IBIT vs. NATO.L
IBIT (iShares Bitcoin Trust ETF) and NATO.L (HANetf Future of Defence UCITS ETF - Accumulating) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while NATO.L is a Aerospace & Defense fund tracking the EQM Future of Defence Index. Both are passively managed. Over the past year, IBIT returned -40.63% vs 17.19% for NATO.L. At a 0.27 correlation, their price movements are largely independent. IBIT charges 0.25%/yr vs 0.49%/yr for NATO.L.
Performance
IBIT vs. NATO.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly lower than NATO.L's 10.38% return.
IBIT
- 1D
- -0.03%
- 1M
- -20.12%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -40.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NATO.L
- 1D
- 0.00%
- 1M
- 5.24%
- YTD
- 10.38%
- 6M
- 11.03%
- 1Y
- 17.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIT vs. NATO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
NATO.L HANetf Future of Defence UCITS ETF - Accumulating | 10.38% | 54.83% | 30.41% |
Correlation
The correlation between IBIT and NATO.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.27 |
The correlation between IBIT and NATO.L shifts across timeframes, from 0.27 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBIT vs. NATO.L — Risk / Return Rank
IBIT
NATO.L
IBIT vs. NATO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) and HANetf Future of Defence UCITS ETF - Accumulating (NATO.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.
| IBIT | NATO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.61 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.15 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 1.34 | -2.12 |
| Martin ratioReturn relative to average drawdown | -1.37 | 3.23 | -4.60 |
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Drawdowns
IBIT vs. NATO.L - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, which is greater than NATO.L's maximum drawdown of -12.87%. Use the drawdown chart below to compare losses from any high point for IBIT and NATO.L.
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Drawdown Indicators
| IBIT | NATO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -12.87% | -39.24% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -12.79% | -39.32% |
Current DrawdownCurrent decline from peak | -49.45% | -4.45% | -45.00% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -2.59% | -13.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 5.31% | +24.33% |
Volatility
IBIT vs. NATO.L - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.07% compared to HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) at 7.02%. This indicates that IBIT's price experiences larger fluctuations and is considered to be riskier than NATO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIT | NATO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 7.02% | +5.05% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 16.02% | +18.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 20.17% | +23.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 19.14% | +31.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 19.14% | +31.12% |
IBIT vs. NATO.L - Expense Ratio Comparison
IBIT has a 0.25% expense ratio, which is lower than NATO.L's 0.49% expense ratio.
Dividends
IBIT vs. NATO.L - Dividend Comparison
Neither IBIT nor NATO.L has paid dividends to shareholders.
Frequently Asked Questions
IBIT and NATO.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBIT is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.49% for NATO.L.
IBIT is categorized as Cryptocurrency, while NATO.L is Aerospace & Defense. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while NATO.L tracks EQM Future of Defence Index. They also come from different issuers: iShares and HANetf. Their fees differ too: 0.25% for IBIT and 0.49% for NATO.L.
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