TOLL vs. ITOL

Last updated Jun 4, 2026

TOLL (Tema Monopolies and Oligopolies ETF) and ITOL (Tema International Durable Quality ETF) are both exchange-traded funds - TOLL is a Large Cap Growth Equities fund actively managed by Tema, while ITOL is a Foreign Large Cap Equities fund actively managed by Tema. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. TOLL charges 0.55%/yr vs 0.60%/yr for ITOL.

Performance

TOLL vs. ITOL - Performance Comparison

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

Returns By Period

In the year-to-date period, TOLL achieves a 13.26% return, which is significantly higher than ITOL's 0.58% return.

TOLL

• 1D: 0.58%
• 1M: 7.88%
• YTD: 13.26%
• 6M: 14.02%
• 1Y: 19.11%
• 3Y*: 17.47%
• 5Y*: —
• 10Y*: —

ITOL

• 1D: 0.00%
• 1M: 1.19%
• YTD: 0.58%
• 6M: 3.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOLL vs. ITOL - Yearly Performance Comparison

	2026 (YTD)	2025
TOLL Tema Monopolies and Oligopolies ETF	13.26%	2.74%
ITOL Tema International Durable Quality ETF	0.58%	3.85%

Correlation

The correlation between TOLL and ITOL is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 12, 2025	0.75

Return for Risk

TOLL vs. ITOL — Risk / Return Rank

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

TOLL

TOLL Risk / Return Rank: 38
TOLL Sharpe Ratio Rank: 38
TOLL Sortino Ratio Rank: 38
TOLL Omega Ratio Rank: 36
TOLL Calmar Ratio Rank: 35
TOLL Martin Ratio Rank: 41

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. ITOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Monopolies and Oligopolies ETF (TOLL) and Tema International Durable Quality ETF (ITOL). 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.

	TOLL	ITOL	Difference
Sharpe ratio: Return per unit of total volatility	1.35	—	—
Sortino ratio: Return per unit of downside risk	1.96	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.70	—	—
Martin ratio: Return relative to average drawdown	6.49	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TOLL	ITOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.35	+0.77

Drawdowns

TOLL vs. ITOL - Drawdown Comparison

The maximum TOLL drawdown since its inception was -15.54%, roughly equal to the maximum ITOL drawdown of -15.54%. Use the drawdown chart below to compare losses from any high point for TOLL and ITOL.

Drawdown Indicators

	TOLL	ITOL	Difference
Max Drawdown Largest peak-to-trough decline	-15.54%	-15.54%	0.00%
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	0.00%	-5.46%	+5.46%
Average Drawdown Average peak-to-trough decline	-2.39%	-3.59%	+1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	—	—

Volatility

Volatility by Period

	TOLL	ITOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.25%	17.90%	-3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	17.90%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.82%	17.90%	-2.08%

TOLL vs. ITOL - Expense Ratio Comparison

TOLL has a 0.55% expense ratio, which is lower than ITOL's 0.60% expense ratio.

Dividends

TOLL vs. ITOL - Dividend Comparison

TOLL's dividend yield for the trailing twelve months is around 0.28%, more than ITOL's 0.13% yield.

Position	TTM	2025	2024	2023
ITOL Tema International Durable Quality ETF	0.13%	0.13%	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 ITOL in my portfolio?

TOLL and ITOL have a correlation of 0.75, 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 ITOL?

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 ITOL?

TOLL is cheaper with a 0.55% expense ratio, compared with 0.60% for ITOL.

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

TOLL has the higher dividend yield at 0.28%, compared with 0.13% for ITOL.

What is the main difference between TOLL and ITOL?

TOLL is categorized as Large Cap Growth Equities, while ITOL is Foreign Large Cap Equities. Their fees differ too: 0.55% for TOLL and 0.60% for ITOL.