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WELD
U.S. Manufacturing & Reshoring ETF
Put Manufacturing to Work in Your Portfolio
Morningstar Rating™
Overall rating out of 366 mid-cap blend funds, based on three years of risk-adjusted returns as of Sep 30, 2026
Why Invest in WELD?
Multiple Tailwinds
Supply chain risks, geopolitical tensions, and industrial policy strengthen the case for U.S. production
U.S. Midcap Opportunity
Seeks value in structurally growing U.S. midcap companies
Investment Expertise
Actively managed by an investor with decades of sector experience
Portfolio Highlights
Timken (TKR) is a leading manufacturer of engineered bearings and industrial motion products that improve the reliability and efficiency of machinery across manufacturing, infrastructure, and energy.
Parker Hannifin (PH) is a global leader in motion and control technologies that support factory automation, industrial machinery, and aerospace systems.
Rockwell Automation (ROK) is the world's largest company dedicated to industrial automation and digital transformation in manufacturing.
Portfolio holdings are subject to change. Review current holdings below.
Fund Overview
Fund Details
As of October 30, 2026
Ticker
WELD
CUSIP
87975E602
Inception Date
05/10/23
Total Expense Ratio
0.75%
AUM
$243,076,506
Shares Outstanding
4,860,000
# of Holdings
22
Primary Exchange
NYSE
Portfolio Manager
Chris Semenuk
Fund Summary
The Tema U.S. Manufacturing & Reshoring ETF (WELD) invests in companies benefitting from an acceleration of American manufacturing and infrastructure development, spanning machinery, industrial equipment, and materials.
Portfolio Breakdown
Top 10 Holdings
As of October 30, 2026
Company
% of Nav
TIMKEN CO/THE
7.37%
COGNEX CORP
7.25%
GATES INDUSTRIAL CORP LTD
6.82%
PARKER-HANNIFIN CORP
6.81%
APPLIED INDUSTRIAL TECHNOLOGIES INC
6.49%
TEREX CORP
6.25%
INGERSOLL RAND INC
5.73%
NOVANTA INC
5.50%
AMETEK INC
5.36%
ATI INC
4.75%
Country Breakdown
United States
71.54%Ireland
9.05%Bermuda
6.82%Canada
5.50%Others
7.09%Industry Breakdown
Industrials
78.20%Information Technology
15.66%Materials
4.39%Energy
1.12%Cash & Cash Equivalents
0.62%ETF Characteristics
As of October 30, 2026
Return on Equity
Measures how efficiently companies generate profit relative to shareholder equity. Calculated as aggregated earnings divided by aggregated average book value over the year.
16.8%
Median Market Cap
The midpoint market capitalization among all companies held in the ETF. Half of the holdings have a market cap above this figure, and half below. It gives a snapshot of the typical company size in the fund, without being skewed by a few very large or very small positions.
$
27,860
M
Price-to-Earnings (P/E)
The aggregated price of the ETF's holdings divided by aggregated expected earnings of holdings.
20.9x
Price-to-Book Value (P/BV)
The aggregated price of the ETF's holdings divided by aggregated forecast book value of holdings.
3.3x
Price-to-Sales (P/S)
The aggregated price of the ETF's holdings divided by aggregated expected sales of holdings.
2.6x
Risk Statistics
As of September 30, 2026
Beta vs. S&P 500
Measures how the ETF's daily returns move relative to stated index (S&P 500). A beta of one means it moved one for one. This measure is a one-year raw beta.
1.49
Beta vs. Nasdaq 100
Measures how the ETF's daily returns move relative to stated index (Nasdaq 100). A beta of one means it moved one for one. This measure is a one-year raw beta.
0.94
Beta vs. MSCI-EAFE
Measures how the ETF's daily returns move relative to stated index (MSCI EAFE). A beta of one means it moved one for one. This measure is a one-year raw beta.
1.23
Beta vs. MSCI Emg. Mkts.
Measures how the ETF's daily returns move relative to stated index (MSCI Emerging Markets). A beta of one means it moved one for one. This measure is a one-year raw beta.
0.80
Standard Deviation
An annualized measure of how much the ETF's daily total returns have varied over the past year.
27.60%
- Performance
- Distributions
- Premium / Discount
Prices & Performance
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As of
Sep 30, 2026
- Sep 30, 2026
- Sep 30, 2026
WELD
3 months
1 Year
3 Years
5 Years
Since inception
NAV
-15.31%
-15.31%
24.14%
24.14%
24.74%
24.74%
25.20%
25.20%
Market Price
-15.31%
-15.31%
24.20%
24.20%
24.70%
24.70%
25.26%
25.26%
Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. Returns for periods of less than one year are not annualized.
