Can someone finally tell me how the Hero Shield works?

[Jostabeere]

So, I searched everywhere, reddit, internet, forum...
Hero Shield lowers damage players on my team receive if they're over 50%.
But. Does it affect myself? If I play multiplayer alone and assing myself to a team, does it protect me?

 

[ppowersteef]

When you wear the Paladin's shield or it's tinkers, then you'll take a part of damage from other players nearby.
They'll get less damage, but you'll get more.
This effect won't work for yourself. But even if it does, you'll probably take the same amount of damage.