DSPY vs. TEXN

Last updated Jun 4, 2026

DSPY (Tema S&P 500 Historical Weight ETF Strategy) and TEXN (iShares Texas Equity ETF) are both Large Cap Blend Equities funds. DSPY is actively managed, while TEXN is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. DSPY charges 0.18%/yr vs 0.20%/yr for TEXN.

Performance

DSPY vs. TEXN - 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 iShares Texas Equity ETF (TEXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSPY achieves a 12.26% return, which is significantly lower than TEXN's 25.94% return.

DSPY

• 1D: -0.36%
• 1M: 5.59%
• YTD: 12.26%
• 6M: 12.63%
• 1Y: 26.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TEXN

• 1D: -0.24%
• 1M: 5.35%
• YTD: 25.94%
• 6M: 24.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DSPY vs. TEXN - Yearly Performance Comparison

	2026 (YTD)	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	12.26%	10.80%
TEXN iShares Texas Equity ETF	25.94%	8.16%

Correlation

The correlation between DSPY and TEXN is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.64

DSPY vs. TEXN - Sectors Allocation Comparison

Sectors	DSPY	TEXN
Technology	28.8%	15.5%
Financial Services	14.2%	4.1%
Industrials	10.8%	16.9%
Healthcare	10.6%	2.9%
Consumer Cyclical	9.3%	10.8%
Communication Services	7.7%	3.6%
Consumer Defensive	6.4%	2.1%
Energy	4.4%	36.1%
Utilities	3.0%	2.9%
Real Estate	2.5%	4.2%
Basic Materials	2.3%	0.8%

Return for Risk

DSPY vs. TEXN — Risk / Return Rank

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

DSPY

DSPY Risk / Return Rank: 75
DSPY Sharpe Ratio Rank: 75
DSPY Sortino Ratio Rank: 75
DSPY Omega Ratio Rank: 72
DSPY Calmar Ratio Rank: 72
DSPY Martin Ratio Rank: 82

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. TEXN - 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 iShares Texas Equity ETF (TEXN). 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.

	DSPY	TEXN	Difference
Sharpe ratio: Return per unit of total volatility	2.41	—	—
Sortino ratio: Return per unit of downside risk	3.34	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.57	—	—
Martin ratio: Return relative to average drawdown	16.34	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DSPY	TEXN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	2.75	-1.07

Drawdowns

DSPY vs. TEXN - Drawdown Comparison

The maximum DSPY drawdown since its inception was -12.15%, which is greater than TEXN's maximum drawdown of -6.34%. Use the drawdown chart below to compare losses from any high point for DSPY and TEXN.

Drawdown Indicators

	DSPY	TEXN	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-6.34%	-5.81%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	—	—
Current Drawdown Current decline from peak	-0.36%	-0.24%	-0.12%
Average Drawdown Average peak-to-trough decline	-1.25%	-1.12%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	—	—

Volatility

Volatility by Period

	DSPY	TEXN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.21%	14.19%	-2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	14.19%	+2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	14.19%	+2.34%

DSPY vs. TEXN - Expense Ratio Comparison

DSPY has a 0.18% expense ratio, which is lower than TEXN's 0.20% expense ratio. Despite the difference, 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. TEXN - Dividend Comparison

DSPY's dividend yield for the trailing twelve months is around 0.74%, less than TEXN's 1.01% yield.

Position	TTM	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	0.74%	0.72%
TEXN iShares Texas Equity ETF	1.01%	0.86%

Frequently Asked Questions

Can I hold both DSPY and TEXN in my portfolio?

DSPY and TEXN have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DSPY or TEXN?

On fees, DSPY is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DSPY or TEXN?

DSPY is cheaper with a 0.18% expense ratio, compared with 0.20% for TEXN.

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

TEXN has the higher dividend yield at 1.01%, compared with 0.74% for DSPY.

What is the main difference between DSPY and TEXN?

They also come from different issuers: Tema and iShares. Their fees differ too: 0.18% for DSPY and 0.20% for TEXN.