SHRT vs. SOXL
SHRT (Gotham Short Strategies ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - SHRT is a Inverse Equities fund actively managed by Gotham, while SOXL is a Leveraged Equities fund tracking the NYSE Semiconductor Index. SHRT is actively managed, while SOXL is passively managed. Over the past year, SHRT returned -14.77% vs 376.55% for SOXL. Their -0.54 correlation means they have often moved in opposite directions in the past. SHRT charges 1.35%/yr vs 0.75%/yr for SOXL.
Performance
SHRT vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, SHRT achieves a -13.36% return, which is significantly lower than SOXL's 172.95% return.
SHRT
- 1D
- -1.46%
- 1M
- 3.02%
- 6M
- -10.67%
- YTD
- -13.36%
- 1Y
- -14.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -7.86%
SOXL
- 1D
- 0.00%
- 1M
- -36.78%
- 6M
- 85.66%
- YTD
- 172.95%
- 1Y
- 376.55%
- 3Y*
- 60.01%
- 5Y*
- 21.65%
- 10Y*
- 48.63%
- ALL TIME*
- 38.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $274.06K | $138.24K | $73.72K | |
| $10.60B | $10.77B | $11.72B |
SHRT vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SHRT Gotham Short Strategies ETF | -13.36% | -0.91% | -1.44% | -5.51% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 172.95% | 54.91% | -12.31% | 71.22% |
Correlation
The correlation between SHRT and SOXL is -0.56, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.57 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023 | -0.54 |
The correlation between SHRT and SOXL has been stable across timeframes, ranging from -0.56 to -0.54 - a consistent structural relationship.
SHRT vs. SOXL - Sectors Allocation Comparison
Sectors
SHRT
SOXL
Basic Materials
-
Technology
Industrials
-
Consumer Cyclical
-
Healthcare
-
Consumer Defensive
-
Energy
-
Communication Services
-
Financial Services
-
Utilities
-
Real Estate
-
-
Basic Materials
SHRT
SOXL
-
Technology
SHRT
SOXL
Industrials
SHRT
SOXL
-
Consumer Cyclical
SHRT
SOXL
-
Healthcare
SHRT
SOXL
-
Consumer Defensive
SHRT
SOXL
-
Energy
SHRT
SOXL
-
Communication Services
SHRT
SOXL
-
Financial Services
SHRT
SOXL
-
Utilities
SHRT
SOXL
-
Real Estate
SHRT
-
SOXL
-
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Return for Risk
SHRT vs. SOXL — Risk / Return Rank
SHRT
SOXL
SHRT vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gotham Short Strategies ETF (SHRT) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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 | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.74 | ||
| Sortino ratioReturn per unit of downside risk | -4.08 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.36 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 5.22 | -5.86 |
| Martin ratioReturn relative to average drawdown | -1.38 | 18.04 | -19.43 |
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Drawdowns
SHRT vs. SOXL - Drawdown Comparison
The maximum SHRT drawdown since its inception was -27.84%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SHRT and SOXL.
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Drawdown Indicators
| SHRT | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.84% | -90.46% | +62.62% |
Max Drawdown (1Y)Largest decline over 1 year | -21.19% | -69.42% | +48.23% |
Max Drawdown (3Y)Largest decline over 3 years | — | -87.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -22.30% | -61.86% | +39.56% |
Average DrawdownAverage peak-to-trough decline | -9.05% | -35.00% | +25.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.88% | 20.04% | -10.16% |
Volatility
SHRT vs. SOXL - Volatility Comparison
The current volatility for Gotham Short Strategies ETF (SHRT) is 3.36%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 52.68%. This indicates that SHRT experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHRT | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 52.68% | -49.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.13% | 115.51% | -103.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.17% | 130.99% | -116.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.98% | 113.21% | -100.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.98% | 102.11% | -89.13% |
SHRT vs. SOXL - Expense Ratio Comparison
SHRT has a 1.35% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
SHRT vs. SOXL - Dividend Comparison
SHRT's dividend yield for the trailing twelve months is around 0.08%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SHRT Gotham Short Strategies ETF | 0.08% | 0.07% | 0.85% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.01% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
SHRT and SOXL have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (52.68%) compared to SHRT (3.36%). In terms of maximum drawdown, SHRT dropped -27.84% vs SOXL's -90.46%.
On 1-year performance, SOXL leads with 376.55% vs -14.77% for SHRT. On fees, SOXL is cheaper at 0.75% per year. On volatility, SHRT has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SOXL has performed better with a 376.55% return vs -14.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 1.35% for SHRT.
SHRT has the higher dividend yield at 0.08%, compared with 0.01% for SOXL.
SHRT is categorized as Inverse Equities, while SOXL is Leveraged Equities. They also come from different issuers: Gotham and Direxion. Their fees differ too: 1.35% for SHRT and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (2.77 vs -0.97), 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.
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