IME.AX vs. SHLD

Last updated Jun 5, 2026

IME.AX (ImExHS Limited) is a stock, while SHLD (Global X Defense Tech ETF) is Aerospace & Defense fund tracking the Global X Defense Tech Index. Over the past year, IME.AX returned 2.94% vs 0.20% for SHLD. At a correlation of -0.04, they often move in opposite directions.

Performance

IME.AX vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in ImExHS Limited (IME.AX) and Global X Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IME.AX is traded in AUD, while SHLD is traded in USD. To make them comparable, the SHLD values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IME.AX achieves a -12.50% return, which is significantly lower than SHLD's -7.85% return.

IME.AX

• 1D: 0.00%
• 1M: -7.89%
• YTD: -12.50%
• 6M: 6.06%
• 1Y: 2.94%
• 3Y*: -14.50%
• 5Y*: -27.93%
• 10Y*: —

SHLD

• 1D: -0.76%
• 1M: -4.70%
• YTD: -7.85%
• 6M: -5.11%
• 1Y: 0.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IME.AX vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IME.AX ImExHS Limited	-12.50%	6.67%	-44.03%	8.94%
SHLD Global X Defense Tech ETF	-7.85%	61.51%	48.62%	6.42%

Correlation

The correlation between IME.AX and SHLD is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	-0.04

Return for Risk

IME.AX vs. SHLD — Risk / Return Rank

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

IME.AX

IME.AX Risk / Return Rank: 49
IME.AX Sharpe Ratio Rank: 46
IME.AX Sortino Ratio Rank: 51
IME.AX Omega Ratio Rank: 50
IME.AX Calmar Ratio Rank: 49
IME.AX Martin Ratio Rank: 48

SHLD

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

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.

IME.AX vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ImExHS Limited (IME.AX) 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.

	IME.AX	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.14	0.01	+0.13
Sortino ratio: Return per unit of downside risk	0.87	0.17	+0.69
Omega ratio: Gain probability vs. loss probability	1.11	1.02	+0.09
Calmar ratio: Return relative to maximum drawdown	0.33	0.01	+0.32
Martin ratio: Return relative to average drawdown	0.62	0.02	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IME.AX vs. SHLD - Sharpe Ratio Comparison

The current IME.AX Sharpe Ratio is 0.14, which is higher than the SHLD Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of IME.AX 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.

Sharpe Ratios by Period

	IME.AX	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	0.01	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	1.91	-2.08

Drawdowns

IME.AX vs. SHLD - Drawdown Comparison

The maximum IME.AX drawdown since its inception was -93.68%, which is greater than SHLD's maximum drawdown of -25.21%. Use the drawdown chart below to compare losses from any high point for IME.AX and SHLD.

Drawdown Indicators

	IME.AX	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-93.68%	-25.21%	-68.47%
Max Drawdown (1Y) Largest decline over 1 year	-33.33%	-25.21%	-8.12%
Max Drawdown (3Y) Largest decline over 3 years	-68.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-87.91%	—	—
Current Drawdown Current decline from peak	-89.94%	-23.25%	-66.69%
Average Drawdown Average peak-to-trough decline	-60.74%	-3.71%	-57.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.58%	10.03%	+17.55%

Volatility

IME.AX vs. SHLD - Volatility Comparison

ImExHS Limited (IME.AX) has a higher volatility of 15.57% compared to Global X Defense Tech ETF (SHLD) at 7.28%. This indicates that IME.AX'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

	IME.AX	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.57%	7.28%	+8.29%
Volatility (6M) Calculated over the trailing 6-month period	54.46%	17.83%	+36.63%
Volatility (1Y) Calculated over the trailing 1-year period	85.79%	22.47%	+63.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.47%	19.47%	+54.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.72%	19.47%	+72.25%

Dividends

IME.AX vs. SHLD - Dividend Comparison

IME.AX has not paid dividends to shareholders, while SHLD's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023
IME.AX ImExHS Limited	0.00%	0.00%	0.00%	0.00%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both IME.AX and SHLD in my portfolio?

IME.AX and SHLD have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.