# Future of Defence UCITS ETF Accum USD (NATP)

**Page:** https://fundology.uk/fund/natp · ISIN IE000OJ5TQP4

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, NATP (Future of Defence UCITS ETF Accum USD, ISIN IE000OJ5TQP4) closed at £14.75 on the London Stock Exchange. Its ongoing charge is 0.49% a year (about £49 on £10,000). Over the three years to 13/11/2026 its price changed by +118.4%, or +97.4% after UK CPIH inflation.

## Summary

Future of Defence UCITS ETF Accum USD is an exchange-traded fund (ETF) from HANetf, launched in 2023. It tracks the EQM Future of Defence Index - Benchmark TR Net. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.49% a year — about £49 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£14.75** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | NATP |
| ISIN | IE000OJ5TQP4 |
| Also listed as | NATO (London Stock Exchange, US dollars), ASWC (Xetra, euros) |
| Category | Single sectors |
| Type | ETF |
| Provider | HANetf |
| Tracks | EQM Future of Defence Index - Benchmark TR Net |
| Income | Accumulating |
| Ongoing charge | 0.49% a year (£49 per £10,000) |
| Fund size | £2.3bn |
| Launched | 2023 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/04/2023 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +3.82% | +0.15% | income reinvested |
| 3 years | +118.44% | +97.36% | price only |

Returns: as reported (delayed data) and worked out from recorded daily closes. Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Future of Defence UCITS ETF Accum USD in pounds (price, with income reinvested in the fund): 2024 +35.6%, 2025 +42.9%; 2026 to 13/11/2026 +6.7%. Returns of Future of Defence UCITS ETF Accum USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +6.2%; to 30/09/2025: +74.1%; to 30/09/2024: +33.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2024 | +35.6% | +30.9% | Price |
| 2025 | +42.9% | +38.0% | Price |
| 2026 to 13/11/2026 | +6.7% | +3.3% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 27.37% | -15.62% |
| 3 years | 20.75% | -15.62% |

## Largest fall

Volatility of Future of Defence UCITS ETF Accum USD in pounds, annualised from weekly returns to 13/11/2026: 27.4% over 1 year, 20.7% over 3 years. Largest fall in the price of Future of Defence UCITS ETF Accum USD since July 2023, in pounds: −15.6% from 12/08/2026 to 06/11/2026. The lowest 12-month return of Future of Defence UCITS ETF Accum USD in pounds (price, with income reinvested in the fund) since July 2023 was +1.1% (12 months to 06/11/2026); the highest was +68.6% (12 months to 26/09/2025). On 13/11/2026 the price of Future of Defence UCITS ETF Accum USD was 13.2% below its highest weekly close since July 2023 (12/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Future of Defence UCITS ETF Accum USD 0.49% a year. Compared on 14/11/2026, 51 of the 164 other single-sector funds charge more, 1 the same and 112 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.49%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ongoing charge of NATP?**

The ongoing charge of NATP is 0.49% a year — about £49 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Future of Defence UCITS ETF Accum USD 0.49% a year. Compared on 14/11/2026, 51 of the 164 other single-sector funds charge more, 1 the same and 112 less (share classes counted once).

**What does NATP track?**

NATP tracks the EQM Future of Defence Index - Benchmark TR Net.

**Is NATP accumulating or distributing?**

NATP is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of NATP?**

The ISIN of NATP is IE000OJ5TQP4. An ISIN identifies one exact share class of a fund; NATP is its ticker on the London Stock Exchange. The same share class is also listed as NATO (London Stock Exchange, US dollars) and ASWC (Xetra, euros).

**What were NATP’s returns in each of the last five years?**

Calendar-year returns of NATP in pounds (price, with income reinvested in the fund): 2024 +35.6%, 2025 +42.9%; 2026 to 13/11/2026 +6.7%. Past performance is not a guide to future returns.

**How has NATP done after inflation?**

Over the three years to 13/11/2026 NATP’s price changed by +118.4%, or +97.4% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.