SHRT vs XLVI

Comparison between GOTHAM SHORT STRATEGIES ETF (SHRT, ETF) and STATE STREET(R) HEALTH CARE SELECT SECTOR SPDR(R) PREMIUM INCOME ETF STATE STREET(R)HEALTH CARE SELECT SECTOR SPDR(R) PREMIUM INCOME ETF (XLVI, ETF).

SHRT vs XLVI - Performance Comparison

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Key Characteristics

Financial metrics and valuation ratios

Metric	SHRT(ETF)	XLVI(ETF)
Net Assets	$15M	$15M
Expense Ratio	1.35%	0.35%
Max Drawdown	26.66%	10.56%
Sharpe Ratio	-1.97	1.20
5Y Beta	-0.43	0.34
P/E Ratio	25.91	N/A
Forward P/E	15.66	N/A
Debt to Equity	-42.40%	N/A
P/S Ratio	1.54	N/A
P/B Ratio	3.46	N/A

Net Assets

SHRT

$15M

Winner

XLVI

$15M

Expense Ratio

SHRT

1.35%

Winner

XLVI

0.35%

Max Drawdown

SHRT

26.66%

Winner

XLVI

10.56%

Sharpe Ratio

SHRT

-1.97

Winner

XLVI

1.20

5Y Beta

Winner

SHRT

-0.43

XLVI

0.34

P/E Ratio

SHRT

25.91

XLVI

N/A

Forward P/E

SHRT

15.66

XLVI

N/A

Debt to Equity

SHRT

-42.40%

XLVI

N/A

P/S Ratio

SHRT

1.54

XLVI

N/A

P/B Ratio

SHRT

3.46

XLVI

N/A

SHRT vs XLVI - Holdings Comparison

SHRT and XLVI have 0 common holdings. Overlap is 0.00%

SHRT's top 25 holdings weight is 170.29%. XLVI's top 25 holdings weight is 99.43%.

Rank	SHRT	XLVI
#1	CASH OFFSET (n/a) - 129.75%	STATE STREET®HLTHCRSELSECTSPDR®ETF (XLV) - 99.43%
#2	US DOLLARS (n/a) - 9.76%	N/A
#3	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 6.89%	N/A
#4	MICRON TECHNOLOGY INC (MU) - 2.10%	N/A
#5	TECHNIPFMC PLC (FTI) - 1.45%	N/A
#6	UBER TECHNOLOGIES INC (UBER) - 1.31%	N/A
#7	HEWLETT PACKARD ENTERPRISE CO (HPE) - 1.29%	N/A
#8	AGNICO EAGLE MINES LTD (AEM) - 1.27%	N/A
#9	ADOBE INC (ADBE) - 1.24%	N/A
#10	n/a (DELL) - 1.21%	N/A
#11	ANALOG DEVICES INC (ADI) - 1.20%	N/A
#12	SALESFORCE INC (CRM) - 1.20%	N/A
#13	BLOOM ENERGY CORP CLASS A (BE) - 1.18%	N/A
#14	MARVELL TECHNOLOGY INC (MRVL) - 1.15%	N/A
#15	VALERO ENERGY CORP (VLO) - 1.13%	N/A
#16	MASIMO CORP (MASI) - 1.08%	N/A
#17	TRACTOR SUPPLY CO (TSCO) - 1.05%	N/A
#18	SOMNIGROUP INTERNATIONAL INC (SGI) - 1.04%	N/A
#19	VIKING HOLDINGS LTD (VIK) - 1.03%	N/A
#20	COPART INC (CPRT) - 1.02%	N/A
#21	OCCIDENTAL PETROLEUM CORP (OXY) - 0.63%	N/A
#22	PEPSICO INC (PEP) - 0.60%	N/A
#23	NETFLIX INC (NFLX) - 0.57%	N/A
#24	NUTRIEN LTD (NTR) - 0.57%	N/A
#25	AMENTUM HOLDINGS INC (AMTM) - 0.57%	N/A
Total Holdings	659	1

SHRT vs XLVI - Historical Returns

Returns include dividend reinvestment.

Period	SHRT	XLVI
1 month	-2.83%	+4.53%
3 months	-12.86%	+3.68%
6 months	-14.61%	+3.72%
1 year	-20.50%	+15.34%
Max(CAGR)	-9.56%	+17.88%

SHRT

-2.83%

Winner

XLVI

+4.53%

SHRT

-12.86%

Winner

XLVI

+3.68%

SHRT

-14.61%

Winner

XLVI

+3.72%

SHRT

-20.50%

Winner

XLVI

+15.34%

Max(CAGR)

SHRT

-9.56%

Winner

XLVI

+17.88%

SHRT vs XLVI - Annual Returns (2023 - 2026)

Returns include dividend reinvestment.

Year	SHRT	XLVI
2026	-16.29%	+1.93%
2025	-1.29%	+12.78%
2024	-2.64%	N/A
2023	-5.83%	N/A

SHRT vs XLVI Drawdown Comparison

The maximum drawdown for SHRT was -25.99%, occurring on Jun 2, 2026. This drawdown has not yet recovered.

The maximum drawdown for XLVI was -8.14%, occurring on Mar 27, 2026. This drawdown has not yet recovered.

The current SHRT drawdown is -24.88%. The current XLVI drawdown is -1.18%.

Rank	SHRT	XLVI
#1	-25.99% Aug 5, 2024 - Jun 2, 2026	-8.14% Feb 27, 2026 - Mar 27, 2026
#2	-7.34% Apr 19, 2024 - Aug 5, 2024	-3.52% Jul 30, 2025 - Aug 14, 2025
#3	-6.52% Nov 6, 2023 - Apr 19, 2024	-3.02% Nov 26, 2025 - Dec 15, 2025
#4	N/A	-2.28% Jan 26, 2026 - Feb 6, 2026
#5	N/A	-1.59% Sep 11, 2025 - Sep 30, 2025
#6	N/A	-1.38% Jan 12, 2026 - Jan 21, 2026
#7	N/A	-1.31% Feb 6, 2026 - Feb 18, 2026
#8	N/A	-1.08% Oct 27, 2025 - Nov 6, 2025
#9	N/A	-0.80% Dec 15, 2025 - Dec 22, 2025
#10	N/A	-0.48% Nov 12, 2025 - Nov 21, 2025
#11	N/A	-0.46% Jan 22, 2026 - Jan 26, 2026
#12	N/A	-0.42% Feb 18, 2026 - Feb 23, 2026
#13	N/A	-0.40% Oct 9, 2025 - Oct 15, 2025
#14	N/A	-0.39% Dec 24, 2025 - Jan 6, 2026
#15	N/A	-0.39% Jan 7, 2026 - Jan 12, 2026

Correlation

Correlation between SHRT and XLVI is -0.56 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.56

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