HRTS vs. TOLL

Last updated Apr 2, 2026

Compare and contrast key facts about Tema Obesity & Cardiometabolic ETF (HRTS) and Tema Monopolies and Oligopolies ETF (TOLL).

HRTS and TOLL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HRTS is an actively managed fund by Tema. It was launched on Nov 20, 2023. TOLL is an actively managed fund by Tema. It was launched on May 10, 2023.

Performance

HRTS vs. TOLL - Performance Comparison

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

HRTS vs. TOLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HRTS Tema Obesity & Cardiometabolic ETF	-3.74%	23.93%	-4.30%	14.97%
TOLL Tema Monopolies and Oligopolies ETF	-3.33%	11.36%	12.79%	7.45%

Returns By Period

In the year-to-date period, HRTS achieves a -3.74% return, which is significantly lower than TOLL's -3.33% return.

HRTS

• 1D: 0.84%
• 1M: -4.98%
• YTD: -3.74%
• 6M: 8.13%
• 1Y: 20.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOLL

• 1D: 0.95%
• 1M: -6.40%
• YTD: -3.33%
• 6M: -0.96%
• 1Y: 6.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HRTS vs. TOLL - Expense Ratio Comparison

HRTS has a 0.75% expense ratio, which is higher than TOLL's 0.55% expense ratio.

HRTS

Tema Obesity & Cardiometabolic ETF

TOLL

Tema Monopolies and Oligopolies ETF

Return for Risk

HRTS vs. TOLL — Risk / Return Rank

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

HRTS

HRTS Risk / Return Rank: 53
HRTS Sharpe Ratio Rank: 58
HRTS Sortino Ratio Rank: 56
HRTS Omega Ratio Rank: 49
HRTS Calmar Ratio Rank: 57
HRTS Martin Ratio Rank: 46

TOLL

TOLL Risk / Return Rank: 22
TOLL Sharpe Ratio Rank: 20
TOLL Sortino Ratio Rank: 21
TOLL Omega Ratio Rank: 21
TOLL Calmar Ratio Rank: 23
TOLL Martin Ratio Rank: 24

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. TOLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Obesity & Cardiometabolic ETF (HRTS) and Tema Monopolies and Oligopolies ETF (TOLL). 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.

	HRTS	TOLL	Difference
Sharpe ratio Return per unit of total volatility	1.07	0.32	+0.75
Sortino ratio Return per unit of downside risk	1.54	0.61	+0.93
Omega ratio Gain probability vs. loss probability	1.20	1.08	+0.11
Calmar ratio Return relative to maximum drawdown	1.58	0.54	+1.05
Martin ratio Return relative to average drawdown	4.72	1.97	+2.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HRTS vs. TOLL - Sharpe Ratio Comparison

The current HRTS Sharpe Ratio is 1.07, which is higher than the TOLL Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of HRTS and TOLL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HRTS	TOLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	0.32	+0.75
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.79	-0.15

Correlation

The correlation between HRTS and TOLL is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HRTS vs. TOLL - Dividend Comparison

HRTS's dividend yield for the trailing twelve months is around 1.39%, more than TOLL's 0.33% yield.

	TTM	2025	2024	2023
HRTS Tema Obesity & Cardiometabolic ETF	1.39%	1.34%	1.63%	0.00%
TOLL Tema Monopolies and Oligopolies ETF	0.33%	0.32%	1.99%	0.36%

Drawdowns

HRTS vs. TOLL - Drawdown Comparison

The maximum HRTS drawdown since its inception was -25.81%, which is greater than TOLL's maximum drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for HRTS and TOLL.

Drawdown Indicators

	HRTS	TOLL	Difference
Max Drawdown Largest peak-to-trough decline	-25.81%	-15.54%	-10.27%
Max Drawdown (1Y) Largest decline over 1 year	-11.01%	-11.83%	+0.82%
Current Drawdown Current decline from peak	-7.25%	-8.47%	+1.22%
Average Drawdown Average peak-to-trough decline	-9.12%	-2.44%	-6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	3.23%	+0.46%

Volatility

HRTS vs. TOLL - Volatility Comparison

Tema Obesity & Cardiometabolic ETF (HRTS) has a higher volatility of 5.94% compared to Tema Monopolies and Oligopolies ETF (TOLL) at 5.57%. This indicates that HRTS's price experiences larger fluctuations and is considered to be riskier than TOLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HRTS	TOLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	5.57%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	10.56%	+0.46%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	19.19%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	15.75%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	15.75%	+3.52%