DSPY vs. TDVG

Last updated Aug 2, 2026

DSPY (Tema S&P 500 Historical Weight ETF Strategy) and TDVG (T. Rowe Price Dividend Growth ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, DSPY returned 22.85% vs 19.23% for TDVG. Their correlation of 0.86 means they have usually moved in the same direction. DSPY charges 0.18%/yr vs 0.50%/yr for TDVG.

Performance

DSPY vs. TDVG - 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 T. Rowe Price Dividend Growth ETF (TDVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSPY achieves a 12.27% return, which is significantly higher than TDVG's 10.93% return.

DSPY

• 1D: 0.45%
• 1M: -0.38%
• 6M: 9.96%
• YTD: 12.27%
• 1Y: 22.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.28%

TDVG

• 1D: -0.24%
• 1M: 0.47%
• 6M: 9.09%
• YTD: 10.93%
• 1Y: 19.23%
• 3Y*: 14.55%
• 5Y*: 10.00%
• 10Y*: —
• ALL TIME*: 13.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DSPY Tema S&P 500 Historical Weight ETF Strategy	$273.16K	$369.65K	$2.14M
TDVG T. Rowe Price Dividend Growth ETF	$2.11M	$3.07M	$2.63M

DSPY vs. TDVG - Yearly Performance Comparison

	2026 (YTD)	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	12.27%	18.94%
TDVG T. Rowe Price Dividend Growth ETF	10.93%	12.17%

Correlation

The correlation between DSPY and TDVG is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.86

The correlation between DSPY and TDVG has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

DSPY vs. TDVG - Sectors Allocation Comparison

Sectors	DSPY	TDVG
Technology	30.1%	27.4%
Financial Services	14.9%	19.3%
Healthcare	11.1%	12.8%
Industrials	10.0%	14.4%
Consumer Cyclical	8.3%	6.7%
Communication Services	6.5%	0.8%
Consumer Defensive	5.9%	6.6%
Energy	4.4%	4.5%
Utilities	3.5%	3.2%
Real Estate	2.6%	1.5%
Basic Materials	2.4%	2.8%

Return for Risk

DSPY vs. TDVG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DSPY

DSPY Risk / Return Rank: 79
DSPY Sharpe Ratio Rank: 78
DSPY Sortino Ratio Rank: 78
DSPY Omega Ratio Rank: 75
DSPY Calmar Ratio Rank: 79
DSPY Martin Ratio Rank: 86

TDVG

TDVG Risk / Return Rank: 80
TDVG Sharpe Ratio Rank: 82
TDVG Sortino Ratio Rank: 83
TDVG Omega Ratio Rank: 80
TDVG Calmar Ratio Rank: 73
TDVG Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DSPY vs. TDVG - 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 T. Rowe Price Dividend Growth ETF (TDVG). 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	TDVG	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.87	-0.07
Sortino ratio: Return per unit of downside risk	2.50	2.69	-0.18
Omega ratio: Gain probability vs. loss probability	1.32	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	2.85	2.51	+0.33
Martin ratio: Return relative to average drawdown	12.58	10.48	+2.10

DSPY vs. TDVG - Sharpe Ratio Comparison

The current DSPY Sharpe Ratio is 1.80, which is comparable to the TDVG Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of DSPY and TDVG, 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. TDVG - Drawdown Comparison

The maximum DSPY drawdown since its inception was -12.15%, smaller than the maximum TDVG drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for DSPY and TDVG.

Drawdown Indicators

	DSPY	TDVG	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-19.20%	+7.05%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	-7.24%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.20%	—
Current Drawdown Current decline from peak	-1.27%	-0.92%	-0.35%
Average Drawdown Average peak-to-trough decline	-1.23%	-3.67%	+2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.73%	-0.02%

Volatility

DSPY vs. TDVG - Volatility Comparison

Tema S&P 500 Historical Weight ETF Strategy (DSPY) has a higher volatility of 2.99% compared to T. Rowe Price Dividend Growth ETF (TDVG) at 2.20%. This indicates that DSPY's price experiences larger fluctuations and is considered to be riskier than TDVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPY	TDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	2.20%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	7.30%	+2.08%
Volatility (1Y) Calculated over the trailing 1-year period	11.96%	9.74%	+2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	13.87%	+2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	13.81%	+2.35%

DSPY vs. TDVG - Expense Ratio Comparison

DSPY has a 0.18% expense ratio, which is lower than TDVG's 0.50% expense ratio.

Dividends

DSPY vs. TDVG - Dividend Comparison

DSPY's dividend yield for the trailing twelve months is around 0.75%, less than TDVG's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DSPY Tema S&P 500 Historical Weight ETF Strategy	0.75%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%
TDVG T. Rowe Price Dividend Growth ETF	0.96%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%

Frequently Asked Questions

Can I hold both DSPY and TDVG in my portfolio?

DSPY and TDVG have a correlation of 0.83, 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 TDVG?

DSPY has higher volatility (2.99%) compared to TDVG (2.20%). In terms of maximum drawdown, DSPY dropped -12.15% vs TDVG's -19.20%.

Which ETF is better, DSPY or TDVG?

On 1-year performance, DSPY leads with 22.85% vs 19.23% for TDVG. On fees, DSPY is cheaper at 0.18% per year. On volatility, TDVG has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DSPY or TDVG?

Over the 1-year period, DSPY has performed better with a 22.85% return vs 19.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DSPY or TDVG?

DSPY is cheaper with a 0.18% expense ratio, compared with 0.50% for TDVG.

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

TDVG has the higher dividend yield at 0.96%, compared with 0.75% for DSPY.

What is the main difference between DSPY and TDVG?

They also come from different issuers: Tema and T. Rowe Price. Their fees differ too: 0.18% for DSPY and 0.50% for TDVG.

Which has better risk-adjusted returns?

TDVG currently has the higher Sharpe Ratio (1.87 vs 1.80), 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.