ESPO vs. SHLD

Last updated Aug 1, 2026

ESPO (VanEck Video Gaming and eSports ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, ESPO returned -11.33% vs 3.85% for SHLD. Their 0.37 correlation means their historical movements had little consistent relationship. ESPO charges 0.55%/yr vs 0.50%/yr for SHLD.

Performance

ESPO vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Video Gaming and eSports ETF (ESPO) 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, ESPO achieves a -9.09% return, which is significantly lower than SHLD's -2.06% return.

ESPO

• 1D: -3.16%
• 1M: 3.18%
• 6M: -5.98%
• YTD: -9.09%
• 1Y: -11.33%
• 3Y*: 18.46%
• 5Y*: 8.32%
• 10Y*: —
• ALL TIME*: 16.59%

SHLD

• 1D: 0.76%
• 1M: 3.35%
• 6M: -15.67%
• YTD: -2.06%
• 1Y: 3.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 39.34%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ESPO VanEck Video Gaming and eSports ETF	$1.98M	$1.50M	$1.55M
SHLD Global X Defense Tech ETF	$70.01M	$66.37M	$108.83M

ESPO vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ESPO VanEck Video Gaming and eSports ETF	-9.09%	25.79%	47.61%	7.41%
SHLD Global X Defense Tech ETF	-2.06%	74.16%	35.03%	12.89%

Correlation

The correlation between ESPO and SHLD is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.37

ESPO vs. SHLD - Sectors Allocation Comparison

Sectors	ESPO	SHLD
Communication Services	77.7%	-
Consumer Cyclical	14.2%	-
Technology	8.1%	11.6%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	88.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

ESPO vs. SHLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ESPO

ESPO Risk / Return Rank: 5
ESPO Sharpe Ratio Rank: 4
ESPO Sortino Ratio Rank: 4
ESPO Omega Ratio Rank: 4
ESPO Calmar Ratio Rank: 6
ESPO Martin Ratio Rank: 7

SHLD

SHLD Risk / Return Rank: 14
SHLD Sharpe Ratio Rank: 14
SHLD Sortino Ratio Rank: 15
SHLD Omega Ratio Rank: 14
SHLD Calmar Ratio Rank: 13
SHLD Martin Ratio Rank: 13

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ESPO vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Video Gaming and eSports ETF (ESPO) 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.

	ESPO	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.58	0.15	-0.73
Sortino ratio: Return per unit of downside risk	-0.70	0.40	-1.11
Omega ratio: Gain probability vs. loss probability	0.92	1.05	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.39	0.15	-0.54
Martin ratio: Return relative to average drawdown	-0.62	0.35	-0.97

ESPO vs. SHLD - Sharpe Ratio Comparison

The current ESPO Sharpe Ratio is -0.58, which is lower than the SHLD Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of ESPO 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

ESPO vs. SHLD - Drawdown Comparison

The maximum ESPO drawdown since its inception was -50.99%, which is greater than SHLD's maximum drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for ESPO and SHLD.

Drawdown Indicators

	ESPO	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-50.99%	-25.40%	-25.59%
Max Drawdown (1Y) Largest decline over 1 year	-29.43%	-25.40%	-4.03%
Max Drawdown (3Y) Largest decline over 3 years	-29.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.33%	—	—
Current Drawdown Current decline from peak	-22.03%	-18.67%	-3.36%
Average Drawdown Average peak-to-trough decline	-15.23%	-4.15%	-11.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.32%	11.13%	+7.19%

Volatility

ESPO vs. SHLD - Volatility Comparison

The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 6.66%, while Global X Defense Tech ETF (SHLD) has a volatility of 7.73%. This indicates that ESPO experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESPO	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	7.73%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	16.07%	20.16%	-4.09%
Volatility (1Y) Calculated over the trailing 1-year period	19.65%	25.33%	-5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	21.56%	+3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.65%	21.56%	+4.09%

ESPO vs. SHLD - Expense Ratio Comparison

ESPO has a 0.55% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

ESPO vs. SHLD - Dividend Comparison

ESPO's dividend yield for the trailing twelve months is around 1.37%, more than SHLD's 0.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ESPO VanEck Video Gaming and eSports ETF	1.37%	1.24%	0.44%	0.96%	0.91%	3.36%	0.12%	0.22%	0.04%
SHLD Global X Defense Tech ETF	0.67%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ESPO and SHLD in my portfolio?

ESPO 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.

Which is riskier, ESPO or SHLD?

SHLD has higher volatility (7.73%) compared to ESPO (6.66%). In terms of maximum drawdown, ESPO dropped -50.99% vs SHLD's -25.40%.

Which ETF is better, ESPO or SHLD?

On 1-year performance, SHLD leads with 3.85% vs -11.33% for ESPO. On fees, SHLD is cheaper at 0.50% per year. On volatility, ESPO has been the lower-risk option at 6.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ESPO or SHLD?

Over the 1-year period, SHLD has performed better with a 3.85% return vs -11.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ESPO or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.55% for ESPO.

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

ESPO has the higher dividend yield at 1.37%, compared with 0.67% for SHLD.

What is the main difference between ESPO and SHLD?

ESPO is categorized as Gaming, while SHLD is Aerospace & Defense. ESPO tracks MVIS Global Video Gaming and eSports Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.55% for ESPO and 0.50% for SHLD.

Which has better risk-adjusted returns?

SHLD currently has the higher Sharpe Ratio (0.15 vs -0.58), 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.