Data as of .
NATO vs TSSD: which is really different?
NATO and TSSD hold 30% of their weight in the same names.
ETFIQ Off-Index Score: NATO 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
30% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, NATO and TSSD hold 30% of their money in the same securities at the same weight.
| Holding | NATO | TSSD |
|---|---|---|
| RTX Corp | 7.61% | 7.08% |
| Lockheed Martin Corp | 5.19% | 5.51% |
| General Dynamics Corp | 3.63% | 4.91% |
| Northrop Grumman Corp | 3.37% | 4.00% |
| L3Harris Technologies Inc | 2.52% | 4.08% |
| Axon Enterprise Inc | 1.91% | 4.58% |
| Teledyne Technologies Inc | 1.44% | 2.90% |
| Curtiss-Wright Corp | 1.31% | 2.76% |
| BWX Technologies Inc | 0.83% | 1.72% |
| Moog Inc | 0.55% | 1.00% |
| Huntington Ingalls Industries | 0.49% | 0.88% |
| Kratos Defense & Security Solu | 0.42% | 0.94% |
| Only in NATO | Only in TSSD |
|---|---|
| General Electric Co 9.73% | Palo Alto Networks Inc 9.71% |
| Boeing Co/The 7.28% | Crowdstrike Holdings Inc 7.25% |
| Rolls-Royce Holdings PLC 7.16% | Palantir Technologies Inc 6.78% |
| Airbus SE 5.10% | Fortinet Inc 5.76% |
| Safran SA 4.89% | Cloudflare Inc 4.76% |
| Howmet Aerospace Inc 4.85% | Okta Inc 2.12% |
| TransDigm Group Inc 3.40% | VeriSign Inc 2.06% |
| BAE Systems PLC 3.38% | F5 Inc 1.79% |
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 | |||
|---|---|---|---|---|---|---|
| NATO | TSSD | NATO | TSSD | NATO | TSSD | |
| 3 months | −6.6% | +12.0% | −8.9 pts | +9.7 pts | −4.1 pts | +14.5 pts |
| 6 months | −3.4% | +18.0% | −21.5 pts | −0.1 pts | −27.7 pts | −6.3 pts |
| 1 year | +0.6% | not published | −16.0 pts | not published | −21.2 pts | not published |
| Since launch | +49.9% | +20.2% | +15.4 pts | +8.4 pts | +2.3 pts | +3.4 pts |
| NATO Themes Transatlantic Defense ETF Holds 84 stocks in defense, 58% of its weight in S&P 500 companies | TSSD Truth Social American Security & Defense ETF Holds 62 stocks in defense, 72% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Themes | Yorkville |
| Theme | Defense | Defense |
| In the S&P 500 | 58.4% | 71.5% |
| Active share vs the S&P 500 | 97.6% | 97.5% |
| In the Nasdaq-100 | 5.1% | 35.8% |
| Holdings | 84 | 62 |
| Top ten, share of the fund | 58.8% | 60.4% |
| Expense ratio | 0.35% | 0.65% |
| Fee for the differing part | 0.36% | 0.67% |
| Total return, 1 year | +0.6% | +20.2% (since launch on Dec 30, 2025) |
| vs the S&P 500 | −16.0 pts | +8.4 pts |
| vs the Nasdaq-100 | −21.2 pts | +3.4 pts |
| Below its high | −14.4% | −7.1% |
| Net assets | $95m | $7m |
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.
TSSD in plain words
By weight, 72% of TSSD'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 60% of the fund across 62 positions, as filed for Jun 30, 2026. Since it launched on Dec 30, 2025 the fund returned +20.2% with distributions reinvested against +11.7% for the S&P 500, so a holder was ahead by 8.4 pts. It sits 7.1% below its all-time high of Aug 13, 2026.
Questions people ask
- Do NATO and TSSD hold the same stocks?
- By their latest filings, 30% 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, NATO or TSSD?
- NATO has 58% of its weight in S&P 500 names and TSSD has 72%, so NATO differs more from the index.
- Which is cheaper, NATO or TSSD?
- NATO charges 0.35% a year and TSSD charges 0.65%, 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, NATO against TSSD, data as of Sep 18, 2026. https://etfiq.com/compare/themes/nato-vs-tssd Free to use with attribution; the underlying files are at Open data.