TMAT
Main Thematic Innovation ETF
TMAT is a fund-of-funds that rotates exposure to theme-based ETFs, selected by a committee.
Global
EQUITY
Active
MANAGEMENT STYLE
157.0 M
ASSETS UNDER MGMT
164 bp
EXPENSES
Fund Basics
| Fund sponsor | Main Management |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 29, 2021 |
| Assets (mns) | $157 |
| Expense ratio | 164 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| IONQ, INC. | 5.8 % |
| APPLOVIN CORP. CLASS A | 4.5 % |
| NVIDIA CORP | 3.9 % |
| TAIWAN SEMICONDUCTOR-SP ADR | 3.2 % |
| META PLATFORMS INC | 2.8 % |
| ROCKET LAB USA, INC. | 2.6 % |
| AFFIRM HOLDINGS, INC. CLASS A | 2.5 % |
| ROBINHOOD MARKETS, INC. CLASS A | 1.9 % |
| BROADCOM INC. | 1.7 % |
| GLOBAL-E ONLINE LTD. | 1.6 % |
Constituent Breakdown
| Number of holdings | 124 |
| Herfindahl-Hirschman Index | 159 |
| Wgt avg mkt cap (mns) | $144,051 |
| Large cap (>$10bn) | 50.8% |
| Mid cap ($2-10bn) | 33.9% |
| Small cap (<$2bn) | 14.9% |
| Developed mkts. | 92.0% |
| Emerging mkts. | 8.0% |
Country Exposure
Historical Performance
Standardized Performance (as of 12/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 24.2% | 24.2% | 28.2% | -- | -- | -- | -0.1% | Volatility | -- | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.47 | 70% |
| MSCI EAFE | 1.25 | 50% |
| MSCI Emg Mkts | 1.20 | 46% |
Liquidity Measures
| Avg. volume (000) | 24 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.26% |
| ADV of underlying (mns) | $59,648 |
Technical Indicators
| Recent close | $22.07 |
| 30d moving avg. | $21.51 |
| Annualized volatility | 30.8% |
| Relative strength (RSI) | 62 |
| Short interest (ETF) | 0.3% |
| 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. TMAT |
Expenses vs. TMAT |
ALTAR Score™ vs. TMAT |
|---|---|---|---|---|
| TRFM | AAM Transformers ETF | 19.8% | -115 bp | +2.4% |
| XNTK | SPDR NYSE Technology ETF | 18.8% | -129 bp | +5.1% |
| QTEC | First Trust NASDAQ-100 Technology Sector Index Fund | 16.8% | -107 bp | +5.3% |
| TIME | Clockwise Core Equity & Innovation ETF | 16.7% | -69 bp | +0.9% |
| SOXX | iShares Semiconductor ETF | 16.4% | -129 bp | +7.5% |
| FCTR | First Trust Lunt U.S. Factor Rotation ETF | 16.3% | -99 bp | +6.5% |
| MVPS | Amplify Thematic All-Stars ETF | 16.1% | -115 bp | +4.1% |
| IYW | iShares U.S. Technology ETF | 16.0% | -124 bp | +5.7% |
| IGM | iShares Expanded Tech Sector ETF | 15.9% | -123 bp | +5.6% |
| WTAI | WisdomTree Artificial Intelligence and Innovation Fund | 15.6% | -119 bp | +4.3% |
Risk and Returns: TMAT 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.
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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
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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 1/21/2025
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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
TMAT
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
TMAT
-1.3%
Cat. Avg
4.0%
ALTAR Score™ Calculation
Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.5%. TMAT's ALTAR Score™ is approximately
1.2 standard deviations
below
the category average. This places TMAT in the 12nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
TMATSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| TMAT (164 bp) Percentile rank | 99 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| TMAT | 164.0 | 25.8 | 189.8 |
| Peer Avg. | 71.7 | 30.3 | 102.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .