DSPY vs. GXLC

Last updated Jun 24, 2026

DSPY (Tema S&P 500 Historical Weight ETF Strategy) and GXLC (Global X U.S. 500 ETF) are both Large Cap Blend Equities funds. DSPY is actively managed, while GXLC is passively managed. With a 0.97 correlation, they move nearly in lockstep. DSPY charges 0.18%/yr vs 0.02%/yr for GXLC.

Performance

DSPY vs. GXLC - 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 Global X U.S. 500 ETF (GXLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSPY achieves a 11.15% return, which is significantly higher than GXLC's 8.31% return.

DSPY

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

GXLC

• 1D: -1.32%
• 1M: -1.12%
• YTD: 8.31%
• 6M: 7.39%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DSPY vs. GXLC - Yearly Performance Comparison

	2026 (YTD)	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	11.15%	2.90%
GXLC Global X U.S. 500 ETF	8.31%	3.22%

Correlation

The correlation between DSPY and GXLC is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.97

Return for Risk

DSPY vs. GXLC — 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

GXLC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. GXLC - 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 Global X U.S. 500 ETF (GXLC). 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	GXLC	Difference
Sharpe ratio: Return per unit of total volatility	2.11	—	—
Sortino ratio: Return per unit of downside risk	2.89	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.28	—	—
Martin ratio: Return relative to average drawdown	14.69	—	—

Drawdowns

DSPY vs. GXLC - Drawdown Comparison

The maximum DSPY drawdown since its inception was -12.15%, which is greater than GXLC's maximum drawdown of -9.08%. Use the drawdown chart below to compare losses from any high point for DSPY and GXLC.

Drawdown Indicators

	DSPY	GXLC	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-9.08%	-3.07%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	—	—
Current Drawdown Current decline from peak	-1.71%	-3.05%	+1.34%
Average Drawdown Average peak-to-trough decline	-1.25%	-1.54%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	—	—

Volatility

Volatility by Period

	DSPY	GXLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.77%	13.85%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	13.85%	+2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	13.85%	+2.75%

DSPY vs. GXLC - Expense Ratio Comparison

DSPY has a 0.18% expense ratio, which is higher than GXLC's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DSPY vs. GXLC - Dividend Comparison

DSPY's dividend yield for the trailing twelve months is around 0.75%, more than GXLC's 0.65% yield.

Position	TTM	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	0.75%	0.72%
GXLC Global X U.S. 500 ETF	0.65%	0.30%

Frequently Asked Questions

Can I hold both DSPY and GXLC in my portfolio?

With a correlation of 0.97, DSPY and GXLC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, DSPY or GXLC?

On fees, GXLC is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DSPY or GXLC?

GXLC is cheaper with a 0.02% expense ratio, compared with 0.18% for DSPY.

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

DSPY has the higher dividend yield at 0.75%, compared with 0.65% for GXLC.

What is the main difference between DSPY and GXLC?

They also come from different issuers: Tema and Global X. Their fees differ too: 0.18% for DSPY and 0.02% for GXLC.