SHLD.TO vs. SMH

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Defence Tech Index ETF (SHLD.TO) and VanEck Semiconductor ETF (SMH).

SHLD.TO and SMH 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. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both SHLD.TO and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SHLD.TO vs. SMH - 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 VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

SHLD.TO vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025
SHLD.TO Global X Defence Tech Index ETF	11.06%	28.13%
SMH VanEck Semiconductor ETF	7.90%	70.04%

Different Trading Currencies

SHLD.TO is traded in CAD, while SMH is traded in USD. To make them comparable, the SMH 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 SMH's 7.90% return.

SHLD.TO

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

SMH

• 1D: 5.64%
• 1M: -3.79%
• YTD: 7.90%
• 6M: 17.74%
• 1Y: 75.81%
• 3Y*: 44.84%
• 5Y*: 28.21%
• 10Y*: 32.16%

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

SHLD.TO vs. SMH - Expense Ratio Comparison

SHLD.TO has a 0.50% expense ratio, which is higher than SMH's 0.35% expense ratio.

SHLD.TO

Global X Defence Tech Index ETF

SMH

VanEck Semiconductor ETF

Return for Risk

SHLD.TO vs. SMH — Risk / Return Rank

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

SMH

SMH Risk / Return Rank: 95
SMH Sharpe Ratio Rank: 94
SMH Sortino Ratio Rank: 94
SMH Omega Ratio Rank: 93
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 97

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. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defence Tech Index ETF (SHLD.TO) and VanEck Semiconductor ETF (SMH). 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	SMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.08	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.86	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.92	1.00	+0.92

Correlation

The correlation between SHLD.TO and SMH is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SHLD.TO vs. SMH - Dividend Comparison

SHLD.TO's dividend yield for the trailing twelve months is around 0.16%, less than SMH's 0.29% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHLD.TO Global X Defence Tech Index ETF	0.16%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SMH VanEck Semiconductor ETF	0.29%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

Drawdowns

SHLD.TO vs. SMH - Drawdown Comparison

The maximum SHLD.TO drawdown since its inception was -14.91%, smaller than the maximum SMH drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for SHLD.TO and SMH.

Drawdown Indicators

	SHLD.TO	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-14.91%	-84.96%	+70.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.30%	—
Current Drawdown Current decline from peak	-11.30%	-10.03%	-1.27%
Average Drawdown Average peak-to-trough decline	-4.47%	-41.36%	+36.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.44%	—

Volatility

Volatility by Period

	SHLD.TO	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.85%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.64%	36.59%	-11.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.64%	33.11%	-8.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.64%	30.79%	-6.15%