GDFN
Tema International Defense Innovation ETF

Investing at the New Frontier of Global Security & Defense

Share Price:

$26.63

February 13, 2026

Why Invest in GDFN?

Broad Global Tailwinds

NATO has committed to raise defense spending targets from 2% to 5% of GDP by 2035, the largest expansion in the alliance's history. Parallel buildups are underway across Asia and the Middle East.

Long-Term Growth Potential

Global defense outlays reached a record $2.7 trillion in 2024, growing at the fastest pace since the Cold War, and are projected to exceed $3.6 trillion by 2030 as nations modernize capabilities and rebuild military readiness.

SIPRI, April 2025

Research-Driven, Actively Managed

GDFN's investment process is supported by Agency Partners, a defense research boutique with a 35-year track record, helping identify companies positioned at the forefront of military modernization.

Fund Overview

Fund Details

As of February 13, 2026

Ticker

GDFN

CUSIP

87975E784

Fund Inception Date

09/25/25

Net Expense Ratio*

0.68%

Gross Expense Ratio

0.75%

Shares Outstanding

40,000

# of Holdings

Portfolio Manager

Maurits Pot

Primary Exchange

Nasdaq

*Contractual expense cap for net expense ratio of 0.68% is in effect through 06/28/2027

Fund Summary

The Tema International Defense Innovation ETF (GDFN) invests in companies critical to today’s global rearmament cycle, including Europe’s historic military buildup. The portfolio targets innovators at the forefront of defense applications for AI, cybersecurity, robotics, and more—technologies reshaping modern security.

GDFN Overview

Summary Prospectus

Portfolio Breakdown

Top 10 holdings

As of February 13, 2026

Company

% of Nav

KONGSBERG GRUPPEN ASA

5.61%

ELBIT SYSTEMS LTD

4.75%

SAAB AB

4.74%

DASSAULT AVIATION SA

4.45%

BAE SYSTEMS PLC

4.26%

RHEINMETALL AG

4.13%

HENSOLDT AG

4.11%

LEONARDO-FINMECCANICA SPA

4.04%

QINETIQ GROUP PLC

3.93%

THALES SA

3.91%

Download Holdings

Country Breakdown

United Kingdom

20.55%

Germany

18.24%

United States

17.64%

France

11.33%

Others

32.24%

Industry Breakdown

Industrials

93.21%

Information Technology

5.64%

Cash & Cash Equivalents

1.16%

Performance
Distributions
Premium / Discount

Prices & Performance

As of

Jan 31, 2026

GDFN

3 months

1 Year

3 Years

5 Years

Since inception

NAV

12.18% -9.78%

6.78% -6.37%

Market Price

12.36% -10.61%

7.21% -6.47%

Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. Returns for periods of less than one year are not annualized.

The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. The first trading date is typically several days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the first trade date because there is no bid/ask spread until the fund starts trading.

Distributions

Record Date

Ex-Date

Payable Date

Total Distribution

Income

0.07 0.18 0.33 0.4 0.28 0.37 0.18 0.14 0.22 0.25

Premium/Discount

Сhart Table

NAV / Market Price

NAV$26.61

NAV change (1D)$0.49

Median Bid/Ask Spread (30 Day)0.62%

Market Price$26.63

Market Price Change (1D)$0.46

Premium/Discount0.07%

As of: February 13, 2026

February-26 January-26 December-25 November-25 October-25 September-25

How to Buy Tema ETFs

*Neither Tema ETFs LLC nor undefined ETF are affiliated with these financial services firms. Their listing should not be viewed as a recommendation or endorsement.

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Risk Information

Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s prospectus or summary prospectus, which may be obtained by visiting www.temaetfs.com.

Read the prospectus carefully before investing.

Investors in the Fund should be willing to accept a high degree of volatility in the price of the Fund’s shares and the possibility of significant losses. An investment in the Fund involves a substantial degree of risk.

Sector Focus Risk: The Fund may invest a significant portion of its assets in one or more sectors, including Industrials, Aerospace and Defense, and thus will be more susceptible to the risks affecting those sectors than funds that have more diversified holdings across several sectors.

Investing in Foreign and emerging markets involves risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments. In addition, the fund is exposed to currency risk.

ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns are calculated using the daily 4:00pm EST net asset value (NAV). Market price returns reflect the midpoint of the bid/ask spread as of the close of trading of the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

Tema ETFs LLC serves as the investment adviser to Tema International Defense Innovation ETF (the “Fund”), and NEOS Investments, LLC serves as a sub-adviser to the Fund. The Fund is distributed by Vigilant Distributors, LLC, which is not affiliated with Tema ETFs LLC nor NEOS Investments, LLC. Check the background of Vigilant Distributors, LLC on FINRA’s BrokerCheck.

Implied Liquidity: ETF Implied liquidity is a representation of how many shares can potentially be traded daily in an ETF as portrayed by the creation unit. This is defined as the smallest value of the IDTS (Implied Daily Tradable Shares) for each holding in the creation unit.

Get in Touch

GDFN Tema International Defense Innovation ETF

$26.63

Why Invest in GDFN?

Broad Global Tailwinds

Long-Term Growth Potential

Research-Driven, Actively Managed

Fund Overview

Fund Details

As of February 13, 2026

Fund Summary

Portfolio Breakdown

Top 10 holdings

As of February 13, 2026

Country Breakdown

United Kingdom

Germany

United States

France

Others

Industry Breakdown

Industrials

Information Technology

Cash & Cash Equivalents

Prices & Performance

GDFN

3 months

1 Year

3 Years

5 Years

Since inception

Distributions

Record Date

Ex-Date

Payable Date

Total Distribution

Income

Premium/Discount

Days Traded at Nav

Days Traded at Premium

Days Traded at Discount

NAV / Market Price

Fund Documents

How to Buy Tema ETFs

Our Latest Insights

How to Build a Moat AI Can’t Disrupt

Why the Market May Be Missing GE Vernova’s Quiet Transformation

Chris Hohn's Tollkeeper Philosophy, Explained

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GDFN
Tema International Defense Innovation ETF