NSI vs. SHLD

Last updated Aug 4, 2026

NSI (National Security Emerging Markets Index ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - NSI is a Emerging Markets Equities fund tracking the Alerian National Security Emerging Markets Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, NSI returned 30.04% vs 6.46% for SHLD. Their 0.35 correlation means their historical movements had little consistent relationship. NSI charges 1.00%/yr vs 0.50%/yr for SHLD.

Performance

NSI vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in National Security Emerging Markets Index ETF (NSI) 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, NSI achieves a 12.80% return, which is significantly higher than SHLD's -0.33% return.

NSI

• 1D: 0.71%
• 1M: 0.76%
• 6M: 4.35%
• YTD: 12.80%
• 1Y: 30.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.07%

SHLD

• 1D: 1.77%
• 1M: 0.64%
• 6M: -13.25%
• YTD: -0.33%
• 1Y: 6.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 40.06%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NSI National Security Emerging Markets Index ETF	$95.71K	$65.80K	$59.17K
SHLD Global X Defense Tech ETF	$69.07M	$65.06M	$107.90M

NSI vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NSI National Security Emerging Markets Index ETF	12.80%	35.94%	-1.21%	4.94%
SHLD Global X Defense Tech ETF	-0.33%	74.16%	35.03%	2.85%

Correlation

The correlation between NSI and SHLD is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.35

NSI vs. SHLD - Sectors Allocation Comparison

Sectors	NSI	SHLD
Technology	32.1%	11.6%
Financial Services	19.6%	-
Consumer Cyclical	9.4%	-
Communication Services	7.6%	-
Basic Materials	6.4%	-
Industrials	4.1%	88.4%
Healthcare	2.6%	-
Consumer Defensive	1.9%	-
Energy	1.2%	-
Utilities	1.0%	-
Real Estate	0.6%	-

Return for Risk

NSI vs. SHLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NSI

NSI Risk / Return Rank: 56
NSI Sharpe Ratio Rank: 55
NSI Sortino Ratio Rank: 54
NSI Omega Ratio Rank: 54
NSI Calmar Ratio Rank: 59
NSI Martin Ratio Rank: 56

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 17
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NSI vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for National Security Emerging Markets Index ETF (NSI) 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.

	NSI	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	1.42	0.26	+1.16
Sortino ratio: Return per unit of downside risk	1.99	0.55	+1.44
Omega ratio: Gain probability vs. loss probability	1.26	1.06	+0.20
Calmar ratio: Return relative to maximum drawdown	2.21	0.26	+1.95
Martin ratio: Return relative to average drawdown	7.00	0.58	+6.43

NSI vs. SHLD - Sharpe Ratio Comparison

The current NSI Sharpe Ratio is 1.42, which is higher than the SHLD Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of NSI 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

NSI vs. SHLD - Drawdown Comparison

The maximum NSI drawdown since its inception was -18.77%, smaller than the maximum SHLD drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for NSI and SHLD.

Drawdown Indicators

	NSI	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-18.77%	-25.40%	+6.63%
Max Drawdown (1Y) Largest decline over 1 year	-13.66%	-25.40%	+11.74%
Current Drawdown Current decline from peak	-5.48%	-17.23%	+11.75%
Average Drawdown Average peak-to-trough decline	-3.75%	-4.17%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	11.18%	-6.88%

Volatility

NSI vs. SHLD - Volatility Comparison

National Security Emerging Markets Index ETF (NSI) has a higher volatility of 7.61% compared to Global X Defense Tech ETF (SHLD) at 6.57%. This indicates that NSI'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

	NSI	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	6.57%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	18.56%	20.20%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	21.37%	25.43%	-4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	21.57%	-2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	21.57%	-2.52%

NSI vs. SHLD - Expense Ratio Comparison

NSI has a 1.00% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

NSI vs. SHLD - Dividend Comparison

NSI's dividend yield for the trailing twelve months is around 1.22%, more than SHLD's 0.66% yield.

Position	TTM	2025	2024	2023
NSI National Security Emerging Markets Index ETF	1.22%	1.69%	3.39%	0.34%
SHLD Global X Defense Tech ETF	0.66%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both NSI and SHLD in my portfolio?

NSI and SHLD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NSI or SHLD?

NSI has higher volatility (7.61%) compared to SHLD (6.57%). In terms of maximum drawdown, NSI dropped -18.77% vs SHLD's -25.40%.

Which ETF is better, NSI or SHLD?

On 1-year performance, NSI leads with 30.04% vs 6.46% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 6.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NSI or SHLD?

Over the 1-year period, NSI has performed better with a 30.04% return vs 6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NSI or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 1.00% for NSI.

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

NSI has the higher dividend yield at 1.22%, compared with 0.66% for SHLD.

What is the main difference between NSI and SHLD?

NSI is categorized as Emerging Markets Equities, while SHLD is Aerospace & Defense. NSI tracks Alerian National Security Emerging Markets Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: Tuttle and Global X. Their fees differ too: 1.00% for NSI and 0.50% for SHLD.

Which has better risk-adjusted returns?

NSI currently has the higher Sharpe Ratio (1.42 vs 0.26), 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.