shortfall risk and VAR liability, difference, something, practice, possibly

DarienHacker

am I missing something, or are these the same exact idea/calculation? My guess is that VAR is typically used with a low enough return so that it is 5 or 10%, whereas shortfall risk in practice is possibly calculated to something nearer to a required return for some kind of liability... is that more or less the difference? The calculation seems the same.