SMQ vs. SHRT
SMQ (Tradr 1X Short Innovation 100 Monthly ETF) and SHRT (Gotham Short Strategies ETF) are both Inverse Equities funds. Both are actively managed. At a 0.40 correlation, their price movements are largely independent. SMQ charges 1.50%/yr vs 1.35%/yr for SHRT.
Performance
SMQ vs. SHRT - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SMQ having a -15.77% return and SHRT slightly lower at -15.80%.
SMQ
- 1D
- 4.62%
- 1M
- -3.50%
- YTD
- -15.77%
- 6M
- -14.26%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHRT
- 1D
- 1.63%
- 1M
- -1.51%
- YTD
- -15.80%
- 6M
- -14.56%
- 1Y
- -19.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMQ vs. SHRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMQ Tradr 1X Short Innovation 100 Monthly ETF | -15.77% | 0.39% |
SHRT Gotham Short Strategies ETF | -15.80% | 1.88% |
Correlation
The correlation between SMQ and SHRT is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 2, 2025 | 0.40 |
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Return for Risk
SMQ vs. SHRT — Risk / Return Rank
SMQ
SHRT
SMQ vs. SHRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and Gotham Short Strategies ETF (SHRT). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| SMQ | SHRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -1.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.47 | -0.74 | -0.73 |
Drawdowns
SMQ vs. SHRT - Drawdown Comparison
The maximum SMQ drawdown since its inception was -27.62%, which is greater than SHRT's maximum drawdown of -25.98%. Use the drawdown chart below to compare losses from any high point for SMQ and SHRT.
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Drawdown Indicators
| SMQ | SHRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.62% | -25.98% | -1.64% |
Max Drawdown (1Y)Largest decline over 1 year | — | -22.73% | — |
Current DrawdownCurrent decline from peak | -23.66% | -24.49% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -8.17% | +0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 10.58% | — |
Volatility
SMQ vs. SHRT - Volatility Comparison
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Volatility by Period
| SMQ | SHRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.18% | 13.16% | +6.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.18% | 12.80% | +6.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 12.80% | +6.38% |
SMQ vs. SHRT - Expense Ratio Comparison
SMQ has a 1.50% expense ratio, which is higher than SHRT's 1.35% expense ratio.
Dividends
SMQ vs. SHRT - Dividend Comparison
SMQ's dividend yield for the trailing twelve months is around 0.29%, more than SHRT's 0.08% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SHRT Gotham Short Strategies ETF | 0.08% | 0.07% | 0.85% | 0.27% |
SMQ Tradr 1X Short Innovation 100 Monthly ETF | 0.29% | 0.25% | 0.00% | 0.00% |
Frequently Asked Questions
SMQ and SHRT have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHRT is cheaper at 1.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHRT is cheaper with a 1.35% expense ratio, compared with 1.50% for SMQ.
SMQ has the higher dividend yield at 0.29%, compared with 0.08% for SHRT.
They also come from different issuers: Tradr and Gotham. Their fees differ too: 1.50% for SMQ and 1.35% for SHRT.
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