NATO.L vs. XEON.DE
NATO.L (HANetf Future of Defence UCITS ETF - Accumulating) and XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) are both exchange-traded funds - NATO.L is a Aerospace & Defense fund tracking the EQM Future of Defence Index, while XEON.DE is a Bank Loan fund tracking the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past year, NATO.L returned 17.19% vs 3.02% for XEON.DE. At a 0.15 correlation, their price movements are largely independent. NATO.L charges 0.49%/yr vs 0.10%/yr for XEON.DE.
Performance
NATO.L vs. XEON.DE - Performance Comparison
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Different Trading Currencies
NATO.L is traded in USD, while XEON.DE is traded in EUR. To make them comparable, the XEON.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 10.38% return, which is significantly higher than XEON.DE's -0.38% return.
NATO.L
- 1D
- 0.00%
- 1M
- 5.24%
- YTD
- 10.38%
- 6M
- 11.03%
- 1Y
- 17.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XEON.DE
- 1D
- 0.10%
- 1M
- -0.99%
- YTD
- -0.38%
- 6M
- -0.18%
- 1Y
- 3.02%
- 3Y*
- 5.79%
- 5Y*
- 0.99%
- 10Y*
- 0.93%
NATO.L vs. XEON.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% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | -0.38% | 15.43% | -2.15% | 3.08% |
Correlation
The correlation between NATO.L and XEON.DE is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023 | 0.15 |
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Return for Risk
NATO.L vs. XEON.DE — Risk / Return Rank
NATO.L
XEON.DE
NATO.L vs. XEON.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 Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.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 | XEON.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.11 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 0.75 | +0.59 |
| Martin ratioReturn relative to average drawdown | 3.23 | 1.90 | +1.33 |
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Drawdowns
NATO.L vs. XEON.DE - Drawdown Comparison
The maximum NATO.L drawdown since its inception was -12.87%, smaller than the maximum XEON.DE drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for NATO.L and XEON.DE.
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Drawdown Indicators
| NATO.L | XEON.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.87% | -40.00% | +27.13% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -4.95% | -7.84% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.52% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.15% | — |
Current DrawdownCurrent decline from peak | -4.45% | -19.51% | +15.06% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -21.19% | +18.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 1.95% | +3.36% |
Volatility
NATO.L vs. XEON.DE - Volatility Comparison
HANetf Future of Defence UCITS ETF - Accumulating (NATO.L) has a higher volatility of 7.02% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) at 1.21%. This indicates that NATO.L's price experiences larger fluctuations and is considered to be riskier than XEON.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 | XEON.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 1.21% | +5.81% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 4.37% | +11.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.17% | 6.33% | +13.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.14% | 7.62% | +11.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.14% | 7.32% | +11.82% |
NATO.L vs. XEON.DE - Expense Ratio Comparison
NATO.L has a 0.49% expense ratio, which is higher than XEON.DE's 0.10% expense ratio.
Dividends
NATO.L vs. XEON.DE - Dividend Comparison
Neither NATO.L nor XEON.DE has paid dividends to shareholders.
Frequently Asked Questions
NATO.L and XEON.DE have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.49% for NATO.L.
NATO.L is categorized as Aerospace & Defense, while XEON.DE is Bank Loan. NATO.L tracks EQM Future of Defence Index, while XEON.DE tracks Solactive €STR +8.5 Daily Index. They also come from different issuers: HANetf and Xtrackers. Their fees differ too: 0.49% for NATO.L and 0.10% for XEON.DE.
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