ISVL vs. SHLD

Last updated Jun 9, 2026

ISVL (iShares International Developed Small Cap Value Factor ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - ISVL is a Small Cap Value Equities fund tracking the FTSE Developed ex US ex Korea Small Cap Focused Value Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, ISVL returned 27.06% vs 8.97% for SHLD. At a 0.46 correlation, their price movements are largely independent. ISVL charges 0.30%/yr vs 0.50%/yr for SHLD.

Performance

ISVL vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Developed Small Cap Value Factor ETF (ISVL) 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, ISVL achieves a 7.99% return, which is significantly higher than SHLD's -2.65% return.

ISVL

• 1D: 0.06%
• 1M: -1.46%
• YTD: 7.99%
• 6M: 11.55%
• 1Y: 27.06%
• 3Y*: 20.90%
• 5Y*: 10.12%
• 10Y*: —

SHLD

• 1D: 0.03%
• 1M: -3.34%
• YTD: -2.65%
• 6M: -0.77%
• 1Y: 8.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISVL vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISVL iShares International Developed Small Cap Value Factor ETF	7.99%	42.84%	4.58%	10.42%
SHLD Global X Defense Tech ETF	-2.65%	74.16%	35.03%	12.89%

Correlation

The correlation between ISVL and SHLD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.46

ISVL vs. SHLD - Sectors Allocation Comparison

Sectors	ISVL	SHLD
Industrials	23.3%	88.2%
Financial Services	20.8%	-
Real Estate	11.1%	-
Consumer Cyclical	10.4%	-
Basic Materials	9.1%	-
Energy	7.3%	-
Consumer Defensive	5.3%	-
Technology	4.7%	11.8%
Healthcare	3.7%	-
Communication Services	3.0%	-
Utilities	1.5%	-

Return for Risk

ISVL vs. SHLD — Risk / Return Rank

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

ISVL

ISVL Risk / Return Rank: 58
ISVL Sharpe Ratio Rank: 62
ISVL Sortino Ratio Rank: 63
ISVL Omega Ratio Rank: 62
ISVL Calmar Ratio Rank: 49
ISVL Martin Ratio Rank: 54

SHLD

SHLD Risk / Return Rank: 15
SHLD Sharpe Ratio Rank: 15
SHLD Sortino Ratio Rank: 16
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.

ISVL vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Developed Small Cap Value Factor ETF (ISVL) 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.

	ISVL	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	1.87	0.37	+1.50
Sortino ratio: Return per unit of downside risk	2.63	0.70	+1.94
Omega ratio: Gain probability vs. loss probability	1.34	1.08	+0.26
Calmar ratio: Return relative to maximum drawdown	2.18	0.45	+1.73
Martin ratio: Return relative to average drawdown	8.52	1.16	+7.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISVL vs. SHLD - Sharpe Ratio Comparison

The current ISVL Sharpe Ratio is 1.87, which is higher than the SHLD Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of ISVL 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

	ISVL	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	0.37	+1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	1.98	-1.29

Drawdowns

ISVL vs. SHLD - Drawdown Comparison

The maximum ISVL drawdown since its inception was -30.48%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for ISVL and SHLD.

Drawdown Indicators

	ISVL	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-30.48%	-20.10%	-10.38%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	-20.10%	+7.62%
Max Drawdown (3Y) Largest decline over 3 years	-12.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	—	—
Current Drawdown Current decline from peak	-2.58%	-19.16%	+16.58%
Average Drawdown Average peak-to-trough decline	-6.65%	-3.26%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	7.78%	-4.59%

Volatility

ISVL vs. SHLD - Volatility Comparison

The current volatility for iShares International Developed Small Cap Value Factor ETF (ISVL) is 4.21%, while Global X Defense Tech ETF (SHLD) has a volatility of 7.64%. This indicates that ISVL 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

	ISVL	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	7.64%	-3.43%
Volatility (6M) Calculated over the trailing 6-month period	12.16%	19.39%	-7.23%
Volatility (1Y) Calculated over the trailing 1-year period	14.57%	24.20%	-9.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	21.14%	-4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	21.14%	-4.36%

ISVL vs. SHLD - Expense Ratio Comparison

ISVL has a 0.30% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

ISVL vs. SHLD - Dividend Comparison

ISVL's dividend yield for the trailing twelve months is around 2.49%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021
ISVL iShares International Developed Small Cap Value Factor ETF	2.49%	2.69%	3.92%	3.82%	3.37%	2.82%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISVL and SHLD in my portfolio?

ISVL and SHLD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISVL or SHLD?

SHLD has higher volatility (7.64%) compared to ISVL (4.21%). In terms of maximum drawdown, ISVL dropped -30.48% vs SHLD's -20.10%.

Which ETF is better, ISVL or SHLD?

On 1-year performance, ISVL leads with 27.06% vs 8.97% for SHLD. On fees, ISVL is cheaper at 0.30% per year. On volatility, ISVL has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISVL or SHLD?

Over the 1-year period, ISVL has performed better with a 27.06% return vs 8.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISVL or SHLD?

ISVL is cheaper with a 0.30% expense ratio, compared with 0.50% for SHLD.

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

ISVL has the higher dividend yield at 2.49%, compared with 0.56% for SHLD.

What is the main difference between ISVL and SHLD?

ISVL is categorized as Small Cap Value Equities, while SHLD is Aerospace & Defense. ISVL tracks FTSE Developed ex US ex Korea Small Cap Focused Value Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.30% for ISVL and 0.50% for SHLD.

Which has better risk-adjusted returns?

ISVL currently has the higher Sharpe Ratio (1.87 vs 0.37), 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.