SGOL vs. SHLD

Last updated Jun 14, 2026

SGOL (abrdn Physical Gold Shares ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - SGOL is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, SGOL returned 22.44% vs 8.26% for SHLD. At a 0.25 correlation, their price movements are largely independent. SGOL charges 0.17%/yr vs 0.50%/yr for SHLD.

Performance

SGOL vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Gold Shares ETF (SGOL) 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, SGOL achieves a -2.39% return, which is significantly lower than SHLD's -1.50% return.

SGOL

• 1D: 0.10%
• 1M: -7.35%
• YTD: -2.39%
• 6M: -2.15%
• 1Y: 22.44%
• 3Y*: 29.18%
• 5Y*: 17.34%
• 10Y*: 12.34%

SHLD

• 1D: -2.04%
• 1M: 2.37%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGOL vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SGOL abrdn Physical Gold Shares ETF	-2.39%	63.99%	26.90%	7.87%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%

Correlation

The correlation between SGOL and SHLD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.25

Return for Risk

SGOL vs. SHLD — Risk / Return Rank

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

SGOL

SGOL Risk / Return Rank: 26
SGOL Sharpe Ratio Rank: 28
SGOL Sortino Ratio Rank: 25
SGOL Omega Ratio Rank: 31
SGOL Calmar Ratio Rank: 24
SGOL Martin Ratio Rank: 24

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.

SGOL vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Gold Shares ETF (SGOL) 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.

	SGOL	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.89	0.43	+0.47
Sortino ratio: Return per unit of downside risk	1.26	0.78	+0.48
Omega ratio: Gain probability vs. loss probability	1.19	1.09	+0.10
Calmar ratio: Return relative to maximum drawdown	0.99	0.52	+0.47
Martin ratio: Return relative to average drawdown	2.85	1.28	+1.57

SGOL vs. SHLD - Sharpe Ratio Comparison

The current SGOL Sharpe Ratio is 0.89, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of SGOL 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

SGOL vs. SHLD - Drawdown Comparison

The maximum SGOL drawdown since its inception was -45.51%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for SGOL and SHLD.

Drawdown Indicators

	SGOL	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-45.51%	-20.10%	-25.41%
Max Drawdown (1Y) Largest decline over 1 year	-24.37%	-20.10%	-4.27%
Max Drawdown (3Y) Largest decline over 3 years	-24.37%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.37%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.37%	—	—
Current Drawdown Current decline from peak	-22.00%	-18.20%	-3.80%
Average Drawdown Average peak-to-trough decline	-18.41%	-3.34%	-15.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.46%	8.12%	+0.34%

Volatility

SGOL vs. SHLD - Volatility Comparison

The current volatility for abrdn Physical Gold Shares ETF (SGOL) is 7.69%, while Global X Defense Tech ETF (SHLD) has a volatility of 9.05%. This indicates that SGOL 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

	SGOL	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	9.05%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	23.85%	19.94%	+3.91%
Volatility (1Y) Calculated over the trailing 1-year period	27.08%	24.55%	+2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	21.29%	-3.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.04%	21.29%	-5.25%

SGOL vs. SHLD - Expense Ratio Comparison

SGOL has a 0.17% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

SGOL vs. SHLD - Dividend Comparison

SGOL has not paid dividends to shareholders, while SHLD's dividend yield for the trailing twelve months is around 0.56%.

Position	TTM	2025	2024	2023
SGOL abrdn Physical Gold Shares ETF	0.00%	0.00%	0.00%	0.00%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both SGOL and SHLD in my portfolio?

SGOL and SHLD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGOL or SHLD?

SHLD has higher volatility (9.05%) compared to SGOL (7.69%). In terms of maximum drawdown, SGOL dropped -45.51% vs SHLD's -20.10%.

Which ETF is better, SGOL or SHLD?

On 1-year performance, SGOL leads with 22.44% vs 8.26% for SHLD. On fees, SGOL is cheaper at 0.17% per year. On volatility, SGOL has been the lower-risk option at 7.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGOL or SHLD?

Over the 1-year period, SGOL has performed better with a 22.44% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGOL or SHLD?

SGOL is cheaper with a 0.17% expense ratio, compared with 0.50% for SHLD.

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

SHLD has the higher dividend yield at 0.56%, compared with 0.00% for SGOL.

What is the main difference between SGOL and SHLD?

SGOL is categorized as Gold, while SHLD is Aerospace & Defense. SGOL tracks LBMA Gold Price PM ($/ozt), while SHLD tracks Global X Defense Tech Index. They also come from different issuers: abrdn and Global X. Their fees differ too: 0.17% for SGOL and 0.50% for SHLD.

Which has better risk-adjusted returns?

SGOL currently has the higher Sharpe Ratio (0.89 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.