COLO vs. SHLD

Last updated Jun 5, 2026

COLO (Global X MSCI Colombia ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - COLO is a Latin America Equities fund tracking the MSCI All Colombia Select 25/50 Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, COLO returned 48.83% vs 11.52% for SHLD. At a 0.31 correlation, their price movements are largely independent. COLO charges 0.62%/yr vs 0.50%/yr for SHLD.

Performance

COLO vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Colombia ETF (COLO) 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, COLO achieves a 14.76% return, which is significantly higher than SHLD's -0.74% return.

COLO

• 1D: 0.54%
• 1M: 7.66%
• YTD: 14.76%
• 6M: 13.54%
• 1Y: 48.83%
• 3Y*: 34.10%
• 5Y*: 14.46%
• 10Y*: 6.22%

SHLD

• 1D: 1.58%
• 1M: -4.77%
• YTD: -0.74%
• 6M: 2.22%
• 1Y: 11.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COLO vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COLO Global X MSCI Colombia ETF	14.76%	68.88%	4.68%	18.26%
SHLD Global X Defense Tech ETF	-0.74%	74.16%	35.03%	12.89%

Correlation

The correlation between COLO and SHLD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.31

COLO vs. SHLD - Sectors Allocation Comparison

Sectors	COLO	SHLD
Financial Services	39.3%	-
Basic Materials	18.4%	-
Utilities	17.7%	-
Energy	17.3%	-
Communication Services	3.4%	-
Industrials	2.4%	88.2%
Consumer Cyclical	1.5%	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	11.8%

Return for Risk

COLO vs. SHLD — Risk / Return Rank

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

COLO

COLO Risk / Return Rank: 61
COLO Sharpe Ratio Rank: 68
COLO Sortino Ratio Rank: 67
COLO Omega Ratio Rank: 65
COLO Calmar Ratio Rank: 57
COLO Martin Ratio Rank: 46

SHLD

SHLD Risk / Return Rank: 17
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 18
SHLD Omega Ratio Rank: 17
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

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.

COLO vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Colombia ETF (COLO) 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.

	COLO	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	2.21	0.48	+1.73
Sortino ratio: Return per unit of downside risk	3.03	0.84	+2.19
Omega ratio: Gain probability vs. loss probability	1.39	1.10	+0.29
Calmar ratio: Return relative to maximum drawdown	2.76	0.58	+2.18
Martin ratio: Return relative to average drawdown	7.53	1.52	+6.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COLO vs. SHLD - Sharpe Ratio Comparison

The current COLO Sharpe Ratio is 2.21, which is higher than the SHLD Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of COLO 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

	COLO	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	0.48	+1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	2.03	-1.82

Drawdowns

COLO vs. SHLD - Drawdown Comparison

The maximum COLO drawdown since its inception was -78.91%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for COLO and SHLD.

Drawdown Indicators

	COLO	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-78.91%	-20.10%	-58.81%
Max Drawdown (1Y) Largest decline over 1 year	-17.79%	-20.10%	+2.31%
Max Drawdown (3Y) Largest decline over 3 years	-18.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.75%	—	—
Current Drawdown Current decline from peak	-22.10%	-17.57%	-4.53%
Average Drawdown Average peak-to-trough decline	-40.31%	-3.21%	-37.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	7.60%	-1.10%

Volatility

COLO vs. SHLD - Volatility Comparison

Global X MSCI Colombia ETF (COLO) has a higher volatility of 10.65% compared to Global X Defense Tech ETF (SHLD) at 8.02%. This indicates that COLO'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

	COLO	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.65%	8.02%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	19.42%	19.39%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	22.20%	24.08%	-1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.19%	21.14%	+2.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	21.14%	+4.29%

COLO vs. SHLD - Expense Ratio Comparison

COLO has a 0.62% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

COLO vs. SHLD - Dividend Comparison

COLO's dividend yield for the trailing twelve months is around 6.54%, more than SHLD's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COLO Global X MSCI Colombia ETF	6.54%	7.51%	6.08%	6.99%	12.55%	2.32%	3.23%	3.04%	3.03%	1.83%	1.48%	1.58%
SHLD Global X Defense Tech ETF	0.55%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both COLO and SHLD in my portfolio?

COLO and SHLD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COLO or SHLD?

COLO has higher volatility (10.65%) compared to SHLD (8.02%). In terms of maximum drawdown, COLO dropped -78.91% vs SHLD's -20.10%.

Which ETF is better, COLO or SHLD?

On 1-year performance, COLO leads with 48.83% vs 11.52% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 8.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COLO or SHLD?

Over the 1-year period, COLO has performed better with a 48.83% return vs 11.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COLO or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.62% for COLO.

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

COLO has the higher dividend yield at 6.54%, compared with 0.55% for SHLD.

What is the main difference between COLO and SHLD?

COLO is categorized as Latin America Equities, while SHLD is Aerospace & Defense. COLO tracks MSCI All Colombia Select 25/50 Index, while SHLD tracks Global X Defense Tech Index. Their fees differ too: 0.62% for COLO and 0.50% for SHLD.

Which has better risk-adjusted returns?

COLO currently has the higher Sharpe Ratio (2.21 vs 0.48), 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.