PRVT vs. ARMY

Last updated Jul 30, 2026

PRVT (Tema Listed Private Managers ETF) and ARMY (Tema International Defense ETF) are both exchange-traded funds - PRVT is a Financials Equities fund actively managed by Tema, while ARMY is a Aerospace & Defense fund actively managed by Tema. Both are actively managed. Their 0.03 correlation means their historical movements had little consistent relationship. PRVT charges 0.75%/yr vs 0.68%/yr for ARMY.

Performance

PRVT vs. ARMY - Performance Comparison

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

Returns By Period

PRVT

• 1D: -0.91%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

ARMY

• 1D: -1.57%
• 1M: 7.47%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
ARMY Tema International Defense ETF	$50.22K	$59.65K	$65.11K
PRVT Tema Listed Private Managers ETF	$8.30K	$7.65K	$7.65K

PRVT vs. ARMY - Yearly Performance Comparison

	2026 (YTD)
PRVT Tema Listed Private Managers ETF	6.54%
ARMY Tema International Defense ETF	-1.82%

Correlation

The correlation between PRVT and ARMY is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 6, 2026	0.03

Return for Risk

PRVT vs. ARMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Listed Private Managers ETF (PRVT) and Tema International Defense ETF (ARMY). 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

PRVT vs. ARMY - Drawdown Comparison

The maximum PRVT drawdown since its inception was -4.07%, smaller than the maximum ARMY drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for PRVT and ARMY.

Drawdown Indicators

	PRVT	ARMY	Difference
Max Drawdown Largest peak-to-trough decline	-4.07%	-16.37%	+12.30%
Current Drawdown Current decline from peak	-0.91%	-7.97%	+7.06%
Average Drawdown Average peak-to-trough decline	-1.08%	-7.56%	+6.48%

Volatility

Volatility by Period

	PRVT	ARMY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	26.36%	31.59%	-5.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.36%	31.59%	-5.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.36%	31.59%	-5.23%

PRVT vs. ARMY - Expense Ratio Comparison

PRVT has a 0.75% expense ratio, which is higher than ARMY's 0.68% expense ratio.

Dividends

PRVT vs. ARMY - Dividend Comparison

Neither PRVT nor ARMY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PRVT and ARMY in my portfolio?

PRVT and ARMY have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PRVT or ARMY?

On fees, ARMY is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRVT or ARMY?

ARMY is cheaper with a 0.68% expense ratio, compared with 0.75% for PRVT.

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

PRVT and ARMY have nearly identical dividend yields, around 0.00%.

What is the main difference between PRVT and ARMY?

PRVT is categorized as Financials Equities, while ARMY is Aerospace & Defense. Their fees differ too: 0.75% for PRVT and 0.68% for ARMY.