ULS vs. SHLD

Last updated Jun 13, 2026

ULS (UL Solutions Inc) is a stock, while SHLD (Global X Defense Tech ETF) is Aerospace & Defense fund tracking the Global X Defense Tech Index. Over the past year, ULS returned 38.65% vs 10.40% for SHLD. At a 0.28 correlation, their price movements are largely independent.

Performance

ULS vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UL Solutions Inc (ULS) 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, ULS achieves a 23.31% return, which is significantly higher than SHLD's -1.50% return.

ULS

• 1D: -1.50%
• 1M: -1.75%
• YTD: 23.31%
• 6M: 24.86%
• 1Y: 38.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -2.04%
• 1M: 0.05%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 10.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ULS vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ULS UL Solutions Inc	23.31%	59.33%	46.87%
SHLD Global X Defense Tech ETF	-1.50%	74.16%	15.81%

Correlation

The correlation between ULS and SHLD is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 12, 2024	0.28

Return for Risk

ULS vs. SHLD — Risk / Return Rank

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

ULS

ULS Risk / Return Rank: 72
ULS Sharpe Ratio Rank: 72
ULS Sortino Ratio Rank: 70
ULS Omega Ratio Rank: 72
ULS Calmar Ratio Rank: 71
ULS Martin Ratio Rank: 73

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 16
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

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.

ULS vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UL Solutions Inc (ULS) 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.

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.

	ULS	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.94	0.43	+0.51
Sortino ratio: Return per unit of downside risk	1.62	0.78	+0.84
Omega ratio: Gain probability vs. loss probability	1.22	1.09	+0.14
Calmar ratio: Return relative to maximum drawdown	1.60	0.52	+1.08
Martin ratio: Return relative to average drawdown	4.04	1.28	+2.76

ULS vs. SHLD - Sharpe Ratio Comparison

The current ULS Sharpe Ratio is 0.94, which is higher than the SHLD Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of ULS 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.

Drawdowns

ULS vs. SHLD - Drawdown Comparison

The maximum ULS drawdown since its inception was -24.34%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for ULS and SHLD.

Drawdown Indicators

	ULS	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-24.34%	-20.10%	-4.24%
Max Drawdown (1Y) Largest decline over 1 year	-24.34%	-20.10%	-4.24%
Current Drawdown Current decline from peak	-7.45%	-18.20%	+10.75%
Average Drawdown Average peak-to-trough decline	-5.59%	-3.34%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.59%	8.12%	+1.47%

Volatility

ULS vs. SHLD - Volatility Comparison

The current volatility for UL Solutions Inc (ULS) is 6.13%, while Global X Defense Tech ETF (SHLD) has a volatility of 9.05%. This indicates that ULS experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULS	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	9.05%	-2.92%
Volatility (6M) Calculated over the trailing 6-month period	30.12%	19.94%	+10.18%
Volatility (1Y) Calculated over the trailing 1-year period	41.32%	24.55%	+16.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.71%	21.29%	+14.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.71%	21.29%	+14.42%

Dividends

ULS vs. SHLD - Dividend Comparison

ULS's dividend yield for the trailing twelve months is around 0.57%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%
ULS UL Solutions Inc	0.57%	0.66%	0.75%	0.00%

Frequently Asked Questions

Can I hold both ULS and SHLD in my portfolio?

ULS and SHLD have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ULS or SHLD?

SHLD has higher volatility (9.05%) compared to ULS (6.13%). In terms of maximum drawdown, ULS dropped -24.34% vs SHLD's -20.10%.

Which has better risk-adjusted returns?

ULS currently has the higher Sharpe Ratio (0.94 vs 0.43), 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.