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Launched · SEC filings

Tema S&P 500 Historical Weight ETF Strategy

DSPYNYSE ArcaTemaB

$65.42−0.45 (−0.68%)

As of Nov 10, 2026, 11:21 AM ET

B58/ 100

Rank 17 of 29 in US Large-Cap

B58/100Rank 17 of 29inUS Large-Cap
Intraday session: down, 23 prints from 65.87 to 65.42. Range 65.32 to 65.65. Use the arrow keys to read each point.65.3065.5065.6065.7065.8010 AM12 PM2 PM4 PM
Expense ratio
0.18%
Fund size
$987M
1Y total return
+16.2%
Yield · Last 12 months
0.94%
Holdings
504
Avg volume · 30D
10.6K sh
52W range
low $55.66high $68.42
Launched
Filings
SEC EDGAR

The ETF.net DSPY Grade

Based on 5 of 6 pillars

B

Score 58 out of 100

Category
US Large-Cap⁠
Rank
17 of 29
Six-pillar profile for DSPY. Scores out of 100: Cost 57, Risk 69, Mission not scored, Tradability 39, Holdings 81, Durability 53. Strongest: Holdings (81). Weakest: Tradability (39). Based on 5 of 6 pillars.

Score 58 of 100 falls in the B 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.
    B57 out of 100
    Rank 13 of 29

  • 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.
    B69 out of 100
    Rank 3 of 29

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D39 out of 100
    Rank 18 of 29

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A81 out of 100
    Rank 2 of 28

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 14 of 29

Our read on DSPY

ETF.net Research

In short

BMost S&P 500 funds either ride today's market caps or flatten everyone to equal weight. DSPY splits the difference, holding the same roughly 500 names at their average weights since 1989, so the mega-caps shrink without disappearing.

Stated mandate

The Fund seeks long-term growth through a historical-weight interpretation of the S&P 500 Index.

Why people hold it

  • The mechanism is the whole pitch: each S&P 500 member is sized at its long-run average weight since 1989, trimming today's top-heavy tilt without going all the way to equal weight.wboc.com
  • 0.18% a year, a fraction of the typical active US equity fund and level with the cheap end of active core large-cap (FELC 0.18%, versus DYNF at 0.26%).
  • Full index breadth, about 500 stocks, with quarterly distributions. It re-slices the S&P 500 rather than trying to pick which names win.
  • On cost and portfolio construction it stands out as one of the stronger builds in a crowded active US equity field.

Worth knowing

  • Launched in 2025, so the live record is short next to decades-old core index funds, and there is limited history to judge the weighting rule through a full cycle.
  • Volume is light next to the giant S&P 500 funds, so spreads and limit orders matter more than they would in a mega-cap tracker.
  • By design it holds different weights than the cap-weighted S&P 500, so its results separate from the benchmark most people mean when they say 'the S&P 500'.stockanalysis.com

DSPY Holdings

Holdings pillarA81 out of 100Rank 2 of 28 in US Large-Cap
Asset class
Stocks
Holdings
504
Top-10 weight
21%
Largest holding
NVDA3.6%

Sectors

  • Technology27.8%
  • Financials15.3%
  • Health Care13.0%
  • Industrials9.9%
  • Consumer Discretionary9.2%
  • Consumer Staples6.7%
  • Communication6.1%
  • Energy4.5%
  • Utilities2.8%
  • Real Estate2.6%
  • Materials2.2%

Geography

  • United States99.29%
  • Switzerland0.41%
  • China0.13%
  • Mexico0.07%
  • Ireland0.05%
  • United Kingdom0.05%
The fund’s holdings, weight-ordered — page 1 of 34.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1NVDANVIDIA Corp3.62%191,356$35.7M846
2AAPLApple Inc3.50%100,970$34.6M725
3MSFTMicrosoft Corp2.70%50,268$26.7M828
4AMZNAmazon.com Inc2.13%81,162$21M736
5METAMeta Platforms Inc1.64%26,484$16.2M713
6BRK.BBerkshire Hathaway Inc1.61%27,801$15.9M380
7LLYEli Lilly & Co1.55%11,260$15.2M596
8AVGOBroadcom Inc1.54%51,643$15.2M746
9TSLATesla Inc1.47%40,504$14.5M528
10JPMJPMorgan Chase & Co.1.31%38,623$12.9M486
11VVisa Inc1.23%28,791$12.2M568
12JNJJohnson & Johnson1.19%42,374$11.7M532
13XOMExxonmobil Holdings Corp1.16%68,917$11.4M524
14MUMicron Technology Inc1.14%16,318$11.3M688
15WMTWalmart Inc1.12%87,798$11M475

Showing 1–15 of 504 holdings

DSPY Performance

Launched Apr 1, 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.
DSPY$11,624
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. DSPY $11,624. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000$12,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 DSPY. Periods over one year show the average yearly return.
PeriodDSPY
Year to date+13.7%
1 month−1.9%
3 months−1.7%
1 year+16.2%
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 DSPY
YearReturn barDSPY
2026 YTD+13.7%
2025+18.5%

Since listing, Apr 1, 2025

DSPY in the news

DSPY Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.94%Last 12 months
Payout per share
$0.62Last 12 months
Last payment
$0.19 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 6 payments from 2025 to 2026 YTD. Jun 25, 2025 $0.16; Sep 30, 2025 $0.06; Dec 23, 2025 $0.19; Mar 25, 2026 $0.07; Jun 24, 2026 $0.17; Sep 29, 2026 $0.19. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 29, 2026Oct 1, 2026$0.19
Jun 24, 2026Jun 26, 2026$0.17
Mar 25, 2026Mar 27, 2026$0.07
Dec 23, 2025Dec 26, 2025$0.19
Sep 30, 2025Oct 2, 2025$0.06
Jun 25, 2025Jun 27, 2025$0.16

$10,000 in DSPY 1 year ago paid $106 in dividends.

DSPY Risk

Risk pillarB69 out of 100Rank 3 of 29 in US Large-Cap
How much the fund’s monthly returns vary, scaled to a year.
10.4%
Annualised · 18 months to Oct 2026
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.
1.69
vs 3-month T-bills · 18 months to Oct 2026
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.
−12.2%
19 months · trough Apr 2025
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.
0.82
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.

DSPY Cost

Compare DSPY and BKLC

Overpaying vs BKLC, cheapest in US Large-Cap

$3,749

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

  • DSPY 0.18%

    $3,749

  • BKLC 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • DSPY 0.18%
  • BKLC 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530DSPY $3,749BKLC $0

Year by year

YearDSPYBKLCOverpaying
10$328$0$328
20$1,281$0$1,281
30$3,749$0$3,749

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