NATO vs. SPGI
NATO (Themes Transatlantic Defense ETF) is Aerospace & Defense fund tracking the Solactive Transatlantic Aerospace and Defense Index, while SPGI (S&P Global Inc.) is a stock. Over the past year, NATO returned 17.50% vs -15.77% for SPGI. At a 0.31 correlation, their price movements are largely independent.
Performance
NATO vs. SPGI - Performance Comparison
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Returns By Period
In the year-to-date period, NATO achieves a 4.09% return, which is significantly higher than SPGI's -19.47% return.
NATO
- 1D
- -0.90%
- 1M
- 5.95%
- YTD
- 4.09%
- 6M
- 7.29%
- 1Y
- 17.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPGI
- 1D
- 1.35%
- 1M
- 4.15%
- YTD
- -19.47%
- 6M
- -16.00%
- 1Y
- -15.77%
- 3Y*
- 3.19%
- 5Y*
- 2.16%
- 10Y*
- 15.70%
NATO vs. SPGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NATO Themes Transatlantic Defense ETF | 4.09% | 50.95% | 0.51% |
SPGI S&P Global Inc. | -19.47% | 5.71% | -3.15% |
Correlation
The correlation between NATO and SPGI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024 | 0.31 |
The correlation between NATO and SPGI shifts across timeframes, from 0.20 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NATO vs. SPGI — Risk / Return Rank
NATO
SPGI
NATO vs. SPGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Transatlantic Defense ETF (NATO) and S&P Global Inc. (SPGI). 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 | SPGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.91 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | -0.54 | +1.68 |
| Martin ratioReturn relative to average drawdown | 2.81 | -1.03 | +3.83 |
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Drawdowns
NATO vs. SPGI - Drawdown Comparison
The maximum NATO drawdown since its inception was -15.99%, smaller than the maximum SPGI drawdown of -74.67%. Use the drawdown chart below to compare losses from any high point for NATO and SPGI.
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Drawdown Indicators
| NATO | SPGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.99% | -74.67% | +58.68% |
Max Drawdown (1Y)Largest decline over 1 year | -15.99% | -30.48% | +14.49% |
Max Drawdown (3Y)Largest decline over 3 years | — | -30.48% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.76% | — |
Current DrawdownCurrent decline from peak | -9.97% | -25.12% | +15.15% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -15.23% | +11.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.44% | 16.07% | -9.63% |
Volatility
NATO vs. SPGI - Volatility Comparison
Themes Transatlantic Defense ETF (NATO) has a higher volatility of 8.57% compared to S&P Global Inc. (SPGI) at 7.62%. This indicates that NATO's price experiences larger fluctuations and is considered to be riskier than SPGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NATO | SPGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.57% | 7.62% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | 24.13% | -5.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.36% | 27.63% | -6.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.81% | 24.51% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.81% | 26.03% | -3.22% |
Dividends
NATO vs. SPGI - Dividend Comparison
NATO's dividend yield for the trailing twelve months is around 0.43%, less than SPGI's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPGI S&P Global Inc. | 0.92% | 0.73% | 0.73% | 0.82% | 0.99% | 0.65% | 0.82% | 0.84% | 1.18% | 0.97% | 1.34% | 1.34% |
Frequently Asked Questions
NATO and SPGI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NATO has higher volatility (8.57%) compared to SPGI (7.62%). In terms of maximum drawdown, NATO dropped -15.99% vs SPGI's -74.67%.
NATO currently has the higher Sharpe Ratio (0.85 vs -0.60), 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.
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