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NATOvsEXIETF Comparison

ETF 1

NATO

Themes Transatlantic Defense ETF

Full NATO fund page

VS

ETF 2

EXI

iShares Global Industrials ETF

This fund is part of

Global Large Cap

+0.61%

Full EXI fund page

Themes Transatlantic Defense ETF (NATO) belongs to the segment. iShares Global Industrials ETF (EXI) is part of the Global Large Cap segment. NATO's top 3 sector exposures are Industrials, Information Technology and Consumer Discretionary. In contrast, EXI's top sector exposures are Industrials, Information Technology NATO is less expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.39% for EXI. NATO is up 5.19% year-to-date (YTD) with +$39M in YTD flows. EXI performs better with 11.23% YTD performance, and +$325M in YTD flows. Run a side-by-side ETF comparison of NATO and EXI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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NATO vs EXI performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 06/12/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NATO EXI	+2.16%-1.16%	-2.94%+4.96%	+5.19%+11.23%	+18.71%+21.34%	n/a+72.45%	n/a+72.35%
Flows	NATO EXI	-+$28M	-$1M+$134M	+$39M+$325M	+$61M+$293M	-+$639M	-+$499M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NATO EXI	+28.33%+23.07%	+20.12%+16.66%	n/a+15.94%	n/a+17.03%
Max drawdown	NATO EXI	-9.67%-6.51%	-14.82%-12.33%	n/a-14.09%	n/a-27.04%
Max drawdown duration	NATO EXI	59d37d	102d65d	n/a148d	n/a611d

Trading data

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	NATO	EXI
Last sale 6/15/2026 at 1:30 PM	$40.37	$195.92
Previous close 06/12/2026	$39.81	$194.53
Consolidated volume 06/12/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of May 29, 2026

1-year trailing difference

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	NATO	EXI
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 6/15/2026 at 1:30 PM

Live

Closed

	NATO	EXI
Last price	$40.37	$195.92
1D performance	+1.41%	+0.71%
AuM	$98.99 M	$1.39 B
E/R	0.35%	0.39%

Characteristics

	NATO	EXI
Management strategy	Passive	Passive
Provider	Themes Management Company	iShares
Benchmark	Solactive Transatlantic Aerospace and Defense Index	S&P Global 1200 Industrials (Sector) Capped Index
N° of holdings	59	197
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	October 10, 2024	September 12, 2006
ESG	No	No

More NATO data on Trackinsight

More EXI data on Trackinsight

Exposure

Countries

NATO

USA

66.07%

United Kingdom

11.1%

Other

22.83%

EXI

USA

51.16%

Japan

13.84%

Other

35.01%

Sectors

NATO

Industrials

90.96%

Other

9.04%

EXI

Industrials

91.92%

Other

8.08%

Diversification

NATO

Total weight of top 15 holdings out of 15

76.57%

EXI

Total weight of top 15 holdings out of 15

30.49%

Top 15 holdings

Data as of April 30, 2026

NATO

BOEING U

8.27%

RAYTHEON TECHNOLOGIES CORPORD

7.99%

GENERAL ELECTRIC

7.53%

ROLLS-ROYCE HOLDINGS

6.08%

AIRBUS SE

5.40%

SAFRAN

5.28%

HONEYWELL INTL

5.13%

LOCKHEED MARTIN

4.97%

HOWMET AEROSPACE INC

4.74%

BAE SYSTEMS

4.09%

NORTHROP GRUMMAN

4.04%

RHEINMETALL

3.56%

GENERAL DYNAMICS

3.40%

TRANSDIGM GROUP

3.14%

L3 HARRIS TECHNOLOGIES

2.95%

EXI

CATERPILLAR

4.16%

GENERAL ELECTRIC

3.06%

US36828A1016

2.94%

RAYTHEON TECHNOLOGIES CORPORD

2.38%

SIEMENS

2.19%

BOEING U

1.81%

SCHNEIDER ELECTRIC SE

1.71%

EATON CORP PLC

1.69%

UNION PACIFIC U

1.61%

ABB

1.56%

UBER TECHNOLOGIES INC

1.54%

SIEMENS ENERGY AG

1.54%

DEERE

1.49%

HITACHI

1.43%

HONEYWELL INTL

1.37%

Frequently asked questions about NATO and EXI

How have the NATO and EXI ETFs performed in 2026?

As of June 12, 2026, NATO is up 5.19% year-to-date (YTD), while EXI has returned 11.23%. That puts EXI better performer ahead so far this year.

Which ETF is attracting more investor money: NATO or EXI?

Year-to-date, the NATO ETF saw +$39M in flows, compared to +$325M for EXI.

Which ETF is more volatile: NATO or EXI?

Over the past year, NATO had a volatility of 20.12%, while EXI experienced 16.66%.

Which ETF is bigger: NATO or EXI?

As of June 12, 2026, NATO holds $98.99 M in assets under management (AUM), while EXI manages $1.39 B.

What sectors do the NATO and EXI ETFs invest in?

NATO leans toward sectors like Industrials. Meanwhile, EXI focuses on Industrials.

What are the top holdings of the NATO ETF and EXI ETF?

NATO top holdings include BOEING U, RAYTHEON TECHNOLOGIES CORPORD and GENERAL ELECTRIC. EXI holds in its top three: CATERPILLAR, GENERAL ELECTRIC and US36828A1016.

Which ETF is more diversified: NATO or EXI?

NATO holds 76 securities with 76.57% of its assets in the top 15. EXI has 213 securities and a top 15 weight of 30.49%.

ETFs Reveal a Growing Gap in U.S. vs. EU Defense Stock Performance

March 5, 2025

NATO

NATOvsEXIETF Comparison

Themes Transatlantic Defense ETF

iShares Global Industrials ETF

NATO vs EXI performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the NATO and EXI ETFs performed in 2026?

As of June 12, 2026, NATO is up 5.19% year-to-date (YTD), while EXI has returned 11.23%. That puts EXI better performer ahead so far this year.

Which ETF is attracting more investor money: NATO or EXI?

Year-to-date, the NATO ETF saw +$39M in flows, compared to +$325M for EXI.

Which ETF is more volatile: NATO or EXI?

Over the past year, NATO had a volatility of 20.12%, while EXI experienced 16.66%.

Which ETF is bigger: NATO or EXI?

As of June 12, 2026, NATO holds $98.99 M in assets under management (AUM), while EXI manages $1.39 B.

What sectors do the NATO and EXI ETFs invest in?

NATO leans toward sectors like Industrials. Meanwhile, EXI focuses on Industrials.

What are the top holdings of the NATO ETF and EXI ETF?

NATO top holdings include BOEING U, RAYTHEON TECHNOLOGIES CORPORD and GENERAL ELECTRIC. EXI holds in its top three: CATERPILLAR, GENERAL ELECTRIC and US36828A1016.

Which ETF is more diversified: NATO or EXI?

NATO holds 76 securities with 76.57% of its assets in the top 15. EXI has 213 securities and a top 15 weight of 30.49%.

ETFs Reveal a Growing Gap in U.S. vs. EU Defense Stock Performance

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