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 10.40% vs -15.08% for CEG. At a 0.30 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 -1.50% return, which is significantly higher than CEG's -27.96% return.
SHLD
- 1D
- -2.04%
- 1M
- 0.05%
- YTD
- -1.50%
- 6M
- -1.03%
- 1Y
- 10.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEG
- 1D
- 2.86%
- 1M
- -7.54%
- YTD
- -27.96%
- 6M
- -27.70%
- 1Y
- -15.08%
- 3Y*
- 40.06%
- 5Y*
- —
- 10Y*
- —
SHLD vs. CEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHLD Global X Defense Tech ETF | -1.50% | 74.16% | 35.03% | 12.89% |
CEG Constellation Energy Corp | -27.96% | 58.80% | 92.71% | 7.98% |
Correlation
The correlation between SHLD and CEG is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.30 |
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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 | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.98 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | -0.38 | +0.90 |
| Martin ratioReturn relative to average drawdown | 1.28 | -0.78 | +2.06 |
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Drawdowns
SHLD vs. CEG - Drawdown Comparison
The maximum SHLD drawdown since its inception was -20.10%, 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 | -20.10% | -50.70% | +30.60% |
Max Drawdown (1Y)Largest decline over 1 year | -20.10% | -39.77% | +19.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.70% | — |
Current DrawdownCurrent decline from peak | -18.20% | -36.93% | +18.73% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -11.67% | +8.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.12% | 19.38% | -11.26% |
Volatility
SHLD vs. CEG - Volatility Comparison
The current volatility for Global X Defense Tech ETF (SHLD) is 9.05%, while Constellation Energy Corp (CEG) has a volatility of 15.26%. 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 | 9.05% | 15.26% | -6.21% |
Volatility (6M)Calculated over the trailing 6-month period | 19.94% | 37.72% | -17.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.55% | 46.66% | -22.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.29% | 49.38% | -28.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.29% | 49.38% | -28.09% |
Dividends
SHLD vs. CEG - Dividend Comparison
SHLD's dividend yield for the trailing twelve months is around 0.56%, less 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 | 0.56% | 0.55% | 0.53% | 0.26% | 0.00% |
Frequently Asked Questions
SHLD and CEG have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEG has higher volatility (15.26%) compared to SHLD (9.05%). In terms of maximum drawdown, SHLD dropped -20.10% vs CEG's -50.70%.
SHLD currently has the higher Sharpe Ratio (0.43 vs -0.32), 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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