WAR vs. SHLD

Last updated Jun 24, 2026

WAR (U.S. Global Technology and Aerospace & Defense ETF) and SHLD (Global X Defense Tech ETF) are both Aerospace & Defense funds. WAR is actively managed, while SHLD is passively managed. At a 0.26 correlation, their price movements are largely independent. WAR charges 0.60%/yr vs 0.50%/yr for SHLD.

Performance

WAR vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Technology and Aerospace & Defense ETF (WAR) and Global X Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WAR

• 1D: -4.72%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -0.05%
• 1M: -7.05%
• YTD: -6.53%
• 6M: -8.73%
• 1Y: 4.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WAR vs. SHLD - Yearly Performance Comparison

	2026 (YTD)
WAR U.S. Global Technology and Aerospace & Defense ETF	-4.38%
SHLD Global X Defense Tech ETF	-7.05%

Correlation

The correlation between WAR and SHLD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.26

WAR vs. SHLD - Sectors Allocation Comparison

Sectors	WAR	SHLD
Technology	55.6%	12.2%
Industrials	39.8%	87.8%
Financial Services	2.7%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-
Communication Services	-5.0%	-

Return for Risk

WAR vs. SHLD — Risk / Return Rank

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

WAR

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SHLD

SHLD Risk / Return Rank: 11
SHLD Sharpe Ratio Rank: 11
SHLD Sortino Ratio Rank: 11
SHLD Omega Ratio Rank: 10
SHLD Calmar Ratio Rank: 10
SHLD Martin Ratio Rank: 11

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.

WAR vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Technology and Aerospace & Defense ETF (WAR) 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.

	WAR	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	—	0.16	—
Sortino ratio: Return per unit of downside risk	—	0.41	—
Omega ratio: Gain probability vs. loss probability	—	1.05	—
Calmar ratio: Return relative to maximum drawdown	—	0.18	—
Martin ratio: Return relative to average drawdown	—	0.46	—

Drawdowns

WAR vs. SHLD - Drawdown Comparison

The maximum WAR drawdown since its inception was -13.13%, smaller than the maximum SHLD drawdown of -22.38%. Use the drawdown chart below to compare losses from any high point for WAR and SHLD.

Drawdown Indicators

	WAR	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-13.13%	-22.38%	+9.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-22.38%	—
Current Drawdown Current decline from peak	-10.38%	-22.38%	+12.00%
Average Drawdown Average peak-to-trough decline	-5.48%	-3.49%	-1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.69%	—

Volatility

Volatility by Period

	WAR	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	52.90%	24.71%	+28.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.90%	21.33%	+31.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.90%	21.33%	+31.57%

WAR vs. SHLD - Expense Ratio Comparison

WAR has a 0.60% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

WAR vs. SHLD - Dividend Comparison

WAR has not paid dividends to shareholders, while SHLD's dividend yield for the trailing twelve months is around 0.59%.

Position	TTM	2025	2024	2023
SHLD Global X Defense Tech ETF	0.59%	0.55%	0.53%	0.26%
WAR U.S. Global Technology and Aerospace & Defense ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WAR and SHLD in my portfolio?

WAR and SHLD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WAR or SHLD?

On fees, SHLD is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAR or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.60% for WAR.

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

SHLD has the higher dividend yield at 0.59%, compared with 0.00% for WAR.

What is the main difference between WAR and SHLD?

They also come from different issuers: US Global and Global X. Their fees differ too: 0.60% for WAR and 0.50% for SHLD.