CNXT vs NATO

Comparison between VANECK CHINEXT INNOVATORS ETF (CNXT, ETF) and THEMES TRANSATLANTIC DEFENSE ETF (NATO, ETF).

CNXT vs NATO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CNXT(ETF)	NATO(ETF)
Net Assets	$103M	$103M
Expense Ratio	0.65%	0.35%
Max Drawdown	70.04%	15.99%
Sharpe Ratio	1.10	0.62
5Y Beta	0.66	0.83
P/E Ratio	N/A	45.97
Forward P/E	N/A	32.89
5Y Dividends CAGR	-3.05%	N/A
Debt to Equity	N/A	137.91%
P/S Ratio	N/A	3.16
P/B Ratio	N/A	6.60

Net Assets

Winner

CNXT

$103M

NATO

$103M

Expense Ratio

CNXT

0.65%

Winner

NATO

0.35%

Max Drawdown

CNXT

70.04%

Winner

NATO

15.99%

Sharpe Ratio

Winner

CNXT

1.10

NATO

0.62

5Y Beta

Winner

CNXT

0.66

NATO

0.83

P/E Ratio

CNXT

N/A

NATO

45.97

Forward P/E

CNXT

N/A

NATO

32.89

5Y Dividends CAGR

CNXT

-3.05%

NATO

N/A

Debt to Equity

CNXT

N/A

NATO

137.91%

P/S Ratio

CNXT

N/A

NATO

3.16

P/B Ratio

CNXT

N/A

NATO

6.60

CNXT vs NATO - Historical Returns

Returns include dividend reinvestment.

Period	CNXT	NATO
1 month	-2.98%	+5.28%
3 months	-8.07%	+6.46%
6 months	+9.30%	-5.29%
1 year	+46.63%	+15.76%
5 years(CAGR)	+2.30%	N/A
10 years(CAGR)	+5.27%	N/A
Max(CAGR)	+6.97%	+30.45%

CNXT

-2.98%

Winner

NATO

+5.28%

CNXT

-8.07%

Winner

NATO

+6.46%

Winner

CNXT

+9.30%

NATO

-5.29%

Winner

CNXT

+46.63%

NATO

+15.76%

5Y(CAGR)

CNXT

+2.30%

NATO

N/A

10Y(CAGR)

CNXT

+5.27%

NATO

N/A

Max(CAGR)

CNXT

+6.97%

Winner

NATO

+30.45%

CNXT vs NATO - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	CNXT	NATO
2026	+13.45%	+6.03%
2025	+65.65%	+51.85%
2024	+15.31%	+0.35%
2023	-22.08%	N/A
2022	-35.60%	N/A
2021	+4.80%	N/A
2020	+57.62%	N/A
2019	+43.64%	N/A
2018	-40.59%	N/A
2017	+18.43%	N/A
2016	-20.53%	N/A
2015	+42.40%	N/A
2014	+15.98%	N/A

CNXT vs NATO Drawdown Comparison

The maximum drawdown for CNXT was -68.98%, occurring on Jan 3, 2019. Recovery took 2770 trading sessions.

The maximum drawdown for NATO was -15.99%, occurring on Mar 30, 2026. This drawdown has not yet recovered.

The current CNXT drawdown is -18.62%. The current NATO drawdown is -6.41%.

Rank	CNXT	NATO
#1	-68.98% Jun 12, 2015 - Jun 18, 2026	-15.99% Mar 2, 2026 - Mar 30, 2026
#2	-24.23% Jun 30, 2026 - Jul 29, 2026	-13.28% Mar 19, 2025 - Apr 29, 2025
#3	-10.47% Apr 6, 2015 - Apr 22, 2015	-10.85% Oct 8, 2025 - Jan 5, 2026
#4	-10.28% Dec 4, 2014 - Jan 13, 2015	-7.21% Nov 11, 2024 - Feb 18, 2025
#5	-6.76% May 26, 2015 - Jun 2, 2015	-7.16% Jan 16, 2026 - Feb 20, 2026
#6	-6.62% Jan 22, 2015 - Feb 4, 2015	-4.72% Oct 18, 2024 - Nov 6, 2024
#7	-6.36% Jun 2, 2015 - Jun 12, 2015	-4.03% Mar 5, 2025 - Mar 17, 2025
#8	-6.29% Feb 4, 2015 - Feb 13, 2015	-3.96% Feb 18, 2025 - Feb 28, 2025
#9	-5.50% Oct 9, 2014 - Dec 3, 2014	-3.23% Jul 23, 2025 - Sep 11, 2025
#10	-4.05% Jun 22, 2026 - Jun 30, 2026	-1.91% Jun 5, 2025 - Jun 26, 2025
#11	-3.62% Sep 12, 2014 - Sep 30, 2014	-1.84% Jun 30, 2025 - Jul 9, 2025
#12	-3.52% Mar 5, 2015 - Mar 11, 2015	-1.79% May 19, 2025 - May 27, 2025
#13	-3.41% May 4, 2015 - May 8, 2015	-1.55% Jul 18, 2025 - Jul 23, 2025
#14	-3.06% Apr 24, 2015 - May 4, 2015	-1.26% Mar 3, 2025 - Mar 5, 2025
#15	-2.96% Mar 25, 2015 - Mar 30, 2015	-1.26% Feb 20, 2026 - Mar 2, 2026