{
 "ticker": "LAZR",
 "name": "Tema Optical & Photonics ETF",
 "issuer": "Tema",
 "desk": "themes",
 "url": "https://etfiq.com/funds/lazr",
 "html": "https://etfiq.com/funds/lazr",
 "markdown": "https://etfiq.com/funds/lazr.md",
 "as_of": "2026-09-11",
 "verdict": "LAZR holds 26 stocks, and 80% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "19.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "LAZR, already in the S&P 500: 19.9%, as of Sep 11, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "99.7%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "LAZR, active share vs the S&P 500: 99.7%, as of Sep 11, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "69.1%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "LAZR, top ten holdings: 69.1%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_since_launch",
   "label": "Total return, since launch",
   "value": "\u221213.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "LAZR, total return, since launch: \u221213.4%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$94m",
   "source": "issuer page, as of Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "LAZR, net assets: $94m (issuer page, as of Sep 11, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "485BPOS XBRL, Jun 29, 2026",
   "as_of": "2026-09-11",
   "sentence": "LAZR, expense ratio: 0.75% (485BPOS XBRL, Jun 29, 2026)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Photonics and optics",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jun 30, 2026",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "19.9%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "99.7%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "15.0%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "99.7%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "69.1%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "26",
   "source": null
  },
  {
   "key": "holdings_published_for",
   "label": "Holdings published for",
   "value": "Sep 11, 2026",
   "source": "the issuer\u2019s daily file"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "LUMENTUM HOLDINGS INC 15.0%, ANTHROPIC SPV EXPOSURE 13.4%, AXT INC 8.6%, AIXTRON SE 8.2%, LANDMARK OPTOELECTRONICS CORP 4.7%, APPLIED OPTOELECTRONICS INC 4.5%, FURUKAWA ELECTRIC CO LTD 4.1%, YANGTZE OPTICAL FIBRE & CABLE JOINT STOCK LTD CO 3.6%, AEHR TEST SYSTEMS 3.6%, TOWER SEMICONDUCTOR LTD 3.4%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$94m",
   "source": "issuer page, as of Sep 11, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u221213.4%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.75%",
   "source": "485BPOS XBRL, Jun 29, 2026"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.75%",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "Since launch",
   "Total return": "\u221213.4%",
   "S&P 500": "+2.4%",
   "Gap to S&P 500": "\u221215.7 pts",
   "Gap to Nasdaq-100": "\u221210.4 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of LAZR is in S&P 500 companies?",
   "a": "By its holdings published by its issuer for Sep 11, 2026, 20% of LAZR by weight is stocks the S&P 500 already holds. Its active share against the index is 100%, so that share is the part doing something different."
  },
  {
   "q": "What does LAZR hold?",
   "a": "26 positions as published by its issuer for Sep 11, 2026, with the top ten at 69% of the fund. The largest are LUMENTUM HOLDINGS INC at 15.0%, ANTHROPIC SPV EXPOSURE at 13.4%, AXT INC at 8.6%."
  },
  {
   "q": "Has LAZR beaten the S&P 500?",
   "a": "Over the year to Sep 11, 2026 LAZR returned \u221213.4% with distributions reinvested, against +2.4% for the S&P 500, so it finished behind the index by 15.7 points."
  },
  {
   "q": "What does LAZR cost?",
   "a": "The prospectus expense ratio is 0.75% a year. Because 100% of the fund differs from the S&P 500, the fee on that differing part works out at 0.75%."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}