Gotham Short Strategies ETF
$6.71+0.02 (+0.30%)
- Expense ratio
- 1.35%
- Fund size
- $13M
- 1Y return
- −11.6%
- Yield · Last 12 months
- 0.08%
- Volume · 30D
- 0M sh
- NAV per share
- $6.80
- 52W range
The ETF.net SHRT Grade
Score 24 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.DScore 28Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 17Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 17Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 51Category rank
Our read on SHRT
FMost short products just flip an index upside down and reset daily. This one doesn't: Gotham runs an active long/short book of US stocks and swaps, held at roughly 50% net short, measured against the S&P 500.
The Fund seeks long-term capital appreciation and positive returns during declining markets. It actively manages long and short equity and equity-related positions, primarily in companies traded on U.S. markets, targeting approximately 50% net short exposure.
Why people hold it
- Targets about 50% net short: long and short positions in US-traded stocks and equity swaps, actively managed rather than a daily-resetting inverse index tracker.
- Both sides of the book are picked by Gotham, and the fund measures itself against the S&P 500 Total Return Index rather than a bear-market benchmark.
- Hedge-fund-style shorting delivered in a plain 1940 Act ETF: intraday trading, daily pricing, ordinary brokerage access.
- The mandate is explicit about what it is for: capital appreciation with positive returns sought during declining markets, stated in the fund's own filings.
Worth knowing
- Net short by design. The portfolio is built to lean against the US market, so it moves broadly opposite to the stocks most investors already own.
- At 1.36% a year it costs more than the typical fund in its alternatives peer group. Running an active short book is expensive work.
- A small, lightly traded fund, so bid-ask spreads can run wider than on large index ETFs.
SHRT Holdings
- Stocks
- —
- 66%
- Cash & Other
Sectors
- Technology20.7%
- Industrials19.8%
- Materials14.7%
- Consumer Discr.12.0%
- Energy11.9%
- Health Care11.5%
- Cons. Staples6.5%
- Communication2.9%
Geography
- United States86.40%
- Switzerland4.34%
- Canada3.60%
- United Kingdom2.67%
- Ireland1.44%
- Netherlands0.83%
- Australia0.55%
- Finland0.12%
- 0.06%
SHRT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SHRT |
|---|---|
| Year to date | −12.4% |
| 1 month | −0.4% |
| 3 months | +4.6% |
| 1 year | −11.6% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SHRT |
|---|---|---|
| 2026 YTD | −12.4% | |
| 2025 | −0.8% | |
| 2024 | −1.5% | |
| 2023 | −5.8% |
SHRT in the news
ETF.net Research hasn’t filed on SHRT yet — coverage lands here as it’s written.
SHRT Dividends
- 0.08%
- $0.0052
- $0.0052 per share
- Annual
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Dec 10, 2025 | Dec 11, 2025 | $0.0052 |
| Dec 10, 2024 | Dec 12, 2024 | $0.06 |
| Dec 22, 2023 | Dec 27, 2023 | $0.02 |
SHRT Risk
- 13.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.82
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −27.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.59
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SHRT Cost
- The middle half of Alternative Strategies funds
- Median 1.00%
19 of the 29 Alternative Strategies funds charge less.