Visit the full analysis for the latest explanation of Themes Transatlantic Defense Mutual Fund's stock movement.
NATO.L is a London-listed ETF (Themes Transatlantic Defense Mutual Fund) providing exposure to defense companies on both sides of the Atlantic, positioned to benefit from rising NATO-aligned military spending. After weeks of choppy, directionless trading in the 1-2% range, the fund has entered a sharper downdraft, shedding roughly 9% over three sessions with no identifiable news catalyst.