Tema S&P 500 Historical Weight ETF Strategy
DSPY
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- Tema ETFs LLC (Tema) operates as a provider of actively managed exchange-traded funds (ETFs) focused on innovative thematic and strategic equity strategies. The firm offers a suite of ETFs including the Tema S&P 500 Historical Weight ETF Strategy (DSPY), which tracks a benchmark adjusting S&P 500 constituent weightings to historical average concentration levels since 1989 to mitigate top-heavy exposure; the Tema Electrification ETF (VOLT); and other products spanning healthcare, alternatives, reshoring, biotechnology, financial inclusion, environmental commodities, regulated monopolies, and dominant consumer brands. DSPY, with an expense ratio of 0.18%, holds approximately 503 equities mirroring S&P 500 rankings but capping top-10 exposure at around 22% versus the index's 39%, encompassing leading names such as Microsoft, NVIDIA, Apple, Amazon.com, and Broadcom; it trades on NYSE Arca and is benchmarked against the DSPY Total Return (DSPYTR) Index calculated by S&P Global Inc. Tema's ETFs target institutional investors including registered investment advisors, wirehouses, and family offices, providing portfolio building blocks with risk management and fundamental research emphasis. Founded in 2022 and headquartered at Brookfield Place, 200 Vesey Street, New York, New York, Tema launched its initial ETFs in 2023 following a major venture funding round co-led by Index Ventures and Accel. In April 2025, Tema introduced DSPY in association with S&P Global Inc., marking the debut of its core ETF solutions vertical and the first S&P 500 concentration innovation since the equal-weight ETF in 2003, amid plans for further core suite expansions. By August 2025, Tema surpassed $1 billion in assets under management—predominantly from institutional channels—with DSPY and VOLT collectively attracting over $700 million since their 2025 launches from minimal seed capital; the firm strengthened operations by hiring Devan O'Dowd as Head of Distribution and Ceri Llewelyn as Director of Marketing. Tema, backed by leading fintech and asset management investors, continues to leverage proprietary technology for efficient ETF issuance and thematic strategies accessible via major brokerage platforms.