MISL vs. NATO.L

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust Indxx Aerospace & Defense ETF (MISL) and HANetf Future of Defence UCITS ETF - Accumulating (NATO.L).

MISL and NATO.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MISL is a passively managed fund by First Trust that tracks the performance of the Indxx US Aerospace & Defense Index - Benchmark TR Gross. It was launched on Oct 25, 2022. NATO.L is a passively managed fund by HANetf that tracks the performance of the EQM Future of Defence Index. It was launched on Jul 4, 2023. Both MISL and NATO.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MISL vs. NATO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Aerospace & Defense ETF (MISL) and HANetf Future of Defence UCITS ETF - Accumulating (NATO.L). The values are adjusted to include any dividend payments, if applicable.

MISL vs. NATO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MISL First Trust Indxx Aerospace & Defense ETF	6.94%	41.24%	20.48%	9.77%
NATO.L HANetf Future of Defence UCITS ETF - Accumulating	6.72%	54.83%	31.99%	16.64%

Returns By Period

The year-to-date returns for both stocks are quite close, with MISL having a 6.94% return and NATO.L slightly lower at 6.72%.

MISL

• 1D: 2.28%
• 1M: -9.73%
• YTD: 6.94%
• 6M: 9.60%
• 1Y: 51.50%
• 3Y*: 27.55%
• 5Y*: —
• 10Y*: —

NATO.L

• 1D: 4.55%
• 1M: -3.27%
• YTD: 6.72%
• 6M: 0.42%
• 1Y: 36.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MISL vs. NATO.L - Expense Ratio Comparison

MISL has a 0.60% expense ratio, which is higher than NATO.L's 0.49% expense ratio.

MISL

First Trust Indxx Aerospace & Defense ETF

NATO.L

HANetf Future of Defence UCITS ETF - Accumulating

Return for Risk

MISL vs. NATO.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MISL

MISL Risk / Return Rank: 91
MISL Sharpe Ratio Rank: 92
MISL Sortino Ratio Rank: 93
MISL Omega Ratio Rank: 88
MISL Calmar Ratio Rank: 91
MISL Martin Ratio Rank: 90

NATO.L

NATO.L Risk / Return Rank: 80
NATO.L Sharpe Ratio Rank: 81
NATO.L Sortino Ratio Rank: 83
NATO.L Omega Ratio Rank: 75
NATO.L Calmar Ratio Rank: 87
NATO.L Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MISL vs. NATO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Aerospace & Defense ETF (MISL) 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.

	MISL	NATO.L	Difference
Sharpe ratio Return per unit of total volatility	2.15	1.61	+0.54
Sortino ratio Return per unit of downside risk	2.87	2.27	+0.60
Omega ratio Gain probability vs. loss probability	1.37	1.29	+0.08
Calmar ratio Return relative to maximum drawdown	3.34	2.86	+0.48
Martin ratio Return relative to average drawdown	12.29	7.82	+4.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MISL vs. NATO.L - Sharpe Ratio Comparison

The current MISL Sharpe Ratio is 2.15, which is higher than the NATO.L Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of MISL and NATO.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MISL	NATO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.61	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	1.45	1.44	0.00

Correlation

The correlation between MISL and NATO.L is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MISL vs. NATO.L - Dividend Comparison

MISL's dividend yield for the trailing twelve months is around 0.36%, while NATO.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
MISL First Trust Indxx Aerospace & Defense ETF	0.36%	0.40%	0.74%	0.63%	0.08%
NATO.L HANetf Future of Defence UCITS ETF - Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MISL vs. NATO.L - Drawdown Comparison

The maximum MISL drawdown since its inception was -17.91%, smaller than the maximum NATO.L drawdown of -21.84%. Use the drawdown chart below to compare losses from any high point for MISL and NATO.L.

Drawdown Indicators

	MISL	NATO.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.91%	-21.84%	+3.93%
Max Drawdown (1Y) Largest decline over 1 year	-15.45%	-12.79%	-2.66%
Current Drawdown Current decline from peak	-10.30%	-6.04%	-4.26%
Average Drawdown Average peak-to-trough decline	-3.17%	-2.45%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	4.68%	-0.48%

Volatility

MISL vs. NATO.L - Volatility Comparison

First Trust Indxx Aerospace & Defense ETF (MISL) and HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) have volatilities of 8.47% and 8.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MISL	NATO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	8.08%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	17.76%	15.61%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	24.09%	22.55%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	27.88%	-9.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	27.88%	-9.18%