GZIRX vs. SHLD
GZIRX (Goldman Sachs Strategic Income Fund) and SHLD (Global X Defense Tech ETF) are both funds - GZIRX is a Nontraditional Bonds fund managed by Goldman Sachs, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Over the past year, GZIRX returned 6.64% vs -1.74% for SHLD. At a 0.16 correlation, their price movements are largely independent. GZIRX charges 0.78%/yr vs 0.50%/yr for SHLD.
Performance
GZIRX vs. SHLD - Performance Comparison
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Returns By Period
In the year-to-date period, GZIRX achieves a 1.43% return, which is significantly higher than SHLD's -7.00% return.
GZIRX
- 1D
- -0.10%
- 1M
- -0.08%
- 6M
- 1.32%
- YTD
- 1.43%
- 1Y
- 6.64%
- 3Y*
- 7.44%
- 5Y*
- 4.34%
- 10Y*
- 3.57%
SHLD
- 1D
- 0.28%
- 1M
- -5.60%
- 6M
- -22.66%
- YTD
- -7.00%
- 1Y
- -1.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GZIRX vs. SHLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GZIRX Goldman Sachs Strategic Income Fund | 1.43% | 8.49% | 6.13% | 4.74% |
SHLD Global X Defense Tech ETF | -7.00% | 74.16% | 35.03% | 12.89% |
Correlation
The correlation between GZIRX and SHLD is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.16 |
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Return for Risk
GZIRX vs. SHLD — Risk / Return Rank
GZIRX
SHLD
GZIRX vs. SHLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Strategic Income Fund (GZIRX) 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.
| GZIRX | SHLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.40 | ||
| Sortino ratioReturn per unit of downside risk | +3.46 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.01 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | -0.07 | +2.49 |
| Martin ratioReturn relative to average drawdown | 11.28 | -0.17 | +11.44 |
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Drawdowns
GZIRX vs. SHLD - Drawdown Comparison
The maximum GZIRX drawdown since its inception was -13.90%, smaller than the maximum SHLD drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for GZIRX and SHLD.
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Drawdown Indicators
| GZIRX | SHLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.90% | -25.40% | +11.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -25.40% | +22.68% |
Max Drawdown (3Y)Largest decline over 3 years | -3.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.90% | — | — |
Current DrawdownCurrent decline from peak | -0.52% | -22.77% | +22.25% |
Average DrawdownAverage peak-to-trough decline | -1.76% | -3.93% | +2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 10.40% | -9.82% |
Volatility
GZIRX vs. SHLD - Volatility Comparison
The current volatility for Goldman Sachs Strategic Income Fund (GZIRX) is 0.48%, while Global X Defense Tech ETF (SHLD) has a volatility of 8.21%. This indicates that GZIRX 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.
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Volatility by Period
| GZIRX | SHLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 8.21% | -7.73% |
Volatility (6M)Calculated over the trailing 6-month period | 2.36% | 19.78% | -17.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.83% | 25.11% | -22.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.39% | 21.52% | -18.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.71% | 21.52% | -17.81% |
GZIRX vs. SHLD - Expense Ratio Comparison
GZIRX has a 0.78% expense ratio, which is higher than SHLD's 0.50% expense ratio.
Dividends
GZIRX vs. SHLD - Dividend Comparison
GZIRX's dividend yield for the trailing twelve months is around 5.30%, more than SHLD's 0.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GZIRX Goldman Sachs Strategic Income Fund | 5.30% | 4.06% | 6.61% | 3.36% | 2.38% | 2.34% | 3.76% | 3.38% | 2.66% | 1.33% | 2.18% | 4.59% |
SHLD Global X Defense Tech ETF | 0.71% | 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
GZIRX and SHLD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHLD has higher volatility (8.21%) compared to GZIRX (0.48%). In terms of maximum drawdown, GZIRX dropped -13.90% vs SHLD's -25.40%.
GZIRX currently has the higher Sharpe Ratio (2.33 vs -0.07), 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.
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