BUG vs. SHLD

Last updated Jul 15, 2026

BUG (Global X Cybersecurity ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - BUG is a Technology Equities fund tracking the Indxx Cybersecurity Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, BUG returned 19.40% vs -0.98% for SHLD. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

BUG vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cybersecurity ETF (BUG) 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, BUG achieves a 37.85% return, which is significantly higher than SHLD's -6.76% return.

BUG

• 1D: 5.93%
• 1M: 23.10%
• 6M: 37.67%
• YTD: 37.85%
• 1Y: 19.40%
• 3Y*: 20.63%
• 5Y*: 8.31%
• 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)

BUG vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BUG Global X Cybersecurity ETF	37.85%	-5.04%	9.59%	16.52%
SHLD Global X Defense Tech ETF	-6.76%	74.16%	35.03%	12.89%

Correlation

The correlation between BUG and SHLD is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.38

The correlation between BUG and SHLD shifts across timeframes, from 0.28 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

BUG vs. SHLD - Sectors Allocation Comparison

Sectors	BUG	SHLD
Technology	100.0%	12.2%
Communication Services	0.0%	-
Consumer Cyclical	0.0%	-
Consumer Defensive	0.0%	-
Healthcare	0.0%	-
Basic Materials	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	87.8%
Real Estate	-	-
Utilities	-	-

Return for Risk

BUG vs. SHLD — Risk / Return Rank

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

BUG

BUG Risk / Return Rank: 20
BUG Sharpe Ratio Rank: 21
BUG Sortino Ratio Rank: 22
BUG Omega Ratio Rank: 22
BUG Calmar Ratio Rank: 17
BUG Martin Ratio Rank: 16

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.

BUG vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cybersecurity ETF (BUG) 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.

	BUG	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.60	-0.04	+0.64
Sortino ratio: Return per unit of downside risk	1.02	0.13	+0.90
Omega ratio: Gain probability vs. loss probability	1.13	1.01	+0.12
Calmar ratio: Return relative to maximum drawdown	0.55	-0.04	+0.59
Martin ratio: Return relative to average drawdown	1.21	-0.10	+1.30

BUG vs. SHLD - Sharpe Ratio Comparison

The current BUG Sharpe Ratio is 0.60, which is higher than the SHLD Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of BUG 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

BUG vs. SHLD - Drawdown Comparison

The maximum BUG drawdown since its inception was -41.66%, which is greater than SHLD's maximum drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for BUG and SHLD.

Drawdown Indicators

	BUG	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-41.66%	-25.40%	-16.26%
Max Drawdown (1Y) Largest decline over 1 year	-35.16%	-25.40%	-9.76%
Max Drawdown (3Y) Largest decline over 3 years	-37.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-41.66%	—	—
Current Drawdown Current decline from peak	0.00%	-22.57%	+22.57%
Average Drawdown Average peak-to-trough decline	-14.29%	-3.85%	-10.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.11%	10.09%	+6.02%

Volatility

BUG vs. SHLD - Volatility Comparison

Global X Cybersecurity ETF (BUG) has a higher volatility of 10.69% compared to Global X Defense Tech ETF (SHLD) at 8.48%. This indicates that BUG's price experiences larger fluctuations and is considered to be riskier than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUG	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.69%	8.48%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	27.91%	19.87%	+8.04%
Volatility (1Y) Calculated over the trailing 1-year period	32.36%	25.18%	+7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.92%	21.56%	+7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.48%	21.56%	+7.92%

BUG vs. SHLD - Expense Ratio Comparison

Both BUG and SHLD have an expense ratio of 0.50%.

Dividends

BUG vs. SHLD - Dividend Comparison

BUG's dividend yield for the trailing twelve months is around 0.03%, less than SHLD's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BUG Global X Cybersecurity ETF	0.03%	0.04%	0.09%	0.10%	1.56%	0.66%	0.46%	0.24%
SHLD Global X Defense Tech ETF	0.70%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUG and SHLD in my portfolio?

BUG and SHLD have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUG or SHLD?

BUG has higher volatility (10.69%) compared to SHLD (8.48%). In terms of maximum drawdown, BUG dropped -41.66% vs SHLD's -25.40%.

Which ETF is better, BUG or SHLD?

On 1-year performance, BUG leads with 19.40% vs -0.98% for SHLD. Both ETFs have the same 0.50% expense ratio. On volatility, SHLD has been the lower-risk option at 8.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUG or SHLD?

Over the 1-year period, BUG has performed better with a 19.40% return vs -0.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUG or SHLD?

BUG and SHLD have the same expense ratio: 0.50% per year.

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

SHLD has the higher dividend yield at 0.70%, compared with 0.03% for BUG.

What is the main difference between BUG and SHLD?

BUG is categorized as Technology Equities, while SHLD is Aerospace & Defense. BUG tracks Indxx Cybersecurity Index, while SHLD tracks Global X Defense Tech Index.

Which has better risk-adjusted returns?

BUG currently has the higher Sharpe Ratio (0.60 vs -0.04), 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.