PBPH vs. HRTS

Last updated Jun 4, 2026

PBPH (Portfolio Building Block World Pharma and Biotech Index ETF) and HRTS (Tema Obesity & Cardiometabolic ETF) are both Health & Biotech Equities funds. PBPH is passively managed, while HRTS is actively managed. Their correlation of 0.92 suggests significant overlap in exposure. PBPH charges 0.13%/yr vs 0.75%/yr for HRTS.

Performance

PBPH vs. HRTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Portfolio Building Block World Pharma and Biotech Index ETF (PBPH) and Tema Obesity & Cardiometabolic ETF (HRTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBPH achieves a -1.13% return, which is significantly higher than HRTS's -5.70% return.

PBPH

• 1D: 0.58%
• 1M: 0.07%
• YTD: -1.13%
• 6M: -0.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HRTS

• 1D: 0.51%
• 1M: -0.90%
• YTD: -5.70%
• 6M: -5.48%
• 1Y: 20.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBPH vs. HRTS - Yearly Performance Comparison

	2026 (YTD)	2025
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	-1.13%	0.76%
HRTS Tema Obesity & Cardiometabolic ETF	-5.70%	0.10%

Correlation

The correlation between PBPH and HRTS is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.92

Return for Risk

PBPH vs. HRTS — Risk / Return Rank

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

HRTS

HRTS Risk / Return Rank: 36
HRTS Sharpe Ratio Rank: 37
HRTS Sortino Ratio Rank: 38
HRTS Omega Ratio Rank: 33
HRTS Calmar Ratio Rank: 39
HRTS Martin Ratio Rank: 32

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.

PBPH vs. HRTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block World Pharma and Biotech Index ETF (PBPH) and Tema Obesity & Cardiometabolic ETF (HRTS). 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.

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

Sharpe Ratios by Period

	PBPH	HRTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.55	-0.60

Drawdowns

PBPH vs. HRTS - Drawdown Comparison

The maximum PBPH drawdown since its inception was -11.10%, smaller than the maximum HRTS drawdown of -25.81%. Use the drawdown chart below to compare losses from any high point for PBPH and HRTS.

Drawdown Indicators

	PBPH	HRTS	Difference
Max Drawdown Largest peak-to-trough decline	-11.10%	-25.81%	+14.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.01%	—
Current Drawdown Current decline from peak	-8.69%	-9.14%	+0.45%
Average Drawdown Average peak-to-trough decline	-4.23%	-9.02%	+4.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.36%	—

Volatility

Volatility by Period

	PBPH	HRTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	16.03%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	19.07%	-2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	19.07%	-2.29%

PBPH vs. HRTS - Expense Ratio Comparison

PBPH has a 0.13% expense ratio, which is lower than HRTS's 0.75% expense ratio.

Dividends

PBPH vs. HRTS - Dividend Comparison

PBPH's dividend yield for the trailing twelve months is around 0.09%, less than HRTS's 1.42% yield.

Position	TTM	2025	2024
HRTS Tema Obesity & Cardiometabolic ETF	1.42%	1.34%	1.63%
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	0.09%	0.09%	0.00%

Frequently Asked Questions

Can I hold both PBPH and HRTS in my portfolio?

With a correlation of 0.92, PBPH and HRTS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, PBPH or HRTS?

On fees, PBPH 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, PBPH or HRTS?

PBPH is cheaper with a 0.13% expense ratio, compared with 0.75% for HRTS.

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

HRTS has the higher dividend yield at 1.42%, compared with 0.09% for PBPH.

What is the main difference between PBPH and HRTS?

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