DRES vs MADE

DRESBGMO Domestic Resilience ETF

MADEBiShares U.S. Manufacturing ETF

In short

DRES GMO's reshoring idea, run the GMO way: a concentrated, actively managed slate of U.S. manufacturing, transport, energy, automation and defense names picked on quality and valuation instead of a theme index.

MADE The reshoring theme, done index-style: roughly 110 US companies that earn real revenue from making things, from factory floors to chipmaking gear, at 0.40% a year while the peer group's median fee is 0.75%.

Stated mandate

DRES The Fund seeks total return. It is actively managed and invests primarily in U.S. equities positioned to benefit from reduced globalization and increased domestic sourcing of vital technologies and industries.

MADE The fund seeks to track an index of U.S. companies with substantial manufacturing-related revenue, including industrial manufacturing, automotive, electronics, and semiconductor-manufacturing equipment. It provides focused exposure to domestic manufacturing and possible reshoring trends.

Why people hold it

• DRES Active stock picking, not a keyword screen. GMO's Focused Equity team applies its quality-and-valuation discipline to companies tied to American reindustrialization.gmo.com
• Built to be more genuinely American than a broad U.S. index: the portfolio is concentrated and tilted toward companies with high domestic revenue exposure.gmo.com
• A 0.50% expense ratio is on the lower side for an actively managed fund in this peer group, where the typical fee runs higher.
• One theme, four lanes: manufacturing and automation, transportation and logistics, energy and materials, and defense. Sectors chosen deliberately, then names chosen one by one.gmo.com

• MADE Charges 0.40% a year against a 0.75% median for its reshoring peer group, where WELD and SUPP both sit at 0.75%.
• Spreads across about 110 US names through an S&P index covering industrial manufacturing, autos, electronics and semiconductor equipment.
• Rules-based index rather than a manager's hunch, quarterly distributions, and iShares plumbing behind it. One of the stronger builds in the reshoring group.

Worth knowing

• DRES Launched in late 2025, so the live record is short and there is no long history to judge the strategy by.gmo.com
• A small, lightly traded fund. Spreads can be wider than in the giants of this category, which makes limit orders the sane default.
• Concentration cuts both ways: a focused portfolio leaning on industrial, energy and defense names can travel a very different path from the broad U.S. market.gmo.com

• MADE Launched in 2024, so the record is short and hasn't spanned a full industrial cycle.
• Trades lighter than the big broad-market funds, so spreads can run wider, especially near the open and close.
• Not the cheapest in the cohort: iShares' own IETC runs 0.18%, though it targets tech independence rather than broad manufacturing.

Full DRES profile⁠

Full MADE profile⁠