SHLD vs. SHLD.TO

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Defense Tech ETF (SHLD) and Global X Defence Tech Index ETF (SHLD.TO).

SHLD and SHLD.TO 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. SHLD.TO is a passively managed fund by Global X that tracks the performance of the Global X Defense Tech Index. It was launched on Apr 21, 2025. Both SHLD and SHLD.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SHLD vs. SHLD.TO - Performance Comparison

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

SHLD vs. SHLD.TO - Yearly Performance Comparison

	2026 (YTD)	2025
SHLD Global X Defense Tech ETF	13.41%	25.66%
SHLD.TO Global X Defence Tech Index ETF	13.32%	28.76%

Different Trading Currencies

SHLD is traded in USD, while SHLD.TO is traded in CAD. To make them comparable, the SHLD.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with SHLD having a 13.41% return and SHLD.TO slightly lower at 13.32%.

SHLD

• 1D: 3.73%
• 1M: -4.67%
• YTD: 13.41%
• 6M: 5.02%
• 1Y: 56.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD.TO

• 1D: 3.35%
• 1M: -4.61%
• YTD: 13.32%
• 6M: 4.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHLD vs. SHLD.TO - Expense Ratio Comparison

Both SHLD and SHLD.TO have an expense ratio of 0.50%.

SHLD

Global X Defense Tech ETF

SHLD.TO

Global X Defence Tech Index ETF

Return for Risk

SHLD vs. SHLD.TO — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 92
SHLD Sharpe Ratio Rank: 93
SHLD Sortino Ratio Rank: 93
SHLD Omega Ratio Rank: 89
SHLD Calmar Ratio Rank: 94
SHLD Martin Ratio Rank: 88

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. SHLD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and Global X Defence Tech Index ETF (SHLD.TO). 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.

	SHLD	SHLD.TO	Difference
Sharpe ratio Return per unit of total volatility	2.22	—	—
Sortino ratio Return per unit of downside risk	2.89	—	—
Omega ratio Gain probability vs. loss probability	1.38	—	—
Calmar ratio Return relative to maximum drawdown	3.90	—	—
Martin ratio Return relative to average drawdown	11.34	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SHLD	SHLD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.62	2.02	+0.60

Correlation

The correlation between SHLD and SHLD.TO is 0.96, 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.

Dividends

SHLD vs. SHLD.TO - Dividend Comparison

SHLD's dividend yield for the trailing twelve months is around 0.48%, more than SHLD.TO's 0.16% yield.

	TTM	2025	2024	2023
SHLD Global X Defense Tech ETF	0.48%	0.55%	0.53%	0.26%
SHLD.TO Global X Defence Tech Index ETF	0.16%	0.18%	0.00%	0.00%

Drawdowns

SHLD vs. SHLD.TO - Drawdown Comparison

The maximum SHLD drawdown since its inception was -15.06%, roughly equal to the maximum SHLD.TO drawdown of -15.18%. Use the drawdown chart below to compare losses from any high point for SHLD and SHLD.TO.

Drawdown Indicators

	SHLD	SHLD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.06%	-14.91%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-15.06%	—	—
Current Drawdown Current decline from peak	-5.82%	-8.43%	+2.61%
Average Drawdown Average peak-to-trough decline	-2.58%	-4.49%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	—	—

Volatility

Volatility by Period

	SHLD	SHLD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.64%	25.34%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.81%	25.34%	-4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.81%	25.34%	-4.53%