CANC vs. SURI

Last updated Jul 17, 2026

CANC (Tema Oncology ETF) and SURI (Simplify Propel Opportunities ETF) are both Health & Biotech Equities funds. Both are actively managed. Over the past 3 years, CANC returned 108.39%/yr vs 9.06%/yr for SURI. A 0.52 correlation means they provide meaningful diversification when combined. CANC charges 0.75%/yr vs 2.51%/yr for SURI.

Performance

CANC vs. SURI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Oncology ETF (CANC) and Simplify Propel Opportunities ETF (SURI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CANC having a 16.66% return and SURI slightly lower at 16.44%.

CANC

• 1D: -0.97%
• 1M: 8.94%
• 6M: 10.55%
• YTD: 16.66%
• 1Y: 54.48%
• 3Y*: 108.39%
• 5Y*: —
• 10Y*: —

SURI

• 1D: -0.72%
• 1M: 7.56%
• 6M: 12.15%
• YTD: 16.44%
• 1Y: 36.62%
• 3Y*: 9.06%
• 5Y*: —
• 10Y*: —

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

CANC vs. SURI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CANC Tema Oncology ETF	16.66%	42.92%	-5.37%	367.55%
SURI Simplify Propel Opportunities ETF	16.44%	28.32%	-13.34%	-2.87%

Correlation

The correlation between CANC and SURI is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023	0.52

The correlation between CANC and SURI has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.

CANC vs. SURI - Sectors Allocation Comparison

Sectors	CANC	SURI
Healthcare	100.0%	56.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	43.5%
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CANC vs. SURI — Risk / Return Rank

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

CANC

CANC Risk / Return Rank: 89
CANC Sharpe Ratio Rank: 90
CANC Sortino Ratio Rank: 90
CANC Omega Ratio Rank: 82
CANC Calmar Ratio Rank: 95
CANC Martin Ratio Rank: 90

SURI

SURI Risk / Return Rank: 63
SURI Sharpe Ratio Rank: 62
SURI Sortino Ratio Rank: 60
SURI Omega Ratio Rank: 55
SURI Calmar Ratio Rank: 76
SURI Martin Ratio Rank: 60

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. SURI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Oncology ETF (CANC) and Simplify Propel Opportunities ETF (SURI). 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.

	CANC	SURI	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.64	+0.78
Sortino ratio: Return per unit of downside risk	3.42	2.27	+1.15
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.11
Calmar ratio: Return relative to maximum drawdown	5.89	3.12	+2.76
Martin ratio: Return relative to average drawdown	15.89	8.25	+7.64

CANC vs. SURI - Sharpe Ratio Comparison

The current CANC Sharpe Ratio is 2.42, which is higher than the SURI Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of CANC and SURI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CANC vs. SURI - Drawdown Comparison

The maximum CANC drawdown since its inception was -97.53%, which is greater than SURI's maximum drawdown of -47.76%. Use the drawdown chart below to compare losses from any high point for CANC and SURI.

Drawdown Indicators

	CANC	SURI	Difference
Max Drawdown Largest peak-to-trough decline	-97.53%	-47.76%	-49.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-11.78%	+2.48%
Max Drawdown (3Y) Largest decline over 3 years	-30.27%	-47.76%	+17.49%
Current Drawdown Current decline from peak	-51.64%	-9.42%	-42.22%
Average Drawdown Average peak-to-trough decline	-72.65%	-17.19%	-55.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	4.45%	-1.01%

Volatility

CANC vs. SURI - Volatility Comparison

Tema Oncology ETF (CANC) has a higher volatility of 6.45% compared to Simplify Propel Opportunities ETF (SURI) at 5.85%. This indicates that CANC's price experiences larger fluctuations and is considered to be riskier than SURI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CANC	SURI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	5.85%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	16.40%	14.78%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	22.74%	22.45%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	276.80%	28.05%	+248.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	276.80%	28.05%	+248.75%

CANC vs. SURI - Expense Ratio Comparison

CANC has a 0.75% expense ratio, which is lower than SURI's 2.51% expense ratio.

Dividends

CANC vs. SURI - Dividend Comparison

CANC's dividend yield for the trailing twelve months is around 0.05%, less than SURI's 15.22% yield.

Position	TTM	2025	2024	2023
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%
SURI Simplify Propel Opportunities ETF	15.22%	16.31%	21.41%	14.71%

Frequently Asked Questions

Can I hold both CANC and SURI in my portfolio?

CANC and SURI have a correlation of 0.52, 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 SURI?

CANC has higher volatility (6.45%) compared to SURI (5.85%). In terms of maximum drawdown, CANC dropped -97.53% vs SURI's -47.76%.

Which ETF is better, CANC or SURI?

On 3-year performance, CANC leads with 108.39% vs 9.06% for SURI. On fees, CANC is cheaper at 0.75% per year. On volatility, SURI has been the lower-risk option at 5.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CANC or SURI?

Over the 3-year period, CANC has performed better with a 108.39% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CANC or SURI?

CANC is cheaper with a 0.75% expense ratio, compared with 2.51% for SURI.

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

SURI has the higher dividend yield at 15.22%, compared with 0.05% for CANC.

What is the main difference between CANC and SURI?

They also come from different issuers: Tema and Simplify. Their fees differ too: 0.75% for CANC and 2.51% for SURI.

Which has better risk-adjusted returns?

CANC currently has the higher Sharpe Ratio (2.42 vs 1.64), 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.