FDLS vs. GRNJ

Last updated Aug 6, 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. Their 0.77 correlation means they have sometimes moved together and sometimes differently. 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 20.96% return, which is significantly higher than GRNJ's 16.59% return.

FDLS

• 1D: -0.74%
• 1M: 2.23%
• 6M: 14.07%
• YTD: 20.96%
• 1Y: 34.94%
• 3Y*: 18.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.47%

GRNJ

• 1D: -0.96%
• 1M: -2.58%
• 6M: 12.54%
• YTD: 16.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDLS Inspire Fidelis Multi Factor ETF	$1.17M	$1.57M	$1.61M
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	$4.80M	$6.93M	$6.29M

FDLS vs. GRNJ - Yearly Performance Comparison

	2026 (YTD)	2025
FDLS Inspire Fidelis Multi Factor ETF	20.96%	5.52%
GRNJ Fundstrat Granny Shots US Small- & Mid-Cap ETF	16.59%	6.02%

Correlation

The correlation between FDLS and GRNJ is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.77

Return for Risk

FDLS vs. GRNJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDLS

FDLS Risk / Return Rank: 82
FDLS Sharpe Ratio Rank: 80
FDLS Sortino Ratio Rank: 80
FDLS Omega Ratio Rank: 76
FDLS Calmar Ratio Rank: 86
FDLS Martin Ratio Rank: 88

GRNJ

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	FDLS	GRNJ	Difference
Sharpe ratio: Return per unit of total volatility	2.06	—	—
Sortino ratio: Return per unit of downside risk	2.91	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	3.68	—	—
Martin ratio: Return relative to average drawdown	14.57	—	—

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 -17.45%. 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%	-17.45%	-5.87%
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	-0.74%	-8.62%	+7.88%
Average Drawdown Average peak-to-trough decline	-3.75%	-5.01%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	—	—

Volatility

Volatility by Period

	FDLS	GRNJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.03%	31.18%	-14.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.90%	31.18%	-12.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	31.18%	-12.28%

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 0.79%, while GRNJ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
FDLS Inspire Fidelis Multi Factor ETF	0.79%	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 0.77, 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 0.79%, 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.