IQM vs. SPIT

Last updated Jul 15, 2026

IQM (Franklin Intelligent Machines ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. IQM charges 0.50%/yr vs 0.89%/yr for SPIT.

Performance

IQM vs. SPIT - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with IQM having a 27.48% return and SPIT slightly higher at 27.82%.

IQM

• 1D: 2.19%
• 1M: -4.67%
• 6M: 16.81%
• YTD: 27.48%
• 1Y: 47.04%
• 3Y*: 30.36%
• 5Y*: 18.79%
• 10Y*: —

SPIT

• 1D: 0.41%
• 1M: 0.75%
• 6M: 18.85%
• YTD: 27.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQM vs. SPIT - Yearly Performance Comparison

	2026 (YTD)	2025
IQM Franklin Intelligent Machines ETF	27.48%	-1.36%
SPIT F/m Emerald Special Situations ETF	27.82%	5.31%

Correlation

The correlation between IQM and SPIT is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.85

Return for Risk

IQM vs. SPIT — Risk / Return Rank

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

IQM

IQM Risk / Return Rank: 57
IQM Sharpe Ratio Rank: 50
IQM Sortino Ratio Rank: 44
IQM Omega Ratio Rank: 47
IQM Calmar Ratio Rank: 78
IQM Martin Ratio Rank: 64

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.

IQM vs. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Intelligent Machines ETF (IQM) 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.

	IQM	SPIT	Difference
Sharpe ratio: Return per unit of total volatility	1.40	—	—
Sortino ratio: Return per unit of downside risk	1.82	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	3.21	—	—
Martin ratio: Return relative to average drawdown	9.10	—	—

Drawdowns

IQM vs. SPIT - Drawdown Comparison

The maximum IQM drawdown since its inception was -44.91%, which is greater than SPIT's maximum drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for IQM and SPIT.

Drawdown Indicators

	IQM	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-44.91%	-12.49%	-32.42%
Max Drawdown (1Y) Largest decline over 1 year	-14.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.91%	—	—
Current Drawdown Current decline from peak	-11.52%	-5.04%	-6.48%
Average Drawdown Average peak-to-trough decline	-12.15%	-2.52%	-9.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	—	—

Volatility

Volatility by Period

	IQM	SPIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	33.72%	26.32%	+7.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.10%	26.32%	+3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.38%	26.32%	+5.06%

IQM vs. SPIT - Expense Ratio Comparison

IQM has a 0.50% expense ratio, which is lower than SPIT's 0.89% expense ratio.

Dividends

IQM vs. SPIT - Dividend Comparison

IQM has not paid dividends to shareholders, while SPIT's dividend yield for the trailing twelve months is around 5.62%.

Position	TTM	2025	2024	2023	2022	2021	2020
IQM Franklin Intelligent Machines ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.01%
SPIT F/m Emerald Special Situations ETF	5.62%	7.18%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IQM and SPIT in my portfolio?

IQM and SPIT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQM or SPIT?

On fees, IQM is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQM or SPIT?

IQM is cheaper with a 0.50% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.62%, compared with 0.00% for IQM.

What is the main difference between IQM and SPIT?

They also come from different issuers: Franklin Templeton and F/m Investments. Their fees differ too: 0.50% for IQM and 0.89% for SPIT.