RSHO
Tema American Reshoring ETF
RSHO actively manages a narrow portfolio of US stocks that are anticipated to benefit from deglobalization. The funds adviser combines a top-down and bottom-up approach to selecting and weighting fund holdings.
US
EQUITY
Active
MANAGEMENT STYLE
182.0 M
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Fund sponsor | Tema Global Ltd. |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | May 11, 2023 |
| Assets (mns) | $182 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| CATERPILLAR INC | 6.7 % |
| ROCKWELL AUTOMATION INC | 6.5 % |
| TIMKEN CO | 5.8 % |
| POWELL INDUSTRIES INC | 5.7 % |
| APPLIED INDUSTRIAL TECH INC | 5.3 % |
| COGNEX CORP | 5.1 % |
| PARKER HANNIFIN CORP | 5.0 % |
| TEREX CORP | 5.0 % |
| ALLEGHENY TECHNOLOGIES INC | 4.3 % |
| API GROUP CORPORATION | 4.2 % |
Constituent Breakdown
| Number of holdings | 29 |
| Herfindahl-Hirschman Index | 428 |
| Wgt avg mkt cap (mns) | $75,872 |
| Large cap (>$10bn) | 59.8% |
| Mid cap ($2-10bn) | 39.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 96.6% |
| Emerging mkts. | 2.9% |
Country Exposure
 |
UNITED STATES | 82.9 % |
 |
IRELAND | 6.9 % |
 |
SWITZERLAND | 6.4 % |
 |
BRITAIN | 1.9 % |
 |
TAIWAN | 1.3 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 18.5% | 6.6% | 23.1% | -- | -- | -- | -- | 25.2% |
| Dividend Yield | 0.0% | 0.3% | 0.3% | -- | -- | -- | -- | 0.3% |
| Total Returns | 18.5% | 6.9% | 23.4% | -- | -- | -- | -- | 25.4% | Ann. Volatility | 24.8% | 24.2% | 22.0% | -- | -- | -- | -- | 21.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.09 | 79% |
| MSCI EAFE | 1.09 | 57% |
| MSCI Emg Mkts | 1.00 | 54% |
Liquidity Measures
| Avg. volume (000) | 14 |
| ADV traded (mns) | $1 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.15% |
Technical Indicators
| 30d moving avg. (EMA) | $43.51 |
| Relative strength (RSI) | 57 |
| MACD/Signal | 0.29/0.06 |
| Bollinger Bands (Upper/Lower) | $45.39/$41.31 |
| Short interest (% of AUM) | 0.5% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. RSHO |
Expenses vs. RSHO |
ALTAR Score™ vs. RSHO |
|---|---|---|---|---|
| HWAY | Themes US Infrastructure ETF | 24.8% | -46 bp | +6.0% |
| PAVE | Global X U.S. Infrastructure Development ETF | 21.7% | -28 bp | +5.2% |
| XLI | The Industrial Select Sector SPDR Fund | 17.3% | -67 bp | +4.5% |
| VOLT | Tema Electrification ETF | 16.6% | 0 bp | +3.6% |
| FIDU | Fidelity MSCI Industrial Index ETF | 14.9% | -67 bp | +4.5% |
| FTIF | First Trust Bloomberg Inflation Sensitive Equity ETF | 14.8% | -15 bp | +8.0% |
| VIS | Vanguard Industrials ETF | 14.5% | -66 bp | +4.5% |
| MAKX | ProShares S&P Kensho Smart Factories ETF | 14.5% | -17 bp | -0.4% |
| MADE | iShares U.S. Manufacturing ETF | 12.7% | -35 bp | +4.8% |
| IYJ | iShares U.S. Industrials ETF | 12.0% | -35 bp | +4.8% |
Risk and Returns: RSHO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/9/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
RSHO
4.6%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 1019 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.3%. RSHO's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places RSHO in the 33rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
RSHOSELL
U/W
HOLD
O/W
BUY