CANC vs. TOLL

Last updated Jun 4, 2026

CANC (Tema Oncology ETF) and TOLL (Tema Monopolies and Oligopolies ETF) are both exchange-traded funds - CANC is a Health & Biotech Equities fund actively managed by Tema, while TOLL is a Large Cap Growth Equities fund actively managed by Tema. Both are actively managed. Over the past 3 years, CANC returned 107.76%/yr vs 17.47%/yr for TOLL. A 0.50 correlation means they provide meaningful diversification when combined. CANC charges 0.75%/yr vs 0.55%/yr for TOLL.

Performance

CANC vs. TOLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Oncology ETF (CANC) and Tema Monopolies and Oligopolies ETF (TOLL). 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 TOLL's 13.26% return.

CANC

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

TOLL

• 1D: 0.58%
• 1M: 7.88%
• YTD: 13.26%
• 6M: 14.02%
• 1Y: 19.11%
• 3Y*: 17.47%
• 5Y*: —
• 10Y*: —

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

CANC vs. TOLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CANC Tema Oncology ETF	4.82%	42.92%	-5.37%	787.60%
TOLL Tema Monopolies and Oligopolies ETF	13.26%	11.36%	12.79%	15.37%

Correlation

The correlation between CANC and TOLL is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since May 12, 2023	0.50

The correlation between CANC and TOLL has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.

CANC vs. TOLL - Sectors Allocation Comparison

Sectors	CANC	TOLL
Healthcare	100.0%	12.7%
Basic Materials	-	3.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	7.0%
Energy	-	-
Financial Services	-	26.5%
Industrials	-	16.9%
Real Estate	-	-
Technology	-	32.0%
Utilities	-	1.6%

Return for Risk

CANC vs. TOLL — 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

TOLL

TOLL Risk / Return Rank: 38
TOLL Sharpe Ratio Rank: 38
TOLL Sortino Ratio Rank: 38
TOLL Omega Ratio Rank: 36
TOLL Calmar Ratio Rank: 35
TOLL Martin Ratio Rank: 41

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. TOLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Oncology ETF (CANC) 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.

	CANC	TOLL	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.35	+0.72
Sortino ratio: Return per unit of downside risk	2.96	1.96	+1.00
Omega ratio: Gain probability vs. loss probability	1.34	1.24	+0.10
Calmar ratio: Return relative to maximum drawdown	5.49	1.70	+3.78
Martin ratio: Return relative to average drawdown	14.62	6.49	+8.13
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. TOLL - Sharpe Ratio Comparison

The current CANC Sharpe Ratio is 2.06, which is higher than the TOLL Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of CANC and TOLL, 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	TOLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.35	+0.72
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	1.12	-1.15

Drawdowns

CANC vs. TOLL - Drawdown Comparison

The maximum CANC drawdown since its inception was -97.53%, which is greater than TOLL's maximum drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for CANC and TOLL.

Drawdown Indicators

	CANC	TOLL	Difference
Max Drawdown Largest peak-to-trough decline	-97.53%	-15.54%	-81.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	-11.26%	+2.59%
Max Drawdown (3Y) Largest decline over 3 years	-30.27%	-15.54%	-14.73%
Current Drawdown Current decline from peak	-56.55%	0.00%	-56.55%
Average Drawdown Average peak-to-trough decline	-73.19%	-2.39%	-70.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	2.95%	+0.30%

Volatility

CANC vs. TOLL - Volatility Comparison

Tema Oncology ETF (CANC) has a higher volatility of 6.26% compared to Tema Monopolies and Oligopolies ETF (TOLL) at 4.64%. This indicates that CANC's price experiences larger fluctuations and is considered to be riskier than TOLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CANC	TOLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	4.64%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	16.69%	11.68%	+5.01%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	14.25%	+8.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	280.27%	15.82%	+264.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	280.27%	15.82%	+264.45%

CANC vs. TOLL - Expense Ratio Comparison

CANC has a 0.75% expense ratio, which is higher than TOLL's 0.55% expense ratio.

Dividends

CANC vs. TOLL - Dividend Comparison

CANC's dividend yield for the trailing twelve months is around 0.05%, less than TOLL's 0.28% yield.

Position	TTM	2025	2024	2023
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%
TOLL Tema Monopolies and Oligopolies ETF	0.28%	0.32%	1.99%	0.36%

Frequently Asked Questions

Can I hold both CANC and TOLL in my portfolio?

CANC and TOLL have a correlation of 0.45, 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 TOLL?

CANC has higher volatility (6.26%) compared to TOLL (4.64%). In terms of maximum drawdown, CANC dropped -97.53% vs TOLL's -15.54%.

Which ETF is better, CANC or TOLL?

On 3-year performance, CANC leads with 107.76% vs 17.47% for TOLL. On fees, TOLL is cheaper at 0.55% per year. On volatility, TOLL has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CANC or TOLL?

Over the 3-year period, CANC has performed better with a 107.76% return vs 17.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CANC or TOLL?

TOLL is cheaper with a 0.55% expense ratio, compared with 0.75% for CANC.

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

TOLL has the higher dividend yield at 0.28%, compared with 0.05% for CANC.

What is the main difference between CANC and TOLL?

CANC is categorized as Health & Biotech Equities, while TOLL is Large Cap Growth Equities. Their fees differ too: 0.75% for CANC and 0.55% for TOLL.

Which has better risk-adjusted returns?

CANC currently has the higher Sharpe Ratio (2.06 vs 1.35), 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.