PBEU vs. AAUM

Last updated Jun 23, 2026

PBEU (Portfolio Building Block European Banks Index ETF) and AAUM (Tema Alternative Asset Managers ETF) are both Financials Equities funds. PBEU is passively managed, while AAUM is actively managed. At a 0.48 correlation, their price movements are largely independent. PBEU charges 0.13%/yr vs 0.75%/yr for AAUM.

Performance

PBEU vs. AAUM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Portfolio Building Block European Banks Index ETF (PBEU) and Tema Alternative Asset Managers ETF (AAUM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBEU achieves a 15.27% return, which is significantly higher than AAUM's -16.99% return.

PBEU

• 1D: 0.88%
• 1M: 8.76%
• YTD: 15.27%
• 6M: 16.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAUM

• 1D: -1.15%
• 1M: -3.65%
• YTD: -16.99%
• 6M: -17.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBEU vs. AAUM - Yearly Performance Comparison

	2026 (YTD)	2025
PBEU Portfolio Building Block European Banks Index ETF	15.27%	11.42%
AAUM Tema Alternative Asset Managers ETF	-16.99%	9.99%

Correlation

The correlation between PBEU and AAUM is 0.48, 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 Nov 25, 2025	0.48

Return for Risk

PBEU vs. AAUM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block European Banks Index ETF (PBEU) and Tema Alternative Asset Managers ETF (AAUM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

PBEU vs. AAUM - Drawdown Comparison

The maximum PBEU drawdown since its inception was -17.26%, smaller than the maximum AAUM drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for PBEU and AAUM.

Drawdown Indicators

	PBEU	AAUM	Difference
Max Drawdown Largest peak-to-trough decline	-17.26%	-28.24%	+10.98%
Current Drawdown Current decline from peak	0.00%	-21.56%	+21.56%
Average Drawdown Average peak-to-trough decline	-3.96%	-12.49%	+8.53%

Volatility

Volatility by Period

	PBEU	AAUM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	27.64%	27.69%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.64%	27.69%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.64%	27.69%	-0.05%

PBEU vs. AAUM - Expense Ratio Comparison

PBEU has a 0.13% expense ratio, which is lower than AAUM's 0.75% expense ratio.

Dividends

PBEU vs. AAUM - Dividend Comparison

PBEU's dividend yield for the trailing twelve months is around 0.01%, less than AAUM's 0.91% yield.

Position	TTM	2025
AAUM Tema Alternative Asset Managers ETF	0.91%	0.75%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%

Frequently Asked Questions

Can I hold both PBEU and AAUM in my portfolio?

PBEU and AAUM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBEU or AAUM?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBEU or AAUM?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.75% for AAUM.

Which ETF pays a higher dividend yield, PBEU or AAUM?

AAUM has the higher dividend yield at 0.91%, compared with 0.01% for PBEU.

What is the main difference between PBEU and AAUM?

They also come from different issuers: Portfolio Building Block and Tema ETFs. Their fees differ too: 0.13% for PBEU and 0.75% for AAUM.