ETF Evaluator:
Tema S&P 500 Hist Wght ETF Strat (DSPY)
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(as of Aug 07)
Best Performing in Large Blend Over the Last Year
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ETF Details
Tema S&P 500 Hist Wght ETF Strat Overview
Tema S&P 500 Hist Wght ETF Strat (DSPY) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). Tema ETFs launched the ETF in 2025.
The investment seeks long-term growth based on a historical weight interpretation of the S&P 500® Index (the “S&P 500”).
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a portfolio of stocks that make up a version of the S&P 500 that reflects the historical weight distribution of the S&P 500. Under normal circumstances, at least 80% of the fund’s net assets, plus borrowings for investment purposes, will be invested in securities of companies that are included in the S&P 500.
About Tema S&P 500 Hist Wght ETF Strat (DSPY)
There are 5 members of the management team with an average tenure of 0.93 years: William Jones (2025), Yuri Khodjamirian (2025), Andrew Hicks (2026), Qiao Duan (2026) and Maurits Pot (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Tema S&P 500 Hist Wght ETF Strat has 508 securities in its portfolio. The top 10 holdings constitute 21.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Tema S&P 500 Hist Wght ETF Strat is part of the Equity global asset class and is within the U.S. Equity ETF group. Tema S&P 500 Hist Wght ETF Strat has 0.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.9% There is 0.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Tema S&P 500 Hist Wght ETF Strat has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $970 million in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DSPY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Tema S&P 500 Hist Wght ETF Strat expense ratio is low compared to funds in the Large Blend category. Tema S&P 500 Hist Wght ETF Strat has an expense ratio of 0.18%, which is 57% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Tema S&P 500 Hist Wght ETF Strat has a portfolio turnover rate of 1%, which indicates that it holds its assets around / 1.0 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, Tema S&P 500 Hist Wght ETF Strat returned -1.0%, which earned it a grade of D, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Tema S&P 500 Hist Wght ETF Strat has a trailing yield of 0.75%, which is below the 1.16% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Tema S&P 500 Hist Wght ETF Strat Grades
Year to date, the ETF has returned 12.2%, 2.7 percentage points better than the category, which translates into a grade of B. The fund has returned 21.1% over the past year (grade of B).
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DSPY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DSPY Return (NAV) | -1.0% | 5.1% | 21.1% | na | na | na |
| DSPY Return (Price) | -1.0% | 5.1% | 20.5% | na | na | na |
| NAV +/- Price Return | -0.076% | -0.043% | 0.672% | na | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| DSPY Grade (NAV) | D | B | B | na | na | na |
| +/- Category (NAV) | -0.2% | 1.4% | 3.6% | na | na | na |
| DSPY Tax-Cost Ratio | na | na | 0.3% | na | na | na |
DSPY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DSPY Return (NAV) | 12.2% | na | na | na | na | na | na | na | na | na | na |
| DSPY Return (Price) | 11.4% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.066% | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| DSPY Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.7% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.8% |
| Total Assets: | $ 970 Mil |
| Share Class Assets: | $ 970 Mil |
| Turnover: | 1.0% |
| Expense Ratio: | 0.18% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 1.3 years | |||
| Average Tenure: 0.9 years | |||
| Managers (Year): Khodjamirian Yuri (2025), Pot Maurits (2025), Jones William (2025), Hicks Andrew (2026), Duan Qiao (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 508 |
| % in Top 10 Holdings: | 21.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.7% |
Portfolio Allocation |
|
| Domestic Stock: | 98.9% |
| Foreign Stock: | 0.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Tema ETFs |
| Phone Number: | 888-744-1377 |
| Website: | www.tema.co |
| Inception Date: | March 31, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.18% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.41% |
