BRAZ vs. SHLD

Last updated Jun 4, 2026

BRAZ (Global X Brazil Active ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - BRAZ is a Latin America Equities fund tracking the Solactive Brazil Mid Cap Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, BRAZ returned 32.60% vs 9.71% for SHLD. At a 0.33 correlation, their price movements are largely independent. BRAZ charges 0.75%/yr vs 0.50%/yr for SHLD.

Performance

BRAZ vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Brazil Active ETF (BRAZ) and Global X Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRAZ achieves a 9.24% return, which is significantly higher than SHLD's -2.28% return.

BRAZ

• 1D: -1.64%
• 1M: -10.10%
• YTD: 9.24%
• 6M: 4.93%
• 1Y: 32.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -2.39%
• 1M: -7.01%
• YTD: -2.28%
• 6M: 1.71%
• 1Y: 9.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BRAZ vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BRAZ Global X Brazil Active ETF	9.24%	45.42%	-29.74%	12.21%
SHLD Global X Defense Tech ETF	-2.28%	74.16%	35.03%	12.89%

Correlation

The correlation between BRAZ and SHLD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.33

BRAZ vs. SHLD - Sectors Allocation Comparison

Sectors	BRAZ	SHLD
Financial Services	38.2%	-
Energy	18.3%	-
Basic Materials	13.4%	-
Utilities	10.1%	-
Industrials	6.7%	88.2%
Consumer Cyclical	3.7%	-
Real Estate	2.8%	-
Healthcare	2.3%	-
Consumer Defensive	1.5%	-
Technology	0.9%	11.8%
Communication Services	-	-

Return for Risk

BRAZ vs. SHLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BRAZ

BRAZ Risk / Return Rank: 38
BRAZ Sharpe Ratio Rank: 38
BRAZ Sortino Ratio Rank: 35
BRAZ Omega Ratio Rank: 35
BRAZ Calmar Ratio Rank: 42
BRAZ Martin Ratio Rank: 40

SHLD

SHLD Risk / Return Rank: 15
SHLD Sharpe Ratio Rank: 14
SHLD Sortino Ratio Rank: 15
SHLD Omega Ratio Rank: 14
SHLD Calmar Ratio Rank: 14
SHLD Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BRAZ vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Brazil Active ETF (BRAZ) and Global X Defense Tech ETF (SHLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BRAZ	SHLD	Difference
Sharpe ratio Return per unit of total volatility	1.36	0.41	+0.95
Sortino ratio Return per unit of downside risk	1.85	0.74	+1.11
Omega ratio Gain probability vs. loss probability	1.24	1.08	+0.15
Calmar ratio Return relative to maximum drawdown	2.06	0.49	+1.57
Martin ratio Return relative to average drawdown	6.33	1.30	+5.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRAZ vs. SHLD - Sharpe Ratio Comparison

The current BRAZ Sharpe Ratio is 1.36, which is higher than the SHLD Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of BRAZ and SHLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BRAZ	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	0.41	+0.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	2.00	-1.56

Drawdowns

BRAZ vs. SHLD - Drawdown Comparison

The maximum BRAZ drawdown since its inception was -31.02%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for BRAZ and SHLD.

Drawdown Indicators

	BRAZ	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-31.02%	-20.10%	-10.92%
Max Drawdown (1Y) Largest decline over 1 year	-15.91%	-20.10%	+4.19%
Current Drawdown Current decline from peak	-15.91%	-18.85%	+2.94%
Average Drawdown Average peak-to-trough decline	-11.25%	-3.19%	-8.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.17%	7.51%	-2.34%

Volatility

BRAZ vs. SHLD - Volatility Comparison

The current volatility for Global X Brazil Active ETF (BRAZ) is 6.95%, while Global X Defense Tech ETF (SHLD) has a volatility of 7.81%. This indicates that BRAZ experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRAZ	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.95%	7.81%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	20.04%	19.35%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	24.14%	24.05%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.58%	21.13%	+2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.58%	21.13%	+2.45%

BRAZ vs. SHLD - Expense Ratio Comparison

BRAZ has a 0.75% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

BRAZ vs. SHLD - Dividend Comparison

BRAZ's dividend yield for the trailing twelve months is around 3.12%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023
BRAZ Global X Brazil Active ETF	3.12%	3.41%	4.16%	1.88%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both BRAZ and SHLD in my portfolio?

BRAZ and SHLD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRAZ or SHLD?

SHLD has higher volatility (7.81%) compared to BRAZ (6.95%). In terms of maximum drawdown, BRAZ dropped -31.02% vs SHLD's -20.10%.

Which ETF is better, BRAZ or SHLD?

On 1-year performance, BRAZ leads with 32.60% vs 9.71% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, BRAZ has been the lower-risk option at 6.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRAZ or SHLD?

Over the 1-year period, BRAZ has performed better with a 32.60% return vs 9.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRAZ or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.75% for BRAZ.

Which ETF pays a higher dividend yield, BRAZ or SHLD?

BRAZ has the higher dividend yield at 3.12%, compared with 0.56% for SHLD.

What is the main difference between BRAZ and SHLD?

BRAZ is categorized as Latin America Equities, while SHLD is Aerospace & Defense. BRAZ tracks Solactive Brazil Mid Cap Index, while SHLD tracks Global X Defense Tech Index. Their fees differ too: 0.75% for BRAZ and 0.50% for SHLD.

Which has better risk-adjusted returns?

BRAZ currently has the higher Sharpe Ratio (1.36 vs 0.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.