SHLD.TO vs. FSDAX

Last updated Jun 4, 2026

SHLD.TO (Global X Defence Tech Index ETF) and FSDAX (Fidelity Select Defense & Aerospace Portfolio) are both funds - SHLD.TO is a Aerospace & Defense fund tracking the Global X Defense Tech Index, while FSDAX is a Industrials Equities fund managed by Fidelity. Over the past year, SHLD.TO returned 11.07% vs 27.03% for FSDAX. A 0.62 correlation means they provide meaningful diversification when combined. SHLD.TO charges 0.50%/yr vs 0.74%/yr for FSDAX.

Performance

SHLD.TO vs. FSDAX - 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 Fidelity Select Defense & Aerospace Portfolio (FSDAX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SHLD.TO is traded in CAD, while FSDAX is traded in USD. To make them comparable, the FSDAX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SHLD.TO achieves a -1.13% return, which is significantly lower than FSDAX's 7.57% return.

SHLD.TO

• 1D: -1.94%
• 1M: -5.03%
• YTD: -1.13%
• 6M: 1.30%
• 1Y: 11.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSDAX

• 1D: -0.63%
• 1M: 8.35%
• YTD: 7.57%
• 6M: 12.98%
• 1Y: 27.03%
• 3Y*: 29.73%
• 5Y*: 19.38%
• 10Y*: 16.23%

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

SHLD.TO vs. FSDAX - Yearly Performance Comparison

	2026 (YTD)	2025
SHLD.TO Global X Defence Tech Index ETF	-1.13%	28.13%
FSDAX Fidelity Select Defense & Aerospace Portfolio	7.57%	34.25%

Correlation

The correlation between SHLD.TO and FSDAX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.62

The correlation between SHLD.TO and FSDAX has been stable across timeframes, ranging from 0.62 to 0.63 - a consistent structural relationship.

Return for Risk

SHLD.TO vs. FSDAX — Risk / Return Rank

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

SHLD.TO

SHLD.TO Risk / Return Rank: 15
SHLD.TO Sharpe Ratio Rank: 15
SHLD.TO Sortino Ratio Rank: 16
SHLD.TO Omega Ratio Rank: 15
SHLD.TO Calmar Ratio Rank: 15
SHLD.TO Martin Ratio Rank: 15

FSDAX

FSDAX Risk / Return Rank: 19
FSDAX Sharpe Ratio Rank: 20
FSDAX Sortino Ratio Rank: 20
FSDAX Omega Ratio Rank: 19
FSDAX Calmar Ratio Rank: 20
FSDAX Martin Ratio Rank: 17

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. FSDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defence Tech Index ETF (SHLD.TO) and Fidelity Select Defense & Aerospace Portfolio (FSDAX). 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.

	SHLD.TO	FSDAX	Difference
Sharpe ratio Return per unit of total volatility	0.46	1.35	-0.89
Sortino ratio Return per unit of downside risk	0.81	1.98	-1.18
Omega ratio Gain probability vs. loss probability	1.10	1.24	-0.14
Calmar ratio Return relative to maximum drawdown	0.48	1.93	-1.45
Martin ratio Return relative to average drawdown	1.22	5.09	-3.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHLD.TO vs. FSDAX - Sharpe Ratio Comparison

The current SHLD.TO Sharpe Ratio is 0.46, which is lower than the FSDAX Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of SHLD.TO and FSDAX, 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

	SHLD.TO	FSDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	1.35	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.92	+0.06

Drawdowns

SHLD.TO vs. FSDAX - Drawdown Comparison

The maximum SHLD.TO drawdown since its inception was -23.13%, smaller than the maximum FSDAX drawdown of -42.12%. Use the drawdown chart below to compare losses from any high point for SHLD.TO and FSDAX.

Drawdown Indicators

	SHLD.TO	FSDAX	Difference
Max Drawdown Largest peak-to-trough decline	-23.13%	-42.12%	+18.99%
Max Drawdown (1Y) Largest decline over 1 year	-23.13%	-14.60%	-8.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.12%	—
Current Drawdown Current decline from peak	-21.04%	-6.13%	-14.91%
Average Drawdown Average peak-to-trough decline	-6.23%	-5.62%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.06%	5.52%	+3.54%

Volatility

SHLD.TO vs. FSDAX - Volatility Comparison

Global X Defence Tech Index ETF (SHLD.TO) and Fidelity Select Defense & Aerospace Portfolio (FSDAX) have volatilities of 7.54% and 7.30%, 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

	SHLD.TO	FSDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	7.30%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	19.64%	17.95%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	24.23%	20.87%	+3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.71%	18.78%	+5.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.71%	20.68%	+4.03%

SHLD.TO vs. FSDAX - Expense Ratio Comparison

SHLD.TO has a 0.50% expense ratio, which is lower than FSDAX's 0.74% expense ratio.

Dividends

SHLD.TO vs. FSDAX - Dividend Comparison

SHLD.TO's dividend yield for the trailing twelve months is around 0.18%, less than FSDAX's 2.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSDAX Fidelity Select Defense & Aerospace Portfolio	2.14%	4.48%	7.68%	6.47%	8.87%	8.38%	2.11%	2.62%	11.45%	3.57%	4.87%	6.30%
SHLD.TO Global X Defence Tech Index ETF	0.18%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHLD.TO and FSDAX in my portfolio?

SHLD.TO and FSDAX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.