The market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded shares at other times. NAVs are calculated using prices as of 4:00 PM Eastern Time. The first trading date is typically several days after the fund inception date. Therefore, NAV is used to calculate market returns prior to the first trade date because there is no bid/ask spread until the fund starts trading.
Distributions
Record Date
Ex-Date
Payable Date
Total Distribution
Income
Dec 14, 2023
Dec 13, 2023
Dec 15, 2023
$0.080308
$0.080308
Dec 11, 2024
Dec 11, 2024
Dec 12, 2024
$0.09828717
$0.02223717
Dec 10, 2025
Dec 10, 2025
Dec 11, 2025
$0.13125245
$0.13125245
-0.17
-0.19
0.04
-0.01
-0.14
-0.18
-0.26
-0.02
-0.11
-0.05
-0.08
-0.05
-0.15
-0.05
-0.01
-0.06
-0.08
0
0.08
-0.08
-0.12
0.02
0.15
0.14
Premium/Discount
Сhart
Table
Days Traded at Nav
Days Traded at Premium
Days Traded at Discount
2023/Q2
0
35
0
2023/Q3
0
63
0
2023/Q4
0
62
1
2024/Q1
1
55
5
2024/Q2
2
56
5
2024/Q3
0
63
1
2024/Q4
1
60
3
2025/Q1
4
35
22
2025/Q2
1
36
25
2025/Q3
2
54
8
2025/Q4
2
50
12
2026/Q1
1
32
28
2026/Q2
0
52
10
2026/Q3
2
38
24
WELD NAV / Market Price
NAV$50.02
Daily Change
-$1.94
-3.73%
Market Price$49.93
Daily Change
-$1.92
-3.71%
Premium/Discount-0.17%
30-Day Median Bid/Ask Spread0.19%
As of October 30, 2026
October-26
September-26
August-26
July-26
June-26
May-26
April-26
March-26
February-26
January-26
December-25
November-25
October-25
Portfolio Manager
Chris Semenuk
Chris Semenuk is an Investment Partner at Tema ETFs. Chris is a global fund manager with more than 25 years of experience, 20 of which was spent managing a $5 bln global equities fund at TIAA, a leading US based financial services company. Chris managed the fund since inception and raised several billion dollars in assets over that time period. Chris has a Bachelor's Degree in Economics from Union College in New York State.
How to Invest
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*Neither Tema ETFs LLC nor undefined ETF are affiliated with these financial services firms. Their listing should not be viewed as a recommendation or endorsement.
Related Research & Insights
Stay informed with our latest research, insights, and market analysis to make better investment decisions.
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Risk Information
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales load. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. The Tema U.S. Manufacturing & Reshoring ETF (WELD) was rated against the following number of Mid-Cap Blend funds over the following time periods: 366 during the last 3 years. With respect to these Mid-Cap Blend funds, WELD received a Morningstar Rating of 5 stars for the period. Past performance is not indicative of future results.
©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s prospectus or summary prospectus, which may be obtained by visiting www.temaetfs.com. Read the prospectus carefully before investing.
On 6/1/2026 the Tema American Reshoring ETF was renamed the Tema U.S. Manufacturing & Reshoring ETF. On 06/22/2026 the ticker was changed from RSHO to WELD. Investing involves risk including possible loss of principal. There is no guarantee the adviser’s investment strategy will be successful.
Sector Focus Risk: The Fund may invest a significant portion of its assets in one or more sectors, including Industrials, Materials and Utilities, and thus will be more susceptible to the risks affecting those sectors than funds that have more diversified holdings across several sectors.
The success of the Fund’s investment strategy depends in part on the ability of the companies in which it invests to reshore or onshore services to the United States. Companies may face significant legal, financial and political headwinds in the reshoring or onshoring of jobs into the United States, and these factors may be detrimental to performance.
Industrial and Utilities sector companies will likewise be subject to the risks of Government regulation, world events, exchange rates and economic conditions, technological developments and liabilities for environmental damage and general civil liabilities.
In addition, many materials companies are significantly affected by the level and volatility of commodity prices, exchange rates, import controls, worldwide competition, environmental policies and consumer demand.
Investing in Foreign and emerging markets involves risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments. In addition, the fund is exposed to currency risk.
Because the Fund evaluates ESG factors to assess and exclude certain investments for non-financial reasons, the Fund may forego some market opportunities available to funds that do not use these ESG factors.
Tema ETFs LLC serves as the investment adviser to Tema U.S. Manufacturing & Reshoring ETF (the “Fund”), and Tidal Investments LLC serves as a sub-adviser to the Fund. The Fund is distributed by Vigilant Distributors, LLC, which is not affiliated with Tema ETFs LLC nor Tidal Investments LLC. Check the background of Vigilant Distributors, LLC on FINRA’s BrokerCheck.