SHLD vs. JPYUSD=X

Last updated Jun 14, 2026

SHLD (Global X Defense Tech ETF) is Aerospace & Defense fund tracking the Global X Defense Tech Index, while JPYUSD=X (JPY/USD) is a currency. Over the past year, SHLD returned 8.26% vs -9.99% for JPYUSD=X. At a 0.06 correlation, their price movements are largely independent.

Performance

SHLD vs. JPYUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Defense Tech ETF (SHLD) and JPY/USD (JPYUSD=X). 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 higher than JPYUSD=X's -2.12% return.

SHLD

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

JPYUSD=X

• 1D: 0.10%
• 1M: -0.82%
• YTD: -2.12%
• 6M: -3.07%
• 1Y: -9.99%
• 3Y*: -4.30%
• 5Y*: -7.22%
• 10Y*: -4.19%

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

SHLD vs. JPYUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%
JPYUSD=X JPY/USD	-2.12%	0.33%	-10.26%	4.28%

Correlation

The correlation between SHLD and JPYUSD=X is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.06

Return for Risk

SHLD vs. JPYUSD=X — 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

JPYUSD=X

JPYUSD=X Risk / Return Rank: 8
JPYUSD=X Sharpe Ratio Rank: 8
JPYUSD=X Sortino Ratio Rank: 8
JPYUSD=X Omega Ratio Rank: 8
JPYUSD=X Calmar Ratio Rank: 3
JPYUSD=X Martin Ratio Rank: 14

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. JPYUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and JPY/USD (JPYUSD=X). 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	JPYUSD=X	Difference
Sharpe ratio: Return per unit of total volatility	0.43	-1.09	+1.51
Sortino ratio: Return per unit of downside risk	0.78	-1.60	+2.38
Omega ratio: Gain probability vs. loss probability	1.09	0.82	+0.26
Calmar ratio: Return relative to maximum drawdown	0.52	-0.76	+1.28
Martin ratio: Return relative to average drawdown	1.28	-1.11	+2.40

SHLD vs. JPYUSD=X - Sharpe Ratio Comparison

The current SHLD Sharpe Ratio is 0.43, which is higher than the JPYUSD=X Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of SHLD and JPYUSD=X, 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. JPYUSD=X - Drawdown Comparison

The maximum SHLD drawdown since its inception was -20.10%, smaller than the maximum JPYUSD=X drawdown of -52.96%. Use the drawdown chart below to compare losses from any high point for SHLD and JPYUSD=X.

Drawdown Indicators

	SHLD	JPYUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	-52.96%	+32.86%
Max Drawdown (1Y) Largest decline over 1 year	-20.10%	-10.68%	-9.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.63%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.21%	—
Current Drawdown Current decline from peak	-18.20%	-52.47%	+34.27%
Average Drawdown Average peak-to-trough decline	-3.34%	-26.92%	+23.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.12%	6.18%	+1.94%

Volatility

SHLD vs. JPYUSD=X - Volatility Comparison

Global X Defense Tech ETF (SHLD) has a higher volatility of 9.05% compared to JPY/USD (JPYUSD=X) at 0.69%. This indicates that SHLD's price experiences larger fluctuations and is considered to be riskier than JPYUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLD	JPYUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	0.69%	+8.36%
Volatility (6M) Calculated over the trailing 6-month period	19.94%	5.48%	+14.46%
Volatility (1Y) Calculated over the trailing 1-year period	24.55%	7.50%	+17.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.29%	9.56%	+11.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	8.90%	+12.39%

Frequently Asked Questions

Can I hold both SHLD and JPYUSD=X in my portfolio?

SHLD and JPYUSD=X have a correlation of 0.13, 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 JPYUSD=X?

SHLD has higher volatility (9.05%) compared to JPYUSD=X (0.69%). In terms of maximum drawdown, SHLD dropped -20.10% vs JPYUSD=X's -52.96%.

Which has better risk-adjusted returns?

SHLD currently has the higher Sharpe Ratio (0.43 vs -1.09), 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.