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Robinhood
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E-Trade
Charles Schwab
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Invest directly by choosing one of the brokers below

Brokers
Robinhood
Public
Fidelity
E-Trade
Charles Schwab
Start investing now

Invest directly by choosing one of the brokers below

Brokers
Robinhood
Public
Fidelity
E-Trade
Charles Schwab
Start investing now

Invest directly by choosing one of the brokers below

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Robinhood
Public
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E-Trade
Charles Schwab
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Invest directly by choosing one of the brokers below

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Fidelity
E-Trade
Charles Schwab
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TOLL
Monopolies and Oligopolies ETF

Quality Companies with Tangible Moats to Unlock Long-term Compounding

LEARN MORE
Share Price:

$32.44

May 02, 2025
Factsheet
How to Invest

Why Invest in TOLL ETF?

Group 48095949

Durable Quality

Companies with durable competitive advantages that support resilient growth and profitability.

Group 48095950

Tangible Moats

Identifiable, enduring moats such as railroads, toll roads, payment networks and rating agencies.

Group 48095948

Long-term Compounding

Monopolistic businesses realize tangible value creation through long-term compounding.

Fund Overview

Fund Details

As of May 02, 2025
Primary Exchange
CBOE BZX Exchange
Ticker
TOLL
AuM ($)
$53,708,427
# of Holdings
41
Fund Inception Date
05/10/23
Gross Expense Ratio
0.55%
Implied Liquidity (USD)
Source: Factset. 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. Applies only to funds in 100% equity exposure.
$372M
Shares Outstanding
1,660,000
Portfolio Manager
Yuri Khodjamirian, CFA
Investment Advisor
Tema ETFs LLC
Investment Sub-Advisor
NEOS Investments, LLC

Fund Summary

The actively managed Tema Monopolies and Oligopolies ETF seeks to provide long-term growth by investing in quality companies with dominant and durable moats. These companies are characterized by sustainable competitive advantages, tangible barriers to entry and defensive earnings streams. As a result, they tend to generate high returns on invested capital that compound over long periods of time.  
Investment Case
Summary Prospectus

Introducing TOLL

Portfolio Breakdown

Top 10 holdings

As of May 02, 2025
Company
% of Nav
VISA, INC.
6.03%
GE AEROSPACE
6.01%
INTUIT, INC.
3.82%
THE SHERWIN-WILLIAMS CO.
3.80%
FERROVIAL SE
3.64%
INTERCONTINENTAL EXCHANGE, INC.
3.63%
COPART, INC.
3.56%
CME GROUP, INC.
3.47%
FAIR ISAAC CORP.
3.40%
MOODY'S CORP.
3.22%
Download Holdings

Country Breakdown

United States
84.72%
Netherlands
5.19%
Canada
4.22%
Ireland
2.54%
Others
3.33%

Industry Breakdown

Industrials
21.43%
Technology
19.90%
Finance
17.68%
Healthcare
14.96%
Business Services
6.62%
Consumer Cyclicals
5.67%
Non-Energy Materials
5.63%
Consumer Non-Cyclicals
4.24%
Consumer Services
1.82%
Cash & Cash Equivalents
1.08%
Utilities
0.96%
  • Performance
  • Distributions
  • Premium / Discount

Prices & Performance

As of
Apr 30, 2025

TOLL

3 months

1 Year

3 Years

5 Years

Since inception

NAV
-3.94% 2.01%
9.17% 3.70%
14.39% 15.38%
Market Price
-4.10% 1.23%
9.08% 2.92%
14.69% 15.53%

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

Dec 14, 2023
Dec 13, 2023
Dec 15, 2023
$0.103246
$0.103246
$0.000000
$0.00
Dec 11, 2024
Dec 11, 2024
Dec 12, 2024
$0.63282052
$0.12082052
$0.512
$0.00
0.28 0.86 0.61 0.7 0.75 0.59 0.59 0.38 0.51 0.63 0.57 0.58 0.64 0.7 0.89 0.62 0.67 0.68 0.65 0.65 0.59 0.57 0.44

Premium/Discount

Сhart Table

TOLL NAV / Market Price

NAV$32.35
NAV change (1D)$0.60
Median Bid/Ask Spread (30 Day)0.73%
Market Price$32.44
Market Price Change (1D)$0.41
Premium/Discount0.28%
As of: May 02, 2025

How does the Tema TOLL ETF fit in a portfolio?

Investment Style Box

style-box-1

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

10-20%

of Equity Core

portfolio chart-2
zebra

TOLL ETF

Ellipse 624

Satellite

Ellipse 625

Equity core

Where could a position be funded from?

  • The TOLL ETF seeks to provides exposure to quality companies with dominant and durable moats, and could serve as a replacement for a large cap blend or growth position.
  • Most equity portfolios today are heavily exposed to large and mega cap tech, and TOLL provides a way to diversify away from an overallocation to the technology sector.
  • The TOLL ETF may also act as a tax-efficient and liquid way to introduce the quality factor to a portfolio.

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.