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Data as of Nov 4, 2026.

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Thematic ETFs

NATO vs TSSD: Holdings Overlap & Returns

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NATO and TSSD hold 30% of their weight in the same names.

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Net assets: $88m on Nov 4, 2026 for Themes Transatlantic Defense ETF, and $7.0m on Jun 30, 2026 for Truth Social American Security & Defense ETF.

NATO on its own →TSSD on its own →
At a glance
54.5%
NATO in the S&P 500
71.4%
TSSD in the S&P 500
−1.8%
NATO total return, 1 year
+17.1%
TSSD total return, since launch, Dec 30, 2025
NATO · 1 year to Nov 4, 2026 46% of its weight is outside the S&P 500
46% of its weight is outside the S&P 50055% of NATO's weight is in S&P 500 companies and 46% is outside the index. Holdings as of Nov 4, 2026.55%46%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 61% of the fund · 83 holdings as published by its issuer for Nov 4, 2026 · Nasdaq-100: 6% in46% of its weight is outside the S&P 50055% of NATO's weight is in S&P 500 companies and 46% is outside the index. Holdings as of Nov 4, 2026.55%46%in the S&P 500outsideactive share 98% · Nasdaq-100: 6% in

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

TSSD · 6 months to Nov 4, 2026 29% of its weight is outside the S&P 500
29% of its weight is outside the S&P 50071% of TSSD's weight is in S&P 500 companies and 29% is outside the index. Holdings as of Jun 30, 2026.71%29%of its weight in S&P 500 companiesoutside the S&P 500active share 98% · top ten 60% of the fund · 62 holdings as filed for Jun 30, 2026 · Nasdaq-100: 34% in29% of its weight is outside the S&P 50071% of TSSD's weight is in S&P 500 companies and 29% is outside the index. Holdings as of Jun 30, 2026.71%29%in the S&P 500outsideactive share 98% · Nasdaq-100: 34% in

71% of TSSD's weight is in S&P 500 companies and 29% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

NATO costs 0.30 points a year less.

Points (pts) are percentage points.

NATO vs TSSD: Holdings Overlap & Returns
MeasureNATOTSSD
Return
Total return, 1 year−1.8%not published
Drawdown
Below its all-time high16.1%, high on Mar 2, 20269.4%, high on Aug 13, 2026
Against its benchmark
What it tracksDefenseDefense
Its benchmark, total return, 1 year+15.0%
Against its benchmark, 1 yearbehind by 16.8 pts
Cost and size
Expense ratio0.35%0.65%
Net assets, NATO as of Nov 4, 2026 and TSSD as of Jun 30, 2026$88m$7.0m
Holdings
Holdings in common30%
ETFIQ S&P 500 Difference Score · NATO scores higher How much of its weight does it not share with the S&P 500?
IQ Themes Score86.4NATO84.2TSSD

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

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

30%

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

0 half 100%

half

30% in common

Positions both hold · largest shared weight first NATO TSSD
RTX Corp 8.53% 7.08%
Lockheed Martin Corp 5.19% 5.50%
General Dynamics Corp 4.36% 4.91%
Northrop Grumman Corp 3.90% 4.00%
L3Harris Technologies Inc 2.52% 4.08%
Axon Enterprise Inc 1.70% 4.57%
Teledyne Technologies Inc 1.51% 2.90%
Curtiss-Wright Corp 0.87% 2.76%
Huntington Ingalls Industries Inc 0.62% 0.88%
BWX Technologies Inc 0.58% 1.72%
Moog Inc 0.47% 1.00%
Kratos Defense & Security Solutions Inc 0.33% 0.94%
Only in one fund ↓
Only in NATO
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%
TransDigm Group Inc 3.45%
Only in TSSD
Palo Alto Networks Inc 9.70%
Crowdstrike Holdings Inc 7.24%
Palantir Technologies Inc 6.78%
Fortinet Inc 5.75%
Cloudflare Inc 4.75%
Okta Inc 2.12%
VeriSign Inc 2.06%
F5 Inc 1.79%
Check overlap with more funds →

Window by window

Window by window: NATO vs TSSD: Holdings Overlap & Returns
Total returnvs its benchmark
WindowNATOTSSDNATOTSSD
3 months−14.7%−4.9%−13.4 pts vs ACWInot measured
6 months−6.9%+19.4%−9.5 pts vs ACWInot measured
1 year−1.8%–−16.8 pts vs ACWI–
Since launchNot the same days: NATO Oct 2024 · TSSD Dec 2025+47.0%+17.1%+10.9 pts vs ACWInot measured

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

Side by side

NATO Themes Transatlantic Defense ETF · Holds 83 stocks in defense, 54% of its weight in S&P 500 companies TSSD Truth Social American Security & Defense ETF · Holds 62 stocks in defense, 71% of its weight in S&P 500 companies
Issuer Themes Yorkville
Theme Defense Defense
In the S&P 500 54.5% 71.4%
Active share vs the S&P 500 97.7% 97.6%
In the Nasdaq-100 5.9% 34.0%
Holdings 83 62
Top ten, share of the fund 61.2% 60.4%
Expense ratio 0.35% 0.65%
Fee for the differing part 0.36% 0.67%
Total return, 1 year −1.8% +17.1% (since launch, Dec 30, 2025)
vs its benchmark −16.8 pts vs ACWI not measured
Below its high −16.1% −9.4%
Net assets, NATO as of Nov 4, 2026 and TSSD as of Jun 30, 2026 $88m $7.0m

As of Nov 4, 2026. Source: ETFIQ.

30% of the two portfolios are the same securities at the same weight.

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About each fund
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.

TSSD

By weight, 71% 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 first traded on Dec 30, 2025 the fund returned +17.1% with distributions reinvested. It sits 9.4% 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. 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 54% of its weight in S&P 500 names and TSSD has 71%, 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
NATO vs WDGFNATO vs XDEFNATO vs ARMYNATO vs FOWFTSSD vs AVTSSD vs WDEFTSSD vs WARTSSD vs WDAF
Where to next
NATO on its own →TSSD on its own →NATO dividend history →NATO holdings →TSSD dividend history →TSSD holdings →Method →Standards and sources →
Sources and dates
NATO filings on SEC EDGAR ↗
NATO prospectus with the expense ratio (SEC) ↗
Themes page for NATO ↗
TSSD filings on SEC EDGAR ↗
TSSD prospectus with the expense ratio (SEC) ↗
Yorkville website ↗

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

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