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GDFN
Tema International Defense Innovation ETF

Invest in Global Defense Innovation.

How to Invest
Share Price:

$25.39

October 14, 2025
GDFN Factsheet

Reasons to Consider Investing in GDFN

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Structural Catalysts

Global defense spending rose 9.4% year-over-year to $2.7 trillion in 2024 — the fastest annual increase since the end of the Cold War. Spending is projected to grow at a 5% annualized rate, reaching $3.6 trillion by 2030.1

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Security Imperative

National security is becoming a global mission-critical priority, driving governments to future-proof advanced military systems through innovation and technology.

Group 48095969-2

Innovative Exposure

Defense and warfare are changing rapidly. Invest in defence innovators across industrials, cybersecurity, AI, drone systems.

Fund Overview

Fund Details

As of October 14, 2025
Ticker
GDFN
Fund Inception Date
09/25/25
CUSIP
87975E784
Primary Exchange
Nasdaq
Gross Expense Ratio
0.75%
Net Expense Ratio*
0.68%
Implied Liquidity
$35M
Shares Outstanding
200,000
# of Holdings
31
Portfolio Manager
Maurits Pot
Investment Advisor
Tema ETFs LLC
Investment Sub-Advisor
NEOS Investments, LLC
*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) seeks to invest in companies positioned to benefit from the increased adoption and utilization of defense technology and innovation. This includes companies that build and manage cybersecurity systems, utilize artificial intelligence and big data, and build advanced military systems and hardware such as robotics, fuel systems, and aircrafts for defense applications.
Summary Prospectus

Portfolio Breakdown

Top 10 holdings

As of October 14, 2025
Company
% of Nav
HENSOLDT AG
6.53%
RHEINMETALL AG
5.92%
SAAB AB
5.89%
THALES SA
5.69%
BABCOCK INTERNATIONAL GROUP PLC
5.67%
RENK GROUP AG
5.35%
LEONARDO SPA
5.28%
BAE SYSTEMS PLC
5.18%
DASSAULT AVIATION SA
5.08%
ELBIT SYSTEMS LTD.
4.78%
Download Holdings

Country Breakdown

United Kingdom
20.65%
Germany
20.46%
United States
16.18%
France
12.56%
Others
30.15%

Industry Breakdown

Industrials
93.97%
Technology
2.89%
Business Services
1.85%
Cash & Cash Equivalents
1.30%
  • Performance
  • Distributions
  • Premium / Discount

Prices & Performance

As of
Sep 30, 2025

GDFN

3 months

1 Year

3 Years

5 Years

Since inception

NAV
3.78% 3.78%
Market Price
4.62% 4.62%

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

LT Cap Gains

0.58 0.29 -0.26 -0.26 -0.02 0.14 0.54 0.49 0.3 0.35

Premium/Discount

Сhart Table

NAV / Market Price

NAV$25.24
NAV change (1D)($0.13)
Median Bid/Ask Spread (30 Day)0.51%
Market Price$25.39
Market Price Change (1D)($0.06)
Premium/Discount0.58%
As of: October 14, 2025

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.

Footnotes

1 Stockholm International Peace Research Institute (SIPRI). (2025, April 28).

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