VS
Global X Defence Tech Index ETF (SHLD) and iShares U.S. Aerospace & Defense Index ETF (XAD) offer distinct profiles for Canadian ETF investors. A direct comparison shows that SHLD focuses its top 3 sector exposures on Industrials, Business Services, and Technology, while XAD leans towards Industrials and Non-Energy Materials. When evaluating costs, SHLD features a management fee (MER) of 0.49%, compared to 0.39% for XAD. Performance-wise, SHLD has returned 0.19% year-to-date with +$91 M in net flows, whereas XAD is at 15.01% with +$56 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
SHLD
XAD
| AuM | $223.98 M | $182.75 M |
| Management Fees | 0.49% | 0.39% |
| Exp. ratio | 0.49% | 0.43% |
| Tracking Difference | -1.20% | -0.82% |
Historical performance and flows
As of July 24, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | SHLD | +6.29% | -3.58% | +0.19% | +6.13% | - |
XAD | +0.57% | +14.55% | +15.01% | +26.59% | - | |
| Flows | SHLD | -$7 M | -$22 M | +$91 M | +$180 M | - |
XAD | -$2 M | -$12 M | +$56 M | +$92 M | - |
SHLD vs XAD exposure
Countries
SHLD
USA
63.63%
Other
36.37%
XAD
USA
99.80%
Sectors
SHLD
Industrials
88.59%
Business Services
7.48%
XAD
Industrials
95.86%
As of July 24, 2026
Top 10 Holdings
SHLD
RTX Corp.
9.36%
General Dynamics Corp.
8.97%
Lockheed Martin Corp.
8.32%
Northrop Grumman Corp.
7.90%
Palantir Technologies, Inc.
7.48%
L3Harris Technologies, Inc.
4.61%
BAE Systems Plc
4.45%
Rheinmetall AG
3.88%
Thales SA
3.69%
HANWHA AEROSPACE Co., Ltd.
3.49%
XAD
GE Aerospace
22.61%
RTX Corp.
14.81%
The Boeing Co.
8.89%
TransDigm Group, Inc.
4.58%
Howmet Aerospace, Inc.
4.50%
General Dynamics Corp.
4.33%
Lockheed Martin Corp.
4.05%
Northrop Grumman Corp.
3.92%
L3Harris Technologies, Inc.
3.80%
Rocket Lab Corp.
3.63%
Diversification
SHLD
Total weight of top 10 holdings out of 47 total
62.16%
XAD
Total weight of top 10 holdings out of 49 total
75.12%
Characteristics
Compare
SHLD
XAD
| Provider | Global X | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | Global X Defense Tech Index - CAD | Dow Jones U.S. Select Aerospace & Defense Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.18% | 0.30% |
| Meets ESG criteria | No | No |
| Inception Date | April 30, 2025 | September 6, 2023 |
Frequently asked questions about SHLD and XAD
Which ETF has performed better year to date: SHLD or XAD?
As of July 24, 2026, SHLD has returned 0.19% year to date, while XAD has returned 15.01%. XAD is ahead on YTD performance.
Which ETF is larger by assets under management: SHLD or XAD?
As of July 24, 2026, SHLD manages $223.98 M in assets, while XAD manages $182.75 M. SHLD is the larger fund by AUM.
How are SHLD and XAD managed?
SHLD is passively managed by Global X. It tracks the Global X Defense Tech Index - CAD benchmark. XAD is passively managed by iShares. It tracks the Dow Jones U.S. Select Aerospace & Defense Index - CAD benchmark.
What sectors do SHLD and XAD emphasize?
SHLD is most exposed to Industrials, Business Services, and Technology. XAD is most exposed to Industrials and Non-Energy Materials.
Which ETF is attracting more investor flows: SHLD or XAD?
Year to date, SHLD has seen +$90.62 M in net flows, compared with +$55.50 M for XAD. SHLD has attracted more net investor money so far.
How do the fees of SHLD and XAD compare?
SHLD has an expense ratio of 0.49%, while XAD has an expense ratio of 0.43%.
What are the top holdings of SHLD and XAD?
SHLD's largest holdings include RTX Corp., General Dynamics Corp., and Lockheed Martin Corp.. XAD's top holdings include GE Aerospace, RTX Corp., and The Boeing Co..
Which ETF is more diversified: SHLD or XAD?
SHLD holds 47 securities, while XAD holds 47. On holdings count, SHLD is the more diversified portfolio.
Recent articles about SHLD and XAD
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