FXU vs. SHLD

Last updated Jun 13, 2026

FXU (First Trust Utilities AlphaDEX Fund) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, FXU returned 17.67% vs 8.26% for SHLD. At a 0.28 correlation, their price movements are largely independent. FXU charges 0.62%/yr vs 0.50%/yr for SHLD.

Performance

FXU vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Utilities AlphaDEX Fund (FXU) 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, FXU achieves a 8.19% return, which is significantly higher than SHLD's -1.50% return.

FXU

• 1D: 0.87%
• 1M: 0.66%
• YTD: 8.19%
• 6M: 8.80%
• 1Y: 17.67%
• 3Y*: 17.64%
• 5Y*: 11.71%
• 10Y*: 9.38%

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)

FXU vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FXU First Trust Utilities AlphaDEX Fund	8.19%	21.86%	22.50%	5.61%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%

Correlation

The correlation between FXU and SHLD is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.28

The correlation between FXU and SHLD shifts across timeframes, from 0.14 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

FXU vs. SHLD - Sectors Allocation Comparison

Sectors	FXU	SHLD
Utilities	92.0%	-
Industrials	4.2%	88.2%
Energy	3.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	11.8%

Return for Risk

FXU vs. SHLD — Risk / Return Rank

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

FXU

FXU Risk / Return Rank: 39
FXU Sharpe Ratio Rank: 40
FXU Sortino Ratio Rank: 37
FXU Omega Ratio Rank: 36
FXU Calmar Ratio Rank: 44
FXU Martin Ratio Rank: 37

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.

FXU vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Utilities AlphaDEX Fund (FXU) 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.

	FXU	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.43	+0.83
Sortino ratio: Return per unit of downside risk	1.75	0.78	+0.97
Omega ratio: Gain probability vs. loss probability	1.21	1.09	+0.13
Calmar ratio: Return relative to maximum drawdown	1.93	0.52	+1.41
Martin ratio: Return relative to average drawdown	5.17	1.28	+3.89

FXU vs. SHLD - Sharpe Ratio Comparison

The current FXU Sharpe Ratio is 1.26, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of FXU 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

FXU vs. SHLD - Drawdown Comparison

The maximum FXU drawdown since its inception was -49.00%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for FXU and SHLD.

Drawdown Indicators

	FXU	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-49.00%	-20.10%	-28.90%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-20.10%	+11.47%
Max Drawdown (3Y) Largest decline over 3 years	-17.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.81%	—	—
Current Drawdown Current decline from peak	-5.57%	-18.20%	+12.63%
Average Drawdown Average peak-to-trough decline	-7.63%	-3.34%	-4.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	8.12%	-4.90%

Volatility

FXU vs. SHLD - Volatility Comparison

The current volatility for First Trust Utilities AlphaDEX Fund (FXU) is 5.01%, while Global X Defense Tech ETF (SHLD) has a volatility of 9.05%. This indicates that FXU 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

	FXU	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	9.05%	-4.04%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	19.94%	-9.61%
Volatility (1Y) Calculated over the trailing 1-year period	13.30%	24.55%	-11.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	21.29%	-4.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.34%	21.29%	-2.95%

FXU vs. SHLD - Expense Ratio Comparison

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

Dividends

FXU vs. SHLD - Dividend Comparison

FXU's dividend yield for the trailing twelve months is around 2.16%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXU First Trust Utilities AlphaDEX Fund	2.16%	2.29%	2.41%	2.52%	2.03%	2.00%	3.97%	2.34%	2.40%	3.81%	2.62%	3.90%
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 FXU and SHLD in my portfolio?

FXU and SHLD have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXU or SHLD?

SHLD has higher volatility (9.05%) compared to FXU (5.01%). In terms of maximum drawdown, FXU dropped -49.00% vs SHLD's -20.10%.

Which ETF is better, FXU or SHLD?

On 1-year performance, FXU leads with 17.67% vs 8.26% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, FXU has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXU or SHLD?

Over the 1-year period, FXU has performed better with a 17.67% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXU or SHLD?

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

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

FXU has the higher dividend yield at 2.16%, compared with 0.56% for SHLD.

What is the main difference between FXU and SHLD?

FXU is categorized as Utilities Equities, while SHLD is Aerospace & Defense. FXU tracks StrataQuant Utilities Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.62% for FXU and 0.50% for SHLD.

Which has better risk-adjusted returns?

FXU currently has the higher Sharpe Ratio (1.26 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.