DRIP vs. SHRT
Compare and contrast key facts about Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and Gotham Short Strategies ETF (SHRT).
DRIP and SHRT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DRIP is a passively managed fund by Direxion that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry Index (-300%). It was launched on Apr 1, 2020. SHRT is an actively managed fund by Gotham. It was launched on Jul 31, 2017.
Performance
DRIP vs. SHRT - Performance Comparison
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DRIP vs. SHRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -53.90% | -14.81% | 1.27% | 7.96% |
SHRT Gotham Short Strategies ETF | -2.73% | -0.91% | -1.44% | -5.83% |
Returns By Period
In the year-to-date period, DRIP achieves a -53.90% return, which is significantly lower than SHRT's -2.73% return.
DRIP
- 1D
- 4.02%
- 1M
- -30.07%
- YTD
- -53.90%
- 6M
- -51.15%
- 1Y
- -60.00%
- 3Y*
- -31.92%
- 5Y*
- -46.13%
- 10Y*
- -47.04%
SHRT
- 1D
- -1.51%
- 1M
- 4.54%
- YTD
- -2.73%
- 6M
- -1.63%
- 1Y
- -8.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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DRIP vs. SHRT - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is lower than SHRT's 1.35% expense ratio.
Return for Risk
DRIP vs. SHRT — Risk / Return Rank
DRIP
SHRT
DRIP vs. SHRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
| DRIP | SHRT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.90 | -0.61 | -0.29 |
Sortino ratioReturn per unit of downside risk | -1.52 | -0.84 | -0.68 |
Omega ratioGain probability vs. loss probability | 0.83 | 0.91 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | -0.80 | -0.49 | -0.31 |
Martin ratioReturn relative to average drawdown | -1.30 | -0.89 | -0.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DRIP | SHRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.90 | -0.61 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.67 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -0.36 | -0.06 |
Correlation
The correlation between DRIP and SHRT is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
DRIP vs. SHRT - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 4.28%, more than SHRT's 0.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 4.28% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
SHRT Gotham Short Strategies ETF | 0.07% | 0.07% | 0.85% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DRIP vs. SHRT - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than SHRT's maximum drawdown of -18.97%. Use the drawdown chart below to compare losses from any high point for DRIP and SHRT.
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Drawdown Indicators
| DRIP | SHRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -18.97% | -80.98% |
Max Drawdown (1Y)Largest decline over 1 year | -76.02% | -17.65% | -58.37% |
Max Drawdown (5Y)Largest decline over 5 years | -96.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | — | — |
Current DrawdownCurrent decline from peak | -99.94% | -12.77% | -87.17% |
Average DrawdownAverage peak-to-trough decline | -90.30% | -7.21% | -83.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.55% | 9.62% | +36.93% |
Volatility
DRIP vs. SHRT - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 14.57% compared to Gotham Short Strategies ETF (SHRT) at 6.06%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than SHRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | SHRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.57% | 6.06% | +8.51% |
Volatility (6M)Calculated over the trailing 6-month period | 38.68% | 10.51% | +28.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.53% | 14.59% | +51.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.89% | 12.66% | +56.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.12% | 12.66% | +84.46% |