When Using Water shield I gain:
50+ Water resistance
50- Fire resistance
That means I catch fire easier and resist water based attacks... Should be the other way around. Wouldn't it make more sense to be more prone to freezing and water damage and immune or near immune to fire? I am covered in Water after all.
Not sure if this happens to the other shields or not.
Also at least Earth Shield has a chance to inflict poison when attacked, Water shield doesn't seem to cause any negative effects.