Data as of Nov 4, 2026.

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Thematic ETFs

MADE vs NRSH: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, MADE returned +12.2% to NRSH's +19.1%; 3% of their weight is in the same names.

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Net assets: $56m on Nov 3, 2026 for iShares U.S. Manufacturing ETF, and $30m on Jul 31, 2026 for Aztlan North America Nearshoring Stock Selection ETF.

At a glance
80.7%
MADE in the S&P 500
55.4%
NRSH in the S&P 500
+12.2%
MADE total return, 1 year
+19.1%
NRSH total return, 1 year
MADE · 1 year to Nov 4, 2026 19% of its weight is outside the S&P 500
19% of its weight is outside the S&P 50081% of MADE's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Nov 3, 2026.81%19%of its weight in S&P 500 companiesoutside the S&P 500active share 95% · top ten 37% of the fund · 112 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 9% in19% of its weight is outside the S&P 50081% of MADE's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Nov 3, 2026.81%19%in the S&P 50019% of its weight outside the S&P 500active share 95% · Nasdaq-100: 9% in

81% of MADE's weight is in S&P 500 companies and 19% is outside the index. Holdings as of Nov 3, 2026.

NRSH · 1 year to Nov 4, 2026 45% of its weight is outside the S&P 500
45% of its weight is outside the S&P 50055% of NRSH's weight is in S&P 500 companies and 45% is outside the index. Holdings as of Jul 31, 2026.55%45%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 89% · top ten 39% of the fund · 31 holdings as filed for Jul 31, 2026 · Nasdaq-100: 28% in45% of its weight is outside the S&P 50055% of NRSH's weight is in S&P 500 companies and 45% is outside the index. Holdings as of Jul 31, 2026.55%45%in the S&P 500outsideactive share 89% · Nasdaq-100: 28% in

55% of NRSH's weight is in S&P 500 companies and 45% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

MADE costs 0.36 points a year less; their one-year returns differ by 6.9 points.

Points (pts) are percentage points.

MADE vs NRSH: Holdings Overlap & Returns
MeasureMADENRSH
Return
Total return, 1 year+12.2%+19.1%
Drawdown
Below its all-time high14.7%, high on Jun 22, 202617.1%, high on Jun 30, 2026
Against its benchmark
What it tracksReshoring and manufacturingReshoring and manufacturing
Against the S&P 500, 1 yearahead by 4.3 pts
Its benchmark, total return, 1 year+14.8%
Against its benchmark, 1 yearahead by 4.3 pts
Cost and size
Expense ratio0.40%0.76%
Net assets, MADE as of Nov 3, 2026 and NRSH as of Jul 31, 2026$56m$30m
Holdings
Holdings in common3%
ETFIQ S&P 500 Difference Score · MADE scores higher How much of its weight does it not share with the S&P 500?
IQ Themes Score68MADE57.5NRSH

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

3%

By the books each fund has filed, MADE and NRSH hold 3% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

0 half 100%

half

3% in common

Positions both hold · largest shared weight first MADE NRSH
ROCKWELL AUTOMATION INC 2.41% 3.79%
LEIDOS HOLDINGS 0.25% 3.43%
Only in one fund ↓
Only in MADE
AMPHENOL CORP CLASS A 4.29%
RTX 4.09%
DEERE 4.07%
EATON PLC 3.91%
PARKER-HANNIFIN 3.84%
GENERAL MOTORS 3.76%
HONEYWELL INTERNATIONAL INC 3.45%
CUMMINS INC 3.35%
Only in NRSH
Tenable Holdings Inc 4.42%
Mullen Group Ltd 4.33%
Intuit Inc 4.14%
Crowdstrike Holdings Inc 4.06%
NetApp Inc 4.01%
GRUPO AEROPORTUARIO DEL CENTRO SAB DE CV 3.80%
Broadcom Inc 3.70%
NetScout Systems Inc 3.56%
Check overlap with more funds →

Window by window

Window by window: MADE vs NRSH: Holdings Overlap & Returns
Total returnvs its benchmark
WindowMADENRSHMADENRSH
3 months−12.5%−11.5%not measured−11.4 pts vs VOO
6 months−10.6%−11.6%not measured−16.6 pts vs VOO
1 year+12.2%+19.1%not measured+4.3 pts vs VOO
Since launchNot the same days: MADE Jul 2024 · NRSH Nov 2023+40.8%+42.0%not measured−32.6 pts vs VOO

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Side by side

MADE iShares U.S. Manufacturing ETF · Holds 112 stocks in reshoring and manufacturing, 81% of its weight in S&P 500 companies NRSH Aztlan North America Nearshoring Stock Selection ETF · Holds 31 stocks in reshoring and manufacturing, 55% of its weight in S&P 500 companies
Theme Reshoring and manufacturing Reshoring and manufacturing
In the S&P 500 80.7% 55.4%
Active share vs the S&P 500 94.8% 88.6%
In the Nasdaq-100 9.4% 28.3%
Holdings 112 31
Top ten, share of the fund 37.1% 39.4%
Expense ratio 0.40% 0.76%
Fee for the differing part 0.42% 0.86%
Total return, 1 year +12.2% +19.1%
vs its benchmark not measured +4.3 pts vs VOO
Below its high −14.7% −17.1%
Net assets, MADE as of Nov 3, 2026 and NRSH as of Jul 31, 2026 $56m $30m

As of Nov 4, 2026. Source: ETFIQ.

3% of the two portfolios are the same securities at the same weight.

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About each fund
MADE

By weight, 81% of MADE's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 95%. The top ten holdings are 37% of the fund across 112 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +12.2% with distributions reinvested. It sits 14.7% below its all-time high of Jun 22, 2026.

NRSH

By weight, 55% of NRSH's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 89%. The top ten holdings are 39% of the fund across 31 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned +19.1% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Total Return Index, so a holder was ahead by 4.3 pts. It sits 17.1% below its all-time high of Jun 30, 2026.

Questions people ask

Do MADE and NRSH hold the same stocks?
By their latest filings, 3% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, MADE or NRSH?
MADE has 81% of its weight in S&P 500 names and NRSH has 55%, so MADE differs more from the index.
Which is cheaper, MADE or NRSH?
MADE charges 0.40% a year and NRSH charges 0.76%, so MADE is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, MADE against NRSH, data as of Nov 4, 2026. https://etfiq.com/compare/themes/made-vs-nrsh

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