SHLD vs. IBAT

Last updated Jun 14, 2026

SHLD (Global X Defense Tech ETF) and IBAT (iShares Energy Storage & Materials ETF) are both exchange-traded funds - SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index, while IBAT is a Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials. Both are passively managed. Over the past year, SHLD returned 8.26% vs 105.19% for IBAT. At a 0.35 correlation, their price movements are largely independent. SHLD charges 0.50%/yr vs 0.47%/yr for IBAT.

Performance

SHLD vs. IBAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Defense Tech ETF (SHLD) and iShares Energy Storage & Materials ETF (IBAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHLD achieves a -1.50% return, which is significantly lower than IBAT's 51.63% return.

SHLD

• 1D: -2.04%
• 1M: -0.44%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBAT

• 1D: 1.07%
• 1M: -4.06%
• YTD: 51.63%
• 6M: 46.54%
• 1Y: 105.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHLD vs. IBAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SHLD Global X Defense Tech ETF	-1.50%	74.16%	15.42%
IBAT iShares Energy Storage & Materials ETF	51.63%	32.09%	-13.29%

Correlation

The correlation between SHLD and IBAT is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.35

SHLD vs. IBAT - Sectors Allocation Comparison

Sectors	SHLD	IBAT
Industrials	87.8%	40.2%
Technology	12.2%	23.7%
Basic Materials	-	30.8%
Communication Services	-	-
Consumer Cyclical	-	1.8%
Consumer Defensive	-	-
Energy	-	3.0%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	0.5%

Return for Risk

SHLD vs. IBAT — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 16
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

IBAT

IBAT Risk / Return Rank: 94
IBAT Sharpe Ratio Rank: 96
IBAT Sortino Ratio Rank: 92
IBAT Omega Ratio Rank: 92
IBAT Calmar Ratio Rank: 96
IBAT Martin Ratio Rank: 93

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. IBAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and iShares Energy Storage & Materials ETF (IBAT). 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	IBAT	Difference
Sharpe ratio: Return per unit of total volatility	0.43	3.63	-3.20
Sortino ratio: Return per unit of downside risk	0.78	3.98	-3.20
Omega ratio: Gain probability vs. loss probability	1.09	1.54	-0.45
Calmar ratio: Return relative to maximum drawdown	0.52	7.45	-6.93
Martin ratio: Return relative to average drawdown	1.28	20.84	-19.55

SHLD vs. IBAT - Sharpe Ratio Comparison

The current SHLD Sharpe Ratio is 0.43, which is lower than the IBAT Sharpe Ratio of 3.63. The chart below compares the historical Sharpe Ratios of SHLD and IBAT, 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. IBAT - Drawdown Comparison

The maximum SHLD drawdown since its inception was -20.10%, smaller than the maximum IBAT drawdown of -28.26%. Use the drawdown chart below to compare losses from any high point for SHLD and IBAT.

Drawdown Indicators

	SHLD	IBAT	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	-28.26%	+8.16%
Max Drawdown (1Y) Largest decline over 1 year	-20.10%	-13.71%	-6.39%
Current Drawdown Current decline from peak	-18.20%	-8.98%	-9.22%
Average Drawdown Average peak-to-trough decline	-3.34%	-7.74%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.12%	4.90%	+3.22%

Volatility

SHLD vs. IBAT - Volatility Comparison

The current volatility for Global X Defense Tech ETF (SHLD) is 9.05%, while iShares Energy Storage & Materials ETF (IBAT) has a volatility of 13.41%. This indicates that SHLD experiences smaller price fluctuations and is considered to be less risky than IBAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLD	IBAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	13.41%	-4.36%
Volatility (6M) Calculated over the trailing 6-month period	19.94%	22.68%	-2.74%
Volatility (1Y) Calculated over the trailing 1-year period	24.55%	28.18%	-3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.29%	24.58%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	24.58%	-3.29%

SHLD vs. IBAT - Expense Ratio Comparison

SHLD has a 0.50% expense ratio, which is higher than IBAT's 0.47% expense ratio.

Dividends

SHLD vs. IBAT - Dividend Comparison

SHLD's dividend yield for the trailing twelve months is around 0.56%, less than IBAT's 0.76% yield.

Position	TTM	2025	2024	2023
IBAT iShares Energy Storage & Materials ETF	0.76%	1.15%	1.37%	0.00%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both SHLD and IBAT in my portfolio?

SHLD and IBAT have a correlation of 0.35, 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 IBAT?

IBAT has higher volatility (13.41%) compared to SHLD (9.05%). In terms of maximum drawdown, SHLD dropped -20.10% vs IBAT's -28.26%.

Which ETF is better, SHLD or IBAT?

On 1-year performance, IBAT leads with 105.19% vs 8.26% for SHLD. On fees, IBAT is cheaper at 0.47% per year. On volatility, SHLD has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHLD or IBAT?

Over the 1-year period, IBAT has performed better with a 105.19% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHLD or IBAT?

IBAT is cheaper with a 0.47% expense ratio, compared with 0.50% for SHLD.

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

IBAT has the higher dividend yield at 0.76%, compared with 0.56% for SHLD.

What is the main difference between SHLD and IBAT?

SHLD is categorized as Aerospace & Defense, while IBAT is Alternative Energy Equities. SHLD tracks Global X Defense Tech Index, while IBAT tracks STOXX Global Energy Storage and Materials. They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for SHLD and 0.47% for IBAT.

Which has better risk-adjusted returns?

IBAT currently has the higher Sharpe Ratio (3.63 vs 0.43), 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.