No. Even when it's sometime hard to compare these product types and often it is spoken that shadow defender is a system wide virtualisation, look what the product currently is doing: It is using a filtering driver (kernelmode) and redirects all write processes from real disk sectors to the virtual file (diskpt). So when we see the 2 issue groups discussed for sandboxes: (1) windows design flaw: When malware gets kernel access (f.e. via kernel exploit) Shadow Defender can do nothing against it and the filter driver can be disabled. From user mode this should be harder... (2) runtime issues: Normal malware works in shadow mode. Even if it can do no permanent damage to file system: keyloggers can steal passwords, trojans can steal files etc.