TOLL vs. GARY

Last updated Jul 14, 2026

TOLL (Tema Monopolies and Oligopolies ETF) and GARY (Mango Growth ETF) are both Large Cap Growth Equities funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. TOLL charges 0.55%/yr vs 0.77%/yr for GARY.

Performance

TOLL vs. GARY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Monopolies and Oligopolies ETF (TOLL) and Mango Growth ETF (GARY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOLL achieves a 14.23% return, which is significantly lower than GARY's 30.03% return.

TOLL

• 1D: -0.83%
• 1M: 0.16%
• 6M: 8.65%
• YTD: 14.23%
• 1Y: 17.98%
• 3Y*: 15.87%
• 5Y*: —
• 10Y*: —

GARY

• 1D: -1.55%
• 1M: -0.00%
• 6M: 22.99%
• YTD: 30.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOLL vs. GARY - Yearly Performance Comparison

	2026 (YTD)	2025
TOLL Tema Monopolies and Oligopolies ETF	14.23%	0.29%
GARY Mango Growth ETF	30.03%	0.15%

Correlation

The correlation between TOLL and GARY is 0.83, 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 Dec 22, 2025	0.83

Return for Risk

TOLL vs. GARY — Risk / Return Rank

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

TOLL

TOLL Risk / Return Rank: 40
TOLL Sharpe Ratio Rank: 39
TOLL Sortino Ratio Rank: 39
TOLL Omega Ratio Rank: 37
TOLL Calmar Ratio Rank: 39
TOLL Martin Ratio Rank: 46

GARY

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

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.

TOLL vs. GARY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Monopolies and Oligopolies ETF (TOLL) and Mango Growth ETF (GARY). 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.

	TOLL	GARY	Difference
Sharpe ratio: Return per unit of total volatility	1.13	—	—
Sortino ratio: Return per unit of downside risk	1.67	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.60	—	—
Martin ratio: Return relative to average drawdown	5.99	—	—

Drawdowns

TOLL vs. GARY - Drawdown Comparison

The maximum TOLL drawdown since its inception was -15.54%, which is greater than GARY's maximum drawdown of -10.28%. Use the drawdown chart below to compare losses from any high point for TOLL and GARY.

Drawdown Indicators

	TOLL	GARY	Difference
Max Drawdown Largest peak-to-trough decline	-15.54%	-10.28%	-5.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.26%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.54%	—	—
Current Drawdown Current decline from peak	-3.63%	-5.23%	+1.60%
Average Drawdown Average peak-to-trough decline	-2.37%	-1.87%	-0.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	—	—

Volatility

Volatility by Period

	TOLL	GARY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.02%	21.84%	-5.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	21.84%	-5.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	21.84%	-5.65%

TOLL vs. GARY - Expense Ratio Comparison

TOLL has a 0.55% expense ratio, which is lower than GARY's 0.77% expense ratio.

Dividends

TOLL vs. GARY - Dividend Comparison

TOLL's dividend yield for the trailing twelve months is around 0.28%, more than GARY's 0.04% yield.

Position	TTM	2025	2024	2023
GARY Mango Growth ETF	0.04%	0.05%	0.00%	0.00%
TOLL Tema Monopolies and Oligopolies ETF	0.28%	0.32%	1.99%	0.36%

Frequently Asked Questions

Can I hold both TOLL and GARY in my portfolio?

TOLL and GARY have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOLL or GARY?

On fees, TOLL is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOLL or GARY?

TOLL is cheaper with a 0.55% expense ratio, compared with 0.77% for GARY.

Which ETF pays a higher dividend yield, TOLL or GARY?

TOLL has the higher dividend yield at 0.28%, compared with 0.04% for GARY.

What is the main difference between TOLL and GARY?

They also come from different issuers: Tema and Mango. Their fees differ too: 0.55% for TOLL and 0.77% for GARY.