EVAL.L vs. NATP.L
EVAL.L (SPDR MSCI Europe Value UCITS ETF) and NATP.L (HANetf Future of Defence UCITS ETF Acc GBP) are both exchange-traded funds - EVAL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while NATP.L is a Aerospace & Defense fund tracking the EQM Future of Defence Index. Both are passively managed. Over the past 3 years, EVAL.L returned 20.57%/yr vs 34.97%/yr for NATP.L. At a 0.27 correlation, their price movements are largely independent. EVAL.L charges 0.20%/yr vs 0.49%/yr for NATP.L.
Performance
EVAL.L vs. NATP.L - Performance Comparison
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Different Trading Currencies
EVAL.L is traded in GBP, while NATP.L is traded in GBp. To make them comparable, the NATP.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EVAL.L achieves a 12.65% return, which is significantly higher than NATP.L's 9.91% return.
EVAL.L
- 1D
- 0.15%
- 1M
- -0.38%
- 6M
- 10.24%
- YTD
- 12.65%
- 1Y
- 30.82%
- 3Y*
- 20.57%
- 5Y*
- 14.82%
- 10Y*
- 11.40%
NATP.L
- 1D
- 0.00%
- 1M
- -2.14%
- 6M
- -3.28%
- YTD
- 9.91%
- 1Y
- 11.26%
- 3Y*
- 34.97%
- 5Y*
- —
- 10Y*
- —
EVAL.L vs. NATP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EVAL.L SPDR MSCI Europe Value UCITS ETF | 12.65% | 41.82% | 4.36% | 4.86% |
NATP.L HANetf Future of Defence UCITS ETF Acc GBP | 9.91% | 43.73% | 34.66% | 15.24% |
Correlation
The correlation between EVAL.L and NATP.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2023 | 0.27 |
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Return for Risk
EVAL.L vs. NATP.L — Risk / Return Rank
EVAL.L
NATP.L
EVAL.L vs. NATP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Value UCITS ETF (EVAL.L) and HANetf Future of Defence UCITS ETF Acc GBP (NATP.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EVAL.L | NATP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.15 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 0.35 | +2.69 |
| Martin ratioReturn relative to average drawdown | 11.14 | 0.53 | +10.62 |
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Drawdowns
EVAL.L vs. NATP.L - Drawdown Comparison
The maximum EVAL.L drawdown since its inception was -40.72%, which is greater than NATP.L's maximum drawdown of -32.07%. Use the drawdown chart below to compare losses from any high point for EVAL.L and NATP.L.
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Drawdown Indicators
| EVAL.L | NATP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.72% | -32.07% | -8.65% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -32.07% | +21.97% |
Max Drawdown (3Y)Largest decline over 3 years | -14.34% | -32.07% | +17.73% |
Max Drawdown (5Y)Largest decline over 5 years | -14.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.77% | — | — |
Current DrawdownCurrent decline from peak | -1.19% | -22.64% | +21.45% |
Average DrawdownAverage peak-to-trough decline | -11.27% | -7.02% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 21.31% | -18.55% |
Volatility
EVAL.L vs. NATP.L - Volatility Comparison
The current volatility for SPDR MSCI Europe Value UCITS ETF (EVAL.L) is 3.82%, while HANetf Future of Defence UCITS ETF Acc GBP (NATP.L) has a volatility of 7.19%. This indicates that EVAL.L experiences smaller price fluctuations and is considered to be less risky than NATP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVAL.L | NATP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 7.19% | -3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 11.20% | 15.98% | -4.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.37% | 46.59% | -33.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.51% | 30.27% | -13.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.76% | 30.27% | -12.51% |
EVAL.L vs. NATP.L - Expense Ratio Comparison
EVAL.L has a 0.20% expense ratio, which is lower than NATP.L's 0.49% expense ratio.
Dividends
EVAL.L vs. NATP.L - Dividend Comparison
Neither EVAL.L nor NATP.L has paid dividends to shareholders.
Frequently Asked Questions
EVAL.L and NATP.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EVAL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EVAL.L is cheaper with a 0.20% expense ratio, compared with 0.49% for NATP.L.
EVAL.L is categorized as Europe Equities, while NATP.L is Aerospace & Defense. EVAL.L tracks MSCI Europe Value NR EUR, while NATP.L tracks EQM Future of Defence Index. They also come from different issuers: State Street and HANetf. Their fees differ too: 0.20% for EVAL.L and 0.49% for NATP.L.
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