Tema's Reshoring ETF WELD Earns Top Morningstar Rating
Event summary
- Tema ETFs' U.S. Manufacturing & Reshoring ETF (WELD) received a 5-star Morningstar rating as of May 31, 2026.
- The fund has returned 31.62% annualized since its inception in May 2023.
- WELD focuses on mid-cap U.S. industrial companies benefiting from reshoring and supply chain resilience trends.
- The ISM Manufacturing Index hit a four-year high in May 2026, supporting the fund's investment thesis.
The big picture
Tema ETFs' WELD fund is capitalizing on the long-term tailwinds of deglobalization and reshoring, which are driving renewed growth in U.S. manufacturing. The 5-star Morningstar rating underscores the fund's strong performance and institutional appeal, positioning it as a key player in the actively managed ETF space. With over $1 billion in AUM (as inferred from its institutional adoption), WELD is well-positioned to benefit from continued policy incentives and geopolitical shifts favoring domestic production.
What we're watching
- Performance Sustainability
- Whether WELD can maintain its strong returns amid potential market volatility and geopolitical uncertainty.
- Institutional Adoption
- The pace at which institutional investors continue to adopt Tema's funds, given the reported >90% adoption rate as of June 2026.
- Sector-Specific Risks
- How regulatory and financial headwinds might impact companies within WELD's focus sectors, particularly Industrials and Materials.
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