CYBR.TO vs. SHLD

Last updated Jun 4, 2026

CYBR.TO (Evolve Cyber Security Index Fund - Hedged Units) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - CYBR.TO is a fund fund, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Over the past year, CYBR.TO returned 24.21% vs 11.13% for SHLD. At a 0.38 correlation, their price movements are largely independent.

Performance

CYBR.TO vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) and Global X Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CYBR.TO is traded in CAD, while SHLD is traded in USD. To make them comparable, the SHLD values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CYBR.TO achieves a 35.74% return, which is significantly higher than SHLD's -1.04% return.

CYBR.TO

• 1D: -3.36%
• 1M: 30.12%
• YTD: 35.74%
• 6M: 27.94%
• 1Y: 24.21%
• 3Y*: 25.26%
• 5Y*: 9.43%
• 10Y*: —

SHLD

• 1D: -1.99%
• 1M: -5.15%
• YTD: -1.04%
• 6M: 1.32%
• 1Y: 11.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CYBR.TO vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	35.74%	2.14%	13.45%	15.05%
SHLD Global X Defense Tech ETF	-1.04%	66.17%	46.63%	10.35%

Correlation

The correlation between CYBR.TO and SHLD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.38

CYBR.TO vs. SHLD - Sectors Allocation Comparison

Sectors	CYBR.TO	SHLD
Technology	88.2%	11.8%
Communication Services	7.0%	-
Industrials	4.0%	88.2%
Real Estate	0.8%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

CYBR.TO vs. SHLD — Risk / Return Rank

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

CYBR.TO

CYBR.TO Risk / Return Rank: 22
CYBR.TO Sharpe Ratio Rank: 24
CYBR.TO Sortino Ratio Rank: 23
CYBR.TO Omega Ratio Rank: 25
CYBR.TO Calmar Ratio Rank: 20
CYBR.TO Martin Ratio Rank: 18

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.

CYBR.TO vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) 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.

	CYBR.TO	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.86	0.48	+0.38
Sortino ratio: Return per unit of downside risk	1.30	0.84	+0.46
Omega ratio: Gain probability vs. loss probability	1.17	1.10	+0.07
Calmar ratio: Return relative to maximum drawdown	0.87	0.53	+0.33
Martin ratio: Return relative to average drawdown	1.84	1.39	+0.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CYBR.TO vs. SHLD - Sharpe Ratio Comparison

The current CYBR.TO Sharpe Ratio is 0.86, which is higher than the SHLD Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of CYBR.TO 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

	CYBR.TO	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.48	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	2.16	-1.58

Drawdowns

CYBR.TO vs. SHLD - Drawdown Comparison

The maximum CYBR.TO drawdown since its inception was -44.40%, which is greater than SHLD's maximum drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for CYBR.TO and SHLD.

Drawdown Indicators

	CYBR.TO	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-20.96%	-23.44%
Max Drawdown (1Y) Largest decline over 1 year	-28.10%	-20.96%	-7.14%
Max Drawdown (3Y) Largest decline over 3 years	-28.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.40%	—	—
Current Drawdown Current decline from peak	-4.12%	-18.84%	+14.72%
Average Drawdown Average peak-to-trough decline	-12.93%	-3.13%	-9.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.19%	8.00%	+5.19%

Volatility

CYBR.TO vs. SHLD - Volatility Comparison

Evolve Cyber Security Index Fund - Hedged Units (CYBR.TO) has a higher volatility of 12.24% compared to Global X Defense Tech ETF (SHLD) at 7.73%. This indicates that CYBR.TO'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

	CYBR.TO	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.24%	7.73%	+4.51%
Volatility (6M) Calculated over the trailing 6-month period	24.55%	18.81%	+5.74%
Volatility (1Y) Calculated over the trailing 1-year period	28.30%	23.43%	+4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.60%	20.16%	+7.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.69%	20.16%	+6.53%

Dividends

CYBR.TO vs. SHLD - Dividend Comparison

CYBR.TO's dividend yield for the trailing twelve months is around 0.17%, less than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CYBR.TO Evolve Cyber Security Index Fund - Hedged Units	0.17%	0.23%	0.24%	0.27%	0.39%	0.26%	0.38%	0.64%	0.79%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CYBR.TO and SHLD in my portfolio?

CYBR.TO and SHLD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.