SHLD.TO vs. KDEF
SHLD.TO (Global X Defence Tech Index ETF) and KDEF (PLUS Korea Defense Industry Index ETF) are both Aerospace & Defense funds - SHLD.TO tracks the Global X Defense Tech Index while KDEF tracks the The Korea Defence Industry Index. Both are passively managed. Over the past year, SHLD.TO returned 11.07% vs 41.87% for KDEF. At a 0.46 correlation, their price movements are largely independent. SHLD.TO charges 0.50%/yr vs 0.65%/yr for KDEF.
Performance
SHLD.TO vs. KDEF - Performance Comparison
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Different Trading Currencies
SHLD.TO is traded in CAD, while KDEF is traded in USD. To make them comparable, the KDEF 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 KDEF's 7.41% return.
SHLD.TO
- 1D
- -1.94%
- 1M
- -5.03%
- YTD
- -1.13%
- 6M
- 1.30%
- 1Y
- 11.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KDEF
- 1D
- -2.00%
- 1M
- -25.41%
- YTD
- 7.41%
- 6M
- 17.60%
- 1Y
- 41.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHLD.TO vs. KDEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHLD.TO Global X Defence Tech Index ETF | -1.13% | 28.13% |
KDEF PLUS Korea Defense Industry Index ETF | 7.41% | 56.40% |
Correlation
The correlation between SHLD.TO and KDEF is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.46 |
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Return for Risk
SHLD.TO vs. KDEF — Risk / Return Rank
SHLD.TO
KDEF
SHLD.TO vs. KDEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Defence Tech Index ETF (SHLD.TO) and PLUS Korea Defense Industry Index ETF (KDEF). 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 | KDEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.18 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 1.50 | -1.02 |
| Martin ratioReturn relative to average drawdown | 1.22 | 4.63 | -3.40 |
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 | KDEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 0.96 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 1.86 | -0.88 |
Drawdowns
SHLD.TO vs. KDEF - Drawdown Comparison
The maximum SHLD.TO drawdown since its inception was -23.13%, smaller than the maximum KDEF drawdown of -28.01%. Use the drawdown chart below to compare losses from any high point for SHLD.TO and KDEF.
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Drawdown Indicators
| SHLD.TO | KDEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -28.01% | +4.88% |
Max Drawdown (1Y)Largest decline over 1 year | -23.13% | -28.01% | +4.88% |
Current DrawdownCurrent decline from peak | -21.04% | -28.01% | +6.97% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -6.16% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.06% | 9.07% | -0.01% |
Volatility
SHLD.TO vs. KDEF - Volatility Comparison
The current volatility for Global X Defence Tech Index ETF (SHLD.TO) is 7.54%, while PLUS Korea Defense Industry Index ETF (KDEF) has a volatility of 15.71%. This indicates that SHLD.TO experiences smaller price fluctuations and is considered to be less risky than KDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHLD.TO | KDEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 15.71% | -8.17% |
Volatility (6M)Calculated over the trailing 6-month period | 19.64% | 35.75% | -16.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.23% | 43.70% | -19.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.71% | 45.38% | -20.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.71% | 45.38% | -20.67% |
SHLD.TO vs. KDEF - Expense Ratio Comparison
SHLD.TO has a 0.50% expense ratio, which is lower than KDEF's 0.65% expense ratio.
Dividends
SHLD.TO vs. KDEF - Dividend Comparison
SHLD.TO's dividend yield for the trailing twelve months is around 0.18%, less than KDEF's 6.48% yield.
| Position | TTM | 2025 |
|---|---|---|
KDEF PLUS Korea Defense Industry Index ETF | 6.48% | 5.06% |
SHLD.TO Global X Defence Tech Index ETF | 0.18% | 0.18% |
Frequently Asked Questions
SHLD.TO and KDEF have a correlation of 0.47, 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 0.65% for KDEF.
SHLD.TO tracks Global X Defense Tech Index, while KDEF tracks The Korea Defence Industry Index. They also come from different issuers: Global X and PLUS. Their fees differ too: 0.50% for SHLD.TO and 0.65% for KDEF.
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