NSI vs. SHLD

Last updated Jun 3, 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 Diversified 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 45.09% vs 9.71% for SHLD. At a 0.37 correlation, their price movements are largely independent. 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 19.35% return, which is significantly higher than SHLD's -2.28% return.

NSI

• 1D: 1.37%
• 1M: 5.14%
• YTD: 19.35%
• 6M: 21.16%
• 1Y: 45.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -2.39%
• 1M: -7.01%
• YTD: -2.28%
• 6M: 1.71%
• 1Y: 9.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NSI vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NSI National Security Emerging Markets Index ETF	19.35%	35.94%	-1.21%	4.68%
SHLD Global X Defense Tech ETF	-2.28%	74.16%	35.03%	3.71%

Correlation

The correlation between NSI and SHLD is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Dec 8, 2023	0.37

NSI vs. SHLD - Sectors Allocation Comparison

Sectors	NSI	SHLD
Technology	34.0%	11.8%
Financial Services	20.2%	-
Consumer Cyclical	13.5%	-
Communication Services	10.1%	-
Basic Materials	8.0%	-
Energy	3.9%	-
Industrials	2.9%	88.2%
Healthcare	2.9%	-
Consumer Defensive	2.5%	-
Utilities	1.5%	-
Real Estate	0.6%	-

Return for Risk

NSI vs. SHLD — Risk / Return Rank

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

NSI

NSI Risk / Return Rank: 70
NSI Sharpe Ratio Rank: 74
NSI Sortino Ratio Rank: 71
NSI Omega Ratio Rank: 72
NSI Calmar Ratio Rank: 67
NSI Martin Ratio Rank: 67

SHLD

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

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.

	NSI	SHLD	Difference
Sharpe ratio Return per unit of total volatility	2.46	0.41	+2.05
Sortino ratio Return per unit of downside risk	3.30	0.74	+2.55
Omega ratio Gain probability vs. loss probability	1.44	1.08	+0.35
Calmar ratio Return relative to maximum drawdown	3.38	0.49	+2.90
Martin ratio Return relative to average drawdown	12.53	1.30	+11.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NSI vs. SHLD - Sharpe Ratio Comparison

The current NSI Sharpe Ratio is 2.46, which is higher than the SHLD Sharpe Ratio of 0.41. 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.

Sharpe Ratios by Period

	NSI	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	0.41	+2.05
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	2.00	-0.71

Drawdowns

NSI vs. SHLD - Drawdown Comparison

The maximum NSI drawdown since its inception was -18.77%, smaller than the maximum SHLD drawdown of -20.10%. 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%	-20.10%	+1.33%
Max Drawdown (1Y) Largest decline over 1 year	-13.66%	-20.10%	+6.44%
Current Drawdown Current decline from peak	0.00%	-18.85%	+18.85%
Average Drawdown Average peak-to-trough decline	-3.65%	-3.19%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	7.51%	-3.82%

Volatility

NSI vs. SHLD - Volatility Comparison

The current volatility for National Security Emerging Markets Index ETF (NSI) is 6.90%, while Global X Defense Tech ETF (SHLD) has a volatility of 7.81%. This indicates that NSI 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

	NSI	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.90%	7.81%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	15.52%	19.35%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	18.43%	24.05%	-5.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.20%	21.13%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.20%	21.13%	-2.93%

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 1.15%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023
NSI National Security Emerging Markets Index ETF	1.15%	1.69%	3.39%	0.34%
SHLD Global X Defense Tech ETF	0.56%	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 0.34, 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?

SHLD has higher volatility (7.81%) compared to NSI (6.90%). In terms of maximum drawdown, NSI dropped -18.77% vs SHLD's -20.10%.

Which ETF is better, NSI or SHLD?

On 1-year performance, NSI leads with 45.09% vs 9.71% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, NSI has been the lower-risk option at 6.90%. 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 45.09% return vs 9.71%. 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 1.15%, compared with 0.56% for SHLD.

What is the main difference between NSI and SHLD?

NSI is categorized as Emerging Markets Diversified, 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 (2.46 vs 0.41), 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.