ARMY
Tema International Defense ETF

Investing at the New Frontier of Global Security & Defense.

Why Invest in ARMY?

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

ARMY'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.

Portfolio Highlights

Palantir (PLTR) builds AI-powered data integration and decision-support platforms used by defense agencies and intelligence services across the US, UK, and allied nations.

Rolls-Royce (RYCEY) is a premier defense and aerospace engineering company whose turbines power a significant share of NATO combat aircraft, naval vessels, and submarines, including the propulsion systems for the UK's nuclear-armed submarine fleet.

Elbit Systems (ESLT) is Israel's largest defense electronics company, specializing in intelligence, surveillance, unmanned systems, precision munitions, and soldier modernization technologies.

Fund Overview

Fund Details

As of June 17, 2026

Ticker

ARMY

CUSIP

87975E784

Inception Date

09/25/25

Gross Expense Ratio

0.75%

Net Expense Ratio*

0.68%

AUM

$5,877,956

Shares Outstanding

240,000

Number of Holdings

Primary Exchange

Nasdaq

Portfolio Manager

Maurits Pot

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

Fund Summary

The Tema International Defense ETF (ARMY) 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.

ARMY Overview

Summary Prospectus

Portfolio Breakdown

Top 10 Holdings

As of June 18, 2026

Company

% of Nav

ROCKET LAB CORP

5.95%

ELBIT SYSTEMS LTD

5.91%

KONGSBERG GRUPPEN ASA

4.81%

DASSAULT AVIATION SA

4.29%

BAE SYSTEMS PLC

4.23%

INDRA SISTEMAS SA

4.20%

LEONARDO-FINMECCANICA SPA

4.05%

ROLLS-ROYCE HOLDINGS PLC

3.96%

CHEMRING GROUP PLC

3.89%

THALES SA

3.87%

Download Holdings (CSV)

Download Holdings (XLSX)

Country Breakdown

United Kingdom

20.49%

United States

19.57%

Germany

15.41%

France

11.32%

Others

33.21%

Industry Breakdown

Industrials

91.09%

Information Technology

6.22%

Cash & Cash Equivalents

2.66%

ETF Characteristics

As of June 17, 2026

Return on Equity

22.1%

Median Market Cap

32,020 M

Price-to-Earnings (P/E)

20.6x

Price-to-Book Value (P/BV)

4.2x

Price-to-Sales (P/S)

1.8x

Performance
Distributions
Premium / Discount

Prices & Performance

As of

May 31, 2026

ARMY

3 months

1 Year

3 Years

5 Years

Since inception

NAV

-2.19% 4.84%

5.45% -1.84%

Market Price

-1.84% 6.20%

5.74% -0.67%

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. For most recent month-end performance, please email info@temaetfs.com. 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

0.31 0.79 0.35 0.43 1.95 0.15 0.87 0.67 0.36 1.11 0.32 0.67 0.88

Premium/Discount

Сhart Table

NAV / Market Price

NAV$24.49

Daily Change $0.05 0.22%

Market Price$24.57

Daily Change ($0.07) -0.27%

Premium/Discount0.31%

30-Day Median Bid/Ask Spread0.50%

As of June 17, 2026

Full profile

Fund Manager

Maurits Pot

Maurits is Founder and CEO of Tema ETFs. Maurits previously worked at Goldman Sachs, in natural resource M&A, Vitol Group, in crude oil trading, and Kingsway Capital, investing in public equities. He holds a Bachelor’s Degree in Economics from Middlebury College.

Full profile

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.

Our Latest Insights

Stay informed with our latest research, insights, and market analysis to make better investment decisions.

Iran Conflict: Spillovers Across Sectors and Regions

Discover how the Iran conflict impacts global defense, aviation, and energy sectors, highlighting investment opportunities and economic consequences.

Czech, Please: CSG's IPO Signals Defense Boom

CSG's IPO highlights a potential defense sector boom driven by NATO spending and renewed investor interest. What are the implications for investors?

Tariffs, Tensions and the Mid-Terms: What It Means for U.S. Manufacturing

Explore how tariffs, mid-term elections, and geopolitical tensions are shaping U.S. manufacturing and investment opportunities in the current landscape.

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 ETF (the “Fund”), and Tidal 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 Tidal 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

ARMY Tema International Defense ETF

Why Invest in ARMY?

Broad Global Tailwinds

Long-Term Growth Potential

Research-Driven, Actively Managed

Portfolio Highlights

Fund Overview

Fund Details

As of June 17, 2026

Fund Summary

Portfolio Breakdown

Top 10 Holdings

As of June 18, 2026

Country Breakdown

United Kingdom

United States

Germany

France

Others

Industry Breakdown

Industrials

Information Technology

Cash & Cash Equivalents

ETF Characteristics

As of June 17, 2026

Prices & Performance

ARMY

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 Manager

Maurits Pot

Fund Documents

How to Buy Tema ETFs

Our Latest Insights

Iran Conflict: Spillovers Across Sectors and Regions

Czech, Please: CSG's IPO Signals Defense Boom

Tariffs, Tensions and the Mid-Terms: What It Means for U.S. Manufacturing

Subscribe for Updates

Risk Information

ARMY
Tema International Defense ETF