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WELD vs. EWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WELD vs. EWY

Last updated Jul 18, 2026
Documentation

WELD (Tema U.S. Manufacturing & Reshoring ETF) and EWY (iShares MSCI South Korea ETF) are both exchange-traded funds - WELD is a Industrials Equities fund actively managed by Tema, while EWY is a South Korea Equities fund tracking the MSCI Korea Index. WELD is actively managed, while EWY is passively managed. Their correlation of 0.84 suggests significant overlap in exposure. WELD charges 0.75%/yr vs 0.59%/yr for EWY.

Performance

WELD vs. EWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema U.S. Manufacturing & Reshoring ETF (WELD) and iShares MSCI South Korea ETF (EWY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

WELD

1D
-0.45%
1M
—
6M
—
YTD
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

EWY

1D
-0.50%
1M
-20.74%
6M
44.84%
YTD
67.19%
1Y
127.47%
3Y*
37.38%
5Y*
14.75%
10Y*
13.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WELD vs. EWY - Yearly Performance Comparison

2026 (YTD)
WELD
Tema U.S. Manufacturing & Reshoring ETF		-11.04%
EWY
iShares MSCI South Korea ETF		-25.85%

Correlation

The correlation between WELD and EWY is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (All Time)
Calculated using the full available price history since Jun 22, 2026

0.84

WELD vs. EWY - Sectors Allocation Comparison

Sectors
WELD
EWY

Industrials

73.5%
14.5%

Technology

12.9%
60.9%

Basic Materials

8.5%
2.0%

Consumer Cyclical

3.0%
4.8%

Energy

1.0%
0.6%

Communication Services

-

2.2%

Consumer Defensive

-

1.8%

Financial Services

-

8.9%

Healthcare

-

3.1%

Real Estate

-

-

Utilities

-

0.3%

Industrials

WELD
73.5%
EWY
14.5%

Technology

WELD
12.9%
EWY
60.9%

Basic Materials

WELD
8.5%
EWY
2.0%

Consumer Cyclical

WELD
3.0%
EWY
4.8%

Energy

WELD
1.0%
EWY
0.6%

Communication Services

WELD

-

EWY
2.2%

Consumer Defensive

WELD

-

EWY
1.8%

Financial Services

WELD

-

EWY
8.9%

Healthcare

WELD

-

EWY
3.1%

Real Estate

WELD

-

EWY

-

Utilities

WELD

-

EWY
0.3%

Compare stocks, funds, or ETFs

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Tema U.S. Manufacturing & Reshoring ETF

iShares MSCI South Korea ETF

Often compared with WELD:
WELD vs. NASAWELD vs. AIRRWELD vs. ITOLWELD vs. DSPYWELD vs. VOLTWELD vs. HVACWELD vs. PKB
Often compared with EWY:
EWY vs. FLKREWY vs. SPYEWY vs. EWJEWY vs. KORUEWY vs. EWTEWY vs. QQQEWY vs. EWH

Return for Risk

WELD vs. EWY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WELD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

EWY
EWY Risk / Return Rank: 8787
Overall Rank
EWY Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
EWY Sortino Ratio Rank: 7676
Sortino Ratio Rank
EWY Omega Ratio Rank: 8383
Omega Ratio Rank
EWY Calmar Ratio Rank: 9393
Calmar Ratio Rank
EWY Martin Ratio Rank: 9090
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WELD vs. EWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema U.S. Manufacturing & Reshoring ETF (WELD) and iShares MSCI South Korea ETF (EWY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

WELDEWYDifference
Sharpe ratioReturn per unit of total volatility

—

2.48

—

Sortino ratioReturn per unit of downside risk

—

2.75

—

Omega ratioGain probability vs. loss probability

—

1.39

—

Calmar ratioReturn relative to maximum drawdown

—

4.96

—

Martin ratioReturn relative to average drawdown

—

16.04

—

WELD vs. EWY - Sharpe Ratio Comparison

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Drawdowns

WELD vs. EWY - Drawdown Comparison

The maximum WELD drawdown since its inception was -11.04%, smaller than the maximum EWY drawdown of -74.14%. Use the drawdown chart below to compare losses from any high point for WELD and EWY.

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Drawdown Indicators

WELDEWYDifference

Max Drawdown

Largest peak-to-trough decline

-11.04%

-74.14%

+63.10%

Max Drawdown (1Y)

Largest decline over 1 year

—

-25.85%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-27.36%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-47.15%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-49.73%

—

Current Drawdown

Current decline from peak

-11.04%

-25.85%

+14.81%

Average Drawdown

Average peak-to-trough decline

-7.35%

-20.09%

+12.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

7.98%

—

Volatility

WELD vs. EWY - Volatility Comparison

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Volatility by Period

WELDEWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

22.92%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

48.49%

—

Volatility (1Y)

Calculated over the trailing 1-year period

33.23%

51.63%

-18.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.23%

31.92%

+1.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.23%

28.89%

+4.34%

WELD vs. EWY - Expense Ratio Comparison

WELD has a 0.75% expense ratio, which is higher than EWY's 0.59% expense ratio.

Dividends

WELD vs. EWY - Dividend Comparison

WELD has not paid dividends to shareholders, while EWY's dividend yield for the trailing twelve months is around 1.25%.

PositionTTM20252024202320222021202020192018201720162015
EWY
iShares MSCI South Korea ETF		1.25%2.10%2.55%2.52%1.23%2.16%0.73%2.10%1.34%2.90%1.21%2.42%
WELD
Tema U.S. Manufacturing & Reshoring ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

WELD and EWY have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EWY is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EWY is cheaper with a 0.59% expense ratio, compared with 0.75% for WELD.

EWY has the higher dividend yield at 1.25%, compared with 0.00% for WELD.

WELD is categorized as Industrials Equities, while EWY is South Korea Equities. They also come from different issuers: Tema and iShares. Their fees differ too: 0.75% for WELD and 0.59% for EWY.

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