NATO.L vs. SSLN.L
NATO.L (HANetf Future of Defence UCITS ETF - Accumulating) and SSLN.L (iShares Physical Silver ETC) are both exchange-traded funds - NATO.L is a Aerospace & Defense fund tracking the EQM Future of Defence Index, while SSLN.L is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past year, NATO.L returned 20.56% vs 112.44% for SSLN.L. At a 0.22 correlation, their price movements are largely independent. NATO.L charges 0.49%/yr vs 0.20%/yr for SSLN.L.
Performance
NATO.L vs. SSLN.L - Performance Comparison
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Different Trading Currencies
NATO.L is traded in USD, while SSLN.L is traded in GBp. To make them comparable, the SSLN.L 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 SSLN.L's 2.44% return.
NATO.L
- 1D
- -0.78%
- 1M
- 8.86%
- YTD
- 13.05%
- 6M
- 17.53%
- 1Y
- 20.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SSLN.L
- 1D
- -3.30%
- 1M
- -3.12%
- YTD
- 2.44%
- 6M
- 24.62%
- 1Y
- 112.44%
- 3Y*
- 45.47%
- 5Y*
- 21.59%
- 10Y*
- 15.86%
NATO.L vs. SSLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NATO.L HANetf Future of Defence UCITS ETF - Accumulating | 13.05% | 54.83% | 31.99% | 16.64% |
SSLN.L iShares Physical Silver ETC | 2.44% | 147.64% | 21.15% | 3.30% |
Correlation
The correlation between NATO.L and SSLN.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2023 | 0.22 |
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Return for Risk
NATO.L vs. SSLN.L — Risk / Return Rank
NATO.L
SSLN.L
NATO.L vs. SSLN.L - 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 Physical Silver ETC (SSLN.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.
| NATO.L | SSLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.35 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 2.74 | -1.14 |
| Martin ratioReturn relative to average drawdown | 3.91 | 6.02 | -2.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NATO.L | SSLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 2.00 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | 0.12 | +1.34 |
Drawdowns
NATO.L vs. SSLN.L - Drawdown Comparison
The maximum NATO.L drawdown since its inception was -21.84%, smaller than the maximum SSLN.L drawdown of -76.85%. Use the drawdown chart below to compare losses from any high point for NATO.L and SSLN.L.
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Drawdown Indicators
| NATO.L | SSLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.84% | -76.85% | +55.01% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -40.85% | +28.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -40.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.60% | — |
Current DrawdownCurrent decline from peak | -2.14% | -35.76% | +33.62% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -53.91% | +51.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.25% | 18.62% | -13.37% |
Volatility
NATO.L vs. SSLN.L - Volatility Comparison
The current volatility for HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) is 6.19%, while iShares Physical Silver ETC (SSLN.L) has a volatility of 17.28%. This indicates that NATO.L experiences smaller price fluctuations and is considered to be less risky than SSLN.L 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 | SSLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.19% | 17.28% | -11.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.99% | 53.52% | -37.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.05% | 55.92% | -35.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.57% | 35.31% | -7.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.57% | 31.02% | -3.45% |
NATO.L vs. SSLN.L - Expense Ratio Comparison
NATO.L has a 0.49% expense ratio, which is higher than SSLN.L's 0.20% expense ratio.
Dividends
NATO.L vs. SSLN.L - Dividend Comparison
Neither NATO.L nor SSLN.L has paid dividends to shareholders.
Frequently Asked Questions
NATO.L and SSLN.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SSLN.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSLN.L is cheaper with a 0.20% expense ratio, compared with 0.49% for NATO.L.
NATO.L is categorized as Aerospace & Defense, while SSLN.L is Silver. NATO.L tracks EQM Future of Defence Index, while SSLN.L tracks LBMA Silver Price. They also come from different issuers: HANetf and iShares. Their fees differ too: 0.49% for NATO.L and 0.20% for SSLN.L.
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