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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Gotham Short Strategies ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Gotham Short Strategies ETF (SHRT) has returned -2.73% so far this year and -8.89% over the past 12 months.
Gotham Short Strategies ETF
- 1D
- -1.51%
- 1M
- 4.54%
- YTD
- -2.73%
- 6M
- -1.63%
- 1Y
- -8.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Nov 6, 2023, SHRT's average daily return is -0.02%, while the average monthly return is -0.34%.
Historically, 45% of months were positive and 55% were negative. The best month was Jul 2024 with a return of +5.9%, while the worst month was Nov 2024 at -7.1%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, SHRT closed higher 46% of trading days. The best single day was Apr 15, 2025 with a return of +4.4%, while the worst single day was Nov 6, 2024 at -4.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -3.02% | -4.06% | 4.54% | -2.73% | |||||||||
| 2025 | 1.69% | 0.64% | 3.37% | -1.84% | 1.56% | -1.23% | -4.56% | -0.66% | -0.79% | -3.38% | 1.86% | 2.77% | -0.91% |
| 2024 | 3.18% | -1.38% | 1.21% | 1.63% | -1.85% | -3.22% | 5.93% | -0.35% | 1.61% | -3.53% | -7.12% | 3.14% | -1.44% |
| 2023 | -2.15% | -3.76% | -5.83% |
Benchmark Metrics
Gotham Short Strategies ETF has an annualized alpha of 4.51%, beta of -0.46, and R² of 0.32 versus S&P 500 Index. Calculated based on daily prices since November 07, 2023.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -33.99%), but participation in market rallies was also limited (-21.85%) — a profile typical of counter-cyclical assets.
- Beta of -0.46 may look defensive, but with R² of 0.32 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.32 means the benchmark explains less than half of this ETF's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 4.51%
- Beta
- -0.46
- R²
- 0.32
- Upside Capture
- -21.85%
- Downside Capture
- -33.99%
Expense Ratio
SHRT has a high expense ratio of 1.35%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SHRT ranks 3 for risk / return — in the bottom 3% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Gotham Short Strategies ETF (SHRT) and compare them to a chosen benchmark (S&P 500 Index).
| SHRT | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.61 | 0.90 | -1.51 |
Sortino ratioReturn per unit of downside risk | -0.84 | 1.39 | -2.22 |
Omega ratioGain probability vs. loss probability | 0.91 | 1.21 | -0.31 |
Calmar ratioReturn relative to maximum drawdown | -0.49 | 1.40 | -1.89 |
Martin ratioReturn relative to average drawdown | -0.89 | 6.61 | -7.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore SHRT risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Gotham Short Strategies ETF provided a 0.07% dividend yield over the last twelve months, with an annual payout of $0.01 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.01 | $0.01 | $0.07 | $0.02 |
Dividend yield | 0.07% | 0.07% | 0.85% | 0.27% |
Monthly Dividends
The table displays the monthly dividend distributions for Gotham Short Strategies ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.07 |
| 2023 | $0.02 | $0.02 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Gotham Short Strategies ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Gotham Short Strategies ETF was 18.97%, occurring on Feb 25, 2026. The portfolio has not yet recovered.
The current Gotham Short Strategies ETF drawdown is 12.77%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.97% | Aug 6, 2024 | 390 | Feb 25, 2026 | — | — | — |
| -7.34% | Apr 22, 2024 | 53 | Jul 8, 2024 | 20 | Aug 5, 2024 | 73 |
| -6.52% | Nov 7, 2023 | 36 | Dec 28, 2023 | 77 | Apr 19, 2024 | 113 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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