SHLD vs. XDEF

Last updated Jun 26, 2026

SHLD (Global X Defense Tech ETF) and XDEF (Xtrackers Europe Defense Technologies ETF) are both Aerospace & Defense funds - SHLD tracks the Global X Defense Tech Index while XDEF tracks the STOXX Europe Total Market Defence, Space and Cybersecurity Innovation 50-25 Index. Both are passively managed. A 0.72 correlation means they provide meaningful diversification when combined. SHLD charges 0.50%/yr vs 0.35%/yr for XDEF.

Performance

SHLD vs. XDEF - Performance Comparison

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

Returns By Period

SHLD

• 1D: -1.15%
• 1M: -11.99%
• YTD: -10.17%
• 6M: -12.31%
• 1Y: -0.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDEF

• 1D: -1.21%
• 1M: -7.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHLD vs. XDEF - Yearly Performance Comparison

	2026 (YTD)
SHLD Global X Defense Tech ETF	-10.17%
XDEF Xtrackers Europe Defense Technologies ETF	-99.20%

Correlation

The correlation between SHLD and XDEF is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 2, 2026	0.72

Return for Risk

SHLD vs. XDEF — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 9
SHLD Sharpe Ratio Rank: 9
SHLD Sortino Ratio Rank: 9
SHLD Omega Ratio Rank: 9
SHLD Calmar Ratio Rank: 9
SHLD Martin Ratio Rank: 9

XDEF

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. XDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) and Xtrackers Europe Defense Technologies ETF (XDEF). 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	XDEF	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	—	—
Sortino ratio: Return per unit of downside risk	0.17	—	—
Omega ratio: Gain probability vs. loss probability	1.02	—	—
Calmar ratio: Return relative to maximum drawdown	-0.01	—	—
Martin ratio: Return relative to average drawdown	-0.03	—	—

Drawdowns

SHLD vs. XDEF - Drawdown Comparison

The maximum SHLD drawdown since its inception was -25.40%, smaller than the maximum XDEF drawdown of -99.30%. Use the drawdown chart below to compare losses from any high point for SHLD and XDEF.

Drawdown Indicators

	SHLD	XDEF	Difference
Max Drawdown Largest peak-to-trough decline	-25.40%	-99.30%	+73.90%
Max Drawdown (1Y) Largest decline over 1 year	-25.40%	—	—
Current Drawdown Current decline from peak	-25.40%	-99.29%	+73.89%
Average Drawdown Average peak-to-trough decline	-3.55%	-73.46%	+69.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.97%	—	—

Volatility

Volatility by Period

	SHLD	XDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.85%	146.96%	-122.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	146.96%	-125.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.39%	146.96%	-125.57%

SHLD vs. XDEF - Expense Ratio Comparison

SHLD has a 0.50% expense ratio, which is higher than XDEF's 0.35% expense ratio.

Dividends

SHLD vs. XDEF - Dividend Comparison

SHLD's dividend yield for the trailing twelve months is around 0.61%, less than XDEF's 1.57% yield.

Position	TTM	2025	2024	2023
SHLD Global X Defense Tech ETF	0.61%	0.55%	0.53%	0.26%
XDEF Xtrackers Europe Defense Technologies ETF	1.57%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHLD and XDEF in my portfolio?

SHLD and XDEF have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHLD or XDEF?

On fees, XDEF is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHLD or XDEF?

XDEF is cheaper with a 0.35% expense ratio, compared with 0.50% for SHLD.

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

XDEF has the higher dividend yield at 1.57%, compared with 0.61% for SHLD.

What is the main difference between SHLD and XDEF?

SHLD tracks Global X Defense Tech Index, while XDEF tracks STOXX Europe Total Market Defence, Space and Cybersecurity Innovation 50-25 Index. They also come from different issuers: Global X and Xtrackers. Their fees differ too: 0.50% for SHLD and 0.35% for XDEF.