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TOLL
Monopolies and Oligopolies ETF

Quality companies operating in monopolistic and oligopolistic industry structures

Why TOLL ETF?

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Mission Critical

Monopolies typically occur in industries where products and services have immense value to customers with few substitutes

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Pricing Power

Whether implicitly or explicitly, monopolies command pricing power, which can help drive earnings growth and mitigate cost pressures on margins

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Defensive

High barriers to entry, such as regulation, can help create defensive earnings streams

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Growth

Stable defensive revenue growth and prudent cost management can potentially lead to long duration earnings growth

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Quality

Businesses with sustainable competitive advantages have the potential to generate consistently high returns over the long term

Fund Overview

Fund Details

As of April 23, 2024
Primary Exchange
CBOE BZX Exchange
Ticker
TOLL
AuM (USD)
$7,506,760
# of Holdings
33
Fund Inception Date
05/10/23
Gross Expense Ratio
0.99%
Net Expense Ratio*
0.75%
Implied Liquidity (# of shares)
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.
7,869,729
Implied Liquidity (USD)
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.
$236M
Shares Outstanding
250,000
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 Monopolies and Oligopolies ETF seeks to provide long-term growth by investing in companies operating in monopolistic industry structures, characterized by sustainable competitive advantage and high explicit (e.g. regulation) and implicit (e.g. high switching costs) barriers to entry. These companies tend to generate high returns on invested capital.

Portfolio Manager

Yuri Khodjamirian, CFA
CIO
Yuri Khodjamirian, CFA
Yuri spent over a decade at Majedie Asset Management managing UK and Global portfolios. As co-manager of the Majedie UK Income Fund, he helped build the fund from start-up stage, raising several billion in assets. He later set up his own long-only fund and sits on the board of a private Scandinavian biotechnology company. He holds degrees in Economics from University of Cambridge and LSE (distinction), as well as a degree in Bioscience Enterprise from University of Cambridge. Yuri is a CFA charter holder.

How does the Tema TOLL ETF fit in a portfolio?

Investment Style Box

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

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 provides exposure to quality businesses and could act as a quality factor add in a portfolio.
  • The TOLL ETF has a large-cap growth style.
  • The TOLL ETF is a defensive quality equity exposure that still enjoys the potential for long-term growth.

Portfolio Breakdown

Top 10 holdings

As of April 23, 2024
Company
% of Nav
GE AEROSPACE
6.02%
VISA, INC.
5.18%
MOODY'S CORP.
5.15%
INTERCONTINENTAL EXCHANGE, INC.
5.06%
S&P GLOBAL, INC.
4.11%
AIRBUS SE
3.78%
INTUIT, INC.
3.57%
COPART, INC.
3.40%
VULCAN MATERIALS CO.
3.28%
TYLER TECHNOLOGIES, INC.
3.26%

Country Breakdown

United States
73.26%
Canada
6.20%
France
6.20%
Netherlands
5.72%
Others
8.62%

Industry Breakdown

Industrials
23.07%
Technology
22.13%
Business Services
16.37%
Finance
15.59%
Healthcare
12.25%
Non-Energy Materials
6.50%
Consumer Cyclicals
3.40%
Cash & Cash Equivalents
0.70%
  • Performance
  • Distributions
  • Premium / Discount

Prices & Performance

As of
Mar 31, 2024

TOLL

3 months

1 Year

3 Years

5 Years

Since inception

NAV
10.18% 10.18%
26.42% 26.42%
Market Price
10.93% 10.93%
27.70% 27.70%

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
$0.103246
$0.103246
$0.000000
0.61 0.6 0.51 0.48 0.71 0.77 0.5 0.52 0.78 0.68 0.55 0.53 0.62 0.47 0.62 0.71 0.86

Premium/Discount

Сhart Table

TOLL NAV / Market Price

NAV$30.03
NAV change (1D)$0.42
Median Bid/Ask Spread (30 Day)0.37%
Market Price$30.21
Market Price Change (1D)$0.42
Premium/Discount0.61%
As of: April 23, 2024

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.