VOO vs. SHLD

Last updated Jun 9, 2026

VOO (Vanguard S&P 500 ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, VOO returned 24.91% vs 8.97% for SHLD. At a 0.46 correlation, their price movements are largely independent. VOO charges 0.03%/yr vs 0.50%/yr for SHLD.

Performance

VOO vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 ETF (VOO) 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, VOO achieves a 8.72% return, which is significantly higher than SHLD's -2.65% return.

VOO

• 1D: 0.25%
• 1M: 0.24%
• YTD: 8.72%
• 6M: 8.77%
• 1Y: 24.91%
• 3Y*: 21.45%
• 5Y*: 13.49%
• 10Y*: 15.35%

SHLD

• 1D: 0.03%
• 1M: -3.34%
• YTD: -2.65%
• 6M: -0.77%
• 1Y: 8.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VOO vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VOO Vanguard S&P 500 ETF	8.72%	17.82%	24.98%	7.42%
SHLD Global X Defense Tech ETF	-2.65%	74.16%	35.03%	12.89%

Correlation

The correlation between VOO and SHLD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.46

VOO vs. SHLD - Sectors Allocation Comparison

Sectors	VOO	SHLD
Technology	35.7%	11.8%
Financial Services	11.6%	-
Communication Services	11.3%	-
Consumer Cyclical	10.2%	-
Healthcare	8.5%	-
Industrials	8.3%	88.2%
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.4%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

VOO vs. SHLD — Risk / Return Rank

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

VOO

VOO Risk / Return Rank: 69
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 68
VOO Omega Ratio Rank: 71
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

SHLD

SHLD Risk / Return Rank: 15
SHLD Sharpe Ratio Rank: 15
SHLD Sortino Ratio Rank: 16
SHLD Omega Ratio Rank: 15
SHLD Calmar Ratio Rank: 15
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.

VOO vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) 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.

	VOO	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	2.08	0.37	+1.70
Sortino ratio: Return per unit of downside risk	2.80	0.70	+2.10
Omega ratio: Gain probability vs. loss probability	1.38	1.08	+0.30
Calmar ratio: Return relative to maximum drawdown	2.81	0.45	+2.36
Martin ratio: Return relative to average drawdown	12.97	1.16	+11.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VOO vs. SHLD - Sharpe Ratio Comparison

The current VOO Sharpe Ratio is 2.08, which is higher than the SHLD Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of VOO 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

	VOO	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	0.37	+1.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	1.98	-1.10

Drawdowns

VOO vs. SHLD - Drawdown Comparison

The maximum VOO drawdown since its inception was -33.99%, which is greater than SHLD's maximum drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for VOO and SHLD.

Drawdown Indicators

	VOO	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-33.99%	-20.10%	-13.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-20.10%	+11.20%
Max Drawdown (3Y) Largest decline over 3 years	-18.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.52%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.99%	—	—
Current Drawdown Current decline from peak	-2.66%	-19.16%	+16.50%
Average Drawdown Average peak-to-trough decline	-3.69%	-3.26%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	7.78%	-5.86%

Volatility

VOO vs. SHLD - Volatility Comparison

The current volatility for Vanguard S&P 500 ETF (VOO) is 3.73%, while Global X Defense Tech ETF (SHLD) has a volatility of 7.64%. This indicates that VOO 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

	VOO	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	7.64%	-3.91%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	19.39%	-10.08%
Volatility (1Y) Calculated over the trailing 1-year period	12.08%	24.20%	-12.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	21.14%	-4.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	21.14%	-3.11%

VOO vs. SHLD - Expense Ratio Comparison

VOO has a 0.03% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

VOO vs. SHLD - Dividend Comparison

VOO's dividend yield for the trailing twelve months is around 1.05%, more than SHLD's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both VOO and SHLD in my portfolio?

VOO and SHLD have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOO or SHLD?

SHLD has higher volatility (7.64%) compared to VOO (3.73%). In terms of maximum drawdown, VOO dropped -33.99% vs SHLD's -20.10%.

Which ETF is better, VOO or SHLD?

On 1-year performance, VOO leads with 24.91% vs 8.97% for SHLD. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VOO or SHLD?

Over the 1-year period, VOO has performed better with a 24.91% return vs 8.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VOO or SHLD?

VOO is cheaper with a 0.03% expense ratio, compared with 0.50% for SHLD.

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

VOO has the higher dividend yield at 1.05%, compared with 0.56% for SHLD.

What is the main difference between VOO and SHLD?

VOO is categorized as S&P 500, while SHLD is Aerospace & Defense. VOO tracks S&P 500 Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: Vanguard and Global X. Their fees differ too: 0.03% for VOO and 0.50% for SHLD.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.08 vs 0.37), 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.