TOLL
Monopolies and Oligopolies ETF

Quality companies with dominant and durable moats

Why TOLL ETF?

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Durable

Companies with durable competitive advantages that can last decades, often benefit from stable growth that compounds returns over the long-term

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Dominant

Mission critical products and services have the potential to create immense customer value and give rise to companies with dominant market positions and few substitutes

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Tangible

Tangible moats often lead to stronger and deeper barriers to entry than intangible ones, which may help protect companies from competition

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Defensive

High tangible barriers to entry, can help create defensive and predictable earnings streams

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Quality Growth

Quality companies with dominant and durable moats have the potential to generate consistently high returns over the long-term

Fund Overview

Fund Details

As of December 05, 2024
Primary Exchange
CBOE BZX Exchange
Ticker
TOLL
AuM (USD)
$13,070,619
# of Holdings
36
Fund Inception Date
05/10/23
Gross Expense Ratio
0.55%
Net Expense Ratio
0.55%
Implied Liquidity (# of shares)
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.
14,583,125
Implied Liquidity (USD)
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.
$489M
Shares Outstanding
390,000
Investment Advisor
Tema Global Limited
Sub-Investment Advisor
NEOS Investments, LLC

Fund Summary

The actively managed Tema Monopolies and Oligopolies ETF seeks to provide long-term growth by investing in quality companies with dominant and durable moats. These companies are characterized by sustainable competitive advantages, tangible barriers to entry and defensive earnings streams. As a result, they tend to generate high returns on invested capital that compound over long periods of time.  

Portfolio Manager

Yuri Khodjamirian, CFA
CIO
Yuri Khodjamirian, CFA
Yuri spent over a decade at Majedie Asset Management managing UK and Global portfolios. As co-manager of the Majedie UK Income Fund, he helped build the fund from start-up stage, raising several billion in assets. He later set up his own long-only fund and sits on the board of a private Scandinavian biotechnology company. He holds degrees in Economics from University of Cambridge and LSE (distinction), as well as a degree in Bioscience Enterprise from University of Cambridge. Yuri is a CFA charter holder.

How does the Tema TOLL ETF fit in a portfolio?

Investment Style Box

style-box-1

Source: Tema. The investment style Box reveal’s a fund’s investment strategy by showing its investment style and market capitalization based on the fund’s portfolio holdings.

Potential Portfolio

Equity Allocation

10-20%

of Equity Core

portfolio chart-2
zebra

TOLL ETF

Ellipse 624

Satellite

Ellipse 625

Equity core

Where could a position be funded from?

  • The TOLL ETF seeks to provides exposure to quality companies with dominant and durable moats, and could serve as a replacement for a large cap blend or growth position.
  • Most equity portfolios today are heavily exposed to large and mega cap tech, and TOLL provides a way to diversify away from an overallocation to the technology sector.
  • The TOLL ETF may also act as a tax-efficient and liquid way to introduce the quality factor to a portfolio.

Portfolio Breakdown

Top 10 holdings

As of December 05, 2024
Company
% of Nav
MOODY'S CORP.
5.90%
GE AEROSPACE
5.73%
FAIR ISAAC CORP.
5.67%
INTERCONTINENTAL EXCHANGE, INC.
5.34%
VISA, INC.
5.21%
S&P GLOBAL, INC.
4.53%
THE SHERWIN-WILLIAMS CO.
4.18%
COPART, INC.
3.47%
MSCI, INC.
3.37%
INTUIT, INC.
3.29%

Country Breakdown

United States
81.94%
Canada
4.28%
Netherlands
4.13%
Ireland
2.66%
Others
6.99%

Industry Breakdown

Technology
21.83%
Industrials
19.76%
Finance
16.15%
Business Services
15.62%
Healthcare
11.76%
Non-Energy Materials
7.44%
Consumer Cyclicals
5.50%
Cash & Cash Equivalents
1.93%
  • Performance
  • Distributions
  • Premium / Discount

Prices & Performance

As of
Nov 30, 2024

TOLL

3 months

1 Year

3 Years

5 Years

Since inception

NAV
1.46% 7.51%
25.45% 36.36%
21.63% 23.92%
Market Price
1.41% 7.80%
25.55% 37.21%
22.06% 24.60%

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

ST Cap Gains

Dec 14, 2023
Dec 13, 2023
Dec 15, 2023
$0.103246
$0.103246
$0.000000
0.67 0.63 0.6 0.68 0.33 0.35 0.2 0.41 0.24 0.42 0.05 0.2 0.27 0.29 0.19 0.45 0.27 0.28 0.31 0.43 0.08

Premium/Discount

Сhart Table

TOLL NAV / Market Price

NAV$33.51
NAV change (1D)($0.40)
Median Bid/Ask Spread (30 Day)0.31%
Market Price$33.74
Market Price Change (1D)($0.38)
Premium/Discount0.67%
As of: December 05, 2024

FAQ

Which companies with moats are included in Tema’s TOLL ETF?

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Can durable moat firms generate higher returns than broader markets?

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How many holdings of high-quality companies are in Tema’s TOLL ETF?

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Are monopolies a subset of wide moat firms?

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What are the best types of investments for compounding?

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How does an ETF focused on companies with moats differ from a broad market ETF?

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What are the risks of investing in an ETF focused on quality companies with wide moats?

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What is an economic moat?

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How to buy

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