

Which ETF pays a higher dividend yield, CANC or DSPY?

DSPY has the higher dividend yield at 0.74%, compared with 0.05% for CANC.

What is the main difference between CANC and DSPY?

CANC is categorized as Health & Biotech Equities, while DSPY is Large Cap Blend Equities. Their fees differ too: 0.75% for CANC and 0.18% for DSPY.

Which has better risk-adjusted returns?

DSPY currently has the higher Sharpe Ratio (2.41 vs 2.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.