ICOM
Tema Commodity Income ETF

Target Income & Commodity Upside

 

Why Invest in ICOM?

Commodity Upside

Seeks to capture broad commodity upside, which may hedge inflation and offer low correlation to stocks and bonds

 

Diversified Income

Targets income from energy, metals, and agricultural industries

Simplified Tax Reporting

Structured to issue Form 1099s, eliminating the hassle of K-1s for shareholders

Portfolio Highlights

shell-navy-uniform

Shell (SHEL-LN) is a global integrated energy company with one of the world’s largest LNG portfolios. Shell produces oil and gas, including from deepwater fields, and operates trading, refining, and fuel marketing businesses worldwide.

valterra-platinum-navy-uniform

Valterra Platinum (VAL SJ) is a leading South African producer of platinum group metals, including platinum, palladium, and rhodium. The company mines, smelts, and refines these metals, which are used in autos, industry, jewelry, and emerging technologies.

nutrien-navy-uniform

Nutrien (NTR) is a Canadian-based global leader in crop nutrients, producing potash, nitrogen, and phosphate fertilizers. Nutrien also runs one of the world’s largest agricultural retail networks, serving growers with products and services.

Portfolio holdings are subject to change. Review current holdings below. 

Fund Overview

Fund Details

As of October 22, 2026
Ticker
ICOM
CUSIP
87975E636
Inception Date
10/21/26
Total Expense Ratio
0.75%
AUM
$491,568
Shares Outstanding
20,000
# of Holdings
34
Primary Exchange
TXSE
Portfolio Manager
Jake Sperber

Fund Summary

The Tema Commodity Income ETF (ICOM) targets commodity upside, while offering diversified and tax-efficient income potential compared to narrow commodity strategies.

Portfolio Breakdown

Top 10 Holdings

As of October 23, 2026
Company
% of Nav
SUNCOR ENERGY INC
6.17%
ALLIANCE RESOURCE PARTNERS LP
6.14%
ENERGY TRANSFER LP
6.12%
NUTRIEN LTD
6.09%
VALTERRA PLATINUM LTD
5.50%
SHELL PLC
4.67%
GLENCORE PLC
4.43%
BHP GROUP LTD
4.21%
TOTAL SE
3.65%
WESTERN MIDSTREAM PARTNERS LP
3.56%

Country Breakdown

United States
35.61%
Canada
17.93%
United Kingdom
12.38%
Australia
7.28%
Others
26.80%

Industry Breakdown

Energy
54.63%
Materials
41.95%
Consumer Staples
3.18%
Cash & Cash Equivalents
0.23%
  • Performance
  • Distributions
  • Premium / Discount

Prices & Performance

As of
Sep 30, 2026

ICOM

3 months

1 Year

3 Years

5 Years

Since inception

NAV
Market Price

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

0.41 0

Premium/Discount

Сhart Table

ICOM NAV / Market Price

NAV$24.58
Daily Change -$0.38 -1.53%
Market Price$24.68
Daily Change -$0.28 -1.12%
Premium/Discount0.41%
30-Day Median Bid/Ask Spread0.28%
As of October 22, 2026

Portfolio Manager

Jake Sperber

Jake is an Investment Partner and Head of Commodities at Tema ETFs. He has over 20 years of institutional investment experience primarily focused on the energy, infrastructure, and commodity sectors. He most recently spent 11 years at Nuveen as a portfolio manager and lead analyst for energy infrastructure equities within a $10 billion global real assets strategy. Previously, Jake spent 9 years in leadership roles on Cargill's commodity trading desk. Jake holds both an MA in Economics and an MBA from George Washington University and a BA in History from the University of Minnesota.

Using ICOM in a Portfolio

Investment Style Box

Frame 48095809

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

3-5%

Equity Satellite

3-5-equity-1
zebra

VOLT ETF

Ellipse 625

Equity core

Where could a position be funded from?

  • From a mid cap position due to VOLT’s mid-cap growth style.
  • We believe the quality bias makes for a strong alternative or compliment to a broad index approach.
  • Mid-cap businesses typically under-represented in a portfolio, despite having a historically positive effect on risk-adjusted returns.

Fund Documents

How to Invest

*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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