BMNZ vs. SHRT
BMNZ (Defiance Daily Target 2X Short BMNR ETF) and SHRT (Gotham Short Strategies ETF) are both Inverse Equities funds. BMNZ is passively managed, while SHRT is actively managed. At a 0.43 correlation, their price movements are largely independent. BMNZ charges 1.31%/yr vs 1.35%/yr for SHRT.
Performance
BMNZ vs. SHRT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BMNZ achieves a 1.13% return, which is significantly higher than SHRT's -15.80% return.
BMNZ
- 1D
- 22.76%
- 1M
- 77.00%
- YTD
- 1.13%
- 6M
- 35.73%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHRT
- 1D
- 1.63%
- 1M
- -1.51%
- YTD
- -15.80%
- 6M
- -14.56%
- 1Y
- -19.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNZ vs. SHRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 1.13% | -0.49% |
SHRT Gotham Short Strategies ETF | -15.80% | 1.61% |
Correlation
The correlation between BMNZ and SHRT is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025 | 0.43 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BMNZ vs. SHRT — Risk / Return Rank
BMNZ
SHRT
BMNZ vs. SHRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short BMNR ETF (BMNZ) and Gotham Short Strategies ETF (SHRT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Sharpe Ratios by Period
| BMNZ | SHRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | -0.74 | +0.75 |
Drawdowns
BMNZ vs. SHRT - Drawdown Comparison
The maximum BMNZ drawdown since its inception was -70.80%, which is greater than SHRT's maximum drawdown of -25.98%. Use the drawdown chart below to compare losses from any high point for BMNZ and SHRT.
Loading charts...
Drawdown Indicators
| BMNZ | SHRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.80% | -25.98% | -44.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -22.73% | — |
Current DrawdownCurrent decline from peak | -43.38% | -24.49% | -18.89% |
Average DrawdownAverage peak-to-trough decline | -51.56% | -8.17% | -43.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.58% | — |
Volatility
BMNZ vs. SHRT - Volatility Comparison
Loading charts...
Volatility by Period
| BMNZ | SHRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 190.13% | 13.16% | +176.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 190.13% | 12.80% | +177.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 190.13% | 12.80% | +177.33% |
BMNZ vs. SHRT - Expense Ratio Comparison
BMNZ has a 1.31% expense ratio, which is lower than SHRT's 1.35% expense ratio.
Dividends
BMNZ vs. SHRT - Dividend Comparison
BMNZ has not paid dividends to shareholders, while SHRT's dividend yield for the trailing twelve months is around 0.08%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BMNZ Defiance Daily Target 2X Short BMNR ETF | 0.00% | 0.00% | 0.00% | 0.00% |
SHRT Gotham Short Strategies ETF | 0.08% | 0.07% | 0.85% | 0.27% |
Frequently Asked Questions
BMNZ and SHRT have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BMNZ is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BMNZ is cheaper with a 1.31% expense ratio, compared with 1.35% for SHRT.
SHRT has the higher dividend yield at 0.08%, compared with 0.00% for BMNZ.
They also come from different issuers: Defiance and Gotham. Their fees differ too: 1.31% for BMNZ and 1.35% for SHRT.
Find the right allocation for BMNZ and SHRT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer