SHLD vs. NGD

Last updated Jun 14, 2026

SHLD (Global X Defense Tech ETF) is Aerospace & Defense fund tracking the Global X Defense Tech Index, while NGD (New Gold Inc.) is a stock. At a 0.25 correlation, their price movements are largely independent.

Performance

SHLD vs. NGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Defense Tech ETF (SHLD) and New Gold Inc. (NGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SHLD

• 1D: -2.04%
• 1M: 2.37%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHLD vs. NGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%
NGD New Gold Inc.	4.25%	251.21%	69.86%	46.35%

Correlation

The correlation between SHLD and NGD 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	0.25

Return for Risk

SHLD vs. NGD — 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

NGD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. NGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and New Gold Inc. (NGD). 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	NGD	Difference
Sharpe ratio: Return per unit of total volatility	0.43	—	—
Sortino ratio: Return per unit of downside risk	0.78	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.52	—	—
Martin ratio: Return relative to average drawdown	1.28	—	—

Drawdowns

Drawdown Indicators

	SHLD	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-20.10%	—	—
Current Drawdown Current decline from peak	-18.20%	—	—
Average Drawdown Average peak-to-trough decline	-3.34%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	8.12%	—	—

Volatility

Volatility by Period

	SHLD	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.55%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.29%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	—	—

Dividends

SHLD vs. NGD - Dividend Comparison

SHLD's dividend yield for the trailing twelve months is around 0.56%, while NGD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
NGD New Gold Inc.	0.00%	0.00%	0.00%	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 NGD in my portfolio?

SHLD and NGD 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.