BTRN vs. SHLD

Last updated Jul 15, 2026

BTRN (Global X Bitcoin Trend Strategy ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - BTRN is a Cryptocurrency fund tracking the CoinDesk Bitcoin Trend Indicator Futures Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, BTRN returned -25.61% vs -0.98% for SHLD. At a 0.19 correlation, their price movements are largely independent. BTRN charges 0.95%/yr vs 0.50%/yr for SHLD.

Performance

BTRN vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Bitcoin Trend Strategy ETF (BTRN) 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, BTRN achieves a -9.67% return, which is significantly lower than SHLD's -6.76% return.

BTRN

• 1D: 0.99%
• 1M: -0.56%
• 6M: -11.31%
• YTD: -9.67%
• 1Y: -25.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -0.41%
• 1M: -5.34%
• 6M: -20.90%
• YTD: -6.76%
• 1Y: -0.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTRN vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	-9.67%	4.89%	3.25%
SHLD Global X Defense Tech ETF	-6.76%	74.16%	15.42%

Correlation

The correlation between BTRN and SHLD is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.19

Return for Risk

BTRN vs. SHLD — Risk / Return Rank

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

BTRN

BTRN Risk / Return Rank: 0
BTRN Sharpe Ratio Rank: 0
BTRN Sortino Ratio Rank: 1
BTRN Omega Ratio Rank: 0
BTRN Calmar Ratio Rank: 0
BTRN Martin Ratio Rank: 1

SHLD

SHLD Risk / Return Rank: 9
SHLD Sharpe Ratio Rank: 9
SHLD Sortino Ratio Rank: 9
SHLD Omega Ratio Rank: 9
SHLD Calmar Ratio Rank: 9
SHLD Martin Ratio Rank: 9

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.

BTRN vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Bitcoin Trend Strategy ETF (BTRN) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BTRN	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	-1.47	-0.04	-1.43
Sortino ratio: Return per unit of downside risk	-2.01	0.13	-2.14
Omega ratio: Gain probability vs. loss probability	0.72	1.01	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.04	-0.95
Martin ratio: Return relative to average drawdown	-1.56	-0.10	-1.46

BTRN vs. SHLD - Sharpe Ratio Comparison

The current BTRN Sharpe Ratio is -1.47, which is lower than the SHLD Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of BTRN 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.

Drawdowns

BTRN vs. SHLD - Drawdown Comparison

The maximum BTRN drawdown since its inception was -36.97%, which is greater than SHLD's maximum drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for BTRN and SHLD.

Drawdown Indicators

	BTRN	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-36.97%	-25.40%	-11.57%
Max Drawdown (1Y) Largest decline over 1 year	-26.04%	-25.40%	-0.64%
Current Drawdown Current decline from peak	-25.61%	-22.57%	-3.04%
Average Drawdown Average peak-to-trough decline	-14.92%	-3.85%	-11.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.90%	10.09%	+6.81%

Volatility

BTRN vs. SHLD - Volatility Comparison

The current volatility for Global X Bitcoin Trend Strategy ETF (BTRN) is 2.03%, while Global X Defense Tech ETF (SHLD) has a volatility of 8.48%. This indicates that BTRN 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

	BTRN	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	8.48%	-6.45%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	19.87%	-9.57%
Volatility (1Y) Calculated over the trailing 1-year period	17.60%	25.18%	-7.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.26%	21.56%	+8.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.26%	21.56%	+8.70%

BTRN vs. SHLD - Expense Ratio Comparison

BTRN has a 0.95% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

BTRN vs. SHLD - Dividend Comparison

BTRN's dividend yield for the trailing twelve months is around 31.08%, more than SHLD's 0.70% yield.

Position	TTM	2025	2024	2023
BTRN Global X Bitcoin Trend Strategy ETF	31.08%	27.76%	2.56%	0.00%
SHLD Global X Defense Tech ETF	0.70%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both BTRN and SHLD in my portfolio?

BTRN and SHLD have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTRN or SHLD?

SHLD has higher volatility (8.48%) compared to BTRN (2.03%). In terms of maximum drawdown, BTRN dropped -36.97% vs SHLD's -25.40%.

Which ETF is better, BTRN or SHLD?

On 1-year performance, SHLD leads with -0.98% vs -25.61% for BTRN. On fees, SHLD is cheaper at 0.50% per year. On volatility, BTRN has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTRN or SHLD?

Over the 1-year period, SHLD has performed better with a -0.98% return vs -25.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTRN or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.95% for BTRN.

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

BTRN has the higher dividend yield at 31.08%, compared with 0.70% for SHLD.

What is the main difference between BTRN and SHLD?

BTRN is categorized as Cryptocurrency, while SHLD is Aerospace & Defense. BTRN tracks CoinDesk Bitcoin Trend Indicator Futures Index, while SHLD tracks Global X Defense Tech Index. Their fees differ too: 0.95% for BTRN and 0.50% for SHLD.

Which has better risk-adjusted returns?

SHLD currently has the higher Sharpe Ratio (-0.04 vs -1.47), 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.