ARMY vs NATO
Tema ETF Trust Tema International Defense ETF against Themes Transatlantic Defense ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
30%
25 shared positions
Fee gap
33 bp
NATO is cheaper
1-year return gap
—
Larger fund
NATO
$90M
Side by side
| ARMY | NATO | |
|---|---|---|
| Fund | Tema ETF Trust Tema International Defense ETF | Themes Transatlantic Defense ETF |
| Issuer | Tema | Themes |
| Category | Aerospace & Defense | Aerospace & Defense |
| Expense ratio | 0.68% | 0.35% |
| Assets | $4.8M | $90M |
| Average daily dollar volume | $144K | $809K |
| Listed | Sep 24, 2025 | Oct 10, 2024 |
| FrenzyCap score | 21 | 53 |
| 1-month return | −3.2% | −5.1% |
| 3-month return | −3.4% | −9.3% |
| Year to date | — | −5.5% |
| 1-year return | — | −8.9% |
| 30-day volatility | 17.0% | 13.6% |
| Worst drawdown, 1 year | −19.1% | −18.9% |
| Trailing 12-month yield | — | 0.48% |
| Holdings | 34 | 85 |
| Top 10 weight | 47.1% | 58.6% |
| Look-through P/E | — | 29.8 |
| Holdings vs fair value | — | +7.2% |
| Holdings above 200-day average | — | 2% |
| Net flow, latest 3 reported months | +$3.6M thru May 2026 | −$6.3M thru Jun 2026 |
| 30-day implied volatility | — | — |
| Holdings as of | as of May 31, 2026SEC filing | as of Jun 30, 2026SEC filing |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
72% of ARMY · 60% of NATO| Holding | ARMY | NATO |
|---|---|---|
| Rolls-Royce Holdings PLC | 3.44% | 7.13% |
| BAE Systems PLC | 4.27% | 3.36% |
| Airbus SE | 3.27% | 5.08% |
| Safran SA | 2.65% | 4.87% |
| RKLB | 7.16% | 2.50% |
| Rheinmetall AG | 2.90% | 2.40% |
| LMT | 1.58% | 5.17% |
| LHX | 1.43% | 2.51% |
| RTX | 1.34% | 7.58% |
| GD | 1.16% | 3.61% |
| BA | 1.12% | 7.25% |
| NOC | 1.05% | 3.35% |
| MTU Aero Engines AG | 2.59% | 1.03% |
| Thales SA | 3.65% | 1.02% |
| Leonardo SpA | 3.94% | 0.98% |
| Saab AB | 4.04% | 0.72% |
| Dassault Aviation SA | 3.98% | 0.27% |
| AVAV | 2.08% | 0.23% |
| Hensoldt AG | 4.37% | 0.22% |
| RENK Group AG | 3.63% | 0.18% |
| QinetiQ Group PLC | 3.94% | 0.12% |
| CSG NV | 2.19% | 0.10% |
| DRS | 1.34% | 0.10% |
| Chemring Group PLC | 4.02% | 0.08% |
| Avio SpA | 1.25% | 0.06% |
Sector mix of the stock holdings
| Sector | ARMY | NATO | Gap |
|---|---|---|---|
| Industrials | 18.3% | 62.2% | −44.0% |
| Materials | 0.0% | 5.2% | −5.2% |
| Technology | 2.2% | 0.7% | +1.5% |
| Health Care | 0.0% | 0.0% | −0.0% |
More: full overlap table · ARMY holdings · NATO holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.