FDLS vs. GRNJ

Last updated Jun 4, 2026

FDLS (Inspire Fidelis Multi Factor ETF) and GRNJ (Fundstrat Granny Shots US Small- & Mid-Cap ETF) are both Mid Cap Blend Equities funds. FDLS is passively managed, while GRNJ is actively managed. A 0.76 correlation means they provide meaningful diversification when combined. FDLS charges 0.76%/yr vs 0.75%/yr for GRNJ.

Performance

FDLS vs. GRNJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Inspire Fidelis Multi Factor ETF (FDLS) and Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDLS achieves a 13.12% return, which is significantly lower than GRNJ's 26.11% return.

FDLS

• 1D: -1.15%
• 1M: -0.93%
• YTD: 13.12%
• 6M: 13.26%
• 1Y: 33.04%
• 3Y*: 19.65%
• 5Y*: —
• 10Y*: —

GRNJ

• 1D: -1.17%
• 1M: 8.92%
• YTD: 26.11%
• 6M: 25.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDLS vs. GRNJ - Yearly Performance Comparison

	2026 (YTD)	2025
FDLS Inspire Fidelis Multi Factor ETF	13.12%	4.76%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	26.11%	5.14%

Correlation

The correlation between FDLS and GRNJ is 0.76, 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 Nov 19, 2025	0.76

Return for Risk

FDLS vs. GRNJ — Risk / Return Rank

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

FDLS

FDLS Risk / Return Rank: 64
FDLS Sharpe Ratio Rank: 59
FDLS Sortino Ratio Rank: 60
FDLS Omega Ratio Rank: 57
FDLS Calmar Ratio Rank: 70
FDLS Martin Ratio Rank: 74

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.

FDLS vs. GRNJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Inspire Fidelis Multi Factor ETF (FDLS) and Fundstrat Granny Shots US Small- & Mid-Cap ETF (GRNJ). 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.

	FDLS	GRNJ	Difference
Sharpe ratio: Return per unit of total volatility	1.99	—	—
Sortino ratio: Return per unit of downside risk	2.82	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.48	—	—
Martin ratio: Return relative to average drawdown	13.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FDLS	GRNJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	2.35	-1.49

Drawdowns

FDLS vs. GRNJ - Drawdown Comparison

The maximum FDLS drawdown since its inception was -23.32%, which is greater than GRNJ's maximum drawdown of -17.32%. Use the drawdown chart below to compare losses from any high point for FDLS and GRNJ.

Drawdown Indicators

	FDLS	GRNJ	Difference
Max Drawdown Largest peak-to-trough decline	-23.32%	-17.32%	-6.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.32%	—	—
Current Drawdown Current decline from peak	-2.66%	-1.17%	-1.49%
Average Drawdown Average peak-to-trough decline	-3.88%	-4.13%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	—	—

Volatility

Volatility by Period

	FDLS	GRNJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.71%	29.93%	-13.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	29.93%	-10.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	29.93%	-10.86%

FDLS vs. GRNJ - Expense Ratio Comparison

FDLS has a 0.76% expense ratio, which is higher than GRNJ's 0.75% expense ratio.

Dividends

FDLS vs. GRNJ - Dividend Comparison

FDLS's dividend yield for the trailing twelve months is around 0.87%, while GRNJ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
FDLS Inspire Fidelis Multi Factor ETF	0.87%	0.86%	7.26%	0.97%	0.31%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDLS and GRNJ in my portfolio?

FDLS and GRNJ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FDLS or GRNJ?

On fees, GRNJ 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, FDLS or GRNJ?

GRNJ is cheaper with a 0.75% expense ratio, compared with 0.76% for FDLS.

Which ETF pays a higher dividend yield, FDLS or GRNJ?

FDLS has the higher dividend yield at 0.87%, compared with 0.00% for GRNJ.

What is the main difference between FDLS and GRNJ?

They also come from different issuers: Inspire and Fundstrat. Their fees differ too: 0.76% for FDLS and 0.75% for GRNJ.