NATO vs. BRK-B

Last updated Apr 2, 2026

Compare and contrast key facts about Themes Transatlantic Defense ETF (NATO) and Berkshire Hathaway Inc. (BRK-B).

NATO is a passively managed fund by Themes that tracks the performance of the Solactive Transatlantic Aerospace and Defense Index. It was launched on Oct 10, 2024.

Performance

NATO vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Transatlantic Defense ETF (NATO) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

NATO vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NATO Themes Transatlantic Defense ETF	4.74%	50.95%	0.35%
BRK-B Berkshire Hathaway Inc.	-4.80%	10.89%	-1.51%

Returns By Period

In the year-to-date period, NATO achieves a 4.74% return, which is significantly higher than BRK-B's -4.80% return.

NATO

• 1D: 3.93%
• 1M: -9.41%
• YTD: 4.74%
• 6M: 2.91%
• 1Y: 38.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRK-B

• 1D: -0.15%
• 1M: -0.35%
• YTD: -4.80%
• 6M: -3.95%
• 1Y: -10.22%
• 3Y*: 15.72%
• 5Y*: 13.13%
• 10Y*: 12.78%

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

Return for Risk

NATO vs. BRK-B — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NATO

NATO Risk / Return Rank: 83
NATO Sharpe Ratio Rank: 83
NATO Sortino Ratio Rank: 85
NATO Omega Ratio Rank: 81
NATO Calmar Ratio Rank: 83
NATO Martin Ratio Rank: 81

BRK-B

BRK-B Risk / Return Rank: 17
BRK-B Sharpe Ratio Rank: 16
BRK-B Sortino Ratio Rank: 16
BRK-B Omega Ratio Rank: 16
BRK-B Calmar Ratio Rank: 17
BRK-B Martin Ratio Rank: 19

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 vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Transatlantic Defense ETF (NATO) and Berkshire Hathaway Inc. (BRK-B). 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	BRK-B	Difference
Sharpe ratio Return per unit of total volatility	1.69	-0.56	+2.25
Sortino ratio Return per unit of downside risk	2.34	-0.65	+2.99
Omega ratio Gain probability vs. loss probability	1.33	0.91	+0.41
Calmar ratio Return relative to maximum drawdown	2.49	-0.68	+3.17
Martin ratio Return relative to average drawdown	9.26	-1.16	+10.43
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 vs. BRK-B - Sharpe Ratio Comparison

The current NATO Sharpe Ratio is 1.69, which is higher than the BRK-B Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of NATO and BRK-B, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NATO	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	-0.56	+2.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.70	0.48	+1.22

Correlation

The correlation between NATO and BRK-B is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NATO vs. BRK-B - Dividend Comparison

NATO's dividend yield for the trailing twelve months is around 0.43%, while BRK-B has not paid dividends to shareholders.

	TTM	2025	2024
NATO Themes Transatlantic Defense ETF	0.43%	0.45%	0.08%
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%

Drawdowns

NATO vs. BRK-B - Drawdown Comparison

The maximum NATO drawdown since its inception was -15.99%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for NATO and BRK-B.

Drawdown Indicators

	NATO	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-15.99%	-53.86%	+37.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.99%	-14.95%	-1.04%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-9.41%	-11.36%	+1.95%
Average Drawdown Average peak-to-trough decline	-2.88%	-11.07%	+8.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	8.72%	-4.42%

Volatility

NATO vs. BRK-B - Volatility Comparison

Themes Transatlantic Defense ETF (NATO) has a higher volatility of 9.42% compared to Berkshire Hathaway Inc. (BRK-B) at 4.33%. This indicates that NATO's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NATO	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.42%	4.33%	+5.09%
Volatility (6M) Calculated over the trailing 6-month period	15.43%	11.14%	+4.29%
Volatility (1Y) Calculated over the trailing 1-year period	22.94%	18.30%	+4.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.95%	17.20%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.95%	19.45%	+2.50%