UTHY vs. SHLD

Last updated Aug 5, 2026

UTHY (US Treasury 30 Year Bond ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - UTHY is a Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, UTHY returned -1.50% vs 9.80% for SHLD. Their 0.11 correlation means their historical movements had little consistent relationship. UTHY charges 0.15%/yr vs 0.50%/yr for SHLD.

Performance

UTHY vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 30 Year Bond ETF (UTHY) 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, UTHY achieves a -2.44% return, which is significantly lower than SHLD's 4.63% return.

UTHY

• 1D: 0.77%
• 1M: -2.84%
• 6M: -2.13%
• YTD: -2.44%
• 1Y: -1.50%
• 3Y*: -1.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.02%

SHLD

• 1D: 4.97%
• 1M: 5.64%
• 6M: -11.16%
• YTD: 4.63%
• 1Y: 9.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 42.38%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SHLD Global X Defense Tech ETF	$73.91M	$66.47M	$107.62M
UTHY US Treasury 30 Year Bond ETF	$5.77M	$5.13M	$5.93M

UTHY vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UTHY US Treasury 30 Year Bond ETF	-2.44%	3.47%	-8.07%	6.17%
SHLD Global X Defense Tech ETF	4.63%	74.16%	35.03%	12.89%

Correlation

The correlation between UTHY and SHLD is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.11

Return for Risk

UTHY vs. SHLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UTHY

UTHY Risk / Return Rank: 8
UTHY Sharpe Ratio Rank: 8
UTHY Sortino Ratio Rank: 7
UTHY Omega Ratio Rank: 7
UTHY Calmar Ratio Rank: 8
UTHY Martin Ratio Rank: 7

SHLD

SHLD Risk / Return Rank: 17
SHLD Sharpe Ratio Rank: 18
SHLD Sortino Ratio Rank: 19
SHLD Omega Ratio Rank: 18
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UTHY vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 30 Year Bond ETF (UTHY) 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.

	UTHY	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	0.38	-0.55
Sortino ratio: Return per unit of downside risk	-0.18	0.73	-0.91
Omega ratio: Gain probability vs. loss probability	0.98	1.08	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.20	0.39	-0.59
Martin ratio: Return relative to average drawdown	-0.44	0.88	-1.31

UTHY vs. SHLD - Sharpe Ratio Comparison

The current UTHY Sharpe Ratio is -0.17, which is lower than the SHLD Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of UTHY 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

UTHY vs. SHLD - Drawdown Comparison

The maximum UTHY drawdown since its inception was -21.86%, smaller than the maximum SHLD drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for UTHY and SHLD.

Drawdown Indicators

	UTHY	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-21.86%	-25.40%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	-25.40%	+17.99%
Max Drawdown (3Y) Largest decline over 3 years	-14.90%	—	—
Current Drawdown Current decline from peak	-13.30%	-13.12%	-0.18%
Average Drawdown Average peak-to-trough decline	-10.75%	-4.18%	-6.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	11.21%	-7.75%

Volatility

UTHY vs. SHLD - Volatility Comparison

The current volatility for US Treasury 30 Year Bond ETF (UTHY) is 2.54%, while Global X Defense Tech ETF (SHLD) has a volatility of 8.07%. This indicates that UTHY 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

	UTHY	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	8.07%	-5.53%
Volatility (6M) Calculated over the trailing 6-month period	6.63%	20.78%	-14.15%
Volatility (1Y) Calculated over the trailing 1-year period	8.92%	25.85%	-16.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	21.74%	-8.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.46%	21.74%	-8.28%

UTHY vs. SHLD - Expense Ratio Comparison

UTHY has a 0.15% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

UTHY vs. SHLD - Dividend Comparison

UTHY's dividend yield for the trailing twelve months is around 4.81%, more than SHLD's 0.63% yield.

Position	TTM	2025	2024	2023
SHLD Global X Defense Tech ETF	0.63%	0.55%	0.53%	0.26%
UTHY US Treasury 30 Year Bond ETF	4.81%	4.53%	4.58%	2.81%

Frequently Asked Questions

Can I hold both UTHY and SHLD in my portfolio?

UTHY and SHLD have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UTHY or SHLD?

SHLD has higher volatility (8.07%) compared to UTHY (2.54%). In terms of maximum drawdown, UTHY dropped -21.86% vs SHLD's -25.40%.

Which ETF is better, UTHY or SHLD?

On 1-year performance, SHLD leads with 9.80% vs -1.50% for UTHY. On fees, UTHY is cheaper at 0.15% per year. On volatility, UTHY has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTHY or SHLD?

Over the 1-year period, SHLD has performed better with a 9.80% return vs -1.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTHY or SHLD?

UTHY is cheaper with a 0.15% expense ratio, compared with 0.50% for SHLD.

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

UTHY has the higher dividend yield at 4.81%, compared with 0.63% for SHLD.

What is the main difference between UTHY and SHLD?

UTHY is categorized as Government Bonds, while SHLD is Aerospace & Defense. UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: US Benchmark Series and Global X. Their fees differ too: 0.15% for UTHY and 0.50% for SHLD.

Which has better risk-adjusted returns?

SHLD currently has the higher Sharpe Ratio (0.38 vs -0.17), 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.