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Launched · SEC filings

Gotham Short Strategies ETF

SHRTNYSE ArcaGothamD

$7.010.00 (0.00%)

As of Nov 10, 2026, 9:46 AM ET

D34/ 100

Rank 24 of 30 in Alternative Strategies

D34/100Rank 24 of 30inAlternative Strategies
Intraday session: flat, 1 prints from 7.01 to 7.01. Range 7.01 to 7.01. Use the arrow keys to read each point.6.507.508.0010 AM12 PM2 PM4 PM
Expense ratio
1.35%
Fund size
$13M
1Y total return
−4.6%
Yield · Last 12 months
0.07%
Holdings
541
Avg volume · 30D
9.75K sh
52W range
low $6.07high $7.65
Launched
Filings
SEC EDGAR

The ETF.net SHRT Grade

Based on 4 of 6 pillars

D

Score 34 out of 100

Category
Alternative Strategies⁠
Rank
24 of 30
Six-pillar profile for SHRT. Scores out of 100: Cost 38, Risk 24, Mission not scored, Tradability 32, Holdings not scored, Durability 55. Strongest: Durability (55). Weakest: Risk (24). Based on 4 of 6 pillars.

Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D38 out of 100
    Rank 19 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F24 out of 100
    Rank 24 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D32 out of 100
    Rank 24 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B55 out of 100
    Rank 14 of 30

Our read on SHRT

ETF.net Research

In short

DOne of the few ETFs built to lean against the market: Gotham's stock pickers run a long book and a bigger short book, targeting roughly 50% net short US equity exposure.

Stated mandate

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

  • Net short by design, not by inverse swap: an actively picked book of US longs and shorts aiming for about 50% net short exposure.
  • Run by Gotham Asset Management, the firm where Joel Greenblatt is a managing principal and co-CIO, so the short book is stock selection, not a market-wide bet.sec.gov
  • Honest scorecard: shareholder reports measure it against both the S&P 500 Total Return Index and a 50% inverse of that index, the two yardsticks that actually fit the mandate.sec.gov
  • History predates the ticker. The strategy dates to 2008 and ran as a mutual fund until a reorganization after the close on November 3, 2023 turned it into an ETF.sec.gov

Worth knowing

  • Costs 1.35%, with no fee waiver in place, above the alternatives category median. FLSP, a systematic multi-strategy peer, charges 0.65%.
  • A small, thinly traded fund, so spreads can be wide and larger orders can move the price.
  • Leaning short cuts both ways: the net short target is built to work in falling markets and to fight rising ones, and short positions carry borrow costs.sec.gov

SHRT Performance

Launched Feb 1, 2008

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
SHRT$9,544
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. SHRT $9,544. SPY $11,339. Use the arrow keys to read each point.$9,000$10,000$11,000$12,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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.

Trailing total return for SHRT. Periods over one year show the average yearly return.
PeriodSHRT
Year to date−8.0%
1 month+3.4%
3 months+9.2%
1 year−4.6%
3 yearsper year−5.1%
5 yearsHistory unavailableper yearNo data
10 yearsHistory unavailableper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SHRT
YearReturn barSHRT
2026 YTD−8.0%
2025−0.8%
2024−1.5%
2023−5.8%

History from Nov 6, 2023

SHRT in the news

SHRT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.07%Last 12 months
Payout per share
$0.0052Last 12 months
Last payment
$0.0052 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 22, 2023 $0.02; Dec 10, 2024 $0.06; Dec 10, 2025 $0.0052. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 10, 2025Dec 11, 2025$0.0052
Dec 10, 2024Dec 12, 2024$0.06
Dec 22, 2023Dec 27, 2023$0.02

$10,000 in SHRT 3 years ago paid $112 in dividends.

SHRT Risk

Risk pillarF24 out of 100Rank 24 of 30 in Alternative Strategies
How much the fund’s monthly returns vary, scaled to a year.
13.0%
Annualised · 35 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.68
vs 3-month T-bills · 35 months to Oct 2026
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.

The largest fall from a peak to the low that followed.
−27.8%
36 months · trough Jun 2026
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.

How strongly the fund’s returns move with its asset-class index.
−0.61
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SHRT Cost

Compare SHRT and HBDC

Overpaying vs HBDC, cheapest in Alternative Strategies

$16,215

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SHRT 1.35%

    $24,113

  • HBDC 0.39% Cheapest

    $7,898

$10,000
30 years

Cost over time

  • SHRT 1.35%
  • HBDC 0.39%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530SHRT $24,113HBDC $7,898

Year by year

YearSHRTHBDCOverpaying
10$2,346$705$1,641
20$8,678$2,725$5,953
30$24,113$7,898$16,215

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