PRVT vs. PBEU

Last updated Jul 10, 2026

PRVT (Tema Listed Private Managers ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds. PRVT is actively managed, while PBEU is passively managed. At a 0.20 correlation, their price movements are largely independent. PRVT charges 0.75%/yr vs 0.13%/yr for PBEU.

Performance

PRVT vs. PBEU - Performance Comparison

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

Returns By Period

PRVT

• 1D: 2.08%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBEU

• 1D: 1.24%
• 1M: 9.05%
• 6M: 14.20%
• YTD: 15.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRVT vs. PBEU - Yearly Performance Comparison

	2026 (YTD)
PRVT Tema Listed Private Managers ETF	1.57%
PBEU Portfolio Building Block European Banks Index ETF	0.21%

Correlation

The correlation between PRVT and PBEU is 0.20, 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	0.20

Return for Risk

PRVT vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Listed Private Managers ETF (PRVT) and Portfolio Building Block European Banks Index ETF (PBEU). 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. PBEU - Drawdown Comparison

The maximum PRVT drawdown since its inception was -2.95%, smaller than the maximum PBEU drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for PRVT and PBEU.

Drawdown Indicators

	PRVT	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-17.26%	+14.31%
Current Drawdown Current decline from peak	-0.93%	-2.10%	+1.17%
Average Drawdown Average peak-to-trough decline	-0.97%	-3.79%	+2.82%

Volatility

Volatility by Period

	PRVT	PBEU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	39.67%	27.28%	+12.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.67%	27.28%	+12.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.67%	27.28%	+12.39%

PRVT vs. PBEU - Expense Ratio Comparison

PRVT has a 0.75% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

PRVT vs. PBEU - Dividend Comparison

PRVT has not paid dividends to shareholders, while PBEU's dividend yield for the trailing twelve months is around 0.01%.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PRVT and PBEU in my portfolio?

PRVT and PBEU have a correlation of 0.20, 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 PBEU?

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, PRVT or PBEU?

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

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

PBEU has the higher dividend yield at 0.01%, compared with 0.00% for PRVT.

What is the main difference between PRVT and PBEU?

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