NATP.L vs. EMIM.L
NATP.L (HANetf Future of Defence UCITS ETF Acc GBP) and EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - NATP.L is a Aerospace & Defense fund tracking the EQM Future of Defence Index, while EMIM.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (IMI). Both are passively managed. Over the past 3 years, NATP.L returned 36.04%/yr vs 18.33%/yr for EMIM.L. At a 0.32 correlation, their price movements are largely independent. NATP.L charges 0.49%/yr vs 0.18%/yr for EMIM.L.
Performance
NATP.L vs. EMIM.L - Performance Comparison
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Returns By Period
In the year-to-date period, NATP.L achieves a 10.71% return, which is significantly lower than EMIM.L's 18.60% return.
NATP.L
- 1D
- 0.00%
- 1M
- -0.96%
- 6M
- -0.52%
- YTD
- 10.71%
- 1Y
- 14.78%
- 3Y*
- 36.04%
- 5Y*
- —
- 10Y*
- —
EMIM.L
- 1D
- -2.38%
- 1M
- -3.44%
- 6M
- 13.57%
- YTD
- 18.60%
- 1Y
- 36.24%
- 3Y*
- 18.33%
- 5Y*
- 7.82%
- 10Y*
- 9.08%
NATP.L vs. EMIM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NATP.L HANetf Future of Defence UCITS ETF Acc GBP | 10.71% | 43.73% | 34.66% | 15.24% |
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 18.60% | 23.35% | 9.18% | 3.22% |
Correlation
The correlation between NATP.L and EMIM.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2023 | 0.32 |
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Return for Risk
NATP.L vs. EMIM.L — Risk / Return Rank
NATP.L
EMIM.L
NATP.L vs. EMIM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HANetf Future of Defence UCITS ETF Acc GBP (NATP.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.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.
| NATP.L | EMIM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.35 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 3.30 | -2.84 |
| Martin ratioReturn relative to average drawdown | 0.70 | 10.20 | -9.50 |
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Drawdowns
NATP.L vs. EMIM.L - Drawdown Comparison
The maximum NATP.L drawdown since its inception was -32.07%, roughly equal to the maximum EMIM.L drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for NATP.L and EMIM.L.
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Drawdown Indicators
| NATP.L | EMIM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.07% | -31.70% | -0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -32.07% | -10.92% | -21.15% |
Max Drawdown (3Y)Largest decline over 3 years | -32.07% | -15.56% | -16.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.46% | — |
Current DrawdownCurrent decline from peak | -22.08% | -8.94% | -13.14% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -8.67% | +1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.13% | 3.54% | +17.59% |
Volatility
NATP.L vs. EMIM.L - Volatility Comparison
The current volatility for HANetf Future of Defence UCITS ETF Acc GBP (NATP.L) is 7.07%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a volatility of 9.05%. This indicates that NATP.L experiences smaller price fluctuations and is considered to be less risky than EMIM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NATP.L | EMIM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.07% | 9.05% | -1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 15.92% | 17.11% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.67% | 19.18% | +27.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.32% | 16.40% | +13.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.32% | 18.00% | +12.32% |
NATP.L vs. EMIM.L - Expense Ratio Comparison
NATP.L has a 0.49% expense ratio, which is higher than EMIM.L's 0.18% expense ratio.
Dividends
NATP.L vs. EMIM.L - Dividend Comparison
Neither NATP.L nor EMIM.L has paid dividends to shareholders.
Frequently Asked Questions
NATP.L and EMIM.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMIM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMIM.L is cheaper with a 0.18% expense ratio, compared with 0.49% for NATP.L.
NATP.L is categorized as Aerospace & Defense, while EMIM.L is Emerging Markets Equities. NATP.L tracks EQM Future of Defence Index, while EMIM.L tracks MSCI Emerging Markets Investable Market Index (IMI). They also come from different issuers: HANetf and iShares. Their fees differ too: 0.49% for NATP.L and 0.18% for EMIM.L.
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