ERY vs. SHRT
Compare and contrast key facts about Direxion Daily Energy Bear 2X Shares (ERY) and Gotham Short Strategies ETF (SHRT).
ERY and SHRT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ERY is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector 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
ERY vs. SHRT - Performance Comparison
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ERY vs. SHRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -44.19% | -18.54% | -5.58% | 3.75% |
SHRT Gotham Short Strategies ETF | -2.63% | -0.91% | -1.44% | -5.83% |
Returns By Period
In the year-to-date period, ERY achieves a -44.19% return, which is significantly lower than SHRT's -2.63% return.
ERY
- 1D
- 7.30%
- 1M
- -8.10%
- YTD
- -44.19%
- 6M
- -44.94%
- 1Y
- -44.52%
- 3Y*
- -26.22%
- 5Y*
- -40.95%
- 10Y*
- -36.24%
SHRT
- 1D
- 0.11%
- 1M
- 5.78%
- YTD
- -2.63%
- 6M
- -0.67%
- 1Y
- -8.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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ERY vs. SHRT - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is lower than SHRT's 1.35% expense ratio.
Return for Risk
ERY vs. SHRT — Risk / Return Rank
ERY
SHRT
ERY vs. SHRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) 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.
| ERY | SHRT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.90 | -0.57 | -0.33 |
Sortino ratioReturn per unit of downside risk | -1.40 | -0.77 | -0.63 |
Omega ratioGain probability vs. loss probability | 0.84 | 0.91 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.50 | -0.19 |
Martin ratioReturn relative to average drawdown | -1.32 | -0.91 | -0.40 |
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
| ERY | SHRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.90 | -0.57 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.79 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | -0.36 | -0.19 |
Correlation
The correlation between ERY and SHRT is 0.21, 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
ERY vs. SHRT - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.73%, more than SHRT's 0.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.73% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
SHRT Gotham Short Strategies ETF | 0.07% | 0.07% | 0.85% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ERY vs. SHRT - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than SHRT's maximum drawdown of -18.97%. Use the drawdown chart below to compare losses from any high point for ERY and SHRT.
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Drawdown Indicators
| ERY | SHRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -18.97% | -81.02% |
Max Drawdown (1Y)Largest decline over 1 year | -65.95% | -17.65% | -48.30% |
Max Drawdown (5Y)Largest decline over 5 years | -94.36% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -12.67% | -87.32% |
Average DrawdownAverage peak-to-trough decline | -96.89% | -7.22% | -89.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.29% | 9.64% | +24.65% |
Volatility
ERY vs. SHRT - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 12.55% compared to Gotham Short Strategies ETF (SHRT) at 5.62%. This indicates that ERY'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
| ERY | SHRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.55% | 5.62% | +6.93% |
Volatility (6M)Calculated over the trailing 6-month period | 28.79% | 10.51% | +18.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.79% | 14.59% | +35.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.11% | 12.65% | +39.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.72% | 12.65% | +58.07% |