IZRL vs. SHLD

Last updated Jul 17, 2026

IZRL (ARK Israel Innovative Technology ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - IZRL is a Technology Equities fund tracking the ARK Israeli Innovation Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, IZRL returned 13.43% vs -0.87% for SHLD. At a 0.42 correlation, their price movements are largely independent. IZRL charges 0.49%/yr vs 0.50%/yr for SHLD.

Performance

IZRL vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Israel Innovative Technology ETF (IZRL) 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, IZRL achieves a 1.29% return, which is significantly higher than SHLD's -7.27% return.

IZRL

• 1D: -1.91%
• 1M: 0.93%
• 6M: -3.49%
• YTD: 1.29%
• 1Y: 13.43%
• 3Y*: 16.38%
• 5Y*: 1.25%
• 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)

IZRL vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IZRL ARK Israel Innovative Technology ETF	1.29%	36.94%	15.28%	2.79%
SHLD Global X Defense Tech ETF	-7.27%	74.16%	35.03%	12.89%

Correlation

The correlation between IZRL and SHLD is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.42

IZRL vs. SHLD - Sectors Allocation Comparison

Sectors	IZRL	SHLD
Technology	37.7%	12.2%
Healthcare	15.6%	-
Communication Services	12.5%	-
Financial Services	4.8%	-
Industrials	2.8%	87.8%
Consumer Cyclical	1.9%	-
Consumer Defensive	1.5%	-
Basic Materials	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IZRL vs. SHLD — Risk / Return Rank

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

IZRL

IZRL Risk / Return Rank: 21
IZRL Sharpe Ratio Rank: 21
IZRL Sortino Ratio Rank: 21
IZRL Omega Ratio Rank: 20
IZRL Calmar Ratio Rank: 21
IZRL Martin Ratio Rank: 21

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.

IZRL vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Israel Innovative Technology ETF (IZRL) 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.

	IZRL	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.60	-0.03	+0.63
Sortino ratio: Return per unit of downside risk	0.98	0.13	+0.85
Omega ratio: Gain probability vs. loss probability	1.11	1.01	+0.10
Calmar ratio: Return relative to maximum drawdown	0.74	-0.03	+0.77
Martin ratio: Return relative to average drawdown	1.99	-0.08	+2.07

IZRL vs. SHLD - Sharpe Ratio Comparison

The current IZRL Sharpe Ratio is 0.60, which is higher than the SHLD Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of IZRL 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

IZRL vs. SHLD - Drawdown Comparison

The maximum IZRL drawdown since its inception was -59.98%, which is greater than SHLD's maximum drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for IZRL and SHLD.

Drawdown Indicators

	IZRL	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-59.98%	-25.40%	-34.58%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-25.40%	+7.13%
Max Drawdown (3Y) Largest decline over 3 years	-24.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-52.36%	—	—
Current Drawdown Current decline from peak	-17.69%	-22.99%	+5.30%
Average Drawdown Average peak-to-trough decline	-25.66%	-3.90%	-21.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.78%	10.30%	-3.52%

Volatility

IZRL vs. SHLD - Volatility Comparison

The current volatility for ARK Israel Innovative Technology ETF (IZRL) is 6.80%, while Global X Defense Tech ETF (SHLD) has a volatility of 8.28%. This indicates that IZRL 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

	IZRL	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	8.28%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	18.07%	19.79%	-1.72%
Volatility (1Y) Calculated over the trailing 1-year period	22.53%	25.12%	-2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.55%	21.54%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.90%	21.54%	+3.36%

IZRL vs. SHLD - Expense Ratio Comparison

IZRL has a 0.49% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

IZRL vs. SHLD - Dividend Comparison

IZRL's dividend yield for the trailing twelve months is around 2.56%, more than SHLD's 0.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IZRL ARK Israel Innovative Technology ETF	2.56%	2.59%	0.45%	0.00%	0.00%	0.34%	0.00%	2.15%	3.08%
SHLD Global X Defense Tech ETF	0.71%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IZRL and SHLD in my portfolio?

IZRL and SHLD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IZRL or SHLD?

SHLD has higher volatility (8.28%) compared to IZRL (6.80%). In terms of maximum drawdown, IZRL dropped -59.98% vs SHLD's -25.40%.

Which ETF is better, IZRL or SHLD?

On 1-year performance, IZRL leads with 13.43% vs -0.87% for SHLD. On fees, IZRL is cheaper at 0.49% per year. On volatility, IZRL has been the lower-risk option at 6.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IZRL or SHLD?

Over the 1-year period, IZRL has performed better with a 13.43% return vs -0.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IZRL or SHLD?

IZRL is cheaper with a 0.49% expense ratio, compared with 0.50% for SHLD.

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

IZRL has the higher dividend yield at 2.56%, compared with 0.71% for SHLD.

What is the main difference between IZRL and SHLD?

IZRL is categorized as Technology Equities, while SHLD is Aerospace & Defense. IZRL tracks ARK Israeli Innovation Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: ARK and Global X. Their fees differ too: 0.49% for IZRL and 0.50% for SHLD.

Which has better risk-adjusted returns?

IZRL currently has the higher Sharpe Ratio (0.60 vs -0.03), 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.