NATO vs CNXT

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

NATO vs CNXT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

NATO

$103M

Winner

CNXT

$103M

Expense Ratio

Winner

NATO

0.35%

CNXT

0.65%

Max Drawdown

Winner

NATO

15.99%

CNXT

70.04%

Sharpe Ratio

NATO

0.62

Winner

CNXT

1.10

5Y Beta

NATO

0.83

Winner

CNXT

0.66

P/E Ratio

NATO

45.97

CNXT

N/A

Forward P/E

NATO

32.89

CNXT

N/A

5Y Dividends CAGR

NATO

N/A

CNXT

-3.05%

Debt to Equity

NATO

137.91%

CNXT

N/A

P/S Ratio

NATO

3.16

CNXT

N/A

P/B Ratio

NATO

6.60

CNXT

N/A

NATO vs CNXT - Historical Returns

Returns include dividend reinvestment.

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

Winner

NATO

+5.28%

CNXT

-2.98%

Winner

NATO

+6.46%

CNXT

-8.07%

NATO

-5.29%

Winner

CNXT

+9.30%

NATO

+15.76%

Winner

CNXT

+46.63%

5Y(CAGR)

NATO

N/A

CNXT

+2.30%

10Y(CAGR)

NATO

N/A

CNXT

+5.27%

Max(CAGR)

Winner

NATO

+30.45%

CNXT

+6.97%

NATO vs CNXT - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

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

NATO vs CNXT Drawdown Comparison

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

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

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

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