Do DUTY and NATO hold the same stocks?

By their latest filings, 22% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, DUTY or NATO?

DUTY has 62% of its weight in S&P 500 names and NATO has 54%, so DUTY differs more from the index.

Which is cheaper, DUTY or NATO?

DUTY charges 0.45% a year and NATO charges 0.35%, so NATO is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

DUTY vs NATO: Holdings Overlap & Returns

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DUTY and NATO hold 22% of their weight in the same names.

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Net assets: $2.1m on Jun 30, 2026 for U.S. Defense ETF, and $88m on Nov 4, 2026 for Themes Transatlantic Defense ETF.

DUTY on its own →NATO on its own →

At a glance

61.7%

DUTY in the S&P 500

54.5%

NATO in the S&P 500

+7.2%

DUTY total return, since launch, Apr 8, 2026

−1.8%

NATO total return, 1 year

DUTY · 6 months to Nov 4, 2026 38% of its weight is outside the S&P 500

62% of DUTY's weight is in S&P 500 companies and 38% is outside the index. Holdings as of Jun 30, 2026.

NATO · 1 year to Nov 4, 2026 46% of its weight is outside the S&P 500

55% of NATO's weight is in S&P 500 companies and 46% is outside the index. Holdings as of Nov 4, 2026.

Pair scorecard

NATO costs 0.10 points a year less.

Points (pts) are percentage points.

DUTY vs NATO: Holdings Overlap & Returns
Measure	DUTY	NATO
Return
Measure	DUTY	NATO
Total return, 1 year	not published	−1.8%
Drawdown
Measure	DUTY	NATO
Below its all-time high	9.0%, high on Aug 13, 2026	16.1%, high on Mar 2, 2026
Against its benchmark
Measure	DUTY	NATO
What it tracks	Defense	Defense
Its benchmark, total return, 1 year		+15.0%
Against its benchmark, 1 year		behind by 16.8 pts
Cost and size
Measure	DUTY	NATO
Expense ratio	0.45%	0.35%
Net assets, DUTY as of Jun 30, 2026 and NATO as of Nov 4, 2026	$2.1m	$88m
Holdings
Measure	DUTY	NATO
Holdings in common	22%

ETFIQ S&P 500 Difference Score · DUTY scores higher How much of its weight does it not share with the S&P 500?

IQ Themes Score90.4DUTY86.4NATO

How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

DUTY 90.4

NATO 86.4

0.4, the lowest in this set 99.6, the highest

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →

Method

What they share

22%

By the books each fund has filed, DUTY and NATO hold 22% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

50%

0 half 100%

half

22% in common

Positions both hold · largest shared weight first DUTY NATO

Lockheed Martin Corp 7.32% 5.19%

General Dynamics Corp 7.55% 4.36%

Northrop Grumman Corp 6.60% 3.90%

L3Harris Technologies Inc 6.83% 2.52%

Rocket Lab Corp 5.34% 1.61%

Teledyne Technologies Inc 4.34% 1.51%

Huntington Ingalls Industries 2.45% 0.62%

Moog Inc 2.53% 0.47%

Kratos Defense & Security Solu 2.06% 0.33%

AeroVironment Inc 1.03% 0.23%

Karman Holdings Inc 1.00% 0.22%

Mercury Systems Inc 1.33% 0.20%

Only in one fund ↓

Only in DUTY

Palantir Technologies Inc 5.96%

Palo Alto Networks Inc 5.20%

Fortinet Inc 4.91%

Crowdstrike Holdings Inc 4.63%

Okta Inc 4.61%

Akamai Technologies Inc 3.14%

Check Point Software Technolog 2.88%

Leidos Holdings Inc 2.73%

Only in NATO

RTX Corp 8.53%

GE AEROSPACE 8.40%

Rolls-Royce Holdings PLC 7.09%

Boeing Co 6.81%

AIRBUS GROUP SE 6.66%

Safran SA 5.75%

BAE Systems PLC 4.19%

Howmet Aerospace Inc 4.18%

Check overlap with more funds →

Window by window

Window by window: DUTY vs NATO: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	DUTY	NATO	DUTY	NATO
3 months	−2.5%	−14.7%	not measured	−13.4 pts vs ACWI
6 months	+13.4%	−6.9%	not measured	−9.5 pts vs ACWI
1 year	–	−1.8%	–	−16.8 pts vs ACWI
Since launchNot the same days: DUTY Apr 2026 · NATO Oct 2024	+7.2%	+47.0%	not measured	+10.9 pts vs ACWI

– means no data for this window. Open this comparison in the app →

Side by side

DUTY U.S. Defense ETF · Holds 50 stocks in defense, 62% of its weight in S&P 500 companies NATO Themes Transatlantic Defense ETF · Holds 83 stocks in defense, 54% of its weight in S&P 500 companies

Issuer Aura Themes

Theme Defense Defense

In the S&P 500 61.7% 54.5%

Active share vs the S&P 500 98.1% 97.7%

In the Nasdaq-100 26.0% 5.9%

Holdings 50 83

Top ten, share of the fund 59.0% 61.2%

Expense ratio 0.45% 0.35%

Fee for the differing part 0.46% 0.36%

Total return, 1 year +7.2% (since launch, Apr 8, 2026) −1.8%

vs its benchmark not measured −16.8 pts vs ACWI

Below its high −9.0% −16.1%

Net assets, DUTY as of Jun 30, 2026 and NATO as of Nov 4, 2026 $2.1m $88m

As of Nov 4, 2026. Source: ETFIQ.

22% of the two portfolios are the same securities at the same weight.

Alert

About each fund

DUTY

By weight, 62% of DUTY's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 59% of the fund across 50 positions, as filed for Jun 30, 2026. Since it first traded on Apr 8, 2026 the fund returned +7.2% with distributions reinvested. It sits 9.0% below its all-time high of Aug 13, 2026.

NATO

By weight, 54% of NATO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 61% of the fund across 83 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned −1.8% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Net Total Return Index, so a holder was behind by 16.8 pts. It sits 16.1% below its all-time high of Mar 2, 2026.

Questions people ask

Do DUTY and NATO hold the same stocks?: By their latest filings, 22% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, DUTY or NATO?: DUTY has 62% of its weight in S&P 500 names and NATO has 54%, so DUTY differs more from the index.
Which is cheaper, DUTY or NATO?: DUTY charges 0.45% a year and NATO charges 0.35%, so NATO is cheaper. Fees come from each fund's prospectus.

Other comparisons

DUTY vs WDEF DUTY vs KDEF DUTY vs GCAD DUTY vs WAR NATO vs XAR NATO vs SHLD NATO vs PPA NATO vs XDEF

Where to next

DUTY on its own →NATO on its own →DUTY holdings →NATO dividend history →NATO holdings →Method →Standards and sources →

Sources and dates

DUTY filings on SEC EDGAR ↗

DUTY prospectus with the expense ratio (SEC) ↗

Aura website ↗

NATO filings on SEC EDGAR ↗

NATO prospectus with the expense ratio (SEC) ↗

Themes page for NATO ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, DUTY against NATO, data as of Nov 4, 2026. https://etfiq.com/compare/themes/duty-vs-nato

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.