SHLD.TO vs. SHLD
SHLD.TO (Global X Defence Tech Index ETF) and SHLD (Global X Defense Tech ETF) are both Aerospace & Defense funds from Global X tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, SHLD.TO returned 11.07% vs 11.13% for SHLD. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.50% expense ratio.
Performance
SHLD.TO vs. SHLD - Performance Comparison
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Different Trading Currencies
SHLD.TO is traded in CAD, while SHLD is traded in USD. To make them comparable, the SHLD 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 SHLD's -1.04% return.
SHLD.TO
- 1D
- -1.94%
- 1M
- -5.03%
- YTD
- -1.13%
- 6M
- 1.30%
- 1Y
- 11.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHLD
- 1D
- -1.99%
- 1M
- -5.15%
- YTD
- -1.04%
- 6M
- 1.32%
- 1Y
- 11.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHLD.TO vs. SHLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHLD.TO Global X Defence Tech Index ETF | -1.13% | 28.13% |
SHLD Global X Defense Tech ETF | -1.04% | 24.97% |
Correlation
The correlation between SHLD.TO and SHLD is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 1, 2025 | 0.95 |
The correlation between SHLD.TO and SHLD has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
SHLD.TO vs. SHLD — Risk / Return Rank
SHLD.TO
SHLD
SHLD.TO vs. SHLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Defence Tech Index ETF (SHLD.TO) and Global X Defense Tech ETF (SHLD). 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 | SHLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 0.53 | -0.05 |
| Martin ratioReturn relative to average drawdown | 1.22 | 1.39 | -0.17 |
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 | SHLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 0.48 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 2.16 | -1.18 |
Drawdowns
SHLD.TO vs. SHLD - Drawdown Comparison
The maximum SHLD.TO drawdown since its inception was -23.13%, which is greater than SHLD's maximum drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for SHLD.TO and SHLD.
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Drawdown Indicators
| SHLD.TO | SHLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -20.96% | -2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -23.13% | -20.96% | -2.17% |
Current DrawdownCurrent decline from peak | -21.04% | -18.84% | -2.20% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -3.13% | -3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.06% | 8.00% | +1.06% |
Volatility
SHLD.TO vs. SHLD - Volatility Comparison
Global X Defence Tech Index ETF (SHLD.TO) and Global X Defense Tech ETF (SHLD) have volatilities of 7.54% and 7.73%, 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 | SHLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 7.73% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 19.64% | 18.81% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.23% | 23.43% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.71% | 20.16% | +4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.71% | 20.16% | +4.55% |
SHLD.TO vs. SHLD - Expense Ratio Comparison
Both SHLD.TO and SHLD have an expense ratio of 0.50%.
Dividends
SHLD.TO vs. SHLD - Dividend Comparison
SHLD.TO's dividend yield for the trailing twelve months is around 0.18%, less than SHLD's 0.56% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SHLD Global X Defense Tech ETF | 0.56% | 0.55% | 0.53% | 0.26% |
SHLD.TO Global X Defence Tech Index ETF | 0.18% | 0.18% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, SHLD.TO and SHLD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SHLD.TO and SHLD have the same expense ratio: 0.50% per year.
Both ETFs track Global X Defense Tech Index.
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