SHLD.TO vs. AMAX.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Defence Tech Index ETF (SHLD.TO) and Hamilton Gold Producer YIELD MAXIMIZER ETF (AMAX.TO).

SHLD.TO and AMAX.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHLD.TO is a passively managed fund by Global X that tracks the performance of the Global X Defense Tech Index. It was launched on Apr 21, 2025. AMAX.TO is an actively managed fund by Hamilton Capital. It was launched on Feb 6, 2024.

Performance

SHLD.TO vs. AMAX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Defence Tech Index ETF (SHLD.TO) and Hamilton Gold Producer YIELD MAXIMIZER ETF (AMAX.TO). The values are adjusted to include any dividend payments, if applicable.

SHLD.TO vs. AMAX.TO - Yearly Performance Comparison

	2026 (YTD)	2025
SHLD.TO Global X Defence Tech Index ETF	11.06%	28.13%
AMAX.TO Hamilton Gold Producer YIELD MAXIMIZER ETF	4.61%	57.61%

Returns By Period

In the year-to-date period, SHLD.TO achieves a 11.06% return, which is significantly higher than AMAX.TO's 4.61% return.

SHLD.TO

• 1D: 3.91%
• 1M: -3.17%
• YTD: 11.06%
• 6M: 1.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMAX.TO

• 1D: 5.62%
• 1M: -18.54%
• YTD: 4.61%
• 6M: 13.47%
• 1Y: 68.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHLD.TO vs. AMAX.TO - Expense Ratio Comparison

SHLD.TO has a 0.50% expense ratio, which is lower than AMAX.TO's 0.65% expense ratio.

AMAX.TO

Hamilton Gold Producer YIELD MAXIMIZER ETF

SHLD.TO

Global X Defence Tech Index ETF

Return for Risk

SHLD.TO vs. AMAX.TO — Risk / Return Rank

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

AMAX.TO

AMAX.TO Risk / Return Rank: 84
AMAX.TO Sharpe Ratio Rank: 87
AMAX.TO Sortino Ratio Rank: 82
AMAX.TO Omega Ratio Rank: 82
AMAX.TO Calmar Ratio Rank: 85
AMAX.TO Martin Ratio Rank: 83

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.

SHLD.TO vs. AMAX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defence Tech Index ETF (SHLD.TO) and Hamilton Gold Producer YIELD MAXIMIZER ETF (AMAX.TO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SHLD.TO	AMAX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.92	1.96	-0.04

Correlation

The correlation between SHLD.TO and AMAX.TO is 0.26, 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

SHLD.TO vs. AMAX.TO - Dividend Comparison

SHLD.TO's dividend yield for the trailing twelve months is around 0.16%, less than AMAX.TO's 6.91% yield.

	TTM	2025	2024
SHLD.TO Global X Defence Tech Index ETF	0.16%	0.18%	0.00%
AMAX.TO Hamilton Gold Producer YIELD MAXIMIZER ETF	6.91%	7.11%	11.22%

Drawdowns

SHLD.TO vs. AMAX.TO - Drawdown Comparison

The maximum SHLD.TO drawdown since its inception was -14.91%, smaller than the maximum AMAX.TO drawdown of -28.60%. Use the drawdown chart below to compare losses from any high point for SHLD.TO and AMAX.TO.

Drawdown Indicators

	SHLD.TO	AMAX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-14.91%	-28.60%	+13.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-28.60%	—
Current Drawdown Current decline from peak	-11.30%	-18.54%	+7.24%
Average Drawdown Average peak-to-trough decline	-4.47%	-4.66%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.74%	—

Volatility

Volatility by Period

	SHLD.TO	AMAX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.54%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.64%	39.73%	-15.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.64%	33.11%	-8.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.64%	33.11%	-8.47%