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HWAYvsWELDETF Comparison

ETF 1

HWAY

Themes US Infrastructure ETF

This fund is part of

Infrastructure

+0%

Full HWAY fund page

VS

ETF 2

WELD

Tema U.S. Manufacturing & Reshoring ETF

This fund is part of

US Multi-Factor

-0.13%

Full WELD fund page

Themes US Infrastructure ETF (HWAY) belongs to the Infrastructure segment. Tema U.S. Manufacturing & Reshoring ETF (WELD) is part of the US Multi-Factor segment. HWAY's top 3 sector exposures are Industrials, Non-Energy Materials and Consumer Cyclicals. In contrast, WELD's top sector exposures are Industrials, Non-Energy Materials and Technology. HWAY is less expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.75% for WELD. HWAY is up 24.17% year-to-date (YTD) with +$1M in YTD flows. WELD performs better with 31.56% YTD performance, and +$56M in YTD flows. Run a side-by-side ETF comparison of HWAY and WELD below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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HWAY vs WELD performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 07/24/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	HWAY WELD	-1.02%-4.30%	+4.45%+4.36%	+24.17%+31.56%	+31.23%+39.27%	n/a+99.59%	n/an/a
Flows	HWAY WELD	+$378K+$10M	+$752K+$25M	+$1M+$56M	+$2M+$64M	-+$208M	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	HWAY WELD	+23.38%+32.41%	+20.64%+25.76%	n/a+22.58%	n/an/a
Max drawdown	HWAY WELD	-7.46%-10.11%	-12.66%-14.60%	n/a-26.90%	n/an/a
Max drawdown duration	HWAY WELD	29d29d	59d57d	n/a239d	n/an/a

Trading data

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	HWAY	WELD
Last sale 7/24/2026 at 1:30 PM	$38.42	$58.23
Previous close 07/23/2026	$38.22	$58.66
Consolidated volume 07/23/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of June 30, 2026

1-year trailing difference

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WELD

is actively managed and doesn’t replicate an index

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	HWAY	WELD
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 7/24/2026 at 1:30 PM

Live

Closed

	HWAY	WELD
Last price	$38.42	$58.23
1D performance	+0.53%	-0.73%
AuM	$3.84 M	$295.34 M
E/R	0.29%	0.75%

Characteristics

	HWAY	WELD
Management strategy	Passive	Active
Provider	Themes Management Company	Tema
Benchmark	Solactive United States Infrastructure Index	-
N° of holdings	99	24
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	September 12, 2024	May 10, 2023
ESG	No	No

More HWAY data on Trackinsight

More WELD data on Trackinsight

Exposure

Countries

HWAY

USA

99.66%

Other

0.34%

WELD

USA

79.68%

Other

20.32%

Sectors

HWAY

Industrials

74.47%

Non-Energy Materi.

24.69%

Other

0.84%

WELD

Industrials

71.21%

Non-Energy Materi.

21.17%

Other

7.62%

Diversification

HWAY

Total weight of top 15 holdings out of 15

55.88%

WELD

Total weight of top 15 holdings out of 15

79.78%

Top 15 holdings

Data as of June 30, 2026

HWAY

Caterpillar, Inc.

5.19%

Quanta Services, Inc.

4.85%

CSX Corp.

4.46%

Union Pacific Corp.

4.38%

Deere & Co.

4.06%

Parker-Hannifin Corp.

4.05%

Emerson Electric Co.

4.05%

CRH Plc

3.78%

United Rentals, Inc.

3.54%

Norfolk Southern Corp.

3.53%

Comfort Systems USA, Inc.

3.27%

W.W. Grainger, Inc.

2.93%

Nucor Corp.

2.78%

Fastenal Co.

2.72%

Westinghouse Air Brake Technologies Corp.

2.29%

WELD

The Timken Co.

8.15%

Cognex Corp.

7.27%

Caterpillar, Inc.

7.04%

Powell Industries, Inc.

6.97%

Applied Industrial Technologies, Inc.

6.09%

Gates Industrial Corp. Plc

5.78%

Eaton Corp. Plc

5.39%

Terex Corp.

5.05%

ATI, Inc.

4.84%

Linde Plc

4.76%

SPX Technologies, Inc.

3.82%

Rockwell Automation, Inc.

3.73%

Parker-Hannifin Corp.

3.66%

Taiwan Semiconductor Manufacturing Co., Ltd.

3.65%

Ingersoll Rand, Inc.

3.58%

Frequently asked questions about HWAY and WELD

How have the HWAY and WELD ETFs performed in 2026?

As of July 24, 2026, HWAY is up 24.17% year-to-date (YTD), while WELD has returned 31.56%. That puts WELD better performer ahead so far this year.

Which ETF is attracting more investor money: HWAY or WELD?

Year-to-date, the HWAY ETF saw +$1M in flows, compared to +$56M for WELD.

Which ETF is more volatile: HWAY or WELD?

Over the past year, HWAY had a volatility of 20.64%, while WELD experienced 25.76%.

Which ETF is bigger: HWAY or WELD?

As of July 24, 2026, HWAY holds $3.84 M in assets under management (AUM), while WELD manages $295.34 M.

What sectors do the HWAY and WELD ETFs invest in?

HWAY leans toward sectors like Industrials and Non-Energy Materials. Meanwhile, WELD focuses on Industrials and Non-Energy Materials.

What are the top holdings of the HWAY ETF and WELD ETF?

HWAY top holdings include Caterpillar, Inc., Quanta Services, Inc. and CSX Corp.. WELD holds in its top three: The Timken Co., Cognex Corp. and Caterpillar, Inc..

HWAYvsWELDETF Comparison

Themes US Infrastructure ETF

Tema U.S. Manufacturing & Reshoring ETF

HWAY vs WELD performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the HWAY and WELD ETFs performed in 2026?

As of July 24, 2026, HWAY is up 24.17% year-to-date (YTD), while WELD has returned 31.56%. That puts WELD better performer ahead so far this year.

Which ETF is attracting more investor money: HWAY or WELD?

Year-to-date, the HWAY ETF saw +$1M in flows, compared to +$56M for WELD.

Which ETF is more volatile: HWAY or WELD?

Over the past year, HWAY had a volatility of 20.64%, while WELD experienced 25.76%.

Which ETF is bigger: HWAY or WELD?

As of July 24, 2026, HWAY holds $3.84 M in assets under management (AUM), while WELD manages $295.34 M.

What sectors do the HWAY and WELD ETFs invest in?

HWAY leans toward sectors like Industrials and Non-Energy Materials. Meanwhile, WELD focuses on Industrials and Non-Energy Materials.

What are the top holdings of the HWAY ETF and WELD ETF?

HWAY top holdings include Caterpillar, Inc., Quanta Services, Inc. and CSX Corp.. WELD holds in its top three: The Timken Co., Cognex Corp. and Caterpillar, Inc..

Which ETF is more diversified: HWAY or WELD?

HWAY holds 99 securities with 55.88% of its assets in the top 15. WELD has 24 securities and a top 15 weight of 79.78%.

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