It is difficult to survive in the land of thematic funds. During the 15 years through Dec. 31, 2021, more than 80% of thematic funds worldwide closed their doors. Most thematic funds prove to be one-hit wonders or don't live long enough to see their investment theses pan out. Timing is a crucial element for thematic funds, and merely staying open long enough to have their time in the limelight can be critical to their long-run viability.