NATO.L vs. EUDF.DE

Last updated Jun 4, 2026

NATO.L (HANetf Future of Defence UCITS ETF - Accumulating) and EUDF.DE (WisdomTree Europe Defence UCITS ETF - EUR Acc) are both Aerospace & Defense funds - NATO.L tracks the EQM Future of Defence Index while EUDF.DE tracks the WisdomTree Europe Defence UCITS Index (NTR). Both are passively managed. Over the past year, NATO.L returned 20.56% vs -3.25% for EUDF.DE. A 0.78 correlation means they provide meaningful diversification when combined. NATO.L charges 0.49%/yr vs 0.40%/yr for EUDF.DE.

Performance

NATO.L vs. EUDF.DE - 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 WisdomTree Europe Defence UCITS ETF - EUR Acc (EUDF.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NATO.L is traded in USD, while EUDF.DE is traded in EUR. To make them comparable, the EUDF.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, NATO.L achieves a 13.05% return, which is significantly higher than EUDF.DE's 0.05% return.

NATO.L

• 1D: -0.78%
• 1M: 8.86%
• YTD: 13.05%
• 6M: 17.53%
• 1Y: 20.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EUDF.DE

• 1D: -1.42%
• 1M: -3.79%
• YTD: 0.05%
• 6M: 4.54%
• 1Y: -3.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NATO.L vs. EUDF.DE - Yearly Performance Comparison

	2026 (YTD)	2025
NATO.L HANetf Future of Defence UCITS ETF - Accumulating	13.05%	31.67%
EUDF.DE WisdomTree Europe Defence UCITS ETF - EUR Acc	0.05%	27.56%

Correlation

The correlation between NATO.L and EUDF.DE is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Mar 12, 2025	0.78

The correlation between NATO.L and EUDF.DE has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

Return for Risk

NATO.L vs. EUDF.DE — 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: 28
NATO.L Sharpe Ratio Rank: 28
NATO.L Sortino Ratio Rank: 28
NATO.L Omega Ratio Rank: 26
NATO.L Calmar Ratio Rank: 32
NATO.L Martin Ratio Rank: 27

EUDF.DE

EUDF.DE Risk / Return Rank: 7
EUDF.DE Sharpe Ratio Rank: 7
EUDF.DE Sortino Ratio Rank: 7
EUDF.DE Omega Ratio Rank: 7
EUDF.DE Calmar Ratio Rank: 6
EUDF.DE Martin Ratio Rank: 6

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. EUDF.DE - 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 WisdomTree Europe Defence UCITS ETF - EUR Acc (EUDF.DE). 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.

	NATO.L	EUDF.DE	Difference
Sharpe ratio Return per unit of total volatility	1.02	-0.11	+1.13
Sortino ratio Return per unit of downside risk	1.53	0.06	+1.48
Omega ratio Gain probability vs. loss probability	1.18	1.01	+0.17
Calmar ratio Return relative to maximum drawdown	1.60	-0.16	+1.76
Martin ratio Return relative to average drawdown	3.91	-0.37	+4.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NATO.L vs. EUDF.DE - Sharpe Ratio Comparison

The current NATO.L Sharpe Ratio is 1.02, which is higher than the EUDF.DE Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of NATO.L and EUDF.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NATO.L	EUDF.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	-0.11	+1.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.46	0.67	+0.79

Drawdowns

NATO.L vs. EUDF.DE - Drawdown Comparison

The maximum NATO.L drawdown since its inception was -21.84%, which is greater than EUDF.DE's maximum drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for NATO.L and EUDF.DE.

Drawdown Indicators

	NATO.L	EUDF.DE	Difference
Max Drawdown Largest peak-to-trough decline	-21.84%	-20.44%	-1.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	-20.44%	+7.65%
Current Drawdown Current decline from peak	-2.14%	-16.21%	+14.07%
Average Drawdown Average peak-to-trough decline	-2.63%	-6.34%	+3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.25%	8.80%	-3.55%

Volatility

NATO.L vs. EUDF.DE - Volatility Comparison

The current volatility for HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) is 6.19%, while WisdomTree Europe Defence UCITS ETF - EUR Acc (EUDF.DE) has a volatility of 10.59%. This indicates that NATO.L experiences smaller price fluctuations and is considered to be less risky than EUDF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NATO.L	EUDF.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	10.59%	-4.40%
Volatility (6M) Calculated over the trailing 6-month period	15.99%	23.30%	-7.31%
Volatility (1Y) Calculated over the trailing 1-year period	20.05%	30.24%	-10.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.57%	32.60%	-5.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.57%	32.60%	-5.03%

NATO.L vs. EUDF.DE - Expense Ratio Comparison

NATO.L has a 0.49% expense ratio, which is higher than EUDF.DE's 0.40% expense ratio.

Dividends

NATO.L vs. EUDF.DE - Dividend Comparison

Neither NATO.L nor EUDF.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NATO.L and EUDF.DE in my portfolio?

NATO.L and EUDF.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NATO.L or EUDF.DE?

On fees, EUDF.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NATO.L or EUDF.DE?

EUDF.DE is cheaper with a 0.40% expense ratio, compared with 0.49% for NATO.L.

What is the main difference between NATO.L and EUDF.DE?

NATO.L tracks EQM Future of Defence Index, while EUDF.DE tracks WisdomTree Europe Defence UCITS Index (NTR). They also come from different issuers: HANetf and WisdomTree. Their fees differ too: 0.49% for NATO.L and 0.40% for EUDF.DE.