The US Reindustrialization Trade: A New ETF Play | Sam Klar, GMO

In this episode, Brad Roth sits down with Sam Klar of GMO to unpack the thesis behind the GMO Domestic Resilience ETF (DRES). Sam shares his path from joining GMO out of undergrad to helping launch a strategy focused on U.S. reindustrialization, supply chain resilience, and long-term domestic economic strength.They break down how DRES is built, why GMO emphasizes quality and value even inside a thematic strategy, and how the portfolio is structured across manufacturing, transportation/logistics, energy/materials, and defense. Sam also addresses common pushback — including whether DRES is just an industrials bet — and explains why he believes stock-level selection and U.S. revenue exposure make the strategy distinct.The conversation closes with practical implementation guidance for advisors: DRES as a satellite allocation to complement global, tech-heavy core holdings, plus a candid look at policy risk, competition, and early investor response since launch.Get Brad's daily market research: Subscribe to The Signal at thorft.com/newsletterMore episodes: thorft.com/podcast