ROYA
Tema Global Royalties ETF
ROYA is an actively managed ETF that invests in stocks of companies that derive their revenue from royalties and intellectual property income. The fund uses a bottom-up approach to select pioneering companies at perceived attractive valuations.
Fund Basics
| Fund sponsor | Dawn Global Topco Ltd. |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 17, 2023 |
| Assets (mns) | $0 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| INTERDIGITAL INC | 5.6 % |
| SILVER WHEATON CORP | 5.5 % |
| ALTIUS MINERALS CORPORATION | 5.5 % |
| ROYALTY PHARMA PLC CLASS A | 5.2 % |
| SANDSTORM GOLD LTD | 5.2 % |
| MCDONALD'S CORP | 5.2 % |
| PRAIRIESKY ROYALTY LTD | 5.0 % |
| WARNER MUSIC GROUP CORP. CLASS A | 4.8 % |
| TEXAS PACIFIC LAND CORPORATION | 4.7 % |
| UNIVERSAL MUSIC GROUP N.V. | 4.3 % |
Constituent Breakdown
| Number of holdings | 26 |
| Herfindahl-Hirschman Index | 411 |
| Wgt avg mkt cap (mns) | $25,487 |
| Large cap (>$10bn) | 35.2% |
| Mid cap ($2-10bn) | 37.8% |
| Small cap (<$2bn) | 27.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 49.4 % |
 |
CANADA | 39.5 % |
 |
NETHERLANDS | 4.3 % |
 |
AUSTRALIA | 4.0 % |
 |
DENMARK | 2.1 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 3.5% | -- | -- | -- | -- | -- | 7.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.40% |
| ADV of underlying (mns) | $2,668 |
Technical Indicators
| Recent close | $26.53 |
| 30d moving avg. | $24.87 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 56 |
| Short interest (ETF) | 24.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ROYA |
Expenses vs. ROYA |
ALTAR Score™ vs. ROYA |
|---|---|---|---|---|
| INFL | Horizon Kinetics Inflation Beneficiaries ETF | 32.5% | +10 bp | +0.4% |
| GOAU | U.S. Global GO GOLD and Precious Metal Miners ETF | 22.7% | -15 bp | +1.8% |
Risk and Returns: ROYA vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 5/3/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
ROYA
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
ROYA
4.6%
Cat. Avg
3.6%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.6% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 347 funds in the Global Equities category, with an average ALTAR Score™
of 3.6% and a standard deviation of
4.9%. ROYA's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places ROYA in the 58th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
ROYA
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
Trading data provided for free by IEX. By accessing this data you agree to abide by their Terms of Service.
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ROYA | 75.0 | 39.8 | 114.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .