DSPY vs. PSMD

Last updated Jun 24, 2026

DSPY (Tema S&P 500 Historical Weight ETF Strategy) and PSMD (Pacer Swan SOS Moderate (December) ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, DSPY returned 24.61% vs 13.69% for PSMD. Their correlation of 0.90 suggests significant overlap in exposure. DSPY charges 0.18%/yr vs 0.75%/yr for PSMD.

Performance

DSPY vs. PSMD - 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 Pacer Swan SOS Moderate (December) ETF (PSMD). 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 PSMD's 4.91% return.

DSPY

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

PSMD

• 1D: -0.51%
• 1M: -0.09%
• YTD: 4.91%
• 6M: 5.01%
• 1Y: 13.69%
• 3Y*: 12.16%
• 5Y*: 8.98%
• 10Y*: —

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

DSPY vs. PSMD - Yearly Performance Comparison

	2026 (YTD)	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	11.15%	18.94%
PSMD Pacer Swan SOS Moderate (December) ETF	4.91%	13.21%

Correlation

The correlation between DSPY and PSMD is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.90

The correlation between DSPY and PSMD has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

DSPY vs. PSMD - Sectors Allocation Comparison

Sectors	DSPY	PSMD
Technology	32.4%	34.1%
Financial Services	14.1%	12.6%
Healthcare	10.2%	9.4%
Industrials	9.9%	8.0%
Consumer Cyclical	8.6%	10.6%
Communication Services	6.8%	11.2%
Consumer Defensive	5.8%	5.0%
Energy	3.7%	3.2%
Utilities	3.2%	2.3%
Real Estate	2.3%	1.9%
Basic Materials	2.2%	1.8%

Return for Risk

DSPY vs. PSMD — 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

PSMD

PSMD Risk / Return Rank: 81
PSMD Sharpe Ratio Rank: 81
PSMD Sortino Ratio Rank: 86
PSMD Omega Ratio Rank: 87
PSMD Calmar Ratio Rank: 67
PSMD Martin Ratio Rank: 84

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. PSMD - 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 Pacer Swan SOS Moderate (December) ETF (PSMD). 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	PSMD	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.40	-0.30
Sortino ratio: Return per unit of downside risk	2.89	3.55	-0.65
Omega ratio: Gain probability vs. loss probability	1.37	1.49	-0.12
Calmar ratio: Return relative to maximum drawdown	3.28	3.11	+0.17
Martin ratio: Return relative to average drawdown	14.69	16.22	-1.53

DSPY vs. PSMD - Sharpe Ratio Comparison

The current DSPY Sharpe Ratio is 2.11, which is comparable to the PSMD Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of DSPY and PSMD, 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. PSMD - Drawdown Comparison

The maximum DSPY drawdown since its inception was -12.15%, roughly equal to the maximum PSMD drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for DSPY and PSMD.

Drawdown Indicators

	DSPY	PSMD	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-11.96%	-0.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	-4.42%	-3.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.96%	—
Current Drawdown Current decline from peak	-1.71%	-0.73%	-0.98%
Average Drawdown Average peak-to-trough decline	-1.25%	-1.65%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	0.85%	+0.83%

Volatility

DSPY vs. PSMD - Volatility Comparison

Tema S&P 500 Historical Weight ETF Strategy (DSPY) has a higher volatility of 4.52% compared to Pacer Swan SOS Moderate (December) ETF (PSMD) at 1.93%. This indicates that DSPY's price experiences larger fluctuations and is considered to be riskier than PSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPY	PSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	1.93%	+2.59%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	4.78%	+4.54%
Volatility (1Y) Calculated over the trailing 1-year period	11.77%	5.75%	+6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	8.63%	+7.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	8.47%	+8.13%

DSPY vs. PSMD - Expense Ratio Comparison

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

Dividends

DSPY vs. PSMD - Dividend Comparison

DSPY's dividend yield for the trailing twelve months is around 0.75%, while PSMD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
DSPY Tema S&P 500 Historical Weight ETF Strategy	0.75%	0.72%	0.00%	0.00%	0.00%	0.00%
PSMD Pacer Swan SOS Moderate (December) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.47%

Frequently Asked Questions

Can I hold both DSPY and PSMD in my portfolio?

DSPY and PSMD have a correlation of 0.88, 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 PSMD?

DSPY has higher volatility (4.52%) compared to PSMD (1.93%). In terms of maximum drawdown, DSPY dropped -12.15% vs PSMD's -11.96%.

Which ETF is better, DSPY or PSMD?

On 1-year performance, DSPY leads with 24.61% vs 13.69% for PSMD. On fees, DSPY is cheaper at 0.18% per year. On volatility, PSMD has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DSPY or PSMD?

Over the 1-year period, DSPY has performed better with a 24.61% return vs 13.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DSPY or PSMD?

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

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

DSPY has the higher dividend yield at 0.75%, compared with 0.00% for PSMD.

What is the main difference between DSPY and PSMD?

They also come from different issuers: Tema and Pacer. Their fees differ too: 0.18% for DSPY and 0.75% for PSMD.

Which has better risk-adjusted returns?

PSMD currently has the higher Sharpe Ratio (2.40 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.