NATO vs. JIVE

Last updated Jun 20, 2026

NATO (Themes Transatlantic Defense ETF) and JIVE (Jpmorgan International Value ETF) are both exchange-traded funds - NATO is a Aerospace & Defense fund tracking the Solactive Transatlantic Aerospace and Defense Index, while JIVE is a Foreign Large Cap Equities fund actively managed by JPMorgan. NATO is passively managed, while JIVE is actively managed. Over the past year, NATO returned 19.92% vs 44.79% for JIVE. At a 0.48 correlation, their price movements are largely independent. NATO charges 0.35%/yr vs 0.55%/yr for JIVE.

Performance

NATO vs. JIVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Transatlantic Defense ETF (NATO) and Jpmorgan International Value ETF (JIVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NATO achieves a 5.94% return, which is significantly lower than JIVE's 17.00% return.

NATO

• 1D: -0.89%
• 1M: 4.23%
• YTD: 5.94%
• 6M: 7.14%
• 1Y: 19.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JIVE

• 1D: 0.32%
• 1M: 1.66%
• YTD: 17.00%
• 6M: 18.43%
• 1Y: 44.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NATO vs. JIVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NATO Themes Transatlantic Defense ETF	5.94%	50.95%	0.51%
JIVE Jpmorgan International Value ETF	17.00%	49.80%	-4.69%

Correlation

The correlation between NATO and JIVE is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	0.48

The correlation between NATO and JIVE has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.

Return for Risk

NATO vs. JIVE — Risk / Return Rank

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

NATO

NATO Risk / Return Rank: 26
NATO Sharpe Ratio Rank: 27
NATO Sortino Ratio Rank: 27
NATO Omega Ratio Rank: 25
NATO Calmar Ratio Rank: 26
NATO Martin Ratio Rank: 24

JIVE

JIVE Risk / Return Rank: 87
JIVE Sharpe Ratio Rank: 91
JIVE Sortino Ratio Rank: 89
JIVE Omega Ratio Rank: 88
JIVE Calmar Ratio Rank: 83
JIVE Martin Ratio Rank: 83

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. JIVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Transatlantic Defense ETF (NATO) and Jpmorgan International Value ETF (JIVE). 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	JIVE	Difference
Sharpe ratio: Return per unit of total volatility	0.92	2.94	-2.01
Sortino ratio: Return per unit of downside risk	1.45	3.84	-2.38
Omega ratio: Gain probability vs. loss probability	1.17	1.52	-0.35
Calmar ratio: Return relative to maximum drawdown	1.24	4.17	-2.93
Martin ratio: Return relative to average drawdown	3.02	16.00	-12.98

NATO vs. JIVE - Sharpe Ratio Comparison

The current NATO Sharpe Ratio is 0.92, which is lower than the JIVE Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of NATO and JIVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NATO vs. JIVE - Drawdown Comparison

The maximum NATO drawdown since its inception was -15.99%, which is greater than JIVE's maximum drawdown of -13.79%. Use the drawdown chart below to compare losses from any high point for NATO and JIVE.

Drawdown Indicators

	NATO	JIVE	Difference
Max Drawdown Largest peak-to-trough decline	-15.99%	-13.79%	-2.20%
Max Drawdown (1Y) Largest decline over 1 year	-15.99%	-10.57%	-5.42%
Current Drawdown Current decline from peak	-8.37%	-0.67%	-7.70%
Average Drawdown Average peak-to-trough decline	-3.87%	-1.95%	-1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.52%	2.75%	+3.77%

Volatility

NATO vs. JIVE - Volatility Comparison

Themes Transatlantic Defense ETF (NATO) has a higher volatility of 7.69% compared to Jpmorgan International Value ETF (JIVE) at 5.49%. This indicates that NATO's price experiences larger fluctuations and is considered to be riskier than JIVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NATO	JIVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	5.49%	+2.20%
Volatility (6M) Calculated over the trailing 6-month period	18.38%	12.72%	+5.66%
Volatility (1Y) Calculated over the trailing 1-year period	21.43%	15.00%	+6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.75%	15.10%	+7.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.75%	15.10%	+7.65%

NATO vs. JIVE - Expense Ratio Comparison

NATO has a 0.35% expense ratio, which is lower than JIVE's 0.55% expense ratio.

Dividends

NATO vs. JIVE - Dividend Comparison

NATO's dividend yield for the trailing twelve months is around 0.43%, less than JIVE's 2.46% yield.

Position	TTM	2025	2024	2023
JIVE Jpmorgan International Value ETF	2.46%	2.88%	2.48%	0.74%
NATO Themes Transatlantic Defense ETF	0.43%	0.45%	0.08%	0.00%

Frequently Asked Questions

Can I hold both NATO and JIVE in my portfolio?

NATO and JIVE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NATO or JIVE?

NATO has higher volatility (7.69%) compared to JIVE (5.49%). In terms of maximum drawdown, NATO dropped -15.99% vs JIVE's -13.79%.

Which ETF is better, NATO or JIVE?

On 1-year performance, JIVE leads with 44.79% vs 19.92% for NATO. On fees, NATO is cheaper at 0.35% per year. On volatility, JIVE has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NATO or JIVE?

Over the 1-year period, JIVE has performed better with a 44.79% return vs 19.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NATO or JIVE?

NATO is cheaper with a 0.35% expense ratio, compared with 0.55% for JIVE.

Which ETF pays a higher dividend yield, NATO or JIVE?

JIVE has the higher dividend yield at 2.46%, compared with 0.43% for NATO.

What is the main difference between NATO and JIVE?

NATO is categorized as Aerospace & Defense, while JIVE is Foreign Large Cap Equities. They also come from different issuers: Themes and JPMorgan. Their fees differ too: 0.35% for NATO and 0.55% for JIVE.

Which has better risk-adjusted returns?

JIVE currently has the higher Sharpe Ratio (2.94 vs 0.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.