The shaftless ducted turbine (abbreviated as SDT), as an extraordinary innovation in tidal current power generation applications, has many advantages, and a wide application prospect. The structure of an SDT resembles a ducted turbine (abbreviated as DT), as both contain blades and a duct. However, there are some structural differences between a DT and a SDT, which can cause significant discrepancy in the hydrodynamic characteristics and flow features. The present work compares the detailed hydrodynamic-energy loss characteristics of a DT and a SDT by means of computational fluid dynamics (CFD), performed by solving the 3D steady incompressible Reynolds-averaged Navier-Stokes (RANS) equations in combination with the Menter’s Shear Stress Transport (SST k−ω) turbulence model and entropy production model. The results show the SDT features a higher power level at low tip speed ratio (TSR) and a potential reduction in potential flow resistance and disturbance with respect to the DT. Moreover, a detail entropy production analysis shows the energy loss is closely related to the flow separation and the reverse flow, and other negative flow factors. The entropy production of the SDT is lessened than that of the DT at different TSR. Unlike the DT, the SDT allows a large mass flow of water to leak through the open-center structure, which plays an important role in improving the wake structure and avoiding the negative flow along the central axis.