NATO.L vs. I500.DE
NATO.L (HANetf Future of Defence UCITS ETF - Accumulating) and I500.DE (iShares S&P 500 Swap UCITS ETF USD (Acc)) are both exchange-traded funds - NATO.L is a Aerospace & Defense fund tracking the EQM Future of Defence Index, while I500.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, NATO.L returned 17.19% vs 26.67% for I500.DE. A 0.60 correlation means they provide meaningful diversification when combined. NATO.L charges 0.49%/yr vs 0.07%/yr for I500.DE.
Performance
NATO.L vs. I500.DE - Performance Comparison
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Different Trading Currencies
NATO.L is traded in USD, while I500.DE is traded in EUR. To make them comparable, the I500.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with NATO.L having a 10.38% return and I500.DE slightly lower at 10.15%.
NATO.L
- 1D
- 0.00%
- 1M
- 5.24%
- YTD
- 10.38%
- 6M
- 11.03%
- 1Y
- 17.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
I500.DE
- 1D
- -0.02%
- 1M
- 2.06%
- YTD
- 10.15%
- 6M
- 11.49%
- 1Y
- 26.67%
- 3Y*
- 22.32%
- 5Y*
- 13.93%
- 10Y*
- —
NATO.L vs. I500.DE - 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% |
I500.DE iShares S&P 500 Swap UCITS ETF USD (Acc) | 10.15% | 18.47% | 24.92% | 8.48% |
Correlation
The correlation between NATO.L and I500.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023 | 0.60 |
The correlation between NATO.L and I500.DE shifts across timeframes, from 0.49 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NATO.L vs. I500.DE — Risk / Return Rank
NATO.L
I500.DE
NATO.L vs. I500.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 iShares S&P 500 Swap UCITS ETF USD (Acc) (I500.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.
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 | I500.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.42 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 3.26 | -1.92 |
| Martin ratioReturn relative to average drawdown | 3.23 | 13.83 | -10.60 |
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Drawdowns
NATO.L vs. I500.DE - Drawdown Comparison
The maximum NATO.L drawdown since its inception was -12.87%, smaller than the maximum I500.DE drawdown of -24.15%. Use the drawdown chart below to compare losses from any high point for NATO.L and I500.DE.
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Drawdown Indicators
| NATO.L | I500.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.87% | -24.15% | +11.28% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -8.53% | -4.26% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.15% | — |
Current DrawdownCurrent decline from peak | -4.45% | -0.63% | -3.82% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -5.02% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 2.01% | +3.30% |
Volatility
NATO.L vs. I500.DE - Volatility Comparison
HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) has a higher volatility of 7.02% compared to iShares S&P 500 Swap UCITS ETF USD (Acc) (I500.DE) at 2.83%. This indicates that NATO.L's price experiences larger fluctuations and is considered to be riskier than I500.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NATO.L | I500.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 2.83% | +4.19% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 8.11% | +7.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.17% | 11.62% | +8.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.14% | 15.90% | +3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.14% | 15.89% | +3.25% |
NATO.L vs. I500.DE - Expense Ratio Comparison
NATO.L has a 0.49% expense ratio, which is higher than I500.DE's 0.07% expense ratio.
Dividends
NATO.L vs. I500.DE - Dividend Comparison
Neither NATO.L nor I500.DE has paid dividends to shareholders.
Frequently Asked Questions
NATO.L and I500.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, I500.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
I500.DE is cheaper with a 0.07% expense ratio, compared with 0.49% for NATO.L.
NATO.L is categorized as Aerospace & Defense, while I500.DE is S&P 500. NATO.L tracks EQM Future of Defence Index, while I500.DE tracks S&P 500 Index. They also come from different issuers: HANetf and iShares. Their fees differ too: 0.49% for NATO.L and 0.07% for I500.DE.
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