WTID vs. SHRT

Last updated Aug 4, 2026

WTID (MicroSectors Energy -3X Inverse Leveraged ETN) and SHRT (Gotham Short Strategies ETF) are both Inverse Equities funds. WTID is passively managed, while SHRT is actively managed. Over the past year, WTID returned -74.04% vs -15.96% for SHRT. Their 0.15 correlation means their historical movements had little consistent relationship. WTID charges 0.95%/yr vs 1.35%/yr for SHRT.

Performance

WTID vs. SHRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Energy -3X Inverse Leveraged ETN (WTID) 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, WTID achieves a -67.32% return, which is significantly lower than SHRT's -14.58% return.

WTID

• 1D: 4.70%
• 1M: -32.80%
• 6M: -56.78%
• YTD: -67.32%
• 1Y: -74.04%
• 3Y*: -45.60%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -43.47%

SHRT

• 1D: -1.40%
• 1M: 1.58%
• 6M: -12.27%
• YTD: -14.58%
• 1Y: -15.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -8.31%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SHRT Gotham Short Strategies ETF	$279.70K	$140.77K	$64.30K
WTID MicroSectors Energy -3X Inverse Leveraged ETN	$198.95K	$195.92K	$630.81K

WTID vs. SHRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTID MicroSectors Energy -3X Inverse Leveraged ETN	-67.32%	-44.50%	-7.93%	5.19%
SHRT Gotham Short Strategies ETF	-14.58%	-0.91%	-1.44%	-5.51%

Correlation

The correlation between WTID and SHRT is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.10
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.15

WTID vs. SHRT - Sectors Allocation Comparison

Sectors	WTID	SHRT
Energy	100.0%	5.4%
Basic Materials	-	18.3%
Communication Services	-	2.1%
Consumer Cyclical	-	10.7%
Consumer Defensive	-	6.7%
Financial Services	-	1.2%
Healthcare	-	10.4%
Industrials	-	13.5%
Real Estate	-	-
Technology	-	17.0%
Utilities	-	0.0%

Return for Risk

WTID vs. SHRT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WTID

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

SHRT

SHRT Risk / Return Rank: 1
SHRT Sharpe Ratio Rank: 1
SHRT Sortino Ratio Rank: 1
SHRT Omega Ratio Rank: 2
SHRT Calmar Ratio Rank: 3
SHRT Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WTID vs. SHRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Energy -3X Inverse Leveraged ETN (WTID) 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.

	WTID	SHRT	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	-1.13	+0.06
Sortino ratio: Return per unit of downside risk	-2.20	-1.63	-0.56
Omega ratio: Gain probability vs. loss probability	0.77	0.82	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.98	-0.76	-0.22
Martin ratio: Return relative to average drawdown	-1.49	-1.61	+0.12

WTID vs. SHRT - Sharpe Ratio Comparison

The current WTID Sharpe Ratio is -1.07, which is comparable to the SHRT Sharpe Ratio of -1.13. The chart below compares the historical Sharpe Ratios of WTID 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

WTID vs. SHRT - Drawdown Comparison

The maximum WTID drawdown since its inception was -90.80%, which is greater than SHRT's maximum drawdown of -27.84%. Use the drawdown chart below to compare losses from any high point for WTID and SHRT.

Drawdown Indicators

	WTID	SHRT	Difference
Max Drawdown Largest peak-to-trough decline	-90.80%	-27.84%	-62.96%
Max Drawdown (1Y) Largest decline over 1 year	-76.06%	-21.19%	-54.87%
Max Drawdown (3Y) Largest decline over 3 years	-86.73%	—	—
Current Drawdown Current decline from peak	-90.37%	-23.39%	-66.98%
Average Drawdown Average peak-to-trough decline	-55.96%	-9.07%	-46.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.62%	9.94%	+39.68%

Volatility

WTID vs. SHRT - Volatility Comparison

MicroSectors Energy -3X Inverse Leveraged ETN (WTID) has a higher volatility of 23.44% compared to Gotham Short Strategies ETF (SHRT) at 3.40%. This indicates that WTID'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

	WTID	SHRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.44%	3.40%	+20.04%
Volatility (6M) Calculated over the trailing 6-month period	56.62%	11.99%	+44.63%
Volatility (1Y) Calculated over the trailing 1-year period	69.15%	14.19%	+54.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.60%	13.00%	+57.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.60%	13.00%	+57.60%

WTID vs. SHRT - Expense Ratio Comparison

WTID has a 0.95% expense ratio, which is lower than SHRT's 1.35% expense ratio.

Dividends

WTID vs. SHRT - Dividend Comparison

WTID has not paid dividends to shareholders, while SHRT's dividend yield for the trailing twelve months is around 0.08%.

Position	TTM	2025	2024	2023
SHRT Gotham Short Strategies ETF	0.08%	0.07%	0.85%	0.27%
WTID MicroSectors Energy -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTID and SHRT in my portfolio?

WTID and SHRT have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTID or SHRT?

WTID has higher volatility (23.44%) compared to SHRT (3.40%). In terms of maximum drawdown, WTID dropped -90.80% vs SHRT's -27.84%.

Which ETF is better, WTID or SHRT?

On 1-year performance, SHRT leads with -15.96% vs -74.04% for WTID. On fees, WTID is cheaper at 0.95% per year. On volatility, SHRT has been the lower-risk option at 3.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTID or SHRT?

Over the 1-year period, SHRT has performed better with a -15.96% return vs -74.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTID or SHRT?

WTID is cheaper with a 0.95% expense ratio, compared with 1.35% for SHRT.

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

SHRT has the higher dividend yield at 0.08%, compared with 0.00% for WTID.

What is the main difference between WTID and SHRT?

They also come from different issuers: REX and Gotham. Their fees differ too: 0.95% for WTID and 1.35% for SHRT.

Which has better risk-adjusted returns?

WTID currently has the higher Sharpe Ratio (-1.07 vs -1.13), 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.