SHRT vs. SKRE

Last updated Jul 17, 2026

SHRT (Gotham Short Strategies ETF) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds. SHRT is actively managed, while SKRE is passively managed. Over the past year, SHRT returned -17.31% vs -46.37% for SKRE. At a 0.27 correlation, their price movements are largely independent. SHRT charges 1.35%/yr vs 0.75%/yr for SKRE.

Performance

SHRT vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Short Strategies ETF (SHRT) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHRT achieves a -15.36% return, which is significantly higher than SKRE's -36.29% return.

SHRT

• 1D: -0.23%
• 1M: -0.84%
• 6M: -11.10%
• YTD: -15.36%
• 1Y: -17.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SKRE

• 1D: -5.25%
• 1M: -14.79%
• 6M: -29.24%
• YTD: -36.29%
• 1Y: -46.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHRT vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SHRT Gotham Short Strategies ETF	-15.36%	-0.91%	-4.01%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-36.29%	-31.29%	-44.47%

Correlation

The correlation between SHRT and SKRE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024	0.27

Return for Risk

SHRT vs. SKRE — Risk / Return Rank

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

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: 2
SHRT Martin Ratio Rank: 0

SKRE

SKRE Risk / Return Rank: 1
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 2
SKRE Omega Ratio Rank: 2
SKRE Calmar Ratio Rank: 1
SKRE 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.

SHRT vs. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Short Strategies ETF (SHRT) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.

	SHRT	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	-1.24	-1.01	-0.23
Sortino ratio: Return per unit of downside risk	-1.81	-1.55	-0.26
Omega ratio: Gain probability vs. loss probability	0.80	0.82	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.82	-0.90	+0.08
Martin ratio: Return relative to average drawdown	-1.85	-1.61	-0.24

SHRT vs. SKRE - Sharpe Ratio Comparison

The current SHRT Sharpe Ratio is -1.24, which is comparable to the SKRE Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of SHRT and SKRE, 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

SHRT vs. SKRE - Drawdown Comparison

The maximum SHRT drawdown since its inception was -27.84%, smaller than the maximum SKRE drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for SHRT and SKRE.

Drawdown Indicators

	SHRT	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-27.84%	-79.33%	+51.49%
Max Drawdown (1Y) Largest decline over 1 year	-21.19%	-51.44%	+30.25%
Current Drawdown Current decline from peak	-24.09%	-79.33%	+55.24%
Average Drawdown Average peak-to-trough decline	-8.83%	-48.53%	+39.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.53%	28.81%	-19.28%

Volatility

SHRT vs. SKRE - Volatility Comparison

The current volatility for Gotham Short Strategies ETF (SHRT) is 5.37%, while Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a volatility of 11.56%. This indicates that SHRT experiences smaller price fluctuations and is considered to be less risky than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHRT	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	11.56%	-6.19%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	32.58%	-20.64%
Volatility (1Y) Calculated over the trailing 1-year period	14.02%	46.09%	-32.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	55.12%	-42.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.97%	55.12%	-42.15%

SHRT vs. SKRE - Expense Ratio Comparison

SHRT has a 1.35% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

SHRT vs. SKRE - Dividend Comparison

SHRT's dividend yield for the trailing twelve months is around 0.08%, less than SKRE's 0.40% yield.

Position	TTM	2025	2024	2023
SHRT Gotham Short Strategies ETF	0.08%	0.07%	0.85%	0.27%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.40%	0.26%	3.16%	0.00%

Frequently Asked Questions

Can I hold both SHRT and SKRE in my portfolio?

SHRT and SKRE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHRT or SKRE?

SKRE has higher volatility (11.56%) compared to SHRT (5.37%). In terms of maximum drawdown, SHRT dropped -27.84% vs SKRE's -79.33%.

Which ETF is better, SHRT or SKRE?

On 1-year performance, SHRT leads with -17.31% vs -46.37% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, SHRT has been the lower-risk option at 5.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHRT or SKRE?

Over the 1-year period, SHRT has performed better with a -17.31% return vs -46.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHRT or SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 1.35% for SHRT.

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

SKRE has the higher dividend yield at 0.40%, compared with 0.08% for SHRT.

What is the main difference between SHRT and SKRE?

They also come from different issuers: Gotham and Tuttle. Their fees differ too: 1.35% for SHRT and 0.75% for SKRE.

Which has better risk-adjusted returns?

SKRE currently has the higher Sharpe Ratio (-1.01 vs -1.24), 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.