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WELD vs. GRID
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WELD vs. GRID

Last updated Jul 18, 2026
Documentation

WELD (Tema U.S. Manufacturing & Reshoring ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - WELD is a Industrials Equities fund actively managed by Tema, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. WELD is actively managed, while GRID is passively managed. A 0.77 correlation means they provide meaningful diversification when combined. WELD charges 0.75%/yr vs 0.70%/yr for GRID.

Performance

WELD vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema U.S. Manufacturing & Reshoring ETF (WELD) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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*
—

GRID

1D
0.10%
1M
-6.53%
6M
12.20%
YTD
16.76%
1Y
25.42%
3Y*
19.38%
5Y*
15.54%
10Y*
18.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WELD vs. GRID - Yearly Performance Comparison

2026 (YTD)
WELD
Tema U.S. Manufacturing & Reshoring ETF		-11.04%
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		-8.28%

Correlation

The correlation between WELD and GRID is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.77

WELD vs. GRID - Sectors Allocation Comparison

Sectors
WELD
GRID

Industrials

73.5%
25.4%

Technology

12.9%
11.9%

Basic Materials

8.5%
0.8%

Consumer Cyclical

3.0%
2.4%

Energy

1.0%
1.6%

Communication Services

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Utilities

-

4.0%

Industrials

WELD
73.5%
GRID
25.4%

Technology

WELD
12.9%
GRID
11.9%

Basic Materials

WELD
8.5%
GRID
0.8%

Consumer Cyclical

WELD
3.0%
GRID
2.4%

Energy

WELD
1.0%
GRID
1.6%

Communication Services

WELD

-

GRID

-

Consumer Defensive

WELD

-

GRID

-

Financial Services

WELD

-

GRID

-

Healthcare

WELD

-

GRID

-

Real Estate

WELD

-

GRID

-

Utilities

WELD

-

GRID
4.0%

Compare stocks, funds, or ETFs

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Tema U.S. Manufacturing & Reshoring ETF

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

Often compared with WELD:
WELD vs. NASAWELD vs. AIRRWELD vs. ITOLWELD vs. DSPYWELD vs. VOLTWELD vs. HVACWELD vs. PKB
Often compared with GRID:
GRID vs. ICLNGRID vs. NLRGRID vs. VOOGRID vs. POWRGRID vs. VOLTGRID vs. PAVEGRID vs. FIW

Return for Risk

WELD vs. GRID — 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.

GRID
GRID Risk / Return Rank: 4444
Overall Rank
GRID Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
GRID Sortino Ratio Rank: 3737
Sortino Ratio Rank
GRID Omega Ratio Rank: 3838
Omega Ratio Rank
GRID Calmar Ratio Rank: 5454
Calmar Ratio Rank
GRID Martin Ratio Rank: 5050
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. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema U.S. Manufacturing & Reshoring ETF (WELD) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

WELDGRIDDifference
Sharpe ratioReturn per unit of total volatility

—

1.16

—

Sortino ratioReturn per unit of downside risk

—

1.63

—

Omega ratioGain probability vs. loss probability

—

1.21

—

Calmar ratioReturn relative to maximum drawdown

—

2.18

—

Martin ratioReturn relative to average drawdown

—

6.68

—

WELD vs. GRID - Sharpe Ratio Comparison

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Drawdowns

WELD vs. GRID - Drawdown Comparison

The maximum WELD drawdown since its inception was -11.04%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for WELD and GRID.

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Drawdown Indicators

WELDGRIDDifference

Max Drawdown

Largest peak-to-trough decline

-11.04%

-40.56%

+29.52%

Max Drawdown (1Y)

Largest decline over 1 year

—

-11.73%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-20.62%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-29.64%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.56%

—

Current Drawdown

Current decline from peak

-11.04%

-10.63%

-0.41%

Average Drawdown

Average peak-to-trough decline

-7.35%

-8.41%

+1.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.82%

—

Volatility

WELD vs. GRID - Volatility Comparison

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Volatility by Period

WELDGRIDDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

8.77%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

19.36%

—

Volatility (1Y)

Calculated over the trailing 1-year period

33.23%

22.18%

+11.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.23%

21.53%

+11.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.23%

22.71%

+10.52%

WELD vs. GRID - Expense Ratio Comparison

WELD has a 0.75% expense ratio, which is higher than GRID's 0.70% expense ratio.

Dividends

WELD vs. GRID - Dividend Comparison

WELD has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.80%.

PositionTTM20252024202320222021202020192018201720162015
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		0.80%1.01%1.06%1.23%1.26%0.63%0.68%1.26%1.28%1.07%1.07%1.23%
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 GRID have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, GRID is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

GRID is cheaper with a 0.70% expense ratio, compared with 0.75% for WELD.

GRID has the higher dividend yield at 0.80%, compared with 0.00% for WELD.

WELD is categorized as Industrials Equities, while GRID is Alternative Energy Equities. They also come from different issuers: Tema and First Trust. Their fees differ too: 0.75% for WELD and 0.70% for GRID.

Portfolio Optimizer

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