SHLD vs. PPA
Compare and contrast key facts about Global X Defense Tech ETF (SHLD) and Invesco Aerospace & Defense ETF (PPA).
SHLD and PPA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHLD is a passively managed fund by Global X that tracks the performance of the Global X Defense Tech Index - Benchmark TR Net. It was launched on Sep 11, 2023. PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005. Both SHLD and PPA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHLD or PPA.
Key characteristics
| SHLD | PPA | |
|---|---|---|
| YTD Return | 46.91% | 33.93% |
| 1Y Return | 51.93% | 43.03% |
| Sharpe Ratio | 3.81 | 3.28 |
| Sortino Ratio | 5.03 | 4.43 |
| Omega Ratio | 1.68 | 1.59 |
| Calmar Ratio | 10.69 | 8.05 |
| Martin Ratio | 34.49 | 27.20 |
| Ulcer Index | 1.54% | 1.65% |
| Daily Std Dev | 13.91% | 13.66% |
| Max Drawdown | -5.42% | -57.37% |
| Current Drawdown | -1.52% | -1.22% |
Correlation
The correlation between SHLD and PPA is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SHLD vs. PPA - Performance Comparison
In the year-to-date period, SHLD achieves a 46.91% return, which is significantly higher than PPA's 33.93% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SHLD vs. PPA - Expense Ratio Comparison
SHLD has a 0.50% expense ratio, which is lower than PPA's 0.61% expense ratio.
Risk-Adjusted Performance
SHLD vs. PPA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and Invesco Aerospace & Defense ETF (PPA). 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.
Dividends
SHLD vs. PPA - Dividend Comparison
SHLD's dividend yield for the trailing twelve months is around 0.32%, less than PPA's 0.53% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHLD Global X Defense Tech ETF | 0.32% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PPA Invesco Aerospace & Defense ETF | 0.53% | 0.67% | 0.83% | 0.59% | 0.88% | 0.95% | 0.90% | 0.67% | 1.70% | 1.41% | 0.62% | 1.26% |
Drawdowns
SHLD vs. PPA - Drawdown Comparison
The maximum SHLD drawdown since its inception was -5.42%, smaller than the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for SHLD and PPA. For additional features, visit the drawdowns tool.
Volatility
SHLD vs. PPA - Volatility Comparison
Global X Defense Tech ETF (SHLD) has a higher volatility of 6.17% compared to Invesco Aerospace & Defense ETF (PPA) at 5.79%. This indicates that SHLD's price experiences larger fluctuations and is considered to be riskier than PPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.