Can I view a breakdown of performance by topic?

Topic-level performance data is currently not available. However, you can create ad sets that target a logical grouping of topics, and later review performance by those groupings at the ad set level. For example:

With this arrangement, you can balance contextual relevance and scale in each ad set. It is also easier to customize ads for each specific sub-theme. As your campaign delivers, you will learn which topics perform best so you can optimize your time and budget accordingly.