SHLD vs. CEG
SHLD (Global X Defense Tech ETF) is Aerospace & Defense fund tracking the Global X Defense Tech Index, while CEG (Constellation Energy Corp) is a stock. Over the past year, SHLD returned -2.37% vs -20.72% for CEG. At a 0.28 correlation, their price movements are largely independent.
Performance
SHLD vs. CEG - Performance Comparison
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Returns By Period
In the year-to-date period, SHLD achieves a -7.05% return, which is significantly higher than CEG's -28.03% return.
SHLD
- 1D
- -0.05%
- 1M
- -3.33%
- 6M
- -22.70%
- YTD
- -7.05%
- 1Y
- -2.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 37.29%
CEG
- 1D
- 0.44%
- 1M
- -7.50%
- 6M
- -17.38%
- YTD
- -28.03%
- 1Y
- -20.72%
- 3Y*
- 38.87%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 45.07%
SHLD vs. CEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHLD Global X Defense Tech ETF | -7.05% | 74.16% | 35.03% | 12.89% |
CEG Constellation Energy Corp | -28.03% | 58.80% | 92.71% | 7.98% |
Correlation
The correlation between SHLD and CEG is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.28 |
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Return for Risk
SHLD vs. CEG — Risk / Return Rank
SHLD
CEG
SHLD vs. CEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and Constellation Energy Corp (CEG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHLD | CEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.96 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | -0.50 | +0.41 |
| Martin ratioReturn relative to average drawdown | -0.23 | -0.93 | +0.70 |
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Drawdowns
SHLD vs. CEG - Drawdown Comparison
The maximum SHLD drawdown since its inception was -25.40%, smaller than the maximum CEG drawdown of -50.70%. Use the drawdown chart below to compare losses from any high point for SHLD and CEG.
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Drawdown Indicators
| SHLD | CEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.40% | -50.70% | +25.30% |
Max Drawdown (1Y)Largest decline over 1 year | -25.40% | -41.22% | +15.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.70% | — |
Current DrawdownCurrent decline from peak | -22.81% | -36.99% | +14.18% |
Average DrawdownAverage peak-to-trough decline | -3.95% | -12.19% | +8.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.49% | 22.36% | -11.87% |
Volatility
SHLD vs. CEG - Volatility Comparison
The current volatility for Global X Defense Tech ETF (SHLD) is 8.21%, while Constellation Energy Corp (CEG) has a volatility of 10.11%. This indicates that SHLD experiences smaller price fluctuations and is considered to be less risky than CEG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHLD | CEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.21% | 10.11% | -1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 19.76% | 35.36% | -15.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.13% | 46.62% | -21.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.51% | 49.11% | -27.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.51% | 49.11% | -27.60% |
Dividends
SHLD vs. CEG - Dividend Comparison
SHLD's dividend yield for the trailing twelve months is around 0.71%, more than CEG's 0.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.64% | 0.44% | 0.63% | 0.97% | 0.65% |
SHLD Global X Defense Tech ETF | 0.71% | 0.55% | 0.53% | 0.26% | 0.00% |
Frequently Asked Questions
SHLD and CEG have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEG has higher volatility (10.11%) compared to SHLD (8.21%). In terms of maximum drawdown, SHLD dropped -25.40% vs CEG's -50.70%.
SHLD currently has the higher Sharpe Ratio (-0.10 vs -0.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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