ROYA
Global Royalties ETF

Companies extracting royalty streams from music catalogues, pharmaceutical assets and natural resources

Why ROYA ETF?

Differentiated commodity exposure

Royalties can provide exposure to the revenue streams of a collection of assets related to commodities such as gold, oil and gas, and base metals

Capital light and scalable

Royalties provide scalable exposure to cash flow streams while mitigating operational and financial risks

Contractual real income

The contractual, inflation-sheltered cash flow stream of a royalty business allows it to pay out competitive and compelling real dividend income

Alternative asset class features

Royalties are typically structured products that provide exposure to unique private assets, like pharmaceutical patents and intellectual property, while minimizing dilution risk

Inflation hedge

Inflationary environments will typically benefit royalty companies as they earn cash flow directly from revenue lines, that benefit from rising prices

Fund Overview

Fund Details

As of April 26, 2024

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Primary Exchange

CBOE BZX Exchange

Ticker

ROYA

AuM (USD)

$265,414

# of Holdings

Fund Inception Date

08/16/23

Gross Expense Ratio

0.99%

Net Expense Ratio*

0.75%

Implied Liquidity (# of shares)

308,302

Implied Liquidity (USD)

$8M

Shares Outstanding

10,000

Investment Advisor

Tema Global Limited

Sub-Investment Advisor

NEOS Investments, LLC

*Contractual expense cap for net expense ratio of 0.75% is in effect through 06/30/2025.

Fund Summary

The actively managed Tema Global Royalties ETF seeks to provide a balance of long-term growth and current income by investing in listed royalty companies that provide structured exposure to revenue streams from commodities, pharmaceutical, entertainment and intellectual property assets. Royalty companies earn a share of future revenues in exchange for investment. Royalties accrue directly from the revenue line of an underlying asset, underscoring their scalability while avoiding most operational and financial risks. As such, these businesses are able to generate contractual real income for investors.

Portfolio Manager

Investment Partner
Chris Semenuk

Full profile

Chris is a global fund manager with more than 25 years of experience, 20 of which was spent managing a $5 bln global equities fund at TIAA, a leading US based financial services company. Chris managed the fund since inception and raised several billion dollars in assets over that time period. Chris has a Bachelor's Degree in Economics from Union College in New York State.

How does the Tema ROYA ETF fit in a portfolio?

Investment Style Box

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

5-10%

Equity, Commodities, & Alternatives

ROYA ETF - Equity

ROYA ETF - Alternatives

Equity

Fixed Income

Commodities & Alts

Where could a position be funded from?

Could be funded from an existing broad market equity exposure.
Could be funded from a commodities and alternatives exposure.
May play an income provider role in a portfolio

Portfolio Breakdown

Top 10 holdings

As of April 26, 2024

Company

% of Nav

INTERDIGITAL, INC.

5.77%

ALTIUS MINERALS CORP.

5.63%

WHEATON PRECIOUS METALS CORP.

5.60%

SANDSTORM GOLD LTD.

5.23%

MCDONALD'S CORP.

5.14%

ROYALTY PHARMA PLC

5.13%

PRAIRIESKY ROYALTY LTD.

4.77%

TEXAS PACIFIC LAND CORP.

4.71%

WARNER MUSIC GROUP CORP.

4.60%

UNIVERSAL MUSIC GROUP NV

4.34%

Download Holdings

Country Breakdown

United States

49.22%

Canada

39.53%

Netherlands

4.34%

Australia

4.10%

Others

2.81%

Industry Breakdown

Non-Energy Materials

35.27%

Finance

26.03%

Consumer Services

14.08%

Technology

13.86%

Healthcare

9.96%

Cash & Cash Equivalents

0.77%

NA

0.03%

Performance
Distributions
Premium / Discount

Prices & Performance

As of

Mar 31, 2024

ROYA

3 months

1 Year

3 Years

5 Years

Since inception

NAV

3.64% 3.64%

6.42% 6.42%

Market Price

3.50% 3.50%

6.29% 6.29%

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

Dec 14, 2023

Dec 13, 2023

Dec 15, 2023

$0.166852

$0.000000

-0.02 -0.15 -0.11 -0.07 -0.01 -0.04 -0.15 0.1 0.05 0.12 -0.14 -0.06 -0.13 -0.12 0.02 -0.01 -0.05 0.03 -0.08 -0.07

Premium/Discount

Сhart Table

ROYA NAV / Market Price

NAV$26.54

NAV change (1D)$0.19

Median Bid/Ask Spread (30 Day)0.41%

Market Price$26.54

Market Price Change (1D)$0.22

Premium/Discount-0.02%

As of: April 26, 2024

April-24 March-24 February-24 January-24 December-23 November-23 October-23 September-23 August-23

How to buy

*Neither Tema Global Limited nor undefined ETF are affiliated with these financial services firms. Their listing should not be viewed as a recommendation or endorsement.

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.

Diversification does not ensure profits or prevent losses.

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

Royalty Trust Structure Risk: the success of the fund is heavily dependent on royalty investments including investments in Royalty Income Trusts (RITs). Cash flows from royalty income can be contingent on the production of energy commodities. As such, the level of income received can be volatile as commodity prices, production levels, and production costs all vary wildly. Another consideration is that some royalty investments own intellectual property. In those cases, the trust could be subject to changes in intellectual property laws, which can impact the value of the assets held by the trust. Royalty trusts generally do not guarantee minimum distributions or even return of capital. Finally, Royalty Income Investments are still subject to market risks, such as interest rate fluctuations, currency risks, and overall market volatility.

Industry Concentration Risk: because the Fund's assets will be concentrated in an industry or group of industries, the Fund is subject to loss due to adverse occurrences that may affect that industry or group of industries.

Sector Focus Risk: the Fund may invest a significant portion of its assets in one or more sectors and thus will be more susceptible to the risks affecting those sectors than funds that have more diversified holdings across a number of sectors. The Fund anticipates that it may be subject to some or all of the risks described below.

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.

Because the Fund evaluates ESG factors to assess and exclude certain investments for non-financial reasons, the Fund may forego some market opportunities available to funds that do not use these ESG factors.

Tema Global Limited serves as the investment adviser to Tema Global Royalties 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 Global Limited nor NEOS Investments, LLC. Check the background of Foreside on FINRA’s BrokerCheck.

ROYA Global Royalties ETF

Why ROYA ETF?

Differentiated commodity exposure

Capital light and scalable

Contractual real income

Alternative asset class features

Inflation hedge

Fund Overview

Fund Details

As of April 26, 2024

Fund Summary

Portfolio Manager

Investment Partner Chris Semenuk

Fund Documents

How does the Tema ROYA ETF fit in a portfolio?

Investment Style Box

Potential Portfolio

Equity Allocation

5-10%

Equity, Commodities, & Alternatives

Where could a position be funded from?

Portfolio Breakdown

Top 10 holdings

As of April 26, 2024

Country Breakdown

United States

Canada

Netherlands

Australia

Others

Industry Breakdown

Non-Energy Materials

Finance

Consumer Services

Technology

Healthcare

Cash & Cash Equivalents

NA

Prices & Performance

ROYA

3 months

1 Year

3 Years

5 Years

Since inception

Distributions

Record Date

Ex-Date

Payable Date

Total Distribution

Income

ST Cap Gains

Premium/Discount

Days Traded at Nav

Days Traded at Premium

Days Traded at Discount

ROYA NAV / Market Price

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ROYA
Global Royalties ETF

Investment Partner
Chris Semenuk