VS
iShares U.S. Aerospace & Defense Index ETF (XAD) and Global X Defence Tech Index ETF (SHLD) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XAD focuses its top 3 sector exposures on Industrials, Materials, and Consumer Discretionary, while SHLD leans towards Industrials and Information Technology. When evaluating costs, XAD features a management fee (MER) of 0.39%, compared to 0.49% for SHLD. Performance-wise, XAD has returned 12.43% year-to-date with +$58 M in net flows, whereas SHLD is at 2.3% with +$99 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
XAD
SHLD
| AuM | $180.95 M | $237.84 M |
| Management Fees | 0.39% | 0.49% |
| Exp. ratio | 0.43% | 0.49% |
| Tracking Difference | -0.83% | -1.24% |
Historical performance and flows
As of June 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XAD | +7.06% | +1.83% | +12.43% | +34.36% | - |
SHLD | +2.67% | -11.56% | +2.30% | +16.89% | - | |
| Flows | XAD | -$7 M | +$0 M | +$58 M | +$114 M | - |
SHLD | -$8 M | +$4 M | +$99 M | +$233 M | - |
XAD vs SHLD exposure
Countries
XAD
USA
97.77%
SHLD
USA
57.10%
Republic of Korea
9.23%
Other
33.66%
Sectors
XAD
Industrials
89.15%
Other
7.05%
SHLD
Industrials
85.58%
Information Technology
7.62%
As of June 11, 2026
Top 10 Holdings
XAD
GENERAL ELECTRIC
19.42%
RAYTHEON TECHNOLOGIES CORPORD
15.09%
BOEING U
10.24%
GENERAL DYNAMICS
4.78%
HOWMET AEROSPACE INC
4.74%
TRANSDIGM GROUP
4.53%
L3 HARRIS TECHNOLOGIES
4.32%
LOCKHEED MARTIN
3.92%
NORTHROP GRUMMAN
3.88%
US7731211089
3.27%
SHLD
LOCKHEED MARTIN
8.19%
GENERAL DYNAMICS
7.59%
RAYTHEON TECHNOLOGIES CORPORD
7.55%
PALANTIR TECHNOLOGIES
6.30%
RHEINMETALL
6.04%
HANWHA AEROSPACE
5.47%
BAE SYSTEMS
4.89%
L3 HARRIS TECHNOLOGIES
4.84%
NORTHROP GRUMMAN
4.35%
LEONARDO SPA
4.22%
Diversification
XAD
Total weight of top 10 holdings out of 44 total
74.20%
SHLD
Total weight of top 10 holdings out of 47 total
59.44%
Characteristics
Compare
XAD
SHLD
| Provider | iShares | Global X |
| Management | Passively managed | Passively managed |
| Benchmark | Dow Jones U.S. Select Aerospace & Defense Index - CAD | Global X Defense Tech Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 0.31% | 0.17% |
| Meets ESG criteria | No | No |
| Inception Date | September 6, 2023 | April 30, 2025 |
Frequently asked questions about XAD and SHLD
Which ETF has performed better year to date: XAD or SHLD?
As of June 11, 2026, XAD has returned 12.43% year to date, while SHLD has returned 2.30%. XAD is ahead on YTD performance.
Which ETF is larger by assets under management: XAD or SHLD?
As of June 11, 2026, XAD manages $180.95 M in assets, while SHLD manages $237.84 M. SHLD is the larger fund by AUM.
How are XAD and SHLD managed?
XAD is passively managed by iShares. It tracks the Dow Jones U.S. Select Aerospace & Defense Index - CAD benchmark. SHLD is passively managed by Global X. It tracks the Global X Defense Tech Index - CAD benchmark.
What sectors do XAD and SHLD emphasize?
XAD is most exposed to Industrials, Materials, and Consumer Discretionary. SHLD is most exposed to Industrials and Information Technology.
Which ETF is attracting more investor flows: XAD or SHLD?
Year to date, XAD has seen +$57.68 M in net flows, compared with +$99.34 M for SHLD. SHLD has attracted more net investor money so far.
How do the fees of XAD and SHLD compare?
XAD has an expense ratio of 0.43%, while SHLD has an expense ratio of 0.49%.
What are the top holdings of XAD and SHLD?
XAD's largest holdings include GENERAL ELECTRIC, RAYTHEON TECHNOLOGIES CORPORD, and BOEING U. SHLD's top holdings include LOCKHEED MARTIN, GENERAL DYNAMICS, and RAYTHEON TECHNOLOGIES CORPORD.
Which ETF is more diversified: XAD or SHLD?
XAD holds 36 securities, while SHLD holds 42. On holdings count, SHLD is the more diversified portfolio.
Recent articles about XAD and SHLD
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