ELFY vs. SHRT

Last updated Jul 15, 2026

ELFY (ALPS Electrification Infrastructure ETF) and SHRT (Gotham Short Strategies ETF) are both exchange-traded funds - ELFY is a Utilities Equities fund tracking the Ladenburg Thalmann Electrification Infrastructure Index, while SHRT is a Inverse Equities fund actively managed by Gotham. ELFY is passively managed, while SHRT is actively managed. Over the past year, ELFY returned 31.30% vs -17.19% for SHRT. At a correlation of -0.58, they often move in opposite directions. ELFY charges 0.50%/yr vs 1.35%/yr for SHRT.

Performance

ELFY vs. SHRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Electrification Infrastructure ETF (ELFY) and Gotham Short Strategies ETF (SHRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELFY achieves a 21.71% return, which is significantly higher than SHRT's -15.56% return.

ELFY

• 1D: 1.06%
• 1M: -2.58%
• 6M: 16.15%
• YTD: 21.71%
• 1Y: 31.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHRT

• 1D: 0.24%
• 1M: 0.80%
• 6M: -12.70%
• YTD: -15.56%
• 1Y: -17.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ELFY vs. SHRT - Yearly Performance Comparison

	2026 (YTD)	2025
ELFY ALPS Electrification Infrastructure ETF	21.71%	34.72%
SHRT Gotham Short Strategies ETF	-15.56%	-4.15%

Correlation

The correlation between ELFY and SHRT is -0.61, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.61
Correlation (All Time) Calculated using the full available price history since Apr 10, 2025	-0.58

The correlation between ELFY and SHRT has been stable across timeframes, ranging from -0.61 to -0.58 - a consistent structural relationship.

ELFY vs. SHRT - Sectors Allocation Comparison

Sectors	ELFY	SHRT
Utilities	38.1%	0.0%
Industrials	27.5%	12.6%
Energy	16.7%	8.7%
Technology	12.0%	17.3%
Basic Materials	4.7%	18.1%
Consumer Cyclical	0.9%	8.6%
Financial Services	0.1%	3.0%
Communication Services	-	3.0%
Consumer Defensive	-	3.6%
Healthcare	-	10.7%
Real Estate	-	-

Return for Risk

ELFY vs. SHRT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ELFY

ELFY Risk / Return Rank: 65
ELFY Sharpe Ratio Rank: 58
ELFY Sortino Ratio Rank: 55
ELFY Omega Ratio Rank: 52
ELFY Calmar Ratio Rank: 85
ELFY Martin Ratio Rank: 72

SHRT

SHRT Risk / Return Rank: 1
SHRT Sharpe Ratio Rank: 0
SHRT Sortino Ratio Rank: 1
SHRT Omega Ratio Rank: 1
SHRT Calmar Ratio Rank: 3
SHRT Martin Ratio Rank: 0

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ELFY vs. SHRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Electrification Infrastructure ETF (ELFY) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ELFY	SHRT	Difference
Sharpe ratio: Return per unit of total volatility	1.56	-1.23	+2.79
Sortino ratio: Return per unit of downside risk	2.14	-1.79	+3.94
Omega ratio: Gain probability vs. loss probability	1.27	0.80	+0.46
Calmar ratio: Return relative to maximum drawdown	3.76	-0.81	+4.56
Martin ratio: Return relative to average drawdown	10.43	-1.83	+12.26

ELFY vs. SHRT - Sharpe Ratio Comparison

The current ELFY Sharpe Ratio is 1.56, which is higher than the SHRT Sharpe Ratio of -1.23. The chart below compares the historical Sharpe Ratios of ELFY and SHRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ELFY vs. SHRT - Drawdown Comparison

The maximum ELFY drawdown since its inception was -8.37%, smaller than the maximum SHRT drawdown of -27.84%. Use the drawdown chart below to compare losses from any high point for ELFY and SHRT.

Drawdown Indicators

	ELFY	SHRT	Difference
Max Drawdown Largest peak-to-trough decline	-8.37%	-27.84%	+19.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.37%	-21.39%	+13.02%
Current Drawdown Current decline from peak	-6.34%	-24.27%	+17.93%
Average Drawdown Average peak-to-trough decline	-1.80%	-8.79%	+6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	9.41%	-6.40%

Volatility

ELFY vs. SHRT - Volatility Comparison

ALPS Electrification Infrastructure ETF (ELFY) has a higher volatility of 6.59% compared to Gotham Short Strategies ETF (SHRT) at 5.35%. This indicates that ELFY'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.

Volatility by Period

	ELFY	SHRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	5.35%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	16.32%	11.95%	+4.37%
Volatility (1Y) Calculated over the trailing 1-year period	20.17%	14.03%	+6.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.75%	12.98%	+6.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.75%	12.98%	+6.77%

ELFY vs. SHRT - Expense Ratio Comparison

ELFY has a 0.50% expense ratio, which is lower than SHRT's 1.35% expense ratio.

Dividends

ELFY vs. SHRT - Dividend Comparison

ELFY's dividend yield for the trailing twelve months is around 1.01%, more than SHRT's 0.08% yield.

Position	TTM	2025	2024	2023
ELFY ALPS Electrification Infrastructure ETF	1.01%	0.76%	0.00%	0.00%
SHRT Gotham Short Strategies ETF	0.08%	0.07%	0.85%	0.27%

Frequently Asked Questions

Can I hold both ELFY and SHRT in my portfolio?

ELFY and SHRT have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELFY or SHRT?

ELFY has higher volatility (6.59%) compared to SHRT (5.35%). In terms of maximum drawdown, ELFY dropped -8.37% vs SHRT's -27.84%.

Which ETF is better, ELFY or SHRT?

On 1-year performance, ELFY leads with 31.30% vs -17.19% for SHRT. On fees, ELFY is cheaper at 0.50% per year. On volatility, SHRT has been the lower-risk option at 5.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ELFY or SHRT?

Over the 1-year period, ELFY has performed better with a 31.30% return vs -17.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ELFY or SHRT?

ELFY is cheaper with a 0.50% expense ratio, compared with 1.35% for SHRT.

Which ETF pays a higher dividend yield, ELFY or SHRT?

ELFY has the higher dividend yield at 1.01%, compared with 0.08% for SHRT.

What is the main difference between ELFY and SHRT?

ELFY is categorized as Utilities Equities, while SHRT is Inverse Equities. They also come from different issuers: ALPS and Gotham. Their fees differ too: 0.50% for ELFY and 1.35% for SHRT.

Which has better risk-adjusted returns?

ELFY currently has the higher Sharpe Ratio (1.56 vs -1.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.