DSPY
S&P 500 Historical Weight ETF Strategy

Own the S&P 500—With Less Concentration Risk

How to Invest

Share Price:

$59.95

February 18, 2026

Factsheet

Why DSPY?

Why Invest in DSPY?

Full Exposure, Less Concentration

The top 10 stocks in the S&P 500 exceed 40% of the index, reflecting near-record concentration. DSPY reweights to historical averages, retaining a tilt toward index leaders while lowering concentration risk.

Ned Davis Research, January 2026

Avoid Equal-Weight Pitfalls

Equal-weight strategies often stray far from their cap-weighted benchmarks. DSPY offers a more balanced alternative, reducing S&P 500 concentration without the dilution of equal weighting.

Cost and Tax Efficient

DSPY is priced 75% below its Lipper peer group and is designed to minimize unnecessary turnover and capital gains.

Bloomberg, April 2025

Learn more about DSPY

Fund Overview

Fund Details

As of February 18, 2026

Ticker

DSPY

CUSIP

87975E826

Fund Inception Date

04/01/25

Net Expense Ratio

0.18%

Gross Expense Ratio

0.18%

AUM

$803,351,710

# of Holdings

505

Shares Outstanding

13,409,057

Primary Exchange

NYSE

Fund Summary

The Tema S&P 500 Historical Weight ETF Strategy (DSPY) offers S&P 500 exposure reweighted using historical averages to reduce concentration risk.

DSPY Overview

Summary Prospectus

Introducing DSPY

Portfolio Breakdown

Top 10 holdings

As of February 18, 2026

Company

% of Nav

NVIDIA CORP

4.13%

APPLE INC

2.94%

MICROSOFT CORP

1.99%

AMAZON.COM INC

1.81%

BROADCOM INC

1.66%

META PLATFORMS INC

1.58%

TESLA INC

1.41%

BERKSHIRE HATHAWAY INC

1.38%

JPMORGAN CHASE & CO.

1.33%

ELI LILLY & CO

1.31%

Download Holdings

Country Breakdown

United States

96.09%

Ireland

2.49%

Switzerland

0.46%

Cash & Cash Equivalents

0.31%

Others

0.65%

Industry Breakdown

Information Technology

24.71%

Financials

15.04%

Health Care

12.08%

Industrials

11.88%

Consumer Discretionary

9.41%

Communication Services

6.94%

Consumer Staples

6.91%

Energy

4.57%

Utilities

2.91%

Materials

2.67%

Real Estate

2.59%

Cash & Cash Equivalents

0.31%

Performance
Distributions
Premium / Discount

Prices & Performance

As of

Jan 31, 2026

DSPY

3 months

1 Year

3 Years

5 Years

Since inception

NAV

3.13% 2.30%

21.24% 18.59%

Market Price

2.99% 2.37%

21.19% 18.70%

The Tema US 500 Historical Weight Index (DSPYTR) is the benchmark for the Tema S&P 500 Historical Weight ETF. The DSPYTR Index is designed to track the historical weighted version of the S&P 500. The DSPYTR Index is calculated by S&P Global, Inc. More information on DSPYTR Index can be found by visiting the Index webpage.

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

Jun 25, 2025

Jun 27, 2025

$0.1642168

Sep 30, 2025

Oct 02, 2025

$0.06147151

Dec 23, 2025

Dec 26, 2025

$0.19167533

$0.18949469

0.07 -0.02 -0.11 0.03 0.1 -0.05 0.04 0.12 0.01 -0.05 0.03 0.05

Premium/Discount

Сhart Table

Days Traded at Nav

Days Traded at Premium

Days Traded at Discount

2025/Q1

2025/Q2

2025/Q3

2025/Q4

DSPY NAV / Market Price

NAV$59.91

NAV change (1D)$0.30

Median Bid/Ask Spread (30 Day)0.12%

Market Price$59.95

Market Price Change (1D)$0.35

Premium/Discount0.07%

As of: February 18, 2026

February-26 January-26 December-25 November-25 October-25 September-25 August-25 July-25 June-25 May-25 April-25

How can DSPY be used in a portfolio

Diversify S&P 500 exposure or replace S&P 500 Equal Weight exposure with a strategy that reduces both reliance on mega-cap stocks and tracking error compared to the S&P 500 Equal Weight.
Complement large-cap growth equity strategies with a strategy that seeks to limit concentration risk.
Replace high-fee, underperforming active strategies with an S&P 500 strategy that is based on over 35 years of historical data.

Learn More About DSPY

How to buy

*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.

Latest Research & Insights

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

The S&P 500 Has a Concentration Problem

Learn why the S&P 500's high concentration may signal broader market gains and explore strategies for balanced portfolio exposure beyond mega-cap stocks.

Read the Full Article

How to Stay Invested in the S&P 500, with Reduced Concentration Risk

Learn how to invested in the S&P 500 with reduced concentration risk, with innovative strategies like Tema's S&P 500 Historical Weight ETF Strategy (DSPY).

Read the Full Article

The DSPY ETF: S&P 500 with Reduced Concentration Risk

Reduce S&P 500 concentration risk. Discover how DSPY’s historical-weight approach balances exposure, lowers single-stock risk, and preserves index core.

Read the Full Article

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. Therefore, you should carefully consider the following risks before investing in the Fund.

Investing involves risk including possible loss of principal. There is no guarantee the adviser’s investment strategy will be successful.

Large-Capitalization Risk. Returns on investments in securities of large companies could trail the returns on investments in securities of smaller and mid-sized companies. The securities of large-capitalization companies may also be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. Large-capitalization companies may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.

Calculation Methodology Risk. The Adviser relies on various sources of information to "weight-adjust" the S&P 500, including information that may be based on assumptions and estimates. Neither the Fund nor the Adviser can offer assurances that the calculation methodology or sources of information will provide accurate "weight-adjusted" S&P 500. Errors in the S&P 500 data, S&P 500 computations or the construction of the S&P 500 in accordance with its methodology, and errors in the process of "weight-adjusting" the S&P 500 may occur from time to time and may not be identified and corrected by the Index Provider or the Adviser for a period of time or at all, which may have an adverse impact on the Fund and its shareholders.

"Standard & Poor’s," "S&P", and "S&P 500" are trademarks of Standard & Poor’s Financial Services, LLC and have been licensed for use by Tema ETFs LLC ("Tema"). Tema S&P 500® Historical Weight ETF Strategy is not sponsored, endorsed, sold, or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of investing in Tema S&P 500® Historical Weight ETF Strategy .

Tema ETFs LLC serves as the investment adviser to Tema S&P 500 Historical Weight ETF Strategy (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. For inquiries: info@temaetfs.com

Get in Touch

DSPY S&P 500 Historical Weight ETF Strategy

$59.95

Why Invest in DSPY?

Full Exposure, Less Concentration

Avoid Equal-Weight Pitfalls

Cost and Tax Efficient

Fund Overview

Fund Details

As of February 18, 2026

Fund Summary

Introducing DSPY

Portfolio Breakdown

Top 10 holdings

As of February 18, 2026

Country Breakdown

United States

Ireland

Switzerland

Cash & Cash Equivalents

Others

Industry Breakdown

Information Technology

Financials

Health Care

Industrials

Consumer Discretionary

Communication Services

Consumer Staples

Energy

Utilities

Materials

Real Estate

Cash & Cash Equivalents

Prices & Performance

DSPY

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

DSPY NAV / Market Price

How can DSPY be used in a portfolio

Documents

Regulatory Documents

Fund Documents

How to buy

Latest Research & Insights

The S&P 500 Has a Concentration Problem

How to Stay Invested in the S&P 500, with Reduced Concentration Risk

The DSPY ETF: S&P 500 with Reduced Concentration Risk

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DSPY
S&P 500 Historical Weight ETF Strategy