SHLD vs. MAIN
SHLD (Global X Defense Tech ETF) is Aerospace & Defense fund tracking the Global X Defense Tech Index, while MAIN (Main Street Capital Corporation) is a stock. Over the past year, SHLD returned 8.26% vs -3.16% for MAIN. At a 0.33 correlation, their price movements are largely independent.
Performance
SHLD vs. MAIN - 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 MAIN's -10.97% return.
SHLD
- 1D
- -2.04%
- 1M
- -0.44%
- YTD
- -1.50%
- 6M
- -1.03%
- 1Y
- 8.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MAIN
- 1D
- 0.54%
- 1M
- 3.14%
- YTD
- -10.97%
- 6M
- -12.92%
- 1Y
- -3.16%
- 3Y*
- 18.74%
- 5Y*
- 12.76%
- 10Y*
- 13.19%
SHLD vs. MAIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHLD Global X Defense Tech ETF | -1.50% | 74.16% | 35.03% | 12.89% |
MAIN Main Street Capital Corporation | -10.97% | 10.74% | 47.30% | 9.63% |
Correlation
The correlation between SHLD and MAIN is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.33 |
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Return for Risk
SHLD vs. MAIN — Risk / Return Rank
SHLD
MAIN
SHLD vs. MAIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and Main Street Capital Corporation (MAIN). 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 | MAIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.99 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | -0.18 | +0.70 |
| Martin ratioReturn relative to average drawdown | 1.28 | -0.35 | +1.64 |
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Drawdowns
SHLD vs. MAIN - Drawdown Comparison
The maximum SHLD drawdown since its inception was -20.10%, smaller than the maximum MAIN drawdown of -64.53%. Use the drawdown chart below to compare losses from any high point for SHLD and MAIN.
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Drawdown Indicators
| SHLD | MAIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.10% | -64.53% | +44.43% |
Max Drawdown (1Y)Largest decline over 1 year | -20.10% | -22.43% | +2.33% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.06% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.53% | — |
Current DrawdownCurrent decline from peak | -18.20% | -18.28% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -7.31% | +3.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.12% | 11.18% | -3.06% |
Volatility
SHLD vs. MAIN - Volatility Comparison
Global X Defense Tech ETF (SHLD) has a higher volatility of 9.05% compared to Main Street Capital Corporation (MAIN) at 5.82%. This indicates that SHLD's price experiences larger fluctuations and is considered to be riskier than MAIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHLD | MAIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.05% | 5.82% | +3.23% |
Volatility (6M)Calculated over the trailing 6-month period | 19.94% | 20.12% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.55% | 24.84% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.29% | 21.57% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.29% | 27.30% | -6.01% |
Dividends
SHLD vs. MAIN - Dividend Comparison
SHLD's dividend yield for the trailing twelve months is around 0.56%, less than MAIN's 8.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAIN Main Street Capital Corporation | 8.25% | 7.00% | 7.02% | 8.55% | 7.97% | 5.74% | 6.99% | 6.76% | 8.43% | 7.49% | 7.42% | 9.15% |
SHLD Global X Defense Tech ETF | 0.56% | 0.55% | 0.53% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHLD and MAIN have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHLD has higher volatility (9.05%) compared to MAIN (5.82%). In terms of maximum drawdown, SHLD dropped -20.10% vs MAIN's -64.53%.
SHLD currently has the higher Sharpe Ratio (0.43 vs -0.16), 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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