ORBX vs. NATO

Last updated Jun 4, 2026

ORBX (Global X Space Tech ETF) and NATO (Themes Transatlantic Defense ETF) are both Aerospace & Defense funds - ORBX tracks the Global X Space Tech Index while NATO tracks the Solactive Transatlantic Aerospace and Defense Index. Both are passively managed. A 0.52 correlation means they provide meaningful diversification when combined. ORBX charges 0.50%/yr vs 0.35%/yr for NATO.

Performance

ORBX vs. NATO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Space Tech ETF (ORBX) and Themes Transatlantic Defense ETF (NATO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ORBX

• 1D: -7.31%
• 1M: 23.50%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NATO

• 1D: -1.87%
• 1M: 2.05%
• YTD: 1.39%
• 6M: 7.82%
• 1Y: 13.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORBX vs. NATO - Yearly Performance Comparison

	2026 (YTD)
ORBX Global X Space Tech ETF	22.02%
NATO Themes Transatlantic Defense ETF	-6.35%

Correlation

The correlation between ORBX and NATO is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 16, 2026	0.52

Return for Risk

ORBX vs. NATO — Risk / Return Rank

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

NATO

NATO Risk / Return Rank: 19
NATO Sharpe Ratio Rank: 19
NATO Sortino Ratio Rank: 20
NATO Omega Ratio Rank: 19
NATO Calmar Ratio Rank: 20
NATO 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.

ORBX vs. NATO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Space Tech ETF (ORBX) and Themes Transatlantic Defense ETF (NATO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ORBX	NATO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.31	1.34	+2.97

Drawdowns

ORBX vs. NATO - Drawdown Comparison

The maximum ORBX drawdown since its inception was -18.53%, which is greater than NATO's maximum drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for ORBX and NATO.

Drawdown Indicators

	ORBX	NATO	Difference
Max Drawdown Largest peak-to-trough decline	-18.53%	-15.99%	-2.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.99%	—
Current Drawdown Current decline from peak	-18.53%	-12.30%	-6.23%
Average Drawdown Average peak-to-trough decline	-5.01%	-3.71%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.17%	—

Volatility

Volatility by Period

	ORBX	NATO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	79.41%	20.71%	+58.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.41%	22.61%	+56.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.41%	22.61%	+56.80%

ORBX vs. NATO - Expense Ratio Comparison

ORBX has a 0.50% expense ratio, which is higher than NATO's 0.35% expense ratio.

Dividends

ORBX vs. NATO - Dividend Comparison

ORBX has not paid dividends to shareholders, while NATO's dividend yield for the trailing twelve months is around 0.44%.

Position	TTM	2025	2024
NATO Themes Transatlantic Defense ETF	0.44%	0.45%	0.08%
ORBX Global X Space Tech ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ORBX and NATO in my portfolio?

ORBX and NATO have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ORBX or NATO?

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.

Which ETF is cheaper, ORBX or NATO?

NATO is cheaper with a 0.35% expense ratio, compared with 0.50% for ORBX.

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

NATO has the higher dividend yield at 0.44%, compared with 0.00% for ORBX.

What is the main difference between ORBX and NATO?

ORBX tracks Global X Space Tech Index, while NATO tracks Solactive Transatlantic Aerospace and Defense Index. They also come from different issuers: Global X and Themes. Their fees differ too: 0.50% for ORBX and 0.35% for NATO.