MADE vs WELD

MADEBiShares U.S. Manufacturing ETF

WELDDTema U.S. Manufacturing & Reshoring ETF

In short

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%.

WELD Most reshoring funds buy the whole factory floor. WELD picks roughly two dozen U.S. industrial names by hand, with a valuation screen built into the mandate, and it was doing this in 2023 before the index giants turned up.

Stated mandate

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.

WELD The Fund seeks long-term growth.

Why people hold it

• 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.

• WELD Actively run rather than indexed: around 26 U.S. industrial names chosen by an industrials portfolio manager, not a rules-based basket of a hundred-plus tickers.temaetfs.com
• Valuation is written into the strategy: it targets reshoring companies priced attractively against their own fundamentals and growth, a rarity in thematic land.
• An early mover in the theme. It listed in May 2023 as RSHO, more than a year before iShares brought its U.S. manufacturing index fund (MADE) to market.businesswire.cominvesting.com
• Among the reshoring and supply-chain funds we review, it sits in the upper half of the group, with tradability its stronger suit.

Worth knowing

• 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.

• WELD At 0.75% a year it matches the median for its peer group, but broader index rivals cost less: MADE at 0.40% and IETC at 0.18%.
• Roughly 26 holdings concentrated in Industrials, Materials and Utilities means one company or one sector cycle can move the whole fund.temaetfs.com
• It trades thinly next to the category's index heavyweights, so bid-ask spreads can run wider than headline expenses suggest.

Full MADE profile⁠

Full WELD profile⁠