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Data as of Nov 4, 2026.

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Thematic ETFs

NATO vs WDGF: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, NATO returned −1.8% to WDGF's −2.9%; 48% of their weight is in the same names.

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Net assets: $88m on Nov 4, 2026 for Themes Transatlantic Defense ETF, and $5.3m on Jun 30, 2026 for WisdomTree Global Defense Fund.

NATO on its own →WDGF on its own →
At a glance
54.5%
NATO in the S&P 500
34.9%
WDGF in the S&P 500
−1.8%
NATO total return, 1 year
−2.9%
WDGF total return, 1 year
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.

WDGF · 1 year to Nov 4, 2026 65% of its weight is outside the S&P 500
65% of its weight is outside the S&P 50035% of WDGF's weight is in S&P 500 companies and 65% is outside the index. Holdings as of Jun 30, 2026.35%65%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 98% · top ten 44% of the fund · 115 holdings as filed for Jun 30, 2026 · Nasdaq-100: 7% in65% of its weight is outside the S&P 50035% of WDGF's weight is in S&P 500 companies and 65% is outside the index. Holdings as of Jun 30, 2026.35%65%inoutside the S&P 500active share 98% · Nasdaq-100: 7% in

35% of WDGF's weight is in S&P 500 companies and 65% is outside the index. Holdings as of Jun 30, 2026.

Pair scorecard

NATO costs 0.10 points a year less; their one-year returns differ by 1.1 points.

Points (pts) are percentage points.

NATO vs WDGF: Holdings Overlap & Returns
MeasureNATOWDGF
Return
Total return, 1 year−1.8%−2.9%
Drawdown
Below its all-time high16.1%, high on Mar 2, 202616.9%, high on Mar 9, 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%0.45%
Net assets, NATO as of Nov 4, 2026 and WDGF as of Jun 30, 2026$88m$5.3m
Holdings
Holdings in common48%

Method

What they share

48%

By the books each fund has filed, NATO and WDGF hold 48% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

0 half 100%

half

48% in common

Positions both hold · largest shared weight first NATO WDGF
RTX Corp 8.53% 5.46%
Lockheed Martin Corp 5.19% 4.93%
General Dynamics Corp 4.36% 5.18%
BAE Systems PLC 4.19% 5.04%
Northrop Grumman Corp 3.90% 4.92%
Rolls-Royce Holdings PLC 7.09% 3.04%
Rheinmetall AG 2.75% 4.27%
TransDigm Group Inc 3.45% 2.75%
Boeing Co 6.81% 2.55%
L3Harris Technologies Inc 2.52% 3.33%
Rocket Lab Corp 1.61% 2.33%
Thales SA 1.16% 3.35%
Only in one fund ↓
Only in NATO
GE AEROSPACE 8.40%
AIRBUS GROUP SE 6.66%
Safran SA 5.75%
Howmet Aerospace Inc 4.18%
Honeywell Aerospace Inc 2.60%
Axon Enterprise Inc 1.70%
Teledyne Technologies Inc 1.51%
LEONARDO-FINMECCANICA SPA 1.20%
Only in WDGF
PALANTIR TECHNOLOGIES INC 4.72%
HANWHA AEROSPACE CO LTD 2.51%
ELBIT SYSTEMS LTD 2.15%
HINDUSTAN AERONAUTICS LTD 2.09%
LEONARDO SPA 2.07%
BHARAT ELECTRONICS LTD 2.05%
SINGAPORE TECHNOLOGIES ENGINEERING LTD 1.10%
WOODWARD INC 1.07%
Check overlap with more funds →

Window by window

Window by window: NATO vs WDGF: Holdings Overlap & Returns
Total returnvs its benchmark
WindowNATOWDGFNATOWDGF
3 months−14.7%−9.9%−13.4 pts vs ACWInot measured
6 months−6.9%−9.6%−9.5 pts vs ACWInot measured
1 year−1.8%−2.9%−16.8 pts vs ACWInot measured
Since launchNot the same days: NATO Oct 2024 · WDGF Sep 2025+47.0%−2.1%+10.9 pts vs ACWInot measured

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Side by side

NATO Themes Transatlantic Defense ETF · Holds 83 stocks in defense, 54% of its weight in S&P 500 companies WDGF WisdomTree Global Defense Fund · Holds 115 stocks in defense, 35% of its weight in S&P 500 companies
Issuer Themes WisdomTree
Theme Defense Defense
In the S&P 500 54.5% 34.9%
Active share vs the S&P 500 97.7% 98.3%
In the Nasdaq-100 5.9% 7.1%
Holdings 83 115
Top ten, share of the fund 61.2% 44.2%
Expense ratio 0.35% 0.45%
Fee for the differing part 0.36% 0.46%
Total return, 1 year −1.8% −2.9%
vs its benchmark −16.8 pts vs ACWI not measured
Below its high −16.1% −16.9%
Net assets, NATO as of Nov 4, 2026 and WDGF as of Jun 30, 2026 $88m $5.3m

As of Nov 4, 2026. Source: ETFIQ.

48% 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.

WDGF

By weight, 35% of WDGF'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 44% of the fund across 115 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned −2.9% with distributions reinvested. It sits 16.9% below its all-time high of Mar 9, 2026.

Questions people ask

Do NATO and WDGF hold the same stocks?
By their latest filings, 48% 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 WDGF?
NATO has 54% of its weight in S&P 500 names and WDGF has 35%, so WDGF differs more from the index.
Which is cheaper, NATO or WDGF?
NATO charges 0.35% a year and WDGF charges 0.45%, so NATO is cheaper. Fees come from each fund's prospectus.
Other comparisons
NATO vs XDEFNATO vs TSSDNATO vs AMMONATO vs ARMYWDGF vs ARMYWDGF vs XDEFWDGF vs AMMOWDGF vs DUTY
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →NATO on its own →WDGF on its own →NATO dividend history →NATO holdings →WDGF dividend history →WDGF holdings →Method →Standards and sources →
Sources and dates
NATO filings on SEC EDGAR ↗
NATO prospectus with the expense ratio (SEC) ↗
Themes page for NATO ↗
WDGF filings on SEC EDGAR ↗
WDGF prospectus with the expense ratio (SEC) ↗
WisdomTree page for WDGF ↗

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

How this is computed

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 WDGF, data as of Nov 4, 2026. https://etfiq.com/compare/themes/nato-vs-wdgf

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