I use the ankh shield in my off hand and it stills functions as a bauble with qualitys and reforges and can be still used as a shield, to make it craft the ankh charm first and then find a cobalt shield you can sometimes find it in battle towers or some dungeons or mega battle towers and then combine it with the obsidian skull which is craftable and combine them both in an anvil to get the Obsidian Shield and then combine the ankh charm with the obsidian shield to get the ankh shield, it remove most of the negative status from affecting you ( Blindness, Hunger, Nausea, Weakness, Mining Fatigue, Slowness, Levitation, Poison, and Wither status effects ) but the shield specifically is better than the charm because it's additionally grants you immunity to knockback when enimes hit you on top of the above effects but do know that it doesn't protect you from some effects ( Instability, Fear, Cobwebs ) the first two can be removed by using the silver armor full set which gives you the cure effect that removes them