NSI vs. SHLD

Last updated Apr 1, 2026

Compare and contrast key facts about National Security Emerging Markets Index ETF (NSI) and Global X Defense Tech ETF (SHLD).

NSI and SHLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NSI is a passively managed fund by Tuttle that tracks the performance of the Alerian National Security Emerging Markets Index. It was launched on Dec 6, 2023. SHLD is a passively managed fund by Global X that tracks the performance of the Global X Defense Tech Index - Benchmark TR Net. It was launched on Sep 11, 2023. Both NSI and SHLD 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

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.

NSI vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NSI National Security Emerging Markets Index ETF	4.85%	35.94%	-1.21%	4.68%
SHLD Global X Defense Tech ETF	9.34%	74.16%	35.03%	3.71%

Returns By Period

In the year-to-date period, NSI achieves a 4.85% return, which is significantly lower than SHLD's 9.34% return.

NSI

• 1D: 3.78%
• 1M: -8.34%
• YTD: 4.85%
• 6M: 9.94%
• 1Y: 37.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: 3.72%
• 1M: -5.37%
• YTD: 9.34%
• 6M: 1.22%
• 1Y: 53.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NSI vs. SHLD - Expense Ratio Comparison

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

NSI

National Security Emerging Markets Index ETF

SHLD

Global X Defense Tech ETF

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: 88
NSI Sharpe Ratio Rank: 89
NSI Sortino Ratio Rank: 90
NSI Omega Ratio Rank: 89
NSI Calmar Ratio Rank: 87
NSI Martin Ratio Rank: 87

SHLD

SHLD Risk / Return Rank: 92
SHLD Sharpe Ratio Rank: 93
SHLD Sortino Ratio Rank: 93
SHLD Omega Ratio Rank: 90
SHLD Calmar Ratio Rank: 94
SHLD Martin Ratio Rank: 88

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	1.95	2.10	-0.15
Sortino ratio Return per unit of downside risk	2.60	2.75	-0.15
Omega ratio Gain probability vs. loss probability	1.37	1.36	+0.01
Calmar ratio Return relative to maximum drawdown	2.74	3.53	-0.78
Martin ratio Return relative to average drawdown	10.60	10.28	+0.33
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 1.95, which is comparable to the SHLD Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of NSI and SHLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NSI	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.10	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	2.53	-1.50

Correlation

The correlation between NSI and SHLD is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NSI vs. SHLD - Dividend Comparison

NSI's dividend yield for the trailing twelve months is around 1.61%, more than SHLD's 0.50% yield.

	TTM	2025	2024	2023
NSI National Security Emerging Markets Index ETF	1.61%	1.69%	3.39%	0.34%
SHLD Global X Defense Tech ETF	0.50%	0.55%	0.53%	0.26%

Drawdowns

NSI vs. SHLD - Drawdown Comparison

The maximum NSI drawdown since its inception was -18.77%, which is greater than SHLD's maximum drawdown of -15.06%. 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%	-15.06%	-3.71%
Max Drawdown (1Y) Largest decline over 1 year	-13.66%	-15.06%	+1.40%
Current Drawdown Current decline from peak	-10.40%	-9.20%	-1.20%
Average Drawdown Average peak-to-trough decline	-3.65%	-2.57%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	5.17%	-1.64%

Volatility

NSI vs. SHLD - Volatility Comparison

National Security Emerging Markets Index ETF (NSI) and Global X Defense Tech ETF (SHLD) have volatilities of 9.26% and 8.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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	9.26%	8.85%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	14.45%	18.37%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	19.40%	25.40%	-6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.83%	20.70%	-2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.83%	20.70%	-2.87%