Correlation
The correlation between SHRT and SPY is -0.56. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
SHRT vs. SPY
Compare and contrast key facts about Gotham Short Strategies ETF (SHRT) and SPDR S&P 500 ETF (SPY).
SHRT and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHRT is an actively managed fund by Gotham. It was launched on Jul 31, 2017. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHRT or SPY.
Performance
SHRT vs. SPY - Performance Comparison
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Key characteristics
SHRT:
0.08
SPY:
0.70
SHRT:
0.33
SPY:
1.02
SHRT:
1.04
SPY:
1.15
SHRT:
0.17
SPY:
0.68
SHRT:
0.33
SPY:
2.57
SHRT:
6.49%
SPY:
4.93%
SHRT:
13.87%
SPY:
20.42%
SHRT:
-12.31%
SPY:
-55.19%
SHRT:
-4.55%
SPY:
-3.55%
Returns By Period
In the year-to-date period, SHRT achieves a 5.46% return, which is significantly higher than SPY's 0.87% return.
SHRT
5.46%
1.57%
8.77%
1.17%
N/A
N/A
N/A
SPY
0.87%
5.54%
-1.56%
13.18%
14.25%
15.81%
12.73%
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SHRT vs. SPY - Expense Ratio Comparison
SHRT has a 1.35% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
SHRT vs. SPY — Risk-Adjusted Performance Rank
SHRT
SPY
SHRT vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Gotham Short Strategies ETF (SHRT) and SPDR S&P 500 ETF (SPY). 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.
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Dividends
SHRT vs. SPY - Dividend Comparison
SHRT's dividend yield for the trailing twelve months is around 0.80%, less than SPY's 1.22% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHRT Gotham Short Strategies ETF | 0.80% | 0.85% | 0.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.22% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
SHRT vs. SPY - Drawdown Comparison
The maximum SHRT drawdown since its inception was -12.31%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SHRT and SPY.
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Volatility
SHRT vs. SPY - Volatility Comparison
The current volatility for Gotham Short Strategies ETF (SHRT) is 3.52%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.86%. This indicates that SHRT experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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