$LAZR vs $LYTE

The short version

LYTE is cheaper to own, at 0.65% a year versus 0.75%. LYTE is the bigger fund, with $343M in assets. LAZR has been around longer, launching on June 30, 2026.

LAZR

The Tema Photonics & Optical ETF invests in global photonics and optical technology companies tied to AI data movement, including optical interconnect, semiconductor technology and related equipment and materials. Tema launched it with research input from semiconductor analysis firm SemiAnalysis. LAZR has also held a position in privately held AI company Anthropic, which is unusual for an ETF. Private positions are valued differently from listed stocks and can be harder to trade, so read the prospectus on how they are handled.

LYTE

The Roundhill Photonics & Optics ETF focuses on the optical side of the AI infrastructure build: optical interconnects, lasers and photonic chips that move data with light inside AI data centers. At launch its top holdings included Lumentum, Coherent, Ciena and Fabrinet, plus China-listed optical module makers such as Eoptolink and Zhongji Innolight. A concentrated top ten and a large weight in China-listed optical module makers mean LYTE can move very differently from a broad semiconductor fund. Position sizes can change quickly in an actively managed fund.

Lower fees and more assets are helpful, but they are not the whole story. The bigger question is which strategy matches what you want to own. This comparison is not a recommendation to buy or sell either fund.