NATO.L vs. BCH-USD

Last updated Jun 13, 2026

NATO.L (HANetf Future of Defence UCITS ETF - Accumulating) is Aerospace & Defense fund tracking the EQM Future of Defence Index, while BCH-USD (Bitcoin Cash) is a cryptocurrency. Over the past year, NATO.L returned 17.19% vs -52.28% for BCH-USD. At a 0.11 correlation, their price movements are largely independent.

Performance

NATO.L vs. BCH-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) and Bitcoin Cash (BCH-USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NATO.L achieves a 10.38% return, which is significantly higher than BCH-USD's -66.18% return.

NATO.L

• 1D: 0.00%
• 1M: 5.24%
• YTD: 10.38%
• 6M: 11.03%
• 1Y: 17.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCH-USD

• 1D: -1.33%
• 1M: -53.36%
• YTD: -66.18%
• 6M: -65.21%
• 1Y: -52.28%
• 3Y*: 24.32%
• 5Y*: -19.90%
• 10Y*: —

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

NATO.L vs. BCH-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NATO.L HANetf Future of Defence UCITS ETF - Accumulating	10.38%	54.83%	31.99%	16.64%
BCH-USD Bitcoin Cash	-66.18%	38.15%	66.88%	-13.19%

Correlation

The correlation between NATO.L and BCH-USD is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023	0.11

Return for Risk

NATO.L vs. BCH-USD — Risk / Return Rank

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

NATO.L

NATO.L Risk / Return Rank: 27
NATO.L Sharpe Ratio Rank: 27
NATO.L Sortino Ratio Rank: 27
NATO.L Omega Ratio Rank: 25
NATO.L Calmar Ratio Rank: 31
NATO.L Martin Ratio Rank: 27

BCH-USD

BCH-USD Risk / Return Rank: 40
BCH-USD Sharpe Ratio Rank: 44
BCH-USD Sortino Ratio Rank: 51
BCH-USD Omega Ratio Rank: 49
BCH-USD Calmar Ratio Rank: 57
BCH-USD Martin Ratio Rank: 1

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.

NATO.L vs. BCH-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) and Bitcoin Cash (BCH-USD). 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.

	NATO.L	BCH-USD	Difference
Sharpe ratio: Return per unit of total volatility	0.85	-0.75	+1.60
Sortino ratio: Return per unit of downside risk	1.31	-0.99	+2.31
Omega ratio: Gain probability vs. loss probability	1.15	0.90	+0.25
Calmar ratio: Return relative to maximum drawdown	1.34	-0.74	+2.08
Martin ratio: Return relative to average drawdown	3.23	-2.25	+5.48

NATO.L vs. BCH-USD - Sharpe Ratio Comparison

The current NATO.L Sharpe Ratio is 0.85, which is higher than the BCH-USD Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of NATO.L and BCH-USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NATO.L vs. BCH-USD - Drawdown Comparison

The maximum NATO.L drawdown since its inception was -12.87%, smaller than the maximum BCH-USD drawdown of -97.96%. Use the drawdown chart below to compare losses from any high point for NATO.L and BCH-USD.

Drawdown Indicators

	NATO.L	BCH-USD	Difference
Max Drawdown Largest peak-to-trough decline	-12.87%	-97.96%	+85.09%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	-70.31%	+57.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-72.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-88.64%	—
Current Drawdown Current decline from peak	-4.45%	-94.59%	+90.14%
Average Drawdown Average peak-to-trough decline	-2.59%	-86.07%	+83.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.31%	27.17%	-21.86%

Volatility

NATO.L vs. BCH-USD - Volatility Comparison

The current volatility for HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) is 7.02%, while Bitcoin Cash (BCH-USD) has a volatility of 26.34%. This indicates that NATO.L experiences smaller price fluctuations and is considered to be less risky than BCH-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NATO.L	BCH-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.02%	26.34%	-19.32%
Volatility (6M) Calculated over the trailing 6-month period	16.02%	50.21%	-34.19%
Volatility (1Y) Calculated over the trailing 1-year period	20.17%	57.78%	-37.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.14%	70.17%	-51.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.14%	97.90%	-78.76%

Frequently Asked Questions

Can I hold both NATO.L and BCH-USD in my portfolio?

NATO.L and BCH-USD have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.