DSPY vs. VOLT

Last updated Aug 2, 2026

DSPY (Tema S&P 500 Historical Weight ETF Strategy) and VOLT (Tema Electrification ETF) are both exchange-traded funds - DSPY is a Large Cap Blend Equities fund actively managed by Tema, while VOLT is a Global Equities fund actively managed by Tema. Both are actively managed. Over the past year, DSPY returned 22.85% vs 38.01% for VOLT. Their 0.70 correlation means they have sometimes moved together and sometimes differently. DSPY charges 0.18%/yr vs 0.75%/yr for VOLT.

Performance

DSPY vs. VOLT - 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 Electrification ETF (VOLT). 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 lower than VOLT's 28.30% return.

DSPY

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

VOLT

• 1D: 1.62%
• 1M: -5.26%
• 6M: 15.18%
• YTD: 28.30%
• 1Y: 38.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.26%

*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
VOLT Tema Electrification ETF	$11.21M	$11.77M	$15.67M

DSPY vs. VOLT - Yearly Performance Comparison

	2026 (YTD)	2025
DSPY Tema S&P 500 Historical Weight ETF Strategy	12.27%	18.94%
VOLT Tema Electrification ETF	28.30%	36.28%

Correlation

The correlation between DSPY and VOLT is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	0.70

The correlation between DSPY and VOLT has been stable across timeframes, ranging from 0.66 to 0.70 - a consistent structural relationship.

DSPY vs. VOLT - Sectors Allocation Comparison

Sectors	DSPY	VOLT
Technology	30.1%	14.1%
Financial Services	14.9%	0.5%
Healthcare	11.1%	-
Industrials	10.0%	50.4%
Consumer Cyclical	8.3%	2.6%
Communication Services	6.5%	-
Consumer Defensive	5.9%	-
Energy	4.4%	4.7%
Utilities	3.5%	28.2%
Real Estate	2.6%	-
Basic Materials	2.4%	1.4%

Return for Risk

DSPY vs. VOLT — 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

VOLT

VOLT Risk / Return Rank: 63
VOLT Sharpe Ratio Rank: 66
VOLT Sortino Ratio Rank: 61
VOLT Omega Ratio Rank: 61
VOLT Calmar Ratio Rank: 61
VOLT Martin Ratio Rank: 67

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. VOLT - 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 Electrification ETF (VOLT). 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	VOLT	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.50	+0.30
Sortino ratio: Return per unit of downside risk	2.50	2.04	+0.46
Omega ratio: Gain probability vs. loss probability	1.32	1.26	+0.06
Calmar ratio: Return relative to maximum drawdown	2.85	2.14	+0.71
Martin ratio: Return relative to average drawdown	12.58	8.15	+4.43

DSPY vs. VOLT - Sharpe Ratio Comparison

The current DSPY Sharpe Ratio is 1.80, which is comparable to the VOLT Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of DSPY and VOLT, 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. VOLT - Drawdown Comparison

The maximum DSPY drawdown since its inception was -12.15%, smaller than the maximum VOLT drawdown of -23.40%. Use the drawdown chart below to compare losses from any high point for DSPY and VOLT.

Drawdown Indicators

	DSPY	VOLT	Difference
Max Drawdown Largest peak-to-trough decline	-12.15%	-23.40%	+11.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.55%	-17.22%	+9.67%
Current Drawdown Current decline from peak	-1.27%	-11.75%	+10.48%
Average Drawdown Average peak-to-trough decline	-1.23%	-5.34%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	4.50%	-2.79%

Volatility

DSPY vs. VOLT - Volatility Comparison

The current volatility for Tema S&P 500 Historical Weight ETF Strategy (DSPY) is 2.99%, while Tema Electrification ETF (VOLT) has a volatility of 9.95%. This indicates that DSPY experiences smaller price fluctuations and is considered to be less risky than VOLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPY	VOLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	9.95%	-6.96%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	21.11%	-11.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.96%	24.43%	-12.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	25.46%	-9.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	25.46%	-9.30%

DSPY vs. VOLT - Expense Ratio Comparison

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

Dividends

DSPY vs. VOLT - Dividend Comparison

DSPY's dividend yield for the trailing twelve months is around 0.75%, more than VOLT's 0.36% yield.

Position	TTM	2025	2024
DSPY Tema S&P 500 Historical Weight ETF Strategy	0.75%	0.72%	0.00%
VOLT Tema Electrification ETF	0.36%	0.46%	0.01%

Frequently Asked Questions

Can I hold both DSPY and VOLT in my portfolio?

DSPY and VOLT have a correlation of 0.66, 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 VOLT?

VOLT has higher volatility (9.95%) compared to DSPY (2.99%). In terms of maximum drawdown, DSPY dropped -12.15% vs VOLT's -23.40%.

Which ETF is better, DSPY or VOLT?

On 1-year performance, VOLT leads with 38.01% vs 22.85% for DSPY. On fees, DSPY is cheaper at 0.18% per year. On volatility, DSPY has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DSPY or VOLT?

Over the 1-year period, VOLT has performed better with a 38.01% return vs 22.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DSPY or VOLT?

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

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

DSPY has the higher dividend yield at 0.75%, compared with 0.36% for VOLT.

What is the main difference between DSPY and VOLT?

DSPY is categorized as Large Cap Blend Equities, while VOLT is Global Equities. Their fees differ too: 0.18% for DSPY and 0.75% for VOLT.

Which has better risk-adjusted returns?

DSPY currently has the higher Sharpe Ratio (1.80 vs 1.50), 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.