GDFN
Tema International Defense Innovation ETF

Invest in Global Defense Innovation.

How to Invest

Share Price:

$21.70

November 21, 2025

GDFN Factsheet

Reasons to Consider Investing in GDFN

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

Security Imperative

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

Innovative Exposure

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

Fund Overview

Fund Details

As of November 21, 2025

Ticker

GDFN

CUSIP

87975E784

Fund Inception Date

09/25/25

Gross Expense Ratio

0.75%

Net Expense Ratio*

0.68%

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) 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.

GDFM Overview

Summary Prospectus

Portfolio Breakdown

Top 10 holdings

As of November 21, 2025

Company

% of Nav

SAAB AB

6.50%

BABCOCK INTERNATIONAL GROUP PLC

6.21%

THALES SA

5.81%

RHEINMETALL AG

5.68%

DASSAULT AVIATION SA

5.67%

ELBIT SYSTEMS LTD

5.41%

LEONARDO-FINMECCANICA SPA

5.38%

HENSOLDT AG

5.38%

BAE SYSTEMS PLC

5.22%

RENK GROUP AG

4.40%

Download Holdings

Country Breakdown

United Kingdom

21.40%

Germany

18.25%

United States

15.53%

France

13.49%

Others

31.33%

Industry Breakdown

Industrials

92.90%

Information Technology

5.60%

Cash & Cash Equivalents

1.52%

Performance
Distributions
Premium / Discount

Prices & Performance

As of

Oct 31, 2025

GDFN

3 months

1 Year

3 Years

5 Years

Since inception

NAV

-4.81% 3.78%

Market Price

-4.59% 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

0.51 -0.58 0.54 0.58 0.66 0.79 0.57 0.73 0.43 0.55 0.61 0.02 0.11 -0.01 0.07

Premium/Discount

Сhart Table

NAV / Market Price

NAV$21.59

NAV change (1D)($0.69)

Median Bid/Ask Spread (30 Day)0.5%

Market Price$21.70

Market Price Change (1D)($0.45)

Premium/Discount0.51%

As of: November 21, 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.

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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 Foreside Fund Services LLC, which is not affiliated with Tema ETFs LLC nor NEOS Investments, LLC. Check the background of Foreside 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

$21.70

Reasons to Consider Investing in GDFN

Structural Catalysts

Security Imperative

Innovative Exposure

Fund Overview

Fund Details

As of November 21, 2025

Fund Summary

Portfolio Breakdown

Top 10 holdings

As of November 21, 2025

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

ST Cap Gains

LT Cap Gains

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

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GDFN
Tema International Defense Innovation ETF