UFO vs. SHLD

Last updated Jun 4, 2026

UFO (Procure Space ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - UFO is a Global Equities fund tracking the S-Network Space Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, UFO returned 135.88% vs 9.71% for SHLD. A 0.53 correlation means they provide meaningful diversification when combined. UFO charges 0.75%/yr vs 0.50%/yr for SHLD.

Performance

UFO vs. SHLD - Performance Comparison

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

Returns By Period

In the year-to-date period, UFO achieves a 49.39% return, which is significantly higher than SHLD's -2.28% return.

UFO

• 1D: -5.68%
• 1M: 12.53%
• YTD: 49.39%
• 6M: 71.06%
• 1Y: 135.88%
• 3Y*: 46.01%
• 5Y*: 15.60%
• 10Y*: —

SHLD

• 1D: -2.39%
• 1M: -7.01%
• YTD: -2.28%
• 6M: 1.71%
• 1Y: 9.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UFO vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UFO Procure Space ETF	49.39%	67.36%	27.22%	6.48%
SHLD Global X Defense Tech ETF	-2.28%	74.16%	35.03%	12.89%

Correlation

The correlation between UFO and SHLD is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.53

The correlation between UFO and SHLD has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.

UFO vs. SHLD - Sectors Allocation Comparison

Sectors	UFO	SHLD
Industrials	47.2%	88.2%
Communication Services	30.8%	-
Technology	22.0%	11.8%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

UFO vs. SHLD — Risk / Return Rank

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

UFO

UFO Risk / Return Rank: 88
UFO Sharpe Ratio Rank: 93
UFO Sortino Ratio Rank: 86
UFO Omega Ratio Rank: 78
UFO Calmar Ratio Rank: 92
UFO Martin Ratio Rank: 89

SHLD

SHLD Risk / Return Rank: 15
SHLD Sharpe Ratio Rank: 14
SHLD Sortino Ratio Rank: 15
SHLD Omega Ratio Rank: 14
SHLD Calmar Ratio Rank: 14
SHLD Martin Ratio Rank: 15

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.

UFO vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Procure Space ETF (UFO) and Global X Defense Tech ETF (SHLD). 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.

	UFO	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	3.59	0.41	+3.18
Sortino ratio: Return per unit of downside risk	3.95	0.74	+3.21
Omega ratio: Gain probability vs. loss probability	1.48	1.08	+0.39
Calmar ratio: Return relative to maximum drawdown	6.23	0.49	+5.74
Martin ratio: Return relative to average drawdown	20.29	1.30	+18.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UFO vs. SHLD - Sharpe Ratio Comparison

The current UFO Sharpe Ratio is 3.59, which is higher than the SHLD Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of UFO and SHLD, 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

	UFO	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.59	0.41	+3.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	2.00	-1.54

Drawdowns

UFO vs. SHLD - Drawdown Comparison

The maximum UFO drawdown since its inception was -50.33%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for UFO and SHLD.

Drawdown Indicators

	UFO	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-20.10%	-30.23%
Max Drawdown (1Y) Largest decline over 1 year	-21.95%	-20.10%	-1.85%
Max Drawdown (3Y) Largest decline over 3 years	-25.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-50.33%	—	—
Current Drawdown Current decline from peak	-14.84%	-18.85%	+4.01%
Average Drawdown Average peak-to-trough decline	-21.82%	-3.19%	-18.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.72%	7.51%	-0.79%

Volatility

UFO vs. SHLD - Volatility Comparison

Procure Space ETF (UFO) has a higher volatility of 16.64% compared to Global X Defense Tech ETF (SHLD) at 7.81%. This indicates that UFO's price experiences larger fluctuations and is considered to be riskier than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UFO	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	7.81%	+8.83%
Volatility (6M) Calculated over the trailing 6-month period	31.27%	19.35%	+11.92%
Volatility (1Y) Calculated over the trailing 1-year period	38.08%	24.05%	+14.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.92%	21.13%	+8.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.76%	21.13%	+9.63%

UFO vs. SHLD - Expense Ratio Comparison

UFO has a 0.75% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

UFO vs. SHLD - Dividend Comparison

UFO's dividend yield for the trailing twelve months is around 0.29%, less than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%
UFO Procure Space ETF	0.29%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%

Frequently Asked Questions

Can I hold both UFO and SHLD in my portfolio?

UFO and SHLD have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UFO or SHLD?

UFO has higher volatility (16.64%) compared to SHLD (7.81%). In terms of maximum drawdown, UFO dropped -50.33% vs SHLD's -20.10%.

Which ETF is better, UFO or SHLD?

On 1-year performance, UFO leads with 135.88% vs 9.71% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 7.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UFO or SHLD?

Over the 1-year period, UFO has performed better with a 135.88% return vs 9.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UFO or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.75% for UFO.

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

SHLD has the higher dividend yield at 0.56%, compared with 0.29% for UFO.

What is the main difference between UFO and SHLD?

UFO is categorized as Global Equities, while SHLD is Aerospace & Defense. UFO tracks S-Network Space Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: ProcureAM and Global X. Their fees differ too: 0.75% for UFO and 0.50% for SHLD.

Which has better risk-adjusted returns?

UFO currently has the higher Sharpe Ratio (3.59 vs 0.41), 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.