NATO vs XHS
Comparison between THEMES TRANSATLANTIC DEFENSE ETF (NATO, ETF) and STATE STREET(R) SPDR(R) S&P(R) HEALTH CARE SERVICES ETF (XHS, ETF).
NATO vs XHS - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
NATO
$102M
Winner
XHS
$102M
Expense Ratio
NATO
0.35%
XHS
0.35%
Max Drawdown
Winner
NATO
15.99%
XHS
39.36%
Sharpe Ratio
NATO
0.71
Winner
XHS
1.15
5Y Beta
NATO
0.84
Winner
XHS
0.59
P/E Ratio
Winner
NATO
54.73
XHS
152.60
Forward P/E
NATO
30.08
Winner
XHS
18.48
5Y Dividends CAGR
NATO
N/A
XHS
5.34%
5Y EPS CAGR
NATO
N/A
XHS
7.43%
Debt to Equity
NATO
152.72%
Winner
XHS
-111.73%
P/S Ratio
NATO
3.18
Winner
XHS
0.58
P/B Ratio
NATO
6.86
Winner
XHS
2.61
NATO vs XHS - Holdings Comparison
NATO and XHS have 1 common holdings. Overlap is 0.00%
NATO's top 25 holdings weight is 88.73%. XHS's top 25 holdings weight is 56.58%.
| Rank | NATO | XHS |
|---|---|---|
| #1 | GE AEROSPACE (GE) - 8.45% | HUMANA INC (HUM) - 3.38% |
| #2 | BOEING CO (BA) - 7.47% | CLOVER HEALTH INVESTMENTS CORP ORDINARY SHARES CLASS A (CLOV) - 3.02% |
| #3 | RTX CORP (RTX) - 7.14% | CENTENE CORP (CNC) - 3.01% |
| #4 | HONEYWELL INTERNATIONAL INC (HON) - 6.76% | GUARDANT HEALTH INC (GH) - 2.66% |
| #5 | ROLLS-ROYCE HOLDINGS PLC (n/a) - 6.58% | BRIGHTSPRING HEALTH SERVICES INC (BTSG) - 2.59% |
| #6 | LOCKHEED MARTIN CORP (LMT) - 5.34% | PROGYNY INC (PGNY) - 2.58% |
| #7 | AIRBUS SE (n/a) - 4.71% | ELEVANCE HEALTH INC (ELV) - 2.42% |
| #8 | HOWMET AEROSPACE INC (HWM) - 4.62% | UNITEDHEALTH GROUP INC (UNH) - 2.39% |
| #9 | SAFRAN SA (n/a) - 4.39% | ASTRANA HEALTH INC (ASTH) - 2.38% |
| #10 | NORTHROP GRUMMAN CORP (NOC) - 3.62% | AMN HEALTHCARE SERVICES INC (AMN) - 2.33% |
| #11 | BAE SYSTEMS PLC (n/a) - 3.62% | MOLINA HEALTHCARE INC (MOH) - 2.21% |
| #12 | GENERAL DYNAMICS CORP (GD) - 3.53% | DAVITA INC (DVA) - 2.19% |
| #13 | TRANSDIGM GROUP INC (TDG) - 3.25% | CVS HEALTH CORP (CVS) - 2.13% |
| #14 | ROCKET LAB CORP (RKLB) - 3.11% | NEOGENOMICS INC (NEO) - 2.13% |
| #15 | RHEINMETALL AG (n/a) - 3.01% | HEALTHEQUITY INC (HQY) - 2.02% |
| #16 | L3HARRIS TECHNOLOGIES INC (LHX) - 2.72% | CONCENTRA GROUP HOLDINGS PARENT INC (CON) - 2.01% |
| #17 | AXON ENTERPRISE INC (AXON) - 1.71% | PEDIATRIX MEDICAL GROUP INC (MD) - 1.98% |
| #18 | TELEDYNE TECHNOLOGIES INC (TDY) - 1.36% | CORVEL CORP (CRVL) - 1.96% |
| #19 | CURTISS-WRIGHT CORP (CW) - 1.28% | PACS GROUP INC (PACS) - 1.93% |
| #20 | FTAI AVIATION LTD (FTAI) - 1.18% | LIFESTANCE HEALTH GROUP INC ORDINARY SHARES (LFST) - 1.92% |
| #21 | LEONARDO SPA AZ NOM POST RAGGRUPPAMENTO (n/a) - 1.14% | HIMS & HERS HEALTH INC ORDINARY SHARES CLASS A (HIMS) - 1.91% |
| #22 | THALES (n/a) - 1.08% | THE CIGNA GROUP (CI) - 1.88% |
| #23 | n/a (n/a) - 0.96% | CHEMED CORP (CHE) - 1.87% |
| #24 | MTU AERO ENGINES AG (n/a) - 0.89% | SURGERY PARTNERS INC (SGRY) - 1.84% |
| #25 | BWX TECHNOLOGIES INC (BWXT) - 0.81% | ACADIA HEALTHCARE CO INC (ACHC) - 1.84% |
| Total Holdings | 92 | 58 |
NATO vs XHS - Historical Returns
Returns include dividend reinvestment.
1M
NATO
+1.76%
Winner
XHS
+7.49%
3M
NATO
-3.93%
Winner
XHS
+18.52%
6M
NATO
+7.28%
Winner
XHS
+11.55%
1Y
NATO
+18.02%
Winner
XHS
+25.55%
5Y(CAGR)
NATO
N/A
XHS
+1.44%
10Y(CAGR)
NATO
N/A
XHS
+8.37%
Max(CAGR)
Winner
NATO
+31.40%
XHS
+12.34%
NATO vs XHS - Annual Returns (2011 - 2026)
Returns include dividend reinvestment.
| Year | NATO | XHS |
|---|---|---|
| 2026 | +1.99% | +13.80% |
| 2025 | +51.85% | +18.32% |
| 2024 | +0.35% | +0.55% |
| 2023 | N/A | +6.10% |
| 2022 | N/A | -20.48% |
| 2021 | N/A | +9.75% |
| 2020 | N/A | +34.25% |
| 2019 | N/A | +19.16% |
| 2018 | N/A | +0.70% |
| 2017 | N/A | +16.30% |
| 2016 | N/A | -7.08% |
| 2015 | N/A | +3.75% |
| 2014 | N/A | +25.76% |
| 2013 | N/A | +35.32% |
| 2012 | N/A | +22.06% |
| 2011 | N/A | +14.26% |
NATO vs XHS 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 XHS was -39.32%, occurring on Mar 23, 2020. Recovery took 137 trading sessions.
The current NATO drawdown is -9.97%.
| Rank | NATO | XHS |
|---|---|---|
| #1 | -15.99% Mar 2, 2026 - Mar 30, 2026 | -39.32% Feb 19, 2020 - Sep 2, 2020 |
| #2 | -13.28% Mar 19, 2025 - Apr 29, 2025 | -32.62% Jun 28, 2021 - May 27, 2026 |
| #3 | -10.85% Oct 8, 2025 - Jan 5, 2026 | -27.38% Aug 5, 2015 - Jan 22, 2018 |
| #4 | -7.21% Nov 11, 2024 - Feb 18, 2025 | -22.07% Sep 28, 2018 - Jan 15, 2020 |
| #5 | -7.16% Jan 16, 2026 - Feb 20, 2026 | -12.83% Apr 3, 2012 - Jul 18, 2012 |
| #6 | -4.72% Oct 18, 2024 - Nov 6, 2024 | -10.97% Feb 9, 2021 - Apr 23, 2021 |
| #7 | -4.03% Mar 5, 2025 - Mar 17, 2025 | -10.30% Jan 29, 2018 - May 18, 2018 |
| #8 | -3.96% Feb 18, 2025 - Feb 28, 2025 | -10.25% Sep 2, 2020 - Oct 5, 2020 |
| #9 | -3.23% Jul 23, 2025 - Sep 11, 2025 | -9.26% Oct 28, 2011 - Jan 11, 2012 |
| #10 | -1.91% Jun 5, 2025 - Jun 26, 2025 | -7.34% Sep 30, 2011 - Oct 11, 2011 |
| #11 | -1.84% Jun 30, 2025 - Jul 9, 2025 | -6.25% Jan 22, 2020 - Feb 11, 2020 |
| #12 | -1.79% May 19, 2025 - May 27, 2025 | -6.22% Jul 18, 2012 - Aug 27, 2012 |
| #13 | -1.55% Jul 18, 2025 - Jul 23, 2025 | -6.02% Sep 11, 2014 - Oct 28, 2014 |
| #14 | -1.26% Mar 3, 2025 - Mar 5, 2025 | -6.00% Apr 24, 2015 - May 22, 2015 |
| #15 | -1.26% Feb 20, 2026 - Mar 2, 2026 | -5.71% Oct 23, 2020 - Nov 3, 2020 |
Correlation
Correlation between NATO and XHS is 0.67 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.67
-101
Dividend Comparison (2011 - 2026)
NATO vs XHS dividend yield comparison.
| Year | NATO | XHS |
|---|---|---|
| 2026 | 0.00% | 0.03% |
| 2025 | 0.45% | 0.27% |
| 2024 | 0.08% | 0.38% |
| 2023 | 0.00% | 0.23% |
| 2022 | 0.00% | 0.19% |
| 2021 | 0.00% | 0.20% |
| 2020 | 0.00% | 0.23% |
| 2019 | 0.00% | 2.37% |
| 2018 | 0.00% | 0.34% |
| 2017 | 0.00% | 0.22% |
| 2016 | 0.00% | 0.28% |
| 2015 | 0.00% | 0.93% |
| 2014 | 0.00% | 1.17% |
| 2013 | 0.00% | 0.46% |
| 2012 | 0.00% | 4.12% |
| 2011 | 0.00% | 0.02% |
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