SHLD.TO vs. USCL.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Defence Tech Index ETF (SHLD.TO) and Global X Enhanced S&P 500 Covered Call ETF (USCL.TO).

SHLD.TO and USCL.TO 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. USCL.TO is an actively managed fund by Global X. It was launched on Jul 5, 2023.

Performance

SHLD.TO vs. USCL.TO - 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 Global X Enhanced S&P 500 Covered Call ETF (USCL.TO). The values are adjusted to include any dividend payments, if applicable.

SHLD.TO vs. USCL.TO - Yearly Performance Comparison

	2026 (YTD)	2025
SHLD.TO Global X Defence Tech Index ETF	11.06%	28.13%
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	-5.43%	23.38%

Returns By Period

In the year-to-date period, SHLD.TO achieves a 11.06% return, which is significantly higher than USCL.TO's -5.43% return.

SHLD.TO

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

USCL.TO

• 1D: 0.00%
• 1M: -6.20%
• YTD: -5.43%
• 6M: -3.57%
• 1Y: 8.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHLD.TO vs. USCL.TO - Expense Ratio Comparison

SHLD.TO has a 0.50% expense ratio, which is higher than USCL.TO's 0.04% expense ratio.

SHLD.TO

Global X Defence Tech Index ETF

USCL.TO

Global X Enhanced S&P 500 Covered Call ETF

Return for Risk

SHLD.TO vs. USCL.TO — Risk / Return Rank

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

USCL.TO

USCL.TO Risk / Return Rank: 30
USCL.TO Sharpe Ratio Rank: 27
USCL.TO Sortino Ratio Rank: 28
USCL.TO Omega Ratio Rank: 32
USCL.TO Calmar Ratio Rank: 30
USCL.TO Martin Ratio Rank: 33

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. USCL.TO - 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 Enhanced S&P 500 Covered Call ETF (USCL.TO). 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	USCL.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.92	1.04	+0.88

Correlation

The correlation between SHLD.TO and USCL.TO is 0.32, 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. USCL.TO - Dividend Comparison

SHLD.TO's dividend yield for the trailing twelve months is around 0.16%, less than USCL.TO's 13.76% yield.

	TTM	2025	2024	2023
SHLD.TO Global X Defence Tech Index ETF	0.16%	0.18%	0.00%	0.00%
USCL.TO Global X Enhanced S&P 500 Covered Call ETF	13.76%	12.94%	11.57%	7.08%

Drawdowns

SHLD.TO vs. USCL.TO - Drawdown Comparison

The maximum SHLD.TO drawdown since its inception was -14.91%, smaller than the maximum USCL.TO drawdown of -21.85%. Use the drawdown chart below to compare losses from any high point for SHLD.TO and USCL.TO.

Drawdown Indicators

	SHLD.TO	USCL.TO	Difference
Max Drawdown Largest peak-to-trough decline	-14.91%	-21.85%	+6.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.94%	—
Current Drawdown Current decline from peak	-11.30%	-8.56%	-2.74%
Average Drawdown Average peak-to-trough decline	-4.47%	-2.66%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.63%	—

Volatility

Volatility by Period

	SHLD.TO	USCL.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.64%	20.04%	+4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.64%	15.62%	+9.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.64%	15.62%	+9.02%