Tema U.S. Manufacturing & Reshoring ETF (WELD) Performance
WELD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +11.1% since Dec 31, 2025
- 1 year
- +12.1% total return
- 3 years
- +23.7% a year
- Since first price
- +22.1% a year since 2023
WELD trailing returns vs SPY, QQQ, AGG
| Period | WELD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.1% | −8.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −16.0% | −16.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −11.7% | −11.7% | +7.8% | +8.4% | −1.5% |
| YTD | +11.1% | +11.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +12.1% | +11.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +89.3%+23.7%/yr | +87.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMay 11, 2023 | +99.3%+22.1%/yr | +97.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: WELD vs SPY
From May 11, 2023: WELD grew to $19,931, SPY to $19,259.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
WELD returns by calendar year
2 of 2 full years positive. Best 2025 (+19.2%), worst 2024 (+17.3%). 2026 is year to date.
WELD annual returns table
| Year | WELD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +11.1% | −21.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +19.2% | −24.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.3% | −10.4% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
WELD largest drawdowns
Now 21.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 25, 2024 | −27.3% | Apr 8, 2025 | Jul 23, 2025 | 4 months | 8 months |
| Jun 30, 2026 | −21.6% | Oct 23, 2026 | not yet | 4 months | 4 months so far |
| Feb 24, 2026 | −14.6% | Mar 30, 2026 | Apr 23, 2026 | 34 days | 58 days |
| Aug 1, 2023 | −13.2% | Oct 27, 2023 | Dec 11, 2023 | 3 months | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
WELD risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +24.7% | +25.7% |
| Volatility (annualized) | 22.6% | 23.3% |
| Sharpe ratio | 0.90 | 0.91 |
| Sortino ratio | 1.61 | 1.70 |
| Best month | +13.7% | +16.3% |
| Worst month | −9.8% | −9.8% |
| Best 12 months | +65.4% | +65.4% |
| Worst 12 months | −5.3% | −5.3% |
| Positive months | 61% | 60% |
| Beta vs S&P 500 | 1.22 | — |
| Correlation with S&P 500 | 0.67 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
WELD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 30 | −5.3% | +23.8% | +65.4% | 97% |
| 3-year (a year) | 6 | +22.8% | +24.7% | +32.3% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
WELD performance overview
Tema U.S. Manufacturing & Reshoring ETF (WELD) returned +12.1% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +22.1% a year, turning $10,000 into about $19,931. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −27.3%, from Nov 25, 2024 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 23.3% a year.
Related: WELD chart, WELD holdings, WELD dividends, WELD valuation. See the WELD overview for the latest quote and fund facts.
WELD performance FAQ
What is the WELD return over the past year?
WELD returned +12.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 11.8%.
How much would $10,000 invested in WELD be worth?
$10,000 invested in WELD at its first recorded close on May 11, 2023 would be worth about $19,931 on October 23, 2026 with distributions reinvested.
What was the worst year for WELD?
The worst calendar year was 2024, with a total return of +17.3%. The best was 2025 at +19.2%.
What is the biggest drawdown of WELD?
The largest peak-to-trough decline was −27.3% between November 25, 2024 and April 8, 2025. It recovered to the old high on July 23, 2025, 3 months after the bottom.
How volatile is WELD?
Over the past 3 years WELD had an annualized volatility of 22.6% and a Sharpe ratio of 0.90 (excess return over 1–3 month T-bills per unit of risk).