EPU vs. SHLD

Last updated Jun 13, 2026

EPU (iShares MSCI Peru ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, EPU returned 85.51% vs 8.26% for SHLD. At a 0.37 correlation, their price movements are largely independent. EPU charges 0.59%/yr vs 0.50%/yr for SHLD.

Performance

EPU vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Peru ETF (EPU) 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, EPU achieves a 21.02% return, which is significantly higher than SHLD's -1.50% return.

EPU

• 1D: 2.12%
• 1M: 4.37%
• YTD: 21.02%
• 6M: 26.87%
• 1Y: 85.51%
• 3Y*: 46.38%
• 5Y*: 28.15%
• 10Y*: 15.16%

SHLD

• 1D: -2.04%
• 1M: -0.44%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EPU vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EPU iShares MSCI Peru ETF	21.02%	86.87%	21.73%	11.42%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%

Correlation

The correlation between EPU and SHLD is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.37

EPU vs. SHLD - Sectors Allocation Comparison

Sectors	EPU	SHLD
Basic Materials	52.7%	-
Financial Services	28.8%	-
Consumer Cyclical	4.1%	-
Real Estate	3.2%	-
Consumer Defensive	3.0%	-
Utilities	2.8%	-
Industrials	2.8%	88.2%
Communication Services	1.6%	-
Healthcare	1.2%	-
Energy	-	-
Technology	-	11.8%

Return for Risk

EPU vs. SHLD — Risk / Return Rank

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

EPU

EPU Risk / Return Rank: 82
EPU Sharpe Ratio Rank: 91
EPU Sortino Ratio Rank: 81
EPU Omega Ratio Rank: 83
EPU Calmar Ratio Rank: 85
EPU Martin Ratio Rank: 72

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 16
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.

EPU vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Peru ETF (EPU) 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.

	EPU	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	2.73	0.43	+2.31
Sortino ratio: Return per unit of downside risk	3.14	0.78	+2.36
Omega ratio: Gain probability vs. loss probability	1.43	1.09	+0.34
Calmar ratio: Return relative to maximum drawdown	4.07	0.52	+3.55
Martin ratio: Return relative to average drawdown	11.73	1.28	+10.45

EPU vs. SHLD - Sharpe Ratio Comparison

The current EPU Sharpe Ratio is 2.73, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of EPU 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

EPU vs. SHLD - Drawdown Comparison

The maximum EPU drawdown since its inception was -60.62%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for EPU and SHLD.

Drawdown Indicators

	EPU	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-60.62%	-20.10%	-40.52%
Max Drawdown (1Y) Largest decline over 1 year	-20.85%	-20.10%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-20.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.97%	—	—
Current Drawdown Current decline from peak	-6.69%	-18.20%	+11.51%
Average Drawdown Average peak-to-trough decline	-18.81%	-3.34%	-15.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.22%	8.12%	-0.90%

Volatility

EPU vs. SHLD - Volatility Comparison

iShares MSCI Peru ETF (EPU) has a higher volatility of 13.52% compared to Global X Defense Tech ETF (SHLD) at 9.05%. This indicates that EPU'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

	EPU	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.52%	9.05%	+4.47%
Volatility (6M) Calculated over the trailing 6-month period	26.94%	19.94%	+7.00%
Volatility (1Y) Calculated over the trailing 1-year period	31.04%	24.55%	+6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.11%	21.29%	+3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.64%	21.29%	+2.35%

EPU vs. SHLD - Expense Ratio Comparison

EPU has a 0.59% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

EPU vs. SHLD - Dividend Comparison

EPU's dividend yield for the trailing twelve months is around 1.35%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPU iShares MSCI Peru ETF	1.35%	1.63%	5.78%	4.17%	5.56%	3.13%	1.91%	2.67%	1.53%	3.30%	0.85%	1.90%
SHLD Global X Defense Tech ETF	0.56%	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 EPU and SHLD in my portfolio?

EPU and SHLD have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPU or SHLD?

EPU has higher volatility (13.52%) compared to SHLD (9.05%). In terms of maximum drawdown, EPU dropped -60.62% vs SHLD's -20.10%.

Which ETF is better, EPU or SHLD?

On 1-year performance, EPU leads with 85.51% vs 8.26% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPU or SHLD?

Over the 1-year period, EPU has performed better with a 85.51% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPU or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.59% for EPU.

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

EPU has the higher dividend yield at 1.35%, compared with 0.56% for SHLD.

What is the main difference between EPU and SHLD?

EPU is categorized as Mid Cap Blend Equities, while SHLD is Aerospace & Defense. EPU tracks MSCI All Peru Capped Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.59% for EPU and 0.50% for SHLD.

Which has better risk-adjusted returns?

EPU currently has the higher Sharpe Ratio (2.73 vs 0.43), 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.