QTR vs. SHLD

Last updated Jun 4, 2026

QTR (Global X NASDAQ 100 Tail Risk ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - QTR is a Nasdaq-100 fund tracking the NASDAQ-100 Quarterly Protective Put 90 Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, QTR returned 33.76% vs 9.71% for SHLD. At a 0.36 correlation, their price movements are largely independent. QTR charges 0.60%/yr vs 0.50%/yr for SHLD.

Performance

QTR vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X NASDAQ 100 Tail Risk ETF (QTR) 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, QTR achieves a 17.64% return, which is significantly higher than SHLD's -2.28% return.

QTR

• 1D: -0.24%
• 1M: 10.52%
• YTD: 17.64%
• 6M: 15.72%
• 1Y: 33.76%
• 3Y*: 22.93%
• 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)

QTR vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QTR Global X NASDAQ 100 Tail Risk ETF	17.64%	14.52%	21.46%	8.44%
SHLD Global X Defense Tech ETF	-2.28%	74.16%	35.03%	12.89%

Correlation

The correlation between QTR and SHLD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.36

QTR vs. SHLD - Sectors Allocation Comparison

Sectors	QTR	SHLD
Technology	53.8%	11.8%
Communication Services	15.8%	-
Consumer Cyclical	12.2%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.8%	88.2%
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

QTR vs. SHLD — Risk / Return Rank

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

QTR

QTR Risk / Return Rank: 64
QTR Sharpe Ratio Rank: 72
QTR Sortino Ratio Rank: 70
QTR Omega Ratio Rank: 68
QTR Calmar Ratio Rank: 55
QTR Martin Ratio Rank: 55

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.

QTR vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Tail Risk ETF (QTR) 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.

	QTR	SHLD	Difference
Sharpe ratio Return per unit of total volatility	2.40	0.41	+2.00
Sortino ratio Return per unit of downside risk	3.22	0.74	+2.48
Omega ratio Gain probability vs. loss probability	1.41	1.08	+0.33
Calmar ratio Return relative to maximum drawdown	2.76	0.49	+2.27
Martin ratio Return relative to average drawdown	9.47	1.30	+8.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTR vs. SHLD - Sharpe Ratio Comparison

The current QTR Sharpe Ratio is 2.40, which is higher than the SHLD Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of QTR 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

	QTR	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	0.41	+2.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	2.00	-1.32

Drawdowns

QTR vs. SHLD - Drawdown Comparison

The maximum QTR drawdown since its inception was -31.72%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for QTR and SHLD.

Drawdown Indicators

	QTR	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-31.72%	-20.10%	-11.62%
Max Drawdown (1Y) Largest decline over 1 year	-12.29%	-20.10%	+7.81%
Max Drawdown (3Y) Largest decline over 3 years	-18.99%	—	—
Current Drawdown Current decline from peak	-0.24%	-18.85%	+18.61%
Average Drawdown Average peak-to-trough decline	-8.84%	-3.19%	-5.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	7.51%	-3.94%

Volatility

QTR vs. SHLD - Volatility Comparison

The current volatility for Global X NASDAQ 100 Tail Risk ETF (QTR) is 4.52%, while Global X Defense Tech ETF (SHLD) has a volatility of 7.81%. This indicates that QTR 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

	QTR	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	7.81%	-3.29%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	19.35%	-8.67%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	24.05%	-9.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	21.13%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	21.13%	-3.03%

QTR vs. SHLD - Expense Ratio Comparison

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

Dividends

QTR vs. SHLD - Dividend Comparison

QTR's dividend yield for the trailing twelve months is around 15.96%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021
QTR Global X NASDAQ 100 Tail Risk ETF	15.96%	18.77%	0.50%	0.53%	0.36%	1.90%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QTR and SHLD in my portfolio?

QTR and SHLD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTR or SHLD?

SHLD has higher volatility (7.81%) compared to QTR (4.52%). In terms of maximum drawdown, QTR dropped -31.72% vs SHLD's -20.10%.

Which ETF is better, QTR or SHLD?

On 1-year performance, QTR leads with 33.76% vs 9.71% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, QTR has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTR or SHLD?

Over the 1-year period, QTR has performed better with a 33.76% return vs 9.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTR or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.60% for QTR.

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

QTR has the higher dividend yield at 15.96%, compared with 0.56% for SHLD.

What is the main difference between QTR and SHLD?

QTR is categorized as Nasdaq-100, while SHLD is Aerospace & Defense. QTR tracks NASDAQ-100 Quarterly Protective Put 90 Index, while SHLD tracks Global X Defense Tech Index. Their fees differ too: 0.60% for QTR and 0.50% for SHLD.

Which has better risk-adjusted returns?

QTR currently has the higher Sharpe Ratio (2.40 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.