SHLD vs. CHAT

Last updated Jul 22, 2026

SHLD (Global X Defense Tech ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both exchange-traded funds - SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index, while CHAT is a Technology Equities fund actively managed by Roundhill. SHLD is passively managed, while CHAT is actively managed. Over the past year, SHLD returned -1.36% vs 76.67% for CHAT. At a 0.34 correlation, their price movements are largely independent. SHLD charges 0.50%/yr vs 0.75%/yr for CHAT.

Performance

SHLD vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Defense Tech ETF (SHLD) and Roundhill Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHLD achieves a -6.71% return, which is significantly lower than CHAT's 47.03% return.

SHLD

• 1D: 0.37%
• 1M: -2.98%
• 6M: -21.51%
• YTD: -6.71%
• 1Y: -1.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 37.43%

CHAT

• 1D: 5.60%
• 1M: -15.29%
• 6M: 45.45%
• YTD: 47.03%
• 1Y: 76.67%
• 3Y*: 45.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 48.27%

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

SHLD vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHLD Global X Defense Tech ETF	-6.71%	74.16%	35.03%	12.89%
CHAT Roundhill Generative AI & Technology ETF	47.03%	49.85%	30.98%	9.93%

Correlation

The correlation between SHLD and CHAT is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.34

SHLD vs. CHAT - Sectors Allocation Comparison

Sectors	SHLD	CHAT
Industrials	88.4%	3.6%
Technology	11.6%	78.9%
Basic Materials	-	-
Communication Services	-	15.2%
Consumer Cyclical	-	2.3%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SHLD vs. CHAT — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 10
SHLD Sharpe Ratio Rank: 10
SHLD Sortino Ratio Rank: 10
SHLD Omega Ratio Rank: 10
SHLD Calmar Ratio Rank: 10
SHLD Martin Ratio Rank: 10

CHAT

CHAT Risk / Return Rank: 80
CHAT Sharpe Ratio Rank: 85
CHAT Sortino Ratio Rank: 72
CHAT Omega Ratio Rank: 75
CHAT Calmar Ratio Rank: 87
CHAT Martin Ratio Rank: 79

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 vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and Roundhill Generative AI & Technology ETF (CHAT). 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	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	2.05	-2.11
Sortino ratio: Return per unit of downside risk	0.10	2.45	-2.34
Omega ratio: Gain probability vs. loss probability	1.01	1.33	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.05	3.62	-3.68
Martin ratio: Return relative to average drawdown	-0.13	10.98	-11.11

SHLD vs. CHAT - Sharpe Ratio Comparison

The current SHLD Sharpe Ratio is -0.05, which is lower than the CHAT Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SHLD and CHAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SHLD vs. CHAT - Drawdown Comparison

The maximum SHLD drawdown since its inception was -25.40%, smaller than the maximum CHAT drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for SHLD and CHAT.

Drawdown Indicators

	SHLD	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-25.40%	-31.34%	+5.94%
Max Drawdown (1Y) Largest decline over 1 year	-25.40%	-21.26%	-4.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.34%	—
Current Drawdown Current decline from peak	-22.53%	-16.70%	-5.83%
Average Drawdown Average peak-to-trough decline	-3.98%	-5.57%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.59%	7.01%	+3.58%

Volatility

SHLD vs. CHAT - Volatility Comparison

The current volatility for Global X Defense Tech ETF (SHLD) is 7.92%, while Roundhill Generative AI & Technology ETF (CHAT) has a volatility of 16.70%. This indicates that SHLD experiences smaller price fluctuations and is considered to be less risky than CHAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLD	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	16.70%	-8.78%
Volatility (6M) Calculated over the trailing 6-month period	19.75%	32.87%	-13.12%
Volatility (1Y) Calculated over the trailing 1-year period	25.08%	37.57%	-12.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.49%	31.94%	-10.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.49%	31.94%	-10.45%

SHLD vs. CHAT - Expense Ratio Comparison

SHLD has a 0.50% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

SHLD vs. CHAT - Dividend Comparison

SHLD's dividend yield for the trailing twelve months is around 0.70%, less than CHAT's 1.94% yield.

Position	TTM	2025	2024	2023
CHAT Roundhill Generative AI & Technology ETF	1.94%	2.85%	0.00%	0.00%
SHLD Global X Defense Tech ETF	0.70%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both SHLD and CHAT in my portfolio?

SHLD and CHAT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHLD or CHAT?

CHAT has higher volatility (16.70%) compared to SHLD (7.92%). In terms of maximum drawdown, SHLD dropped -25.40% vs CHAT's -31.34%.

Which ETF is better, SHLD or CHAT?

On 1-year performance, CHAT leads with 76.67% vs -1.36% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 7.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHLD or CHAT?

Over the 1-year period, CHAT has performed better with a 76.67% return vs -1.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHLD or CHAT?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.75% for CHAT.

Which ETF pays a higher dividend yield, SHLD or CHAT?

CHAT has the higher dividend yield at 1.94%, compared with 0.70% for SHLD.

What is the main difference between SHLD and CHAT?

SHLD is categorized as Aerospace & Defense, while CHAT is Technology Equities. They also come from different issuers: Global X and Roundhill. Their fees differ too: 0.50% for SHLD and 0.75% for CHAT.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (2.05 vs -0.05), 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.