PRVT vs. IAT
PRVT (Tema Listed Private Managers ETF) and IAT (iShares U.S. Regional Banks ETF) are both Financials Equities funds. PRVT is actively managed, while IAT is passively managed. At a 0.17 correlation, their price movements are largely independent. PRVT charges 0.75%/yr vs 0.42%/yr for IAT.
Performance
PRVT vs. IAT - Performance Comparison
Loading charts...
Returns By Period
PRVT
- 1D
- -0.31%
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAT
- 1D
- 2.00%
- 1M
- 8.29%
- 6M
- 15.61%
- YTD
- 19.57%
- 1Y
- 31.32%
- 3Y*
- 26.05%
- 5Y*
- 6.40%
- 10Y*
- 9.84%
PRVT vs. IAT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PRVT Tema Listed Private Managers ETF | 5.80% |
IAT iShares U.S. Regional Banks ETF | 3.92% |
Correlation
The correlation between PRVT and IAT is 0.17, 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 | 0.17 |
PRVT vs. IAT - Sectors Allocation Comparison
Sectors
PRVT
IAT
Real Estate
-
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
Healthcare
-
-
Industrials
-
-
Technology
-
-
Utilities
-
-
Real Estate
PRVT
IAT
-
Basic Materials
PRVT
-
IAT
-
Communication Services
PRVT
-
IAT
-
Consumer Cyclical
PRVT
-
IAT
-
Consumer Defensive
PRVT
-
IAT
-
Energy
PRVT
-
IAT
-
Financial Services
PRVT
-
IAT
Healthcare
PRVT
-
IAT
-
Industrials
PRVT
-
IAT
-
Technology
PRVT
-
IAT
-
Utilities
PRVT
-
IAT
-
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PRVT vs. IAT — Risk / Return Rank
PRVT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IAT
PRVT vs. IAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema Listed Private Managers ETF (PRVT) and iShares U.S. Regional Banks ETF (IAT). 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.
| PRVT | IAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.80 | — |
| Martin ratioReturn relative to average drawdown | — | 4.59 | — |
Loading charts...
Drawdowns
PRVT vs. IAT - Drawdown Comparison
The maximum PRVT drawdown since its inception was -2.95%, smaller than the maximum IAT drawdown of -77.22%. Use the drawdown chart below to compare losses from any high point for PRVT and IAT.
Loading charts...
Drawdown Indicators
| PRVT | IAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.95% | -77.22% | +74.27% |
Max Drawdown (1Y)Largest decline over 1 year | — | -17.49% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -29.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.55% | — |
Current DrawdownCurrent decline from peak | -0.31% | 0.00% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.58% | -26.83% | +26.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.84% | — |
Volatility
PRVT vs. IAT - Volatility Comparison
Loading charts...
Volatility by Period
| PRVT | IAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.56% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 16.40% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 29.51% | 21.86% | +7.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.51% | 28.87% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.51% | 30.66% | -1.15% |
PRVT vs. IAT - Expense Ratio Comparison
PRVT has a 0.75% expense ratio, which is higher than IAT's 0.42% expense ratio.
Dividends
PRVT vs. IAT - Dividend Comparison
PRVT has not paid dividends to shareholders, while IAT's dividend yield for the trailing twelve months is around 2.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAT iShares U.S. Regional Banks ETF | 2.48% | 2.94% | 2.95% | 3.56% | 3.12% | 1.88% | 2.87% | 2.49% | 2.48% | 1.55% | 1.52% | 1.78% |
PRVT Tema Listed Private Managers ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PRVT and IAT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAT is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAT is cheaper with a 0.42% expense ratio, compared with 0.75% for PRVT.
IAT has the higher dividend yield at 2.48%, compared with 0.00% for PRVT.
They also come from different issuers: Tema and iShares. Their fees differ too: 0.75% for PRVT and 0.42% for IAT.
Find the right allocation for PRVT and IAT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer