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Launched · SEC filings

Tema International Defense Innovation ETF

ARMYNasdaqTemaD

$23.69−0.08 (−0.34%)

At close: Nov 2, 2026, 4:00 PM ET

D32/ 100

Rank 21 of 26 in Defense & Aerospace

D32/100Rank 21 of 26inDefense & Aerospace
Intraday session: down, 79 prints from 23.77 to 23.69. Range 23.65 to 23.93. Use the arrow keys to read each point.23.6523.8523.9010 AM12 PM2 PM4 PM
Expense ratio
0.68%*
Fund size
$13M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
37
Avg volume · 30D
4.13K sh
52W range
low $21.14high $28.96
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Jun 28, 2027. Without it: 0.75%.

The ETF.net ARMY Grade

Based on 5 of 6 pillars

D

Score 32 out of 100

Category
Defense & Aerospace⁠
Rank
21 of 26
Six-pillar profile for ARMY. Scores out of 100: Cost 20, Risk 32, Mission not scored, Tradability 33, Holdings 59, Durability 55. Strongest: Holdings (59). Weakest: Cost (20). Based on 5 of 6 pillars.

Score 32 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F20 out of 100
    Rank 21 of 26

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D32 out of 100
    Rank 20 of 26

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D33 out of 100
    Rank 21 of 26

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B59 out of 100
    Rank 10 of 26

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B55 out of 100
    Rank 14 of 26

Our read on ARMY

ETF.net Research

In short

DMost defense ETFs are a bet on the Pentagon's suppliers. ARMY casts a wider net: about 40 aerospace and defense names across domestic and foreign markets with an innovation bent, for 0.68% net of a waiver through June 28, 2027.

Stated mandate

The fund pursues its investment objective by concentrating at least 80% of net assets in domestic and foreign publicly listed companies in the Aerospace and Defense sector, including defense-supporting businesses with an innovation focus.

Why people hold it

  • The mandate parks at least 80% of net assets in aerospace and defense, domestic and foreign listings alike, so non-US contractors sit alongside the familiar American primes.
  • About 40 holdings chosen with an innovation focus rather than a roster of the biggest contractors, so each name carries real weight.
  • A fee waiver runs through June 28, 2027, trimming the 0.75% gross expense ratio to 0.68% net.

Worth knowing

  • That 0.68% net sits above the typical fee in defense ETFs, and US-focused trackers run cheaper: XAR at 0.35%, ITA at 0.37%, neither leaning on a waiver.
  • Launched in September 2025, so there is little history to judge and trading has been light. Spreads deserve a look, and limit orders are the norm for funds this young.
  • About 40 stocks, overwhelmingly industrials, many listed abroad: single-name stumbles, sector swings, and currency moves all land in returns.

ARMY Performance

Launched Sep 25, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
ARMY$9,385
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. ARMY $9,385. SPY $10,141. Use the arrow keys to read each point.$9,000$10,000$11,000Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for ARMY. Periods over one year show the average yearly return.
PeriodARMY
Year to dateHistory unavailableNo data
1 month+2.7%
3 months−6.1%
1 yearHistory unavailableNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for ARMY
YearReturn barARMY
2026 YTD−14.1%

History from Mar 2, 2026

ARMY in the news

ARMY Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

ARMY Risk

Risk pillarD32 out of 100Rank 20 of 26 in Defense & Aerospace
How much the fund’s monthly returns vary, scaled to a year.
No data available
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
No data available
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
No data available
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.51
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

ARMY Cost

Compare ARMY and XAR

Overpaying vs XAR, tied cheapest in Defense & Aerospace

$6,126

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ARMY 0.68%

    $13,252

  • XAR 0.35% Tied cheapest

    $7,126

$10,000
30 years

Cost over time

  • ARMY 0.68%
  • XAR 0.35%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530ARMY $13,252XAR $7,126

Year by year

YearARMYXAROverpaying
10$1,215$634$581
20$4,633$2,454$2,179
30$13,252$7,126$6,126
How the 0.68% is worked out

Full fee 0.75%− waiver 0.07%= you pay 0.68%

The waiver ends Jun 28, 2027. After that the fee is 0.75% unless Tema renews it. Source: prospectus, Jul 2026.

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