RONB vs. SPIT

Last updated Jul 14, 2026

RONB (Baron First Principles ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. Both are actively managed. At a 0.45 correlation, their price movements are largely independent. RONB charges 1.00%/yr vs 0.89%/yr for SPIT.

Performance

RONB vs. SPIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron First Principles ETF (RONB) 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, RONB achieves a -6.63% return, which is significantly lower than SPIT's 27.30% return.

RONB

• 1D: -1.48%
• 1M: -5.47%
• 6M: -7.16%
• YTD: -6.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPIT

• 1D: -1.91%
• 1M: 0.33%
• 6M: 18.89%
• YTD: 27.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RONB vs. SPIT - Yearly Performance Comparison

	2026 (YTD)	2025
RONB Baron First Principles ETF	-6.63%	-0.76%
SPIT F/m Emerald Special Situations ETF	27.30%	-0.25%

Correlation

The correlation between RONB and SPIT is 0.45, 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 Dec 15, 2025	0.45

Return for Risk

RONB vs. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron First Principles ETF (RONB) 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

RONB vs. SPIT - Drawdown Comparison

The maximum RONB drawdown since its inception was -13.08%, roughly equal to the maximum SPIT drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for RONB and SPIT.

Drawdown Indicators

	RONB	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-12.49%	-0.59%
Current Drawdown Current decline from peak	-10.26%	-5.43%	-4.83%
Average Drawdown Average peak-to-trough decline	-6.38%	-2.51%	-3.87%

Volatility

Volatility by Period

	RONB	SPIT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.86%	26.39%	-5.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.86%	26.39%	-5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.86%	26.39%	-5.53%

RONB vs. SPIT - Expense Ratio Comparison

RONB has a 1.00% expense ratio, which is higher than SPIT's 0.89% expense ratio.

Dividends

RONB vs. SPIT - Dividend Comparison

RONB has not paid dividends to shareholders, while SPIT's dividend yield for the trailing twelve months is around 5.64%.

Position	TTM	2025
RONB Baron First Principles ETF	0.00%	0.00%
SPIT F/m Emerald Special Situations ETF	5.64%	7.18%

Frequently Asked Questions

Can I hold both RONB and SPIT in my portfolio?

RONB and SPIT have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RONB or SPIT?

On fees, SPIT is cheaper at 0.89% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RONB or SPIT?

SPIT is cheaper with a 0.89% expense ratio, compared with 1.00% for RONB.

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

SPIT has the higher dividend yield at 5.64%, compared with 0.00% for RONB.

What is the main difference between RONB and SPIT?

They also come from different issuers: Baron Capital and F