WELD vs. MADE
WELD (Tema U.S. Manufacturing & Reshoring ETF) and MADE (iShares U.S. Manufacturing ETF) are both Industrials Equities funds. WELD is actively managed, while MADE is passively managed. A 0.70 correlation means they provide meaningful diversification when combined. WELD charges 0.75%/yr vs 0.40%/yr for MADE.
Performance
WELD vs. MADE - Performance Comparison
Loading charts...
Returns By Period
WELD
- 1D
- -2.82%
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MADE
- 1D
- -3.02%
- 1M
- 1.11%
- YTD
- 22.57%
- 6M
- 20.30%
- 1Y
- 44.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WELD vs. MADE - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
WELD Tema U.S. Manufacturing & Reshoring ETF | -5.19% |
MADE iShares U.S. Manufacturing ETF | -2.23% |
Correlation
The correlation between WELD and MADE is 0.70, 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 | 0.70 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WELD vs. MADE — Risk / Return Rank
WELD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MADE
WELD vs. MADE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema U.S. Manufacturing & Reshoring ETF (WELD) and iShares U.S. Manufacturing ETF (MADE). 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 | MADE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.42 | — |
| Martin ratioReturn relative to average drawdown | — | 14.66 | — |
Loading charts...
Drawdowns
WELD vs. MADE - Drawdown Comparison
The maximum WELD drawdown since its inception was -6.34%, smaller than the maximum MADE drawdown of -23.79%. Use the drawdown chart below to compare losses from any high point for WELD and MADE.
Loading charts...
Drawdown Indicators
| WELD | MADE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.34% | -23.79% | +17.45% |
Max Drawdown (1Y)Largest decline over 1 year | — | -13.43% | — |
Current DrawdownCurrent decline from peak | -5.19% | -3.49% | -1.70% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -3.88% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.13% | — |
Volatility
WELD vs. MADE - Volatility Comparison
Loading charts...
Volatility by Period
| WELD | MADE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.71% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 18.61% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 46.79% | 22.12% | +24.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.79% | 22.88% | +23.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.79% | 22.88% | +23.91% |
WELD vs. MADE - Expense Ratio Comparison
WELD has a 0.75% expense ratio, which is higher than MADE's 0.40% expense ratio.
Dividends
WELD vs. MADE - Dividend Comparison
WELD has not paid dividends to shareholders, while MADE's dividend yield for the trailing twelve months is around 0.63%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MADE iShares U.S. Manufacturing ETF | 0.63% | 0.89% | 0.34% |
WELD Tema U.S. Manufacturing & Reshoring ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WELD and MADE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MADE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MADE is cheaper with a 0.40% expense ratio, compared with 0.75% for WELD.
MADE has the higher dividend yield at 0.63%, compared with 0.00% for WELD.
They also come from different issuers: Tema and iShares. Their fees differ too: 0.75% for WELD and 0.40% for MADE.
Find the right allocation for WELD and MADE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer