ZCBC vs. SHLD

Last updated Jun 6, 2026

ZCBC (Global X Zero Coupon Bond 2032 ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - ZCBC is a Government Bonds fund tracking the FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. At a 0.25 correlation, their price movements are largely independent. ZCBC charges 0.07%/yr vs 0.50%/yr for SHLD.

Performance

ZCBC vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2032 ETF (ZCBC) and Global X Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBC

• 1D: -0.51%
• 1M: -1.15%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -1.96%
• 1M: -7.22%
• YTD: -2.69%
• 6M: 0.71%
• 1Y: 8.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZCBC vs. SHLD - Yearly Performance Comparison

	2026 (YTD)
ZCBC Global X Zero Coupon Bond 2032 ETF	-0.79%
SHLD Global X Defense Tech ETF	-11.16%

Correlation

The correlation between ZCBC and SHLD is 0.25, 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 Jan 8, 2026	0.25

Return for Risk

ZCBC vs. SHLD — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 15
SHLD Sharpe Ratio Rank: 14
SHLD Sortino Ratio Rank: 15
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.

ZCBC vs. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2032 ETF (ZCBC) 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.

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

Sharpe Ratios by Period

	ZCBC	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	1.98	-2.40

Drawdowns

ZCBC vs. SHLD - Drawdown Comparison

The maximum ZCBC drawdown since its inception was -3.65%, smaller than the maximum SHLD drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for ZCBC and SHLD.

Drawdown Indicators

	ZCBC	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-3.65%	-20.10%	+16.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.10%	—
Current Drawdown Current decline from peak	-3.05%	-19.19%	+16.14%
Average Drawdown Average peak-to-trough decline	-1.46%	-3.24%	+1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.69%	—

Volatility

Volatility by Period

	ZCBC	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	24.16%	-19.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	21.16%	-16.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	21.16%	-16.57%

ZCBC vs. SHLD - Expense Ratio Comparison

ZCBC has a 0.07% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

ZCBC vs. SHLD - Dividend Comparison

ZCBC's dividend yield for the trailing twelve months is around 1.61%, 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%
ZCBC Global X Zero Coupon Bond 2032 ETF	1.61%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBC and SHLD in my portfolio?

ZCBC and SHLD have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBC or SHLD?

On fees, ZCBC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZCBC or SHLD?

ZCBC is cheaper with a 0.07% expense ratio, compared with 0.50% for SHLD.

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

ZCBC has the higher dividend yield at 1.61%, compared with 0.56% for SHLD.

What is the main difference between ZCBC and SHLD?

ZCBC is categorized as Government Bonds, while SHLD is Aerospace & Defense. ZCBC tracks FTSE Zero Coupon U.S. Treasury STRIPS 2032 Maturity Index, while SHLD tracks Global X Defense Tech Index. Their fees differ too: 0.07% for ZCBC and 0.50% for SHLD.