QQQP vs. SHRT

Last updated Jul 14, 2026

QQQP (Tradr 2X Long Triple Q Quarterly ETF) and SHRT (Gotham Short Strategies ETF) are both exchange-traded funds - QQQP is a Leveraged Equities fund actively managed by Tradr, while SHRT is a Inverse Equities fund actively managed by Gotham. Both are actively managed. Over the past year, QQQP returned 47.44% vs -16.96% for SHRT. At a correlation of -0.51, they often move in opposite directions. QQQP charges 1.30%/yr vs 1.35%/yr for SHRT.

Performance

QQQP vs. SHRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long Triple Q Quarterly ETF (QQQP) 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, QQQP achieves a 24.11% return, which is significantly higher than SHRT's -15.76% return.

QQQP

• 1D: -3.72%
• 1M: -3.56%
• 6M: 19.17%
• YTD: 24.11%
• 1Y: 47.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHRT

• 1D: -0.16%
• 1M: 0.56%
• 6M: -13.08%
• YTD: -15.76%
• 1Y: -16.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQP vs. SHRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQP Tradr 2X Long Triple Q Quarterly ETF	24.11%	30.21%	9.30%
SHRT Gotham Short Strategies ETF	-15.76%	-0.91%	-7.58%

Correlation

The correlation between QQQP and SHRT is -0.47, 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	-0.47
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	-0.51

The correlation between QQQP and SHRT has been stable across timeframes, ranging from -0.51 to -0.47 - a consistent structural relationship.

Return for Risk

QQQP vs. SHRT — Risk / Return Rank

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

QQQP

QQQP Risk / Return Rank: 46
QQQP Sharpe Ratio Rank: 48
QQQP Sortino Ratio Rank: 45
QQQP Omega Ratio Rank: 44
QQQP Calmar Ratio Rank: 47
QQQP Martin Ratio Rank: 48

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.

QQQP vs. SHRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Triple Q Quarterly ETF (QQQP) 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.

	QQQP	SHRT	Difference
Sharpe ratio: Return per unit of total volatility	1.34	-1.21	+2.55
Sortino ratio: Return per unit of downside risk	1.84	-1.77	+3.61
Omega ratio: Gain probability vs. loss probability	1.23	0.81	+0.42
Calmar ratio: Return relative to maximum drawdown	1.88	-0.80	+2.68
Martin ratio: Return relative to average drawdown	6.57	-1.82	+8.39

QQQP vs. SHRT - Sharpe Ratio Comparison

The current QQQP Sharpe Ratio is 1.34, which is higher than the SHRT Sharpe Ratio of -1.21. The chart below compares the historical Sharpe Ratios of QQQP 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

QQQP vs. SHRT - Drawdown Comparison

The maximum QQQP drawdown since its inception was -42.50%, which is greater than SHRT's maximum drawdown of -27.84%. Use the drawdown chart below to compare losses from any high point for QQQP and SHRT.

Drawdown Indicators

	QQQP	SHRT	Difference
Max Drawdown Largest peak-to-trough decline	-42.50%	-27.84%	-14.66%
Max Drawdown (1Y) Largest decline over 1 year	-25.35%	-21.39%	-3.96%
Current Drawdown Current decline from peak	-8.96%	-24.45%	+15.49%
Average Drawdown Average peak-to-trough decline	-7.25%	-8.76%	+1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.24%	9.35%	-2.11%

Volatility

QQQP vs. SHRT - Volatility Comparison

Tradr 2X Long Triple Q Quarterly ETF (QQQP) has a higher volatility of 14.77% compared to Gotham Short Strategies ETF (SHRT) at 5.38%. This indicates that QQQP'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

	QQQP	SHRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.77%	5.38%	+9.39%
Volatility (6M) Calculated over the trailing 6-month period	28.96%	12.02%	+16.94%
Volatility (1Y) Calculated over the trailing 1-year period	35.67%	14.05%	+21.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.38%	12.99%	+31.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.38%	12.99%	+31.39%

QQQP vs. SHRT - Expense Ratio Comparison

QQQP has a 1.30% expense ratio, which is lower than SHRT's 1.35% expense ratio.

Dividends

QQQP vs. SHRT - Dividend Comparison

QQQP 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
QQQP Tradr 2X Long Triple Q Quarterly 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

Can I hold both QQQP and SHRT in my portfolio?

QQQP and SHRT have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQP or SHRT?

QQQP has higher volatility (14.77%) compared to SHRT (5.38%). In terms of maximum drawdown, QQQP dropped -42.50% vs SHRT's -27.84%.

Which ETF is better, QQQP or SHRT?

On 1-year performance, QQQP leads with 47.44% vs -16.96% for SHRT. On fees, QQQP is cheaper at 1.30% per year. On volatility, SHRT has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQP or SHRT?

Over the 1-year period, QQQP has performed better with a 47.44% return vs -16.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQP or SHRT?

QQQP is cheaper with a 1.30% expense ratio, compared with 1.35% for SHRT.

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

SHRT has the higher dividend yield at 0.08%, compared with 0.00% for QQQP.

What is the main difference between QQQP and SHRT?

QQQP is categorized as Leveraged Equities, while SHRT is Inverse Equities. They also come from different issuers: Tradr and Gotham. Their fees differ too: 1.30% for QQQP and 1.35% for SHRT.

Which has better risk-adjusted returns?

QQQP currently has the higher Sharpe Ratio (1.34 vs -1.21), 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.