IWL vs. SPIT
IWL (iShares Russell Top 200 ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. IWL is passively managed, while SPIT is actively managed. A 0.76 correlation means they provide meaningful diversification when combined. IWL charges 0.15%/yr vs 0.89%/yr for SPIT.
Performance
IWL vs. SPIT - Performance Comparison
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Returns By Period
In the year-to-date period, IWL achieves a 9.11% return, which is significantly lower than SPIT's 27.30% return.
IWL
- 1D
- -0.93%
- 1M
- 1.22%
- 6M
- 7.39%
- YTD
- 9.11%
- 1Y
- 21.24%
- 3Y*
- 21.09%
- 5Y*
- 13.40%
- 10Y*
- 15.94%
SPIT
- 1D
- -1.91%
- 1M
- 0.33%
- 6M
- 18.89%
- YTD
- 27.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWL vs. SPIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IWL iShares Russell Top 200 ETF | 9.11% | 2.62% |
SPIT F/m Emerald Special Situations ETF | 27.30% | 5.31% |
Correlation
The correlation between IWL and SPIT 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 Oct 6, 2025 | 0.76 |
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Return for Risk
IWL vs. SPIT — Risk / Return Rank
IWL
SPIT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IWL vs. SPIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Top 200 ETF (IWL) 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.
| IWL | SPIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.30 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | — | — |
| Martin ratioReturn relative to average drawdown | 9.00 | — | — |
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Drawdowns
IWL vs. SPIT - Drawdown Comparison
The maximum IWL drawdown since its inception was -32.71%, which is greater than SPIT's maximum drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for IWL and SPIT.
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Drawdown Indicators
| IWL | SPIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.71% | -12.49% | -20.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.83% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -19.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | — | — |
Current DrawdownCurrent decline from peak | -1.65% | -5.43% | +3.78% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -2.51% | -1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | — | — |
Volatility
IWL vs. SPIT - Volatility Comparison
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Volatility by Period
| IWL | SPIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.96% | 26.39% | -13.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.30% | 26.39% | -9.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 26.39% | -8.29% |
IWL vs. SPIT - Expense Ratio Comparison
IWL has a 0.15% expense ratio, which is lower than SPIT's 0.89% expense ratio.
Dividends
IWL vs. SPIT - Dividend Comparison
IWL's dividend yield for the trailing twelve months is around 0.85%, less than SPIT's 5.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWL iShares Russell Top 200 ETF | 0.85% | 0.90% | 1.04% | 1.30% | 1.54% | 1.12% | 1.30% | 1.96% | 1.93% | 1.69% | 1.96% | 2.14% |
SPIT F/m Emerald Special Situations ETF | 5.64% | 7.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWL and SPIT 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.
On fees, IWL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWL is cheaper with a 0.15% expense ratio, compared with 0.89% for SPIT.
SPIT has the higher dividend yield at 5.64%, compared with 0.85% for IWL.
They also come from different issuers: iShares and F/m Investments. Their fees differ too: 0.15% for IWL and 0.89% for SPIT.
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