NATO.L vs. VWCE.DE
NATO.L (HANetf Future of Defence UCITS ETF - Accumulating) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - NATO.L is a Aerospace & Defense fund tracking the EQM Future of Defence Index, while VWCE.DE is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past year, NATO.L returned 17.19% vs 25.62% for VWCE.DE. A 0.62 correlation means they provide meaningful diversification when combined. NATO.L charges 0.49%/yr vs 0.19%/yr for VWCE.DE.
Performance
NATO.L vs. VWCE.DE - Performance Comparison
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Different Trading Currencies
NATO.L is traded in USD, while VWCE.DE is traded in EUR. To make them comparable, the VWCE.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 VWCE.DE slightly lower at 10.00%.
NATO.L
- 1D
- 0.00%
- 1M
- 5.24%
- YTD
- 10.38%
- 6M
- 11.03%
- 1Y
- 17.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VWCE.DE
- 1D
- 1.71%
- 1M
- 0.81%
- YTD
- 10.00%
- 6M
- 11.71%
- 1Y
- 25.62%
- 3Y*
- 19.75%
- 5Y*
- 10.87%
- 10Y*
- —
NATO.L vs. VWCE.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% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 10.00% | 23.23% | 17.30% | 7.28% |
Correlation
The correlation between NATO.L and VWCE.DE is 0.50, 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 | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023 | 0.62 |
The correlation between NATO.L and VWCE.DE shifts across timeframes, from 0.50 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NATO.L vs. VWCE.DE — Risk / Return Rank
NATO.L
VWCE.DE
NATO.L vs. VWCE.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 Vanguard FTSE All-World UCITS ETF (VWCE.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 | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.36 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.86 | -1.52 |
| Martin ratioReturn relative to average drawdown | 3.23 | 11.93 | -8.70 |
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Drawdowns
NATO.L vs. VWCE.DE - Drawdown Comparison
The maximum NATO.L drawdown since its inception was -12.87%, smaller than the maximum VWCE.DE drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for NATO.L and VWCE.DE.
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Drawdown Indicators
| NATO.L | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.87% | -33.91% | +21.04% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -8.91% | -3.88% |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.27% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.11% | — |
Current DrawdownCurrent decline from peak | -4.45% | -2.01% | -2.44% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -5.43% | +2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 2.14% | +3.17% |
Volatility
NATO.L vs. VWCE.DE - Volatility Comparison
HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) has a higher volatility of 7.02% compared to Vanguard FTSE All-World UCITS ETF (VWCE.DE) at 3.93%. This indicates that NATO.L's price experiences larger fluctuations and is considered to be riskier than VWCE.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 | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 3.93% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 9.70% | +6.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.17% | 12.46% | +7.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.14% | 15.33% | +3.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.14% | 17.33% | +1.81% |
NATO.L vs. VWCE.DE - Expense Ratio Comparison
NATO.L has a 0.49% expense ratio, which is higher than VWCE.DE's 0.19% expense ratio.
Dividends
NATO.L vs. VWCE.DE - Dividend Comparison
Neither NATO.L nor VWCE.DE has paid dividends to shareholders.
Frequently Asked Questions
NATO.L and VWCE.DE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWCE.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWCE.DE is cheaper with a 0.19% expense ratio, compared with 0.49% for NATO.L.
NATO.L is categorized as Aerospace & Defense, while VWCE.DE is Global Equities. NATO.L tracks EQM Future of Defence Index, while VWCE.DE tracks FTSE All-World Index. They also come from different issuers: HANetf and Vanguard. Their fees differ too: 0.49% for NATO.L and 0.19% for VWCE.DE.
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