SGDM vs. SHLD

Last updated Jun 13, 2026

SGDM (Sprott Gold Miners ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - SGDM is a Materials fund tracking the Solactive Gold Miners Custom Factors Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, SGDM returned 43.72% vs 8.26% for SHLD. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

SGDM vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Gold Miners ETF (SGDM) 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, SGDM achieves a -4.58% return, which is significantly lower than SHLD's -1.50% return.

SGDM

• 1D: 3.49%
• 1M: -14.98%
• YTD: -4.58%
• 6M: -4.02%
• 1Y: 43.72%
• 3Y*: 37.20%
• 5Y*: 17.23%
• 10Y*: 11.84%

SHLD

• 1D: -2.04%
• 1M: -0.44%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGDM vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SGDM Sprott Gold Miners ETF	-4.58%	153.46%	12.14%	3.30%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%

Correlation

The correlation between SGDM and SHLD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.32

SGDM vs. SHLD - Sectors Allocation Comparison

Sectors	SGDM	SHLD
Basic Materials	99.8%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	88.2%
Real Estate	-	-
Technology	-	11.8%
Utilities	-	-

Return for Risk

SGDM vs. SHLD — Risk / Return Rank

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

SGDM

SGDM Risk / Return Rank: 31
SGDM Sharpe Ratio Rank: 32
SGDM Sortino Ratio Rank: 29
SGDM Omega Ratio Rank: 33
SGDM Calmar Ratio Rank: 30
SGDM Martin Ratio Rank: 29

SHLD

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

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.

SGDM vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) 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.

	SGDM	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.43	+0.58
Sortino ratio: Return per unit of downside risk	1.42	0.78	+0.64
Omega ratio: Gain probability vs. loss probability	1.20	1.09	+0.11
Calmar ratio: Return relative to maximum drawdown	1.30	0.52	+0.78
Martin ratio: Return relative to average drawdown	3.60	1.28	+2.31

SGDM vs. SHLD - Sharpe Ratio Comparison

The current SGDM Sharpe Ratio is 1.01, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of SGDM 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

SGDM vs. SHLD - Drawdown Comparison

The maximum SGDM drawdown since its inception was -54.95%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for SGDM and SHLD.

Drawdown Indicators

	SGDM	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-54.95%	-20.10%	-34.85%
Max Drawdown (1Y) Largest decline over 1 year	-35.96%	-20.10%	-15.86%
Max Drawdown (3Y) Largest decline over 3 years	-35.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.69%	—	—
Current Drawdown Current decline from peak	-30.31%	-18.20%	-12.11%
Average Drawdown Average peak-to-trough decline	-25.46%	-3.34%	-22.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.93%	8.12%	+4.81%

Volatility

SGDM vs. SHLD - Volatility Comparison

Sprott Gold Miners ETF (SGDM) has a higher volatility of 16.53% compared to Global X Defense Tech ETF (SHLD) at 9.05%. This indicates that SGDM'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

	SGDM	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.53%	9.05%	+7.48%
Volatility (6M) Calculated over the trailing 6-month period	38.64%	19.94%	+18.70%
Volatility (1Y) Calculated over the trailing 1-year period	46.24%	24.55%	+21.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.11%	21.29%	+14.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.97%	21.29%	+15.68%

SGDM vs. SHLD - Expense Ratio Comparison

Both SGDM and SHLD have an expense ratio of 0.50%.

Dividends

SGDM vs. SHLD - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 1.09%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SGDM Sprott Gold Miners ETF	1.09%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGDM and SHLD in my portfolio?

SGDM and SHLD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDM or SHLD?

SGDM has higher volatility (16.53%) compared to SHLD (9.05%). In terms of maximum drawdown, SGDM dropped -54.95% vs SHLD's -20.10%.

Which ETF is better, SGDM or SHLD?

On 1-year performance, SGDM leads with 43.72% vs 8.26% for SHLD. Both ETFs have the same 0.50% expense ratio. On volatility, SHLD has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDM or SHLD?

Over the 1-year period, SGDM has performed better with a 43.72% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDM or SHLD?

SGDM and SHLD have the same expense ratio: 0.50% per year.

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

SGDM has the higher dividend yield at 1.09%, compared with 0.56% for SHLD.

What is the main difference between SGDM and SHLD?

SGDM is categorized as Materials, while SHLD is Aerospace & Defense. SGDM tracks Solactive Gold Miners Custom Factors Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: Sprott and Global X.

Which has better risk-adjusted returns?

SGDM currently has the higher Sharpe Ratio (1.01 vs 0.43), 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.