SHRT vs. TSLZ

Last updated Jun 4, 2026

SHRT (Gotham Short Strategies ETF) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, SHRT returned -21.72% vs -64.19% for TSLZ. At a 0.33 correlation, their price movements are largely independent. SHRT charges 1.35%/yr vs 1.05%/yr for TSLZ.

Performance

SHRT vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Short Strategies ETF (SHRT) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHRT achieves a -17.20% return, which is significantly lower than TSLZ's -5.69% return.

SHRT

• 1D: 0.32%
• 1M: -4.10%
• YTD: -17.20%
• 6M: -15.30%
• 1Y: -21.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLZ

• 1D: -0.09%
• 1M: -17.84%
• YTD: -5.69%
• 6M: -9.62%
• 1Y: -64.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHRT vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHRT Gotham Short Strategies ETF	-17.20%	-0.91%	-1.44%	-5.83%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	-5.69%	-75.98%	-88.79%	-26.59%

Correlation

The correlation between SHRT and TSLZ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 7, 2023	0.33

Return for Risk

SHRT vs. TSLZ — Risk / Return Rank

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

SHRT

SHRT Risk / Return Rank: 0
SHRT Sharpe Ratio Rank: 0
SHRT Sortino Ratio Rank: 0
SHRT Omega Ratio Rank: 0
SHRT Calmar Ratio Rank: 1
SHRT Martin Ratio Rank: 0

TSLZ

TSLZ Risk / Return Rank: 3
TSLZ Sharpe Ratio Rank: 3
TSLZ Sortino Ratio Rank: 3
TSLZ Omega Ratio Rank: 3
TSLZ Calmar Ratio Rank: 2
TSLZ Martin Ratio Rank: 4

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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Short Strategies ETF (SHRT) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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.

	SHRT	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.67	-0.70	-0.97
Sortino ratio: Return per unit of downside risk	-2.47	-0.94	-1.53
Omega ratio: Gain probability vs. loss probability	0.74	0.90	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.96	-0.84	-0.12
Martin ratio: Return relative to average drawdown	-2.09	-1.06	-1.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHRT vs. TSLZ - Sharpe Ratio Comparison

The current SHRT Sharpe Ratio is -1.67, which is lower than the TSLZ Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of SHRT and TSLZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHRT	TSLZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.67	-0.70	-0.97
Sharpe Ratio (All Time) Calculated using the full available price history	-0.79	-0.67	-0.12

Drawdowns

SHRT vs. TSLZ - Drawdown Comparison

The maximum SHRT drawdown since its inception was -25.98%, smaller than the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for SHRT and TSLZ.

Drawdown Indicators

	SHRT	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-25.98%	-99.11%	+73.13%
Max Drawdown (1Y) Largest decline over 1 year	-22.73%	-76.62%	+53.89%
Current Drawdown Current decline from peak	-25.74%	-99.01%	+73.27%
Average Drawdown Average peak-to-trough decline	-8.12%	-75.36%	+67.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.40%	60.60%	-50.20%

Volatility

SHRT vs. TSLZ - Volatility Comparison

The current volatility for Gotham Short Strategies ETF (SHRT) is 4.29%, while T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a volatility of 24.09%. This indicates that SHRT experiences smaller price fluctuations and is considered to be less risky than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHRT	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	24.09%	-19.80%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	54.94%	-43.98%
Volatility (1Y) Calculated over the trailing 1-year period	13.04%	91.64%	-78.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.78%	117.04%	-104.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.78%	117.04%	-104.26%

SHRT vs. TSLZ - Expense Ratio Comparison

SHRT has a 1.35% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

Dividends

SHRT vs. TSLZ - Dividend Comparison

SHRT's dividend yield for the trailing twelve months is around 0.08%, less than TSLZ's 0.73% yield.

Position	TTM	2025	2024	2023
SHRT Gotham Short Strategies ETF	0.08%	0.07%	0.85%	0.27%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.73%	0.69%	2.08%	12.15%

Frequently Asked Questions

Can I hold both SHRT and TSLZ in my portfolio?

SHRT and TSLZ have a correlation of 0.26, 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 TSLZ?

TSLZ has higher volatility (24.09%) compared to SHRT (4.29%). In terms of maximum drawdown, SHRT dropped -25.98% vs TSLZ's -99.11%.

Which ETF is better, SHRT or TSLZ?

On 1-year performance, SHRT leads with -21.72% vs -64.19% for TSLZ. On fees, TSLZ is cheaper at 1.05% per year. On volatility, SHRT has been the lower-risk option at 4.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHRT or TSLZ?

Over the 1-year period, SHRT has performed better with a -21.72% return vs -64.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHRT or TSLZ?

TSLZ is cheaper with a 1.05% expense ratio, compared with 1.35% for SHRT.

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

TSLZ has the higher dividend yield at 0.73%, compared with 0.08% for SHRT.

What is the main difference between SHRT and TSLZ?

They also come from different issuers: Gotham and T-Rex. Their fees differ too: 1.35% for SHRT and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.70 vs -1.67), 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.