NATOvsIDEFETF Comparison
ETF 1
NATO
Themes Transatlantic Defense ETF
VS
ETF 2
IDEF
iShares Defense Industrials Active ETF
Themes Transatlantic Defense ETF (NATO) and iShares Defense Industrials Active ETF (IDEF) belong to the same industry segment: . Both ETFs have the same top 3 sector exposures: Industrials, Technology and Non-Energy Materials. NATO is less expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.55% for IDEF. NATO is up 7.75% year-to-date (YTD) with +$39M in YTD flows. IDEF performs worse with 4.48% YTD performance, and +$4.47B in YTD flows. Run a side-by-side ETF comparison of NATO and IDEF 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 IDEF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | NATO IDEF | +2.75%+3.50% | +7.78%-2.66% | +7.75%+4.48% | +13.21%+11.53% | n/an/a | n/an/a |
| Flows | NATO IDEF | -+$113M | -$3M+$822M | +$39M+$4.47B | +$46M+$4.48B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | NATO IDEF | +23.41%+23.95% | +20.54%+21.64% | n/an/a | n/an/a |
| Max drawdown | NATO IDEF | -8.30%-9.59% | -14.82%-15.58% | n/an/a | n/an/a |
| Max drawdown duration | NATO IDEF | 18d54d | 144d144d | n/an/a | n/an/a |
Trading data
NATO | IDEF | |
Last sale 7/24/2026 at 1:30 PM | $40.88 | $32.16 |
| Previous close 07/23/2026 | $40.42 | $32.16 |
| Consolidated volume 07/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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IDEF
is actively managed and doesn’t replicate an indexNATO | IDEF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/24/2026 at 1:30 PM
Live
Closed
NATO | IDEF | |
|---|---|---|
| Last price | $40.88 | $32.16 |
| 1D performance | +1.13% | +0.00% |
| AuM | $101.39 M | $4.21 B |
| E/R | 0.35% | 0.55% |
Characteristics
NATO | IDEF | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Themes Management Company | iShares |
| Benchmark | Solactive Transatlantic Aerospace and Defense Index | - |
| N° of holdings | 77 | 114 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 10, 2024 | May 19, 2025 |
| ESG | No | No |
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Exposure
Countries
NATO
USA
70.01%
United Kingdom
11.16%
Other
18.83%
IDEF
USA
59.6%
United Kingdom
8.89%
Other
31.51%
Sectors
NATO
Industrials
98.87%
Other
1.13%
IDEF
Industrials
84.69%
Technology
8.38%
Other
6.93%
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Diversification
NATO
Total weight of top 15 holdings out of 15
77.23%
IDEF
Total weight of top 15 holdings out of 15
54.39%
Top 15 holdings
Data as of June 30, 2026
NATO
GE Aerospace
9.76%
RTX Corp.
7.66%
The Boeing Co.
7.42%
Rolls-Royce Holdings Plc
7.05%
Honeywell International, Inc.
6.64%
Lockheed Martin Corp.
5.25%
Airbus SE
5.10%
Howmet Aerospace, Inc.
4.93%
Safran SA
4.78%
General Dynamics Corp.
3.61%
TransDigm Group, Inc.
3.43%
Northrop Grumman Corp.
3.36%
BAE Systems Plc
3.35%
L3Harris Technologies, Inc.
2.56%
Rheinmetall AG
2.33%
IDEF
RTX Corp.
8.38%
Lockheed Martin Corp.
6.87%
Rolls-Royce Holdings Plc
5.18%
The Boeing Co.
4.99%
General Dynamics Corp.
4.45%
Fortinet, Inc.
3.36%
Northrop Grumman Corp.
3.32%
BAE Systems Plc
2.73%
GE Aerospace
2.58%
Airbus SE
2.50%
Thales SA
2.33%
Howmet Aerospace, Inc.
2.20%
Elbit Systems Ltd.
2.00%
US84615Q1031
1.80%
BWX Technologies, Inc.
1.71%
Frequently asked questions about NATO and IDEF
How have the NATO and IDEF ETFs performed in 2026?
As of July 24, 2026, NATO is up 7.75% year-to-date (YTD), while IDEF has returned 4.48%. That puts NATO better performer ahead so far this year.
Which ETF is attracting more investor money: NATO or IDEF?
Year-to-date, the NATO ETF saw +$39M in flows, compared to +$4.47B for IDEF.
Which ETF is more volatile: NATO or IDEF?
Over the past year, NATO had a volatility of 20.54%, while IDEF experienced 21.64%.
Which ETF is bigger: NATO or IDEF?
As of July 24, 2026, NATO holds $101.39 M in assets under management (AUM), while IDEF manages $4.21 B.
What sectors do the NATO and IDEF ETFs invest in?
NATO leans toward sectors like Industrials. Meanwhile, IDEF focuses on Industrials and Technology.
What are the top holdings of the NATO ETF and IDEF ETF?
NATO top holdings include GE Aerospace, RTX Corp. and The Boeing Co.. IDEF holds in its top three: RTX Corp., Lockheed Martin Corp. and Rolls-Royce Holdings Plc.
Which ETF is more diversified: NATO or IDEF?
NATO holds 78 securities with 77.23% of its assets in the top 15. IDEF has 117 securities and a top 15 weight of 54.39%.
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Latest news about NATO & IDEF
ETF Comparison: iShares Defense Industrials Active ETF (IDEF) Versus iShares U.S. Aerospace & Defense ETF (ITA)
April 8, 2026
IDEF
ETFs Reveal a Growing Gap in U.S. vs. EU Defense Stock Performance
March 5, 2025
NATO
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