NATO
Themes Transatlantic Defense ETF
The Themes Transatlantic Defense ETF seeks to provide investors with exposure to companies positioned to benefit from increased defense spending and geopolitical tensions in North America and Europe.
Global
EQUITY
Passive
MANAGEMENT STYLE
1.0 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Themes |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 10, 2024 |
| Assets (mns) | $1 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| AXON ENTERPRISE INC | 5.3 % |
| HOWMET AEROSPACE INC. | 4.7 % |
| EADS NV | 4.6 % |
| L3HARRIS TECHNOLOGIES INC | 4.6 % |
| BAE SYSTEMS PLC | 4.5 % |
| SAFRAN SA | 4.4 % |
| GENERAL DYNAMICS CORP | 4.4 % |
| HONEYWELL INTERNATIONAL INC | 4.4 % |
| BOEING CO | 4.3 % |
| ROLLS-ROYCE GROUP PLC | 4.3 % |
Constituent Breakdown
| Number of holdings | 60 |
| Herfindahl-Hirschman Index | 341 |
| Wgt avg mkt cap (mns) | $63,410 |
| Large cap (>$10bn) | 89.5% |
| Mid cap ($2-10bn) | 8.6% |
| Small cap (<$2bn) | 1.9% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 66.9 % |
 |
BRITAIN | 10.5 % |
 |
FRANCE | 6.8 % |
 |
GERMANY | 5.7 % |
 |
NETHERLANDS | 4.6 % |
 |
ITALY | 1.4 % |
 |
NORWAY | 1.1 % |
 |
SWEDEN | 0.9 % |
 |
CANADA | 0.8 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | -- | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 5.0% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $11,684 |
Technical Indicators
| Recent close | $25.75 |
| 30d moving avg. | $0.00 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 0 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. NATO |
Expenses vs. NATO |
ALTAR Score™ vs. NATO |
|---|---|---|---|---|
| PPA | Invesco Aerospace & Defense ETF | 56.8% | +23 bp | -0.8% |
| ITA | iShares U.S. Aerospace & Defense ETF | 51.6% | +5 bp | -0.5% |
| XAR | SPDR S&P Aerospace & Defense ETF | 51.6% | 0 bp | -1.2% |
| MISL | First Trust Indxx Aerospace & Defense ETF | 47.3% | +25 bp | -0.6% |
| SHLD | Global X Defense Tech ETF | 42.3% | +15 bp | +1.4% |
| ROKT | SPDR S&P Kensho Final Frontiers ETF | 39.0% | +10 bp | -0.8% |
| XLI | Industrial Select Sector SPDR Fund | 21.9% | -26 bp | +1.0% |
| FITE | SPDR S&P Kensho Future Security ETF | 20.8% | +10 bp | -1.0% |
| MADE | iShares U.S. Manufacturing ETF | 20.1% | +5 bp | +2.3% |
| FIDU | Fidelity MSCI Industrial Index ETF | 18.4% | -27 bp | +1.3% |
Risk and Returns: NATO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/15/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
NATO
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
NATO
3.2%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 375 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.6%. NATO's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places NATO in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
NATOSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Global Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 50.8 bp |
| Std. Deviation | 22.4 bp |
| NATO (35 bp) Percentile rank | 25 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| NATO | 35.0 | 0.0 | 35 |
| Peer Avg. | 51.7 | 32.8 | 84.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .