personalty vs effects

personalty and effects both are nouns.

Word	Noun	Adjective	Verb	Adverb
personalty	Yes	No	No	No
effects	Yes	No	No	No

As nouns, effects is a hyponym of personalty; that is, effects is a word with a more specific, narrower meaning than personalty:

personalty: movable property (as distinguished from real estate)
effects: property of a personal character that is portable but not used in business

Other hyponyms of personalty include chattel, movable, personal chattel, personal effects, clobber, stuff.

personalty (noun)	effects (noun)
movable property (as distinguished from real estate)	property of a personal character that is portable but not used in business