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Data as of Nov 4, 2026.

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Thematic ETFs

NRSH vs WELD: Holdings Overlap & Returns

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NRSH and WELD hold 6% of their weight in the same names.

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Net assets: $30m on Jul 31, 2026 for Aztlan North America Nearshoring Stock Selection ETF, and $251m on Nov 3, 2026 for Tema U.S. Manufacturing & Reshoring ETF.

NRSH on its own →WELD on its own →
At a glance
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.

WELD · 3 months to Nov 4, 2026 61% of its weight is outside the S&P 500
61% of its weight is outside the S&P 50039% of WELD's weight is in S&P 500 companies and 61% is outside the index. Holdings as of Nov 3, 2026.39%61%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 63% of the fund · 21 holdings as published by its issuer for Nov 3, 2026 · Nasdaq-100: 5% in61% of its weight is outside the S&P 50039% of WELD's weight is in S&P 500 companies and 61% is outside the index. Holdings as of Nov 3, 2026.39%61%in the S&P 500outside the S&P 500active share 98% · Nasdaq-100: 5% in

39% of WELD's weight is in S&P 500 companies and 61% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

WELD costs 0.01 points a year less.

Points (pts) are percentage points.

NRSH vs WELD: Holdings Overlap & Returns
MeasureNRSHWELD
Return
Total return, 1 year+19.1%not published
Drawdown
Below its all-time high17.1%, high on Jun 30, 202621.1%, 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 ratio0.76%0.75%
Net assets, NRSH as of Jul 31, 2026 and WELD as of Nov 3, 2026$30m$251m
Holdings
Holdings in common6%

Method

What they share

6%

By the books each fund has filed, NRSH and WELD hold 6% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

0 half 100%

half

6% in common

Positions both hold · largest shared weight first NRSH WELD
Rockwell Automation Inc 3.79% 4.26%
API Group Corp 3.40% 2.38%
Only in one fund ↓
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%
Only in WELD
TIMKEN CO 7.13%
GATES INDUSTRIAL CORP LTD 7.04%
PARKER-HANNIFIN CORP 6.93%
COGNEX CORP 6.90%
APPLIED INDUSTRIAL TECHNOLOGIES INC 6.62%
TEREX CORP 6.45%
INGERSOLL RAND INC 6.07%
NOVANTA INC 5.51%
Check overlap with more funds →

Window by window

Window by window: NRSH vs WELD: Holdings Overlap & Returns
Total returnvs its benchmark
WindowNRSHWELDNRSHWELD
3 months−11.5%−15.4%−11.4 pts vs VOOnot measured
6 months−11.6%–−16.6 pts vs VOO–
1 year+19.1%–+4.3 pts vs VOO–
Since launch+42.0%–−32.6 pts vs VOO–

– means no data for this window. Open this comparison in the app →

Side by side

NRSH Aztlan North America Nearshoring Stock Selection ETF · Holds 31 stocks in reshoring and manufacturing, 55% of its weight in S&P 500 companies WELD Tema U.S. Manufacturing & Reshoring ETF · Holds 21 stocks in reshoring and manufacturing, 39% of its weight in S&P 500 companies
Issuer Aztlan Tema
Theme Reshoring and manufacturing Reshoring and manufacturing
In the S&P 500 55.4% 38.9%
Active share vs the S&P 500 88.6% 98.0%
In the Nasdaq-100 28.3% 4.5%
Holdings 31 21
Top ten, share of the fund 39.4% 63.1%
Expense ratio 0.76% 0.75%
Fee for the differing part 0.86% 0.77%
Total return, 1 year +19.1% not available
vs its benchmark +4.3 pts vs VOO not available
Below its high −17.1% −21.1%
Net assets, NRSH as of Jul 31, 2026 and WELD as of Nov 3, 2026 $30m $251m

As of Nov 4, 2026. Source: ETFIQ.

6% of the two portfolios are the same securities at the same weight.

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About each fund
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.

WELD

By weight, 39% of WELD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 63% of the fund across 21 positions, as published by its issuer for Nov 3, 2026. It sits 21.1% below its all-time high of Jun 30, 2026.

Questions people ask

Do NRSH and WELD hold the same stocks?
By their latest filings, 6% 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, NRSH or WELD?
NRSH has 55% of its weight in S&P 500 names and WELD has 39%, so WELD differs more from the index.
Which is cheaper, NRSH or WELD?
NRSH charges 0.76% a year and WELD charges 0.75%, so WELD is cheaper. Fees come from each fund's prospectus.
Other comparisons
NRSH vs PEXLNRSH vs SUPPNRSH vs AIRRNRSH vs PIELWELD vs AIRRWELD vs KMCAWELD vs PEXLWELD vs MADE
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →NRSH on its own →WELD on its own →NRSH dividend history →NRSH holdings →WELD holdings →Method →Standards and sources →
Sources and dates
NRSH filings on SEC EDGAR ↗
NRSH prospectus with the expense ratio (SEC) ↗
Aztlan website ↗
WELD filings on SEC EDGAR ↗
WELD prospectus with the expense ratio (SEC) ↗
Tema page for WELD ↗

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

How this is computed

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

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

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

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.