SHLD.TO vs. IDEF

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Defence Tech Index ETF (SHLD.TO) and iShares Defense Industrials Active ETF (IDEF).

SHLD.TO and IDEF 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. IDEF is an actively managed fund by iShares. It was launched on May 19, 2025.

Performance

SHLD.TO vs. IDEF - 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 iShares Defense Industrials Active ETF (IDEF). The values are adjusted to include any dividend payments, if applicable.

SHLD.TO vs. IDEF - Yearly Performance Comparison

	2026 (YTD)	2025
SHLD.TO Global X Defence Tech Index ETF	11.06%	17.33%
IDEF iShares Defense Industrials Active ETF	7.64%	21.83%

Different Trading Currencies

SHLD.TO is traded in CAD, while IDEF is traded in USD. To make them comparable, the IDEF 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 11.06% return, which is significantly higher than IDEF's 7.64% return.

SHLD.TO

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

IDEF

• 1D: 4.03%
• 1M: -6.98%
• YTD: 7.64%
• 6M: 2.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHLD.TO vs. IDEF - Expense Ratio Comparison

SHLD.TO has a 0.50% expense ratio, which is lower than IDEF's 0.55% expense ratio.

IDEF

iShares Defense Industrials Active ETF

SHLD.TO

Global X Defence Tech Index ETF

Return for Risk

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

This table presents a comparison of risk-adjusted performance metrics for Global X Defence Tech Index ETF (SHLD.TO) and iShares Defense Industrials Active ETF (IDEF). 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	IDEF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.92	1.92	0.00

Correlation

The correlation between SHLD.TO and IDEF is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SHLD.TO vs. IDEF - Dividend Comparison

SHLD.TO's dividend yield for the trailing twelve months is around 0.16%, which matches IDEF's 0.16% yield.

	TTM	2025
SHLD.TO Global X Defence Tech Index ETF	0.16%	0.18%
IDEF iShares Defense Industrials Active ETF	0.16%	0.17%

Drawdowns

SHLD.TO vs. IDEF - Drawdown Comparison

The maximum SHLD.TO drawdown since its inception was -14.91%, which is greater than IDEF's maximum drawdown of -13.07%. Use the drawdown chart below to compare losses from any high point for SHLD.TO and IDEF.

Drawdown Indicators

	SHLD.TO	IDEF	Difference
Max Drawdown Largest peak-to-trough decline	-14.91%	-14.63%	-0.28%
Current Drawdown Current decline from peak	-11.30%	-11.08%	-0.22%
Average Drawdown Average peak-to-trough decline	-4.47%	-2.88%	-1.59%

Volatility

Volatility by Period

	SHLD.TO	IDEF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	24.64%	19.51%	+5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.64%	19.51%	+5.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.64%	19.51%	+5.13%