DSPY vs. CANC

Last updated Jun 24, 2026

DSPY (Tema S&P 500 Historical Weight ETF Strategy) and CANC (Tema Oncology ETF) are both exchange-traded funds - DSPY is a Large Cap Blend Equities fund actively managed by Tema, while CANC is a Health & Biotech Equities fund actively managed by Tema. Both are actively managed. Over the past year, DSPY returned 24.61% vs 56.88% for CANC. At a 0.48 correlation, their price movements are largely independent. DSPY charges 0.18%/yr vs 0.75%/yr for CANC.

Performance

DSPY vs. CANC - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with DSPY having a 11.15% return and CANC slightly higher at 11.49%.

DSPY

• 1D: -1.24%
• 1M: 0.69%
• YTD: 11.15%
• 6M: 10.30%
• 1Y: 24.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CANC

• 1D: 1.64%
• 1M: 1.56%
• YTD: 11.49%
• 6M: 9.19%
• 1Y: 56.88%
• 3Y*: 132.65%
• 5Y*: —
• 10Y*: —

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

DSPY vs. CANC - Yearly Performance Comparison

	2026 (YTD)	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	11.15%	18.94%
CANC Tema Oncology ETF	11.49%	44.26%

Correlation

The correlation between DSPY and CANC is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.48

DSPY vs. CANC - Sectors Allocation Comparison

Sectors	DSPY	CANC
Technology	32.4%	-
Financial Services	14.1%	-
Healthcare	10.2%	100.0%
Industrials	9.9%	-
Consumer Cyclical	8.6%	-
Communication Services	6.8%	-
Consumer Defensive	5.8%	-
Energy	3.7%	-
Utilities	3.2%	-
Real Estate	2.3%	-
Basic Materials	2.2%	-

Return for Risk

DSPY vs. CANC — Risk / Return Rank

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

DSPY

DSPY Risk / Return Rank: 73
DSPY Sharpe Ratio Rank: 72
DSPY Sortino Ratio Rank: 71
DSPY Omega Ratio Rank: 69
DSPY Calmar Ratio Rank: 71
DSPY Martin Ratio Rank: 81

CANC

CANC Risk / Return Rank: 85
CANC Sharpe Ratio Rank: 85
CANC Sortino Ratio Rank: 86
CANC Omega Ratio Rank: 74
CANC Calmar Ratio Rank: 93
CANC Martin Ratio Rank: 85

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.

DSPY vs. CANC - Risk-Adjusted Trends Comparison

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

	DSPY	CANC	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.52	-0.41
Sortino ratio: Return per unit of downside risk	2.89	3.54	-0.65
Omega ratio: Gain probability vs. loss probability	1.37	1.40	-0.03
Calmar ratio: Return relative to maximum drawdown	3.28	6.15	-2.87
Martin ratio: Return relative to average drawdown	14.69	16.71	-2.02

DSPY vs. CANC - Sharpe Ratio Comparison

The current DSPY Sharpe Ratio is 2.11, which is comparable to the CANC Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of DSPY and CANC, 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

DSPY vs. CANC - Drawdown Comparison

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

Drawdown Indicators

	DSPY	CANC	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-97.53%	+85.38%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	-9.30%	+1.75%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.27%	—
Current Drawdown Current decline from peak	-1.71%	-53.78%	+52.07%
Average Drawdown Average peak-to-trough decline	-1.25%	-72.94%	+71.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	3.41%	-1.73%

Volatility

DSPY vs. CANC - Volatility Comparison

The current volatility for Tema S&P 500 Historical Weight ETF Strategy (DSPY) is 4.52%, while Tema Oncology ETF (CANC) has a volatility of 6.60%. This indicates that DSPY experiences smaller price fluctuations and is considered to be less risky than CANC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPY	CANC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	6.60%	-2.08%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	16.94%	-7.62%
Volatility (1Y) Calculated over the trailing 1-year period	11.77%	22.72%	-10.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	278.65%	-262.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	278.65%	-262.05%

DSPY vs. CANC - Expense Ratio Comparison

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

Dividends

DSPY vs. CANC - Dividend Comparison

DSPY's dividend yield for the trailing twelve months is around 0.75%, more than CANC's 0.05% 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	0.75%	0.72%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DSPY and CANC in my portfolio?

DSPY and CANC have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DSPY or CANC?

CANC has higher volatility (6.60%) compared to DSPY (4.52%). In terms of maximum drawdown, DSPY dropped -12.15% vs CANC's -97.53%.

Which ETF is better, DSPY or CANC?

On 1-year performance, CANC leads with 56.88% vs 24.61% for DSPY. On fees, DSPY is cheaper at 0.18% per year. On volatility, DSPY has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DSPY or CANC?

Over the 1-year period, CANC has performed better with a 56.88% return vs 24.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DSPY or CANC?

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

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

DSPY has the higher dividend yield at 0.75%, compared with 0.05% for CANC.

What is the main difference between DSPY and CANC?

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

Which has better risk-adjusted returns?

CANC currently has the higher Sharpe Ratio (2.52 vs 2.11), 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.