You're changing the angle of the string to the nock during full draw. With a shorter bow and all else the same, the bow will become less effective because you increase that angle. Think about it like this, the limbs do more work when you pull them into an arc. However, when you get past a certain point, you start drawing the limbs back to you as opposed to in towards the handle. This is called stacking. You get less arrow velocity for the amount of energy you put in. Every bow does it, but a good design minimizes it. You could mitigate it on the shortened bow by decreasing the set back angle in the limb pocket and adjusting your brace height a bit. I've never done it, but it's theory straight from TBB. Good luck!
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