WELD vs. HVAC
WELD (Tema U.S. Manufacturing & Reshoring ETF) and HVAC (AdvisorShares HVAC and Industrials ETF) are both Industrials Equities funds. Both are actively managed. At a 0.20 correlation, their price movements are largely independent. WELD charges 0.75%/yr vs 1.00%/yr for HVAC.
Performance
WELD vs. HVAC - Performance Comparison
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Returns By Period
WELD
- 1D
- -2.82%
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HVAC
- 1D
- -6.31%
- 1M
- -1.24%
- YTD
- 28.50%
- 6M
- 24.67%
- 1Y
- 43.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WELD vs. HVAC - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
WELD Tema U.S. Manufacturing & Reshoring ETF | -5.19% |
HVAC AdvisorShares HVAC and Industrials ETF | -5.53% |
Correlation
The correlation between WELD and HVAC is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 22, 2026 | 0.20 |
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Return for Risk
WELD vs. HVAC — Risk / Return Rank
WELD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HVAC
WELD vs. HVAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema U.S. Manufacturing & Reshoring ETF (WELD) and AdvisorShares HVAC and Industrials ETF (HVAC). 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.
| WELD | HVAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.05 | — |
| Martin ratioReturn relative to average drawdown | — | 10.21 | — |
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Drawdowns
WELD vs. HVAC - Drawdown Comparison
The maximum WELD drawdown since its inception was -6.34%, smaller than the maximum HVAC drawdown of -21.22%. Use the drawdown chart below to compare losses from any high point for WELD and HVAC.
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Drawdown Indicators
| WELD | HVAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.34% | -21.22% | +14.88% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.83% | — |
Current DrawdownCurrent decline from peak | -5.19% | -7.92% | +2.73% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -3.98% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.41% | — |
Volatility
WELD vs. HVAC - Volatility Comparison
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Volatility by Period
| WELD | HVAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.90% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 25.41% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 46.79% | 30.03% | +16.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.79% | 30.70% | +16.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.79% | 30.70% | +16.09% |
WELD vs. HVAC - Expense Ratio Comparison
WELD has a 0.75% expense ratio, which is lower than HVAC's 1.00% expense ratio.
Dividends
WELD vs. HVAC - Dividend Comparison
WELD has not paid dividends to shareholders, while HVAC's dividend yield for the trailing twelve months is around 0.15%.
| Position | TTM | 2025 |
|---|---|---|
HVAC AdvisorShares HVAC and Industrials ETF | 0.15% | 0.19% |
WELD Tema U.S. Manufacturing & Reshoring ETF | 0.00% | 0.00% |
Frequently Asked Questions
WELD and HVAC have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WELD is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WELD is cheaper with a 0.75% expense ratio, compared with 1.00% for HVAC.
HVAC has the higher dividend yield at 0.15%, compared with 0.00% for WELD.
They also come from different issuers: Tema and AdvisorShares. Their fees differ too: 0.75% for WELD and 1.00% for HVAC.
Find the right allocation for WELD and HVAC
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