SHLS vs. LIT

Last updated Jun 24, 2026

SHLS (Shoals Technologies Group, Inc.) is a stock, while LIT (Global X Lithium & Battery Tech ETF) is Lithium & Battery Metals fund tracking the Solactive Global Lithium Index. Over the past 5 years, SHLS returned -20.28%/yr vs 3.06%/yr for LIT. At a 0.37 correlation, their price movements are largely independent.

Performance

SHLS vs. LIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shoals Technologies Group, Inc. (SHLS) and Global X Lithium & Battery Tech ETF (LIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SHLS having a 20.94% return and LIT slightly lower at 20.92%.

SHLS

• 1D: -6.03%
• 1M: 3.73%
• YTD: 20.94%
• 6M: 12.84%
• 1Y: 107.68%
• 3Y*: -24.70%
• 5Y*: -20.28%
• 10Y*: —

LIT

• 1D: -5.01%
• 1M: -8.03%
• YTD: 20.92%
• 6M: 17.98%
• 1Y: 114.29%
• 3Y*: 8.82%
• 5Y*: 3.06%
• 10Y*: 14.22%

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

SHLS vs. LIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SHLS Shoals Technologies Group, Inc.	20.94%	53.71%	-64.41%	-37.01%	1.52%	-22.36%
LIT Global X Lithium & Battery Tech ETF	20.92%	60.05%	-19.19%	-12.18%	-29.91%	18.21%

Correlation

The correlation between SHLS and LIT is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021	0.37

Return for Risk

SHLS vs. LIT — Risk / Return Rank

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

SHLS

SHLS Risk / Return Rank: 77
SHLS Sharpe Ratio Rank: 78
SHLS Sortino Ratio Rank: 75
SHLS Omega Ratio Rank: 75
SHLS Calmar Ratio Rank: 78
SHLS Martin Ratio Rank: 77

LIT

LIT Risk / Return Rank: 91
LIT Sharpe Ratio Rank: 94
LIT Sortino Ratio Rank: 87
LIT Omega Ratio Rank: 85
LIT Calmar Ratio Rank: 94
LIT Martin Ratio Rank: 94

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.

SHLS vs. LIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shoals Technologies Group, Inc. (SHLS) and Global X Lithium & Battery Tech ETF (LIT). 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.

	SHLS	LIT	Difference
Sharpe ratio: Return per unit of total volatility	1.23	3.35	-2.12
Sortino ratio: Return per unit of downside risk	1.92	3.73	-1.81
Omega ratio: Gain probability vs. loss probability	1.25	1.49	-0.24
Calmar ratio: Return relative to maximum drawdown	2.29	6.98	-4.70
Martin ratio: Return relative to average drawdown	5.05	24.36	-19.31

SHLS vs. LIT - Sharpe Ratio Comparison

The current SHLS Sharpe Ratio is 1.23, which is lower than the LIT Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of SHLS and LIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SHLS vs. LIT - Drawdown Comparison

The maximum SHLS drawdown since its inception was -93.00%, which is greater than LIT's maximum drawdown of -65.91%. Use the drawdown chart below to compare losses from any high point for SHLS and LIT.

Drawdown Indicators

	SHLS	LIT	Difference
Max Drawdown Largest peak-to-trough decline	-93.00%	-65.91%	-27.09%
Max Drawdown (1Y) Largest decline over 1 year	-47.37%	-16.46%	-30.91%
Max Drawdown (3Y) Largest decline over 3 years	-89.56%	-53.01%	-36.55%
Max Drawdown (5Y) Largest decline over 5 years	-92.50%	-65.91%	-26.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-65.91%	—
Current Drawdown Current decline from peak	-74.41%	-15.46%	-58.95%
Average Drawdown Average peak-to-trough decline	-59.34%	-33.56%	-25.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.41%	4.71%	+16.70%

Volatility

SHLS vs. LIT - Volatility Comparison

Shoals Technologies Group, Inc. (SHLS) has a higher volatility of 31.73% compared to Global X Lithium & Battery Tech ETF (LIT) at 11.76%. This indicates that SHLS's price experiences larger fluctuations and is considered to be riskier than LIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLS	LIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.73%	11.76%	+19.97%
Volatility (6M) Calculated over the trailing 6-month period	67.03%	24.39%	+42.64%
Volatility (1Y) Calculated over the trailing 1-year period	87.78%	34.30%	+53.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.96%	32.09%	+46.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.67%	30.75%	+47.92%

Dividends

SHLS vs. LIT - Dividend Comparison

SHLS has not paid dividends to shareholders, while LIT's dividend yield for the trailing twelve months is around 0.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIT Global X Lithium & Battery Tech ETF	0.40%	0.49%	0.93%	1.11%	0.99%	0.22%	0.40%	1.85%	2.52%	3.26%	2.15%	0.24%
SHLS Shoals Technologies Group, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHLS and LIT in my portfolio?

SHLS and LIT have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHLS or LIT?

SHLS has higher volatility (31.73%) compared to LIT (11.76%). In terms of maximum drawdown, SHLS dropped -93.00% vs LIT's -65.91%.

Which has better risk-adjusted returns?

LIT currently has the higher Sharpe Ratio (3.35 vs 1.23), 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.