DUNK vs. SPIT

Last updated Jul 17, 2026

DUNK (Dana Unconstrained Equity ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. Both are actively managed. At a 0.47 correlation, their price movements are largely independent. DUNK charges 0.75%/yr vs 0.89%/yr for SPIT.

Performance

DUNK vs. SPIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dana Unconstrained Equity ETF (DUNK) 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, DUNK achieves a 5.80% return, which is significantly lower than SPIT's 25.12% return.

DUNK

• 1D: -0.92%
• 1M: 4.97%
• 6M: 10.50%
• YTD: 5.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPIT

• 1D: -1.56%
• 1M: -1.75%
• 6M: 14.70%
• YTD: 25.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DUNK vs. SPIT - Yearly Performance Comparison

	2026 (YTD)	2025
DUNK Dana Unconstrained Equity ETF	5.80%	-3.24%
SPIT F/m Emerald Special Situations ETF	25.12%	5.31%

Correlation

The correlation between DUNK and SPIT is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.47

Return for Risk

DUNK vs. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dana Unconstrained Equity ETF (DUNK) 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.

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

Drawdowns

DUNK vs. SPIT - Drawdown Comparison

The maximum DUNK drawdown since its inception was -25.64%, which is greater than SPIT's maximum drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for DUNK and SPIT.

Drawdown Indicators

	DUNK	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-25.64%	-12.49%	-13.15%
Current Drawdown Current decline from peak	-4.01%	-7.05%	+3.04%
Average Drawdown Average peak-to-trough decline	-9.68%	-2.56%	-7.12%

Volatility

Volatility by Period

	DUNK	SPIT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	22.16%	26.27%	-4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.16%	26.27%	-4.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.16%	26.27%	-4.11%

DUNK vs. SPIT - Expense Ratio Comparison

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

Dividends

DUNK vs. SPIT - Dividend Comparison

DUNK has not paid dividends to shareholders, while SPIT's dividend yield for the trailing twelve months is around 5.74%.

Position	TTM	2025
DUNK Dana Unconstrained Equity ETF	0.00%	0.00%
SPIT F/m Emerald Special Situations ETF	5.74%	7.18%

Frequently Asked Questions

Can I hold both DUNK and SPIT in my portfolio?

DUNK and SPIT have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DUNK or SPIT?

On fees, DUNK 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, DUNK or SPIT?

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

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

SPIT has the higher dividend yield at 5.74%, compared with 0.00% for DUNK.

What is the main difference between DUNK and SPIT?

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