SHLD.TO vs. IDEF
SHLD.TO (Global X Defence Tech Index ETF) and IDEF (iShares Defense Industrials Active ETF) are both Aerospace & Defense funds. SHLD.TO is passively managed, while IDEF is actively managed. Over the past year, SHLD.TO returned 11.07% vs 23.43% for IDEF. Their correlation of 0.84 suggests significant overlap in exposure. SHLD.TO charges 0.50%/yr vs 0.55%/yr for IDEF.
Performance
SHLD.TO vs. IDEF - Performance Comparison
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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 -1.13% return, which is significantly lower than IDEF's 6.08% return.
SHLD.TO
- 1D
- -1.94%
- 1M
- -5.03%
- YTD
- -1.13%
- 6M
- 1.30%
- 1Y
- 11.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IDEF
- 1D
- -2.14%
- 1M
- -0.71%
- YTD
- 6.08%
- 6M
- 9.03%
- 1Y
- 23.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHLD.TO vs. IDEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHLD.TO Global X Defence Tech Index ETF | -1.13% | 17.33% |
IDEF iShares Defense Industrials Active ETF | 6.08% | 21.83% |
Correlation
The correlation between SHLD.TO and IDEF is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since May 22, 2025 | 0.84 |
The correlation between SHLD.TO and IDEF has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.
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Return for Risk
SHLD.TO vs. IDEF — Risk / Return Rank
SHLD.TO
IDEF
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.
| SHLD.TO | IDEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.20 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 1.80 | -1.32 |
| Martin ratioReturn relative to average drawdown | 1.22 | 4.20 | -2.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHLD.TO | IDEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.15 | -0.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 1.39 | -0.40 |
Drawdowns
SHLD.TO vs. IDEF - Drawdown Comparison
The maximum SHLD.TO drawdown since its inception was -23.13%, 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.
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Drawdown Indicators
| SHLD.TO | IDEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -13.07% | -10.06% |
Max Drawdown (1Y)Largest decline over 1 year | -23.13% | -13.07% | -10.06% |
Current DrawdownCurrent decline from peak | -21.04% | -10.88% | -10.16% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -3.97% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.06% | 5.59% | +3.47% |
Volatility
SHLD.TO vs. IDEF - Volatility Comparison
Global X Defence Tech Index ETF (SHLD.TO) and iShares Defense Industrials Active ETF (IDEF) have volatilities of 7.54% and 7.76%, 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.
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Volatility by Period
| SHLD.TO | IDEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 7.76% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 19.64% | 17.35% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.23% | 20.42% | +3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.71% | 20.44% | +4.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.71% | 20.44% | +4.27% |
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.
Dividends
SHLD.TO vs. IDEF - Dividend Comparison
SHLD.TO's dividend yield for the trailing twelve months is around 0.18%, more than IDEF's 0.16% yield.
| Position | TTM | 2025 |
|---|---|---|
IDEF iShares Defense Industrials Active ETF | 0.16% | 0.17% |
SHLD.TO Global X Defence Tech Index ETF | 0.18% | 0.18% |
Frequently Asked Questions
SHLD.TO and IDEF have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHLD.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHLD.TO is cheaper with a 0.50% expense ratio, compared with 0.55% for IDEF.
They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for SHLD.TO and 0.55% for IDEF.
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