Data as of .
DUTY vs NATO: which is really different?
DUTY and NATO hold 22% of their weight in the same names.
ETFIQ Off-Index Score: DUTY scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
22% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, DUTY and NATO hold 22% of their money in the same securities at the same weight.
| Holding | DUTY | NATO |
|---|---|---|
| Lockheed Martin Corp | 7.34% | 5.19% |
| General Dynamics Corp | 7.57% | 3.63% |
| Northrop Grumman Corp | 6.62% | 3.37% |
| L3Harris Technologies Inc | 6.85% | 2.52% |
| Rocket Lab Corp | 5.35% | 2.51% |
| Teledyne Technologies Inc | 4.35% | 1.44% |
| Moog Inc | 2.54% | 0.55% |
| Huntington Ingalls Industries | 2.45% | 0.49% |
| Kratos Defense & Security Solu | 2.06% | 0.42% |
| Mercury Systems Inc | 1.33% | 0.29% |
| AeroVironment Inc | 1.04% | 0.23% |
| Karman Holdings Inc | 1.00% | 0.18% |
| Only in DUTY | Only in NATO |
|---|---|
| Palantir Technologies Inc 5.98% | General Electric Co 9.73% |
| Palo Alto Networks Inc 5.21% | RTX Corp 7.61% |
| Fortinet Inc 4.92% | Boeing Co/The 7.28% |
| Crowdstrike Holdings Inc 4.64% | Rolls-Royce Holdings PLC 7.16% |
| Okta Inc 4.62% | Airbus SE 5.10% |
| Akamai Technologies Inc 3.15% | Safran SA 4.89% |
| Check Point Software Technolog 2.89% | Howmet Aerospace Inc 4.85% |
| Leidos Holdings Inc 2.74% | TransDigm Group Inc 3.40% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| DUTY | NATO | DUTY | NATO | DUTY | NATO | |
| 3 months | +5.7% | −6.6% | +3.5 pts | −8.9 pts | +8.2 pts | −4.1 pts |
| 6 months | not published | −3.4% | not published | −21.5 pts | not published | −27.7 pts |
| 1 year | not published | +0.6% | not published | −16.0 pts | not published | −21.2 pts |
| Since launch | +6.9% | +49.9% | −6.3 pts | +15.4 pts | −12.3 pts | +2.3 pts |
| 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 84 stocks in defense, 58% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Aura | Themes |
| Theme | Defense | Defense |
| In the S&P 500 | 61.8% | 58.4% |
| Active share vs the S&P 500 | 98.1% | 97.6% |
| In the Nasdaq-100 | 23.5% | 5.1% |
| Holdings | 50 | 84 |
| Top ten, share of the fund | 59.1% | 58.8% |
| Expense ratio | 0.45% | 0.35% |
| Fee for the differing part | 0.46% | 0.36% |
| Total return, 1 year | +6.9% (since launch on Apr 8, 2026) | +0.6% |
| vs the S&P 500 | −6.3 pts | −16.0 pts |
| vs the Nasdaq-100 | −12.3 pts | −21.2 pts |
| Below its high | −9.2% | −14.4% |
| Net assets | $2m | $95m |
DUTY in plain words
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 launched on Apr 8, 2026 the fund returned +6.9% with distributions reinvested against +13.2% for the S&P 500, so a holder was behind by 6.3 pts. It sits 9.2% below its all-time high of Aug 13, 2026.
NATO in plain words
By weight, 58% 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 59% of the fund across 84 positions, as filed for Jun 30, 2026. Over the year to Sep 18, 2026 the fund returned +0.6% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 16.0 pts. It sits 14.4% 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, which is a meaningful overlap. 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 58%, 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
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DUTY against NATO, data as of Sep 18, 2026. https://etfiq.com/compare/themes/duty-vs-nato Free to use with attribution; the underlying files are at Open data.