SHRT vs. YCS

Last updated Apr 1, 2026

Compare and contrast key facts about Gotham Short Strategies ETF (SHRT) and ProShares UltraShort Yen (YCS).

SHRT and YCS 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. YCS is a passively managed fund by ProShares that tracks the performance of the USD/JPY Exchange Rate (-200%). It was launched on Nov 25, 2008.

Performance

SHRT vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Short Strategies ETF (SHRT) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

SHRT vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHRT Gotham Short Strategies ETF	-2.73%	-0.91%	-1.44%	-5.83%
YCS ProShares UltraShort Yen	4.09%	9.04%	35.41%	-10.10%

Returns By Period

In the year-to-date period, SHRT achieves a -2.73% return, which is significantly lower than YCS's 4.09% return.

SHRT

• 1D: -1.51%
• 1M: 4.54%
• YTD: -2.73%
• 6M: -1.63%
• 1Y: -8.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: -1.38%
• 1M: 3.58%
• YTD: 4.09%
• 6M: 18.84%
• 1Y: 19.59%
• 3Y*: 23.69%
• 5Y*: 22.26%
• 10Y*: 10.90%

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

SHRT vs. YCS - Expense Ratio Comparison

SHRT has a 1.35% expense ratio, which is higher than YCS's 1.00% expense ratio.

SHRT

Gotham Short Strategies ETF

YCS

ProShares UltraShort Yen

Return for Risk

SHRT vs. YCS — Risk / Return Rank

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

SHRT

SHRT Risk / Return Rank: 3
SHRT Sharpe Ratio Rank: 3
SHRT Sortino Ratio Rank: 2
SHRT Omega Ratio Rank: 3
SHRT Calmar Ratio Rank: 4
SHRT Martin Ratio Rank: 5

YCS

YCS Risk / Return Rank: 54
YCS Sharpe Ratio Rank: 54
YCS Sortino Ratio Rank: 53
YCS Omega Ratio Rank: 48
YCS Calmar Ratio Rank: 67
YCS Martin Ratio Rank: 49

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. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Short Strategies ETF (SHRT) and ProShares UltraShort Yen (YCS). 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	YCS	Difference
Sharpe ratio Return per unit of total volatility	-0.61	0.94	-1.56
Sortino ratio Return per unit of downside risk	-0.84	1.36	-2.19
Omega ratio Gain probability vs. loss probability	0.91	1.18	-0.27
Calmar ratio Return relative to maximum drawdown	-0.49	1.67	-2.15
Martin ratio Return relative to average drawdown	-0.89	4.52	-5.42
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. YCS - Sharpe Ratio Comparison

The current SHRT Sharpe Ratio is -0.61, which is lower than the YCS Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of SHRT and YCS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHRT	YCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	0.94	-1.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.07	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.36	0.32	-0.69

Correlation

The correlation between SHRT and YCS is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SHRT vs. YCS - Dividend Comparison

SHRT's dividend yield for the trailing twelve months is around 0.07%, while YCS has not paid dividends to shareholders.

	TTM	2025	2024	2023
SHRT Gotham Short Strategies ETF	0.07%	0.07%	0.85%	0.27%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%	0.00%

Drawdowns

SHRT vs. YCS - Drawdown Comparison

The maximum SHRT drawdown since its inception was -18.97%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for SHRT and YCS.

Drawdown Indicators

	SHRT	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-49.56%	+30.59%
Max Drawdown (1Y) Largest decline over 1 year	-17.65%	-12.07%	-5.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-12.77%	-1.87%	-10.90%
Average Drawdown Average peak-to-trough decline	-7.21%	-20.12%	+12.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.62%	4.45%	+5.17%

Volatility

SHRT vs. YCS - Volatility Comparison

Gotham Short Strategies ETF (SHRT) has a higher volatility of 6.06% compared to ProShares UltraShort Yen (YCS) at 4.81%. This indicates that SHRT's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHRT	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	4.81%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	10.51%	12.33%	-1.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.59%	20.84%	-6.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.66%	20.93%	-8.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.66%	19.23%	-6.57%