TSDD vs. SHRT

Last updated Jun 24, 2026

TSDD (GraniteShares 2x Short TSLA Daily ETF) and SHRT (Gotham Short Strategies ETF) are both Inverse Equities funds. Both are actively managed. Over the past year, TSDD returned -50.11% vs -21.39% for SHRT. At a 0.33 correlation, their price movements are largely independent. TSDD charges 1.50%/yr vs 1.35%/yr for SHRT.

Performance

TSDD vs. SHRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Short TSLA Daily ETF (TSDD) and Gotham Short Strategies ETF (SHRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSDD achieves a 12.81% return, which is significantly higher than SHRT's -16.28% return.

TSDD

• 1D: 11.65%
• 1M: 18.16%
• YTD: 12.81%
• 6M: 31.20%
• 1Y: -50.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHRT

• 1D: -0.05%
• 1M: -0.43%
• YTD: -16.28%
• 6M: -15.63%
• 1Y: -21.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSDD vs. SHRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSDD GraniteShares 2x Short TSLA Daily ETF	12.81%	-74.84%	-89.21%	-19.43%
SHRT Gotham Short Strategies ETF	-16.28%	-0.91%	-1.44%	-5.51%

Correlation

The correlation between TSDD and SHRT is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.33

TSDD vs. SHRT - Sectors Allocation Comparison

Sectors	TSDD	SHRT
Consumer Cyclical	200.1%	10.2%
Basic Materials	-	25.3%
Communication Services	-	5.6%
Consumer Defensive	-	5.5%
Energy	-	8.6%
Financial Services	-	0.6%
Healthcare	-	14.0%
Industrials	-	18.3%
Real Estate	-	-
Technology	-	12.4%
Utilities	-	0.1%

Return for Risk

TSDD vs. SHRT — Risk / Return Rank

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

TSDD

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

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

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.

TSDD vs. SHRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short TSLA Daily ETF (TSDD) 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.

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.

	TSDD	SHRT	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	-1.60	+1.02
Sortino ratio: Return per unit of downside risk	-0.50	-2.37	+1.88
Omega ratio: Gain probability vs. loss probability	0.95	0.75	+0.20
Calmar ratio: Return relative to maximum drawdown	-0.69	-0.97	+0.27
Martin ratio: Return relative to average drawdown	-0.89	-1.96	+1.07

TSDD vs. SHRT - Sharpe Ratio Comparison

The current TSDD Sharpe Ratio is -0.57, which is higher than the SHRT Sharpe Ratio of -1.60. The chart below compares the historical Sharpe Ratios of TSDD and SHRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TSDD vs. SHRT - Drawdown Comparison

The maximum TSDD drawdown since its inception was -99.03%, which is greater than SHRT's maximum drawdown of -25.98%. Use the drawdown chart below to compare losses from any high point for TSDD and SHRT.

Drawdown Indicators

	TSDD	SHRT	Difference
Max Drawdown Largest peak-to-trough decline	-99.03%	-25.98%	-73.05%
Max Drawdown (1Y) Largest decline over 1 year	-72.39%	-22.21%	-50.18%
Current Drawdown Current decline from peak	-98.71%	-24.92%	-73.79%
Average Drawdown Average peak-to-trough decline	-71.62%	-8.43%	-63.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.48%	11.24%	+45.24%

Volatility

TSDD vs. SHRT - Volatility Comparison

GraniteShares 2x Short TSLA Daily ETF (TSDD) has a higher volatility of 27.76% compared to Gotham Short Strategies ETF (SHRT) at 4.21%. This indicates that TSDD's price experiences larger fluctuations and is considered to be riskier than SHRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSDD	SHRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.76%	4.21%	+23.55%
Volatility (6M) Calculated over the trailing 6-month period	56.76%	11.34%	+45.42%
Volatility (1Y) Calculated over the trailing 1-year period	89.21%	13.44%	+75.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.32%	12.82%	+101.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.32%	12.82%	+101.50%

TSDD vs. SHRT - Expense Ratio Comparison

TSDD has a 1.50% expense ratio, which is higher than SHRT's 1.35% expense ratio.

Dividends

TSDD vs. SHRT - Dividend Comparison

TSDD's dividend yield for the trailing twelve months is around 7.47%, 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%
TSDD GraniteShares 2x Short TSLA Daily ETF	7.47%	8.42%	0.00%	24.84%

Frequently Asked Questions

Can I hold both TSDD and SHRT in my portfolio?

TSDD and SHRT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSDD or SHRT?

TSDD has higher volatility (27.76%) compared to SHRT (4.21%). In terms of maximum drawdown, TSDD dropped -99.03% vs SHRT's -25.98%.

Which ETF is better, TSDD or SHRT?

On 1-year performance, SHRT leads with -21.39% vs -50.11% for TSDD. On fees, SHRT is cheaper at 1.35% per year. On volatility, SHRT has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSDD or SHRT?

Over the 1-year period, SHRT has performed better with a -21.39% return vs -50.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSDD or SHRT?

SHRT is cheaper with a 1.35% expense ratio, compared with 1.50% for TSDD.

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

TSDD has the higher dividend yield at 7.47%, compared with 0.08% for SHRT.

What is the main difference between TSDD and SHRT?

They also come from different issuers: GraniteShares and Gotham. Their fees differ too: 1.50% for TSDD and 1.35% for SHRT.

Which has better risk-adjusted returns?

TSDD currently has the higher Sharpe Ratio (-0.57 vs -1.60), 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.