Tema Monopolies and Oligopolies ETF (TOLL)

On our desk, the ticker transition for the Tema Monopolies and Oligopolies ETF to the Tema Durable Quality ETF on June 27, 2025, was handled smoothly by prime brokers, though we are updating our compliance screening tags to reflect the new nomenclature under the same TOLL ticker symbol.

Looking at the fund's operational metrics, the Tema Durable Quality ETF (formerly Tema Monopolies and Oligopolies ETF) maintains a net asset base of approximately $51.3 million with an expense ratio of 0.55% spread across 42 holdings, averaging a daily volume around 17.2K shares according to recent ETF Guide data.

Market sentiment across various analytical forums suggests that the pivot from 'Monopolies and Oligopolies' to 'Durable Quality' broadens the marketing appeal of the TOLL ticker, aligning it more closely with standard multi-factor quality strategies while preserving its foundational investment objectives.

When evaluating the portfolio construction of TOLL, we noticed that following its rebranding from the Tema Monopolies and Oligopolies ETF, the fund strategically added Kalshi, showcasing a dynamic shift in its underlying quality-focused investment framework as detailed in Form 497K filings.

Risk managers should note that SEC filings under N-1A/A show the fund—historically known as the Tema Monopolies and Oligopolies ETF—carries distinct structural risks relative to broader benchmarks, specifically regarding how its concentrated 42-holding composition reacts to macroeconomic shifts.