Gotham Short Strategies ETF
SHRT
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1370 Avenue of the Americas, 31st Floor New York NY United States of America 10019
- IPO Date
- Nov 6, 2023
- Website
- gothametfs.com
- Similar Companies
- Business
- Gotham Short Strategies ETF (SHRT) is an actively managed exchange-traded fund that seeks long-term capital appreciation and positive returns in down markets by investing in long and short positions of equity and equity-related securities, primarily of U.S.-listed companies of any market capitalization; it employs derivative instruments such as total return swap agreements to obtain short exposure and certain long exposure, with a targeted net equity exposure of approximately 50% short (long positions minus short positions) and gross equity exposure generally at or below 250%; the fund maintains several hundred positions, weighted toward the most undervalued longs and overvalued shorts based on a proprietary bottom-up valuation framework emphasizing recurring earnings, cash flows, capital efficiency, capital structure, and relative/absolute valuations, subject to liquidity and diversification risk controls; the portfolio rebalances generally daily to reflect new information such as earnings releases. SHRT obtains short exposure through swaps embedding costs like dividends and interest expenses associated with short sales, creating leverage that amplifies net asset value changes; it may also lend portfolio securities collateralized by cash or liquid assets. The fund operates in the alternative investment strategies segment of the ETF market, targeting sophisticated investors seeking market-neutral returns and hedging against equity downturns. The predecessor private fund commenced operations on February 1, 2008, reorganized into a mutual fund (Gotham Short Strategies Fund, a series of FundVantage Trust) on August 1, 2017, which then reorganized into the current ETF structure effective after market close on November 6, 2023 (with ETF trading commencing that date), adopting the predecessor's performance, objectives, policies, and restrictions in all material respects; Tidal Investments LLC serves as investment adviser, with Gotham Asset Management, LLC as sub-adviser; portfolio managers include Joel Greenblatt and Robert Goldstein (since inception) of Gotham, and Michael Venuto and Charles A. Ragauss of Tidal (since 2023); the fund lists on NYSE Arca, Inc. and is distributed by Foreside Fund Services, LLC. SHRT maintains a gross/net expense ratio of 1.36%, reflecting management fees of 1.35% plus minor acquired fund fees; portfolio turnover reached 538% for the fiscal year ended September 30, 2024. The fund is headquartered in the United States, with operations focused on U.S. equity markets.