VNAM vs. SHLD

Last updated Jun 4, 2026

VNAM (Global X MSCI Vietnam ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - VNAM is a Emerging Markets Equities fund tracking the MSCI Vietnam Select 25/50 Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, VNAM returned 42.45% vs 9.71% for SHLD. At a 0.16 correlation, their price movements are largely independent. VNAM charges 0.51%/yr vs 0.50%/yr for SHLD.

Performance

VNAM vs. SHLD - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with VNAM having a -2.39% return and SHLD slightly higher at -2.28%.

VNAM

• 1D: -0.41%
• 1M: -5.03%
• YTD: -2.39%
• 6M: 1.38%
• 1Y: 42.45%
• 3Y*: 16.20%
• 5Y*: —
• 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)

VNAM vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VNAM Global X MSCI Vietnam ETF	-2.39%	67.05%	-7.78%	-10.82%
SHLD Global X Defense Tech ETF	-2.28%	74.16%	35.03%	12.89%

Correlation

The correlation between VNAM and SHLD is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.16

VNAM vs. SHLD - Sectors Allocation Comparison

Sectors	VNAM	SHLD
Real Estate	38.6%	-
Financial Services	25.5%	-
Industrials	12.8%	88.2%
Basic Materials	9.0%	-
Consumer Defensive	5.9%	-
Technology	4.7%	11.8%
Energy	1.9%	-
Consumer Cyclical	0.9%	-
Utilities	0.7%	-
Communication Services	-	-
Healthcare	-	-

Return for Risk

VNAM vs. SHLD — Risk / Return Rank

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

VNAM

VNAM Risk / Return Rank: 46
VNAM Sharpe Ratio Rank: 46
VNAM Sortino Ratio Rank: 44
VNAM Omega Ratio Rank: 43
VNAM Calmar Ratio Rank: 51
VNAM Martin Ratio Rank: 45

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.

VNAM vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Vietnam ETF (VNAM) 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.

	VNAM	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	1.59	0.41	+1.18
Sortino ratio: Return per unit of downside risk	2.21	0.74	+1.47
Omega ratio: Gain probability vs. loss probability	1.28	1.08	+0.19
Calmar ratio: Return relative to maximum drawdown	2.51	0.49	+2.02
Martin ratio: Return relative to average drawdown	7.34	1.30	+6.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNAM vs. SHLD - Sharpe Ratio Comparison

The current VNAM Sharpe Ratio is 1.59, which is higher than the SHLD Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of VNAM 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

	VNAM	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	0.41	+1.18
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	2.00	-2.02

Drawdowns

VNAM vs. SHLD - Drawdown Comparison

The maximum VNAM drawdown since its inception was -52.84%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for VNAM and SHLD.

Drawdown Indicators

	VNAM	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-52.84%	-20.10%	-32.74%
Max Drawdown (1Y) Largest decline over 1 year	-17.03%	-20.10%	+3.07%
Max Drawdown (3Y) Largest decline over 3 years	-31.34%	—	—
Current Drawdown Current decline from peak	-9.01%	-18.85%	+9.84%
Average Drawdown Average peak-to-trough decline	-30.54%	-3.19%	-27.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.81%	7.51%	-1.70%

Volatility

VNAM vs. SHLD - Volatility Comparison

The current volatility for Global X MSCI Vietnam ETF (VNAM) is 6.74%, while Global X Defense Tech ETF (SHLD) has a volatility of 7.81%. This indicates that VNAM 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

	VNAM	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	7.81%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	19.91%	19.35%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	26.85%	24.05%	+2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.60%	21.13%	+4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.60%	21.13%	+4.47%

VNAM vs. SHLD - Expense Ratio Comparison

VNAM has a 0.51% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

VNAM vs. SHLD - Dividend Comparison

VNAM's dividend yield for the trailing twelve months is around 0.51%, less than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%
VNAM Global X MSCI Vietnam ETF	0.51%	0.50%	1.00%	0.49%	1.04%	0.13%

Frequently Asked Questions

Can I hold both VNAM and SHLD in my portfolio?

VNAM and SHLD have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNAM or SHLD?

SHLD has higher volatility (7.81%) compared to VNAM (6.74%). In terms of maximum drawdown, VNAM dropped -52.84% vs SHLD's -20.10%.

Which ETF is better, VNAM or SHLD?

On 1-year performance, VNAM leads with 42.45% vs 9.71% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, VNAM has been the lower-risk option at 6.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNAM or SHLD?

Over the 1-year period, VNAM has performed better with a 42.45% return vs 9.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNAM or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.51% for VNAM.

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

SHLD has the higher dividend yield at 0.56%, compared with 0.51% for VNAM.

What is the main difference between VNAM and SHLD?

VNAM is categorized as Emerging Markets Equities, while SHLD is Aerospace & Defense. VNAM tracks MSCI Vietnam Select 25/50 Index, while SHLD tracks Global X Defense Tech Index. Their fees differ too: 0.51% for VNAM and 0.50% for SHLD.

Which has better risk-adjusted returns?

VNAM currently has the higher Sharpe Ratio (1.59 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.