ICPY vs. SHLD

Last updated Jul 17, 2026

ICPY (Tweedy, Browne International Insider + Value ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - ICPY is a Foreign Large Cap Equities fund actively managed by Tweedy, Browne, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. ICPY is actively managed, while SHLD is passively managed. At a 0.33 correlation, their price movements are largely independent. ICPY charges 0.80%/yr vs 0.50%/yr for SHLD.

Performance

ICPY vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tweedy, Browne International Insider + Value ETF (ICPY) 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, ICPY achieves a 17.30% return, which is significantly higher than SHLD's -7.27% return.

ICPY

• 1D: 0.51%
• 1M: 2.06%
• 6M: 13.08%
• YTD: 17.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -0.61%
• 1M: -5.92%
• 6M: -22.32%
• YTD: -7.27%
• 1Y: -0.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICPY vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025
ICPY Tweedy, Browne International Insider + Value ETF	17.30%	13.79%
SHLD Global X Defense Tech ETF	-7.27%	4.14%

Correlation

The correlation between ICPY and SHLD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.33

Return for Risk

ICPY vs. SHLD — Risk / Return Rank

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

ICPY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SHLD

SHLD Risk / Return Rank: 9
SHLD Sharpe Ratio Rank: 9
SHLD Sortino Ratio Rank: 9
SHLD Omega Ratio Rank: 9
SHLD Calmar Ratio Rank: 9
SHLD Martin Ratio Rank: 9

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.

ICPY vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tweedy, Browne International Insider + Value ETF (ICPY) 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.

	ICPY	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.03	—
Sortino ratio: Return per unit of downside risk	—	0.13	—
Omega ratio: Gain probability vs. loss probability	—	1.01	—
Calmar ratio: Return relative to maximum drawdown	—	-0.03	—
Martin ratio: Return relative to average drawdown	—	-0.08	—

Drawdowns

ICPY vs. SHLD - Drawdown Comparison

The maximum ICPY drawdown since its inception was -8.86%, smaller than the maximum SHLD drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for ICPY and SHLD.

Drawdown Indicators

	ICPY	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-8.86%	-25.40%	+16.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-25.40%	—
Current Drawdown Current decline from peak	0.00%	-22.99%	+22.99%
Average Drawdown Average peak-to-trough decline	-1.53%	-3.90%	+2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.30%	—

Volatility

Volatility by Period

	ICPY	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.77%	25.12%	-10.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.77%	21.54%	-6.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.77%	21.54%	-6.77%

ICPY vs. SHLD - Expense Ratio Comparison

ICPY has a 0.80% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

ICPY vs. SHLD - Dividend Comparison

ICPY's dividend yield for the trailing twelve months is around 3.89%, more than SHLD's 0.71% yield.

Position	TTM	2025	2024	2023
ICPY Tweedy, Browne International Insider + Value ETF	3.89%	4.56%	0.00%	0.00%
SHLD Global X Defense Tech ETF	0.71%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both ICPY and SHLD in my portfolio?

ICPY and SHLD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICPY or SHLD?

On fees, SHLD is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICPY or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.80% for ICPY.

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

ICPY has the higher dividend yield at 3.89%, compared with 0.71% for SHLD.

What is the main difference between ICPY and SHLD?

ICPY is categorized as Foreign Large Cap Equities, while SHLD is Aerospace & Defense. They also come from different issuers: Tweedy, Browne and Global X. Their fees differ too: 0.80% for ICPY and 0.50% for SHLD.