MISL vs. SHLD.TO

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust Indxx Aerospace & Defense ETF (MISL) and Global X Defence Tech Index ETF (SHLD.TO).

MISL and SHLD.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MISL is a passively managed fund by First Trust that tracks the performance of the Indxx US Aerospace & Defense Index - Benchmark TR Gross. It was launched on Oct 25, 2022. SHLD.TO is a passively managed fund by Global X that tracks the performance of the Global X Defense Tech Index. It was launched on Apr 21, 2025. Both MISL and SHLD.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MISL vs. SHLD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Aerospace & Defense ETF (MISL) and Global X Defence Tech Index ETF (SHLD.TO). The values are adjusted to include any dividend payments, if applicable.

MISL vs. SHLD.TO - Yearly Performance Comparison

	2026 (YTD)	2025
MISL First Trust Indxx Aerospace & Defense ETF	6.94%	35.41%
SHLD.TO Global X Defence Tech Index ETF	13.32%	28.76%

Different Trading Currencies

MISL is traded in USD, while SHLD.TO is traded in CAD. To make them comparable, the SHLD.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MISL achieves a 6.94% return, which is significantly lower than SHLD.TO's 13.32% return.

MISL

• 1D: 2.28%
• 1M: -9.73%
• YTD: 6.94%
• 6M: 9.60%
• 1Y: 51.50%
• 3Y*: 27.55%
• 5Y*: —
• 10Y*: —

SHLD.TO

• 1D: 3.35%
• 1M: -4.61%
• YTD: 13.32%
• 6M: 4.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MISL vs. SHLD.TO - Expense Ratio Comparison

MISL has a 0.60% expense ratio, which is higher than SHLD.TO's 0.50% expense ratio.

MISL

First Trust Indxx Aerospace & Defense ETF

SHLD.TO

Global X Defence Tech Index ETF

Return for Risk

MISL vs. SHLD.TO — Risk / Return Rank

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

MISL

MISL Risk / Return Rank: 91
MISL Sharpe Ratio Rank: 92
MISL Sortino Ratio Rank: 93
MISL Omega Ratio Rank: 88
MISL Calmar Ratio Rank: 91
MISL Martin Ratio Rank: 90

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.

MISL vs. SHLD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Aerospace & Defense ETF (MISL) and Global X Defence Tech Index ETF (SHLD.TO). 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.

	MISL	SHLD.TO	Difference
Sharpe ratio Return per unit of total volatility	2.15	—	—
Sortino ratio Return per unit of downside risk	2.87	—	—
Omega ratio Gain probability vs. loss probability	1.37	—	—
Calmar ratio Return relative to maximum drawdown	3.34	—	—
Martin ratio Return relative to average drawdown	12.29	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MISL	SHLD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.45	2.02	-0.57

Correlation

The correlation between MISL and SHLD.TO is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MISL vs. SHLD.TO - Dividend Comparison

MISL's dividend yield for the trailing twelve months is around 0.36%, more than SHLD.TO's 0.16% yield.

	TTM	2025	2024	2023	2022
MISL First Trust Indxx Aerospace & Defense ETF	0.36%	0.40%	0.74%	0.63%	0.08%
SHLD.TO Global X Defence Tech Index ETF	0.16%	0.18%	0.00%	0.00%	0.00%

Drawdowns

MISL vs. SHLD.TO - Drawdown Comparison

The maximum MISL drawdown since its inception was -17.91%, which is greater than SHLD.TO's maximum drawdown of -15.18%. Use the drawdown chart below to compare losses from any high point for MISL and SHLD.TO.

Drawdown Indicators

	MISL	SHLD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-17.91%	-14.91%	-3.00%
Max Drawdown (1Y) Largest decline over 1 year	-15.45%	—	—
Current Drawdown Current decline from peak	-10.30%	-8.43%	-1.87%
Average Drawdown Average peak-to-trough decline	-3.17%	-4.49%	+1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	—	—

Volatility

Volatility by Period

	MISL	SHLD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.09%	25.34%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	25.34%	-6.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	25.34%	-6.64%