SHLD vs. SLV

Last updated Jun 9, 2026

SHLD (Global X Defense Tech ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past year, SHLD returned 8.97% vs 88.38% for SLV. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

SHLD vs. SLV - Performance Comparison

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

Returns By Period

In the year-to-date period, SHLD achieves a -2.65% return, which is significantly higher than SLV's -4.41% return.

SHLD

• 1D: 0.03%
• 1M: -3.34%
• YTD: -2.65%
• 6M: -0.77%
• 1Y: 8.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SLV

• 1D: 0.02%
• 1M: -15.66%
• YTD: -4.41%
• 6M: 16.83%
• 1Y: 88.38%
• 3Y*: 40.36%
• 5Y*: 19.02%
• 10Y*: 14.08%

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

SHLD vs. SLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHLD Global X Defense Tech ETF	-2.65%	74.16%	35.03%	12.89%
SLV iShares Silver Trust	-4.41%	144.66%	20.89%	4.06%

Correlation

The correlation between SHLD and SLV is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.21

SHLD vs. SLV - Sectors Allocation Comparison

Sectors	SHLD	SLV
Industrials	88.2%	-
Technology	11.8%	-
Basic Materials	-	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SHLD vs. SLV — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 15
SHLD Sharpe Ratio Rank: 15
SHLD Sortino Ratio Rank: 16
SHLD Omega Ratio Rank: 15
SHLD Calmar Ratio Rank: 15
SHLD Martin Ratio Rank: 15

SLV

SLV Risk / Return Rank: 43
SLV Sharpe Ratio Rank: 47
SLV Sortino Ratio Rank: 38
SLV Omega Ratio Rank: 54
SLV Calmar Ratio Rank: 47
SLV Martin Ratio Rank: 32

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. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and iShares Silver Trust (SLV). 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	SLV	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.50	-1.12
Sortino ratio: Return per unit of downside risk	0.70	1.80	-1.10
Omega ratio: Gain probability vs. loss probability	1.08	1.30	-0.22
Calmar ratio: Return relative to maximum drawdown	0.45	2.09	-1.64
Martin ratio: Return relative to average drawdown	1.16	4.40	-3.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHLD vs. SLV - Sharpe Ratio Comparison

The current SHLD Sharpe Ratio is 0.37, which is lower than the SLV Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of SHLD and SLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHLD	SLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	1.50	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.98	0.23	+1.75

Drawdowns

SHLD vs. SLV - Drawdown Comparison

The maximum SHLD drawdown since its inception was -20.10%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for SHLD and SLV.

Drawdown Indicators

	SHLD	SLV	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	-76.28%	+56.18%
Max Drawdown (1Y) Largest decline over 1 year	-20.10%	-42.45%	+22.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-42.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.81%	—
Current Drawdown Current decline from peak	-19.16%	-41.69%	+22.53%
Average Drawdown Average peak-to-trough decline	-3.26%	-44.67%	+41.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.78%	20.15%	-12.37%

Volatility

SHLD vs. SLV - Volatility Comparison

The current volatility for Global X Defense Tech ETF (SHLD) is 7.64%, while iShares Silver Trust (SLV) has a volatility of 16.89%. This indicates that SHLD experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLD	SLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	16.89%	-9.25%
Volatility (6M) Calculated over the trailing 6-month period	19.39%	58.88%	-39.49%
Volatility (1Y) Calculated over the trailing 1-year period	24.20%	59.53%	-35.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.14%	36.33%	-15.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.14%	31.92%	-10.78%

SHLD vs. SLV - Expense Ratio Comparison

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

Dividends

SHLD vs. SLV - Dividend Comparison

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

Position	TTM	2025	2024	2023
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%
SLV iShares Silver Trust	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHLD and SLV in my portfolio?

SHLD and SLV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHLD or SLV?

SLV has higher volatility (16.89%) compared to SHLD (7.64%). In terms of maximum drawdown, SHLD dropped -20.10% vs SLV's -76.28%.

Which ETF is better, SHLD or SLV?

On 1-year performance, SLV leads with 88.38% vs 8.97% for SHLD. Both ETFs have the same 0.50% expense ratio. On volatility, SHLD has been the lower-risk option at 7.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHLD or SLV?

Over the 1-year period, SLV has performed better with a 88.38% return vs 8.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHLD or SLV?

SHLD and SLV have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, SHLD or SLV?

SHLD has the higher dividend yield at 0.56%, compared with 0.00% for SLV.

What is the main difference between SHLD and SLV?

SHLD is categorized as Aerospace & Defense, while SLV is Silver. SHLD tracks Global X Defense Tech Index, while SLV tracks LBMA Silver Price. They also come from different issuers: Global X and iShares.

Which has better risk-adjusted returns?

SLV currently has the higher Sharpe Ratio (1.50 vs 0.37), 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.