SHLD vs. SKYW
SHLD (Global X Defense Tech ETF) is Aerospace & Defense fund tracking the Global X Defense Tech Index, while SKYW (SkyWest, Inc.) is a stock. Over the past year, SHLD returned 8.26% vs -4.24% for SKYW. At a 0.32 correlation, their price movements are largely independent.
Performance
SHLD vs. SKYW - 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 SKYW's -8.63% return.
SHLD
- 1D
- -2.04%
- 1M
- 2.37%
- YTD
- -1.50%
- 6M
- -1.03%
- 1Y
- 8.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SKYW
- 1D
- 2.27%
- 1M
- 12.92%
- YTD
- -8.63%
- 6M
- -13.32%
- 1Y
- -4.24%
- 3Y*
- 34.96%
- 5Y*
- 13.58%
- 10Y*
- 14.74%
SHLD vs. SKYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHLD Global X Defense Tech ETF | -1.50% | 74.16% | 35.03% | 12.89% |
SKYW SkyWest, Inc. | -8.63% | 0.28% | 91.82% | 20.64% |
Correlation
The correlation between SHLD and SKYW is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | 0.32 |
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Return for Risk
SHLD vs. SKYW — Risk / Return Rank
SHLD
SKYW
SHLD vs. SKYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and SkyWest, Inc. (SKYW). 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 | SKYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.00 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | -0.20 | +0.72 |
| Martin ratioReturn relative to average drawdown | 1.28 | -0.37 | +1.65 |
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Drawdowns
SHLD vs. SKYW - Drawdown Comparison
The maximum SHLD drawdown since its inception was -20.10%, smaller than the maximum SKYW drawdown of -81.77%. Use the drawdown chart below to compare losses from any high point for SHLD and SKYW.
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Drawdown Indicators
| SHLD | SKYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.10% | -81.77% | +61.67% |
Max Drawdown (1Y)Largest decline over 1 year | -20.10% | -36.63% | +16.53% |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.63% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -71.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.77% | — |
Current DrawdownCurrent decline from peak | -18.20% | -25.84% | +7.64% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -35.43% | +32.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.12% | 19.82% | -11.70% |
Volatility
SHLD vs. SKYW - Volatility Comparison
The current volatility for Global X Defense Tech ETF (SHLD) is 9.05%, while SkyWest, Inc. (SKYW) has a volatility of 13.26%. This indicates that SHLD experiences smaller price fluctuations and is considered to be less risky than SKYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHLD | SKYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.05% | 13.26% | -4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 19.94% | 28.02% | -8.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.55% | 37.10% | -12.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.29% | 43.64% | -22.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.29% | 51.48% | -30.19% |
Dividends
SHLD vs. SKYW - Dividend Comparison
SHLD's dividend yield for the trailing twelve months is around 0.56%, while SKYW has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SKYW SkyWest, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.35% | 0.74% | 0.90% | 0.60% | 0.52% | 0.84% |
Frequently Asked Questions
SHLD and SKYW have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKYW has higher volatility (13.26%) compared to SHLD (9.05%). In terms of maximum drawdown, SHLD dropped -20.10% vs SKYW's -81.77%.
SHLD currently has the higher Sharpe Ratio (0.43 vs -0.20), 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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