I'm a bit curious about the defensive stats on shields.
My understanding is that, unlike armor and helmets (which provide their defensive bonuses always) shields' stats are only functional when actively guarding?

Does this include status effects?
Example: I have an Owlite Shield which provides exceptional defense against Fire and Shock - does this mean that as long as I'm carrying the shield, my resistance to those two status effects is increased, or does that mean that when I'm actively defending my resistance to those statuses is increased?

(Unlike, say, my UV Gunslinger Poncho which gives me Fire Resist: Medium, that I assume is always on)