NATO vs. IPRP.L
NATO (Themes Transatlantic Defense ETF) and IPRP.L (iShares European Property Yield UCITS ETF) are both exchange-traded funds - NATO is a Aerospace & Defense fund tracking the Solactive Transatlantic Aerospace and Defense Index, while IPRP.L is a REIT fund tracking the FTSE EPRA Nareit Developed Europe TR EUR. Both are passively managed. Over the past year, NATO returned 17.50% vs 1.07% for IPRP.L. At a 0.19 correlation, their price movements are largely independent. NATO charges 0.35%/yr vs 0.40%/yr for IPRP.L.
Performance
NATO vs. IPRP.L - Performance Comparison
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Different Trading Currencies
NATO is traded in USD, while IPRP.L is traded in GBp. To make them comparable, the IPRP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NATO achieves a 4.09% return, which is significantly higher than IPRP.L's 0.02% return.
NATO
- 1D
- -0.90%
- 1M
- 5.95%
- YTD
- 4.09%
- 6M
- 7.29%
- 1Y
- 17.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IPRP.L
- 1D
- 1.44%
- 1M
- 1.04%
- YTD
- 0.02%
- 6M
- 2.90%
- 1Y
- 1.07%
- 3Y*
- 13.77%
- 5Y*
- -5.25%
- 10Y*
- 1.35%
NATO vs. IPRP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NATO Themes Transatlantic Defense ETF | 4.09% | 50.95% | 0.51% |
IPRP.L iShares European Property Yield UCITS ETF | 0.02% | 22.21% | -11.79% |
Correlation
The correlation between NATO and IPRP.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024 | 0.19 |
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Return for Risk
NATO vs. IPRP.L — Risk / Return Rank
NATO
IPRP.L
NATO vs. IPRP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Transatlantic Defense ETF (NATO) and iShares European Property Yield UCITS ETF (IPRP.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.
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 | IPRP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.01 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | -0.02 | +1.15 |
| Martin ratioReturn relative to average drawdown | 2.81 | -0.05 | +2.85 |
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Drawdowns
NATO vs. IPRP.L - Drawdown Comparison
The maximum NATO drawdown since its inception was -15.99%, smaller than the maximum IPRP.L drawdown of -73.26%. Use the drawdown chart below to compare losses from any high point for NATO and IPRP.L.
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Drawdown Indicators
| NATO | IPRP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -73.26% | +57.27% |
Max Drawdown (1Y)Largest decline over 1 year | -15.99% | -17.54% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.80% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -58.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.02% | — |
Current DrawdownCurrent decline from peak | -9.97% | -26.11% | +16.14% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -20.10% | +16.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.44% | 7.11% | -0.67% |
Volatility
NATO vs. IPRP.L - Volatility Comparison
Themes Transatlantic Defense ETF (NATO) has a higher volatility of 8.57% compared to iShares European Property Yield UCITS ETF (IPRP.L) at 4.94%. This indicates that NATO's price experiences larger fluctuations and is considered to be riskier than IPRP.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 | IPRP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.57% | 4.94% | +3.63% |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | 14.03% | +4.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.36% | 16.94% | +4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.81% | 24.17% | -1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.81% | 21.42% | +1.39% |
NATO vs. IPRP.L - Expense Ratio Comparison
NATO has a 0.35% expense ratio, which is lower than IPRP.L's 0.40% expense ratio.
Dividends
NATO vs. IPRP.L - Dividend Comparison
NATO's dividend yield for the trailing twelve months is around 0.43%, less than IPRP.L's 0.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPRP.L iShares European Property Yield UCITS ETF | 0.50% | 2.83% | 2.79% | 2.62% | 4.20% | 2.11% | 2.68% | 3.07% | 3.24% | 2.81% | 2.49% | 2.59% |
NATO Themes Transatlantic Defense ETF | 0.43% | 0.45% | 0.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NATO and IPRP.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NATO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NATO is cheaper with a 0.35% expense ratio, compared with 0.40% for IPRP.L.
NATO is categorized as Aerospace & Defense, while IPRP.L is REIT. NATO tracks Solactive Transatlantic Aerospace and Defense Index, while IPRP.L tracks FTSE EPRA Nareit Developed Europe TR EUR. They also come from different issuers: Themes and iShares. Their fees differ too: 0.35% for NATO and 0.40% for IPRP.L.
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