DFEN vs. SHLD
Compare and contrast key facts about Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) and Global X Defense Tech ETF (SHLD).
DFEN and SHLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFEN is a passively managed fund by Direxion that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index (300%). It was launched on May 3, 2017. SHLD is a passively managed fund by Global X that tracks the performance of the Global X Defense Tech Index - Benchmark TR Net. It was launched on Sep 11, 2023. Both DFEN and SHLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DFEN vs. SHLD - Performance Comparison
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DFEN vs. SHLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 5.76% | 156.62% | 27.07% | 48.37% |
SHLD Global X Defense Tech ETF | 13.41% | 74.16% | 35.03% | 12.89% |
Returns By Period
In the year-to-date period, DFEN achieves a 5.76% return, which is significantly lower than SHLD's 13.41% return.
DFEN
- 1D
- 7.00%
- 1M
- -30.69%
- YTD
- 5.76%
- 6M
- 8.27%
- 1Y
- 138.06%
- 3Y*
- 59.94%
- 5Y*
- 32.31%
- 10Y*
- —
SHLD
- 1D
- 3.73%
- 1M
- -4.67%
- YTD
- 13.41%
- 6M
- 5.02%
- 1Y
- 56.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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DFEN vs. SHLD - Expense Ratio Comparison
DFEN has a 0.99% expense ratio, which is higher than SHLD's 0.50% expense ratio.
Return for Risk
DFEN vs. SHLD — Risk / Return Rank
DFEN
SHLD
DFEN vs. SHLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) 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.
| DFEN | SHLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.98 | 2.22 | -0.24 |
Sortino ratioReturn per unit of downside risk | 2.37 | 2.89 | -0.52 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.38 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 3.43 | 3.90 | -0.47 |
Martin ratioReturn relative to average drawdown | 11.60 | 11.34 | +0.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFEN | SHLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 2.22 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 2.62 | -2.40 |
Correlation
The correlation between DFEN and SHLD is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DFEN vs. SHLD - Dividend Comparison
DFEN's dividend yield for the trailing twelve months is around 8.44%, more than SHLD's 0.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 8.44% | 8.89% | 14.12% | 1.13% | 0.46% | 1.89% | 0.48% | 0.50% | 1.07% | 1.50% |
SHLD Global X Defense Tech ETF | 0.48% | 0.55% | 0.53% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DFEN vs. SHLD - Drawdown Comparison
The maximum DFEN drawdown since its inception was -91.36%, which is greater than SHLD's maximum drawdown of -15.06%. Use the drawdown chart below to compare losses from any high point for DFEN and SHLD.
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Drawdown Indicators
| DFEN | SHLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.36% | -15.06% | -76.30% |
Max Drawdown (1Y)Largest decline over 1 year | -41.75% | -15.06% | -26.69% |
Max Drawdown (5Y)Largest decline over 5 years | -56.23% | — | — |
Current DrawdownCurrent decline from peak | -30.69% | -5.82% | -24.87% |
Average DrawdownAverage peak-to-trough decline | -45.53% | -2.58% | -42.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.33% | 5.18% | +7.15% |
Volatility
DFEN vs. SHLD - Volatility Comparison
Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a higher volatility of 24.88% compared to Global X Defense Tech ETF (SHLD) at 9.74%. This indicates that DFEN'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.
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Volatility by Period
| DFEN | SHLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.88% | 9.74% | +15.14% |
Volatility (6M)Calculated over the trailing 6-month period | 48.34% | 18.64% | +29.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.19% | 25.64% | +44.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.08% | 20.81% | +38.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.34% | 20.81% | +50.53% |