DARP vs. SPIT

Last updated Jun 23, 2026

DARP (Grizzle Growth ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. DARP charges 0.75%/yr vs 0.89%/yr for SPIT.

Performance

DARP vs. SPIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grizzle Growth ETF (DARP) and F/m Emerald Special Situations ETF (SPIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DARP achieves a 32.11% return, which is significantly higher than SPIT's 30.41% return.

DARP

• 1D: 0.89%
• 1M: 2.84%
• YTD: 32.11%
• 6M: 32.85%
• 1Y: 77.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPIT

• 1D: -0.18%
• 1M: 4.82%
• YTD: 30.41%
• 6M: 28.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DARP vs. SPIT - Yearly Performance Comparison

	2026 (YTD)	2025
DARP Grizzle Growth ETF	32.11%	6.92%
SPIT F/m Emerald Special Situations ETF	30.41%	5.31%

Correlation

The correlation between DARP and SPIT is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.75

Return for Risk

DARP vs. SPIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DARP

DARP Risk / Return Rank: 90
DARP Sharpe Ratio Rank: 93
DARP Sortino Ratio Rank: 84
DARP Omega Ratio Rank: 84
DARP Calmar Ratio Rank: 94
DARP Martin Ratio Rank: 93

SPIT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DARP vs. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grizzle Growth ETF (DARP) and F/m Emerald Special Situations ETF (SPIT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DARP	SPIT	Difference
Sharpe ratio: Return per unit of total volatility	3.18	—	—
Sortino ratio: Return per unit of downside risk	3.59	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	6.56	—	—
Martin ratio: Return relative to average drawdown	23.42	—	—

Drawdowns

DARP vs. SPIT - Drawdown Comparison

The maximum DARP drawdown since its inception was -30.27%, which is greater than SPIT's maximum drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for DARP and SPIT.

Drawdown Indicators

	DARP	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-30.27%	-12.49%	-17.78%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	—	—
Current Drawdown Current decline from peak	-1.18%	-0.18%	-1.00%
Average Drawdown Average peak-to-trough decline	-4.64%	-2.55%	-2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	—	—

Volatility

Volatility by Period

	DARP	SPIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.43%	26.60%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.36%	26.60%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.36%	26.60%	-0.24%

DARP vs. SPIT - Expense Ratio Comparison

DARP has a 0.75% expense ratio, which is lower than SPIT's 0.89% expense ratio.

Dividends

DARP vs. SPIT - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.33%, less than SPIT's 5.51% yield.

Position	TTM	2025	2024	2023
DARP Grizzle Growth ETF	0.33%	0.43%	1.93%	0.32%
SPIT F/m Emerald Special Situations ETF	5.51%	7.18%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DARP and SPIT in my portfolio?

DARP and SPIT have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DARP or SPIT?

On fees, DARP is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DARP or SPIT?

DARP is cheaper with a 0.75% expense ratio, compared with 0.89% for SPIT.

Which ETF pays a higher dividend yield, DARP or SPIT?

SPIT has the higher dividend yield at 5.51%, compared with 0.33% for DARP.

What is the main difference between DARP and SPIT?

They also come from different issuers: Grizzle and F/m Investments. Their fees differ too: 0.75% for DARP and 0.89% for SPIT.