HRTS vs. PRVT

Last updated Jul 17, 2026

HRTS (Tema Obesity & Cardiometabolic ETF) and PRVT (Tema Listed Private Managers ETF) are both exchange-traded funds - HRTS is a Health & Biotech Equities fund actively managed by Tema, while PRVT is a Financials Equities fund actively managed by Tema. Both are actively managed. At a 0.30 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

HRTS vs. PRVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Obesity & Cardiometabolic ETF (HRTS) and Tema Listed Private Managers ETF (PRVT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HRTS

• 1D: 1.51%
• 1M: 6.49%
• 6M: 1.90%
• YTD: 3.50%
• 1Y: 28.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PRVT

• 1D: -0.31%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HRTS vs. PRVT - Yearly Performance Comparison

	2026 (YTD)
HRTS Tema Obesity & Cardiometabolic ETF	-1.99%
PRVT Tema Listed Private Managers ETF	5.80%

Correlation

The correlation between HRTS and PRVT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 6, 2026	0.30

HRTS vs. PRVT - Sectors Allocation Comparison

Sectors	HRTS	PRVT
Healthcare	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	100.0%
Technology	-	-
Utilities	-	-

Return for Risk

HRTS vs. PRVT — Risk / Return Rank

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

HRTS

HRTS Risk / Return Rank: 63
HRTS Sharpe Ratio Rank: 67
HRTS Sortino Ratio Rank: 74
HRTS Omega Ratio Rank: 61
HRTS Calmar Ratio Rank: 65
HRTS Martin Ratio Rank: 47

PRVT

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.

HRTS vs. PRVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Obesity & Cardiometabolic ETF (HRTS) and Tema Listed Private Managers ETF (PRVT). 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.

	HRTS	PRVT	Difference
Sharpe ratio: Return per unit of total volatility	1.74	—	—
Sortino ratio: Return per unit of downside risk	2.65	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.60	—	—
Martin ratio: Return relative to average drawdown	6.25	—	—

Drawdowns

HRTS vs. PRVT - Drawdown Comparison

The maximum HRTS drawdown since its inception was -25.81%, which is greater than PRVT's maximum drawdown of -2.95%. Use the drawdown chart below to compare losses from any high point for HRTS and PRVT.

Drawdown Indicators

	HRTS	PRVT	Difference
Max Drawdown Largest peak-to-trough decline	-25.81%	-2.95%	-22.86%
Max Drawdown (1Y) Largest decline over 1 year	-11.01%	—	—
Current Drawdown Current decline from peak	-2.77%	-0.31%	-2.46%
Average Drawdown Average peak-to-trough decline	-8.79%	-0.58%	-8.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	—	—

Volatility

Volatility by Period

	HRTS	PRVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.50%	29.51%	-13.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.11%	29.51%	-10.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.11%	29.51%	-10.40%

HRTS vs. PRVT - Expense Ratio Comparison

Both HRTS and PRVT have an expense ratio of 0.75%.

Dividends

HRTS vs. PRVT - Dividend Comparison

HRTS's dividend yield for the trailing twelve months is around 1.29%, while PRVT has not paid dividends to shareholders.

Position	TTM	2025	2024
HRTS Tema Obesity & Cardiometabolic ETF	1.29%	1.34%	1.63%
PRVT Tema Listed Private Managers ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HRTS and PRVT in my portfolio?

HRTS and PRVT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HRTS or PRVT?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HRTS or PRVT?

HRTS and PRVT have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, HRTS or PRVT?

HRTS has the higher dividend yield at 1.29%, compared with 0.00% for PRVT.

What is the main difference between HRTS and PRVT?

HRTS is categorized as Health & Biotech Equities, while PRVT is Financials Equities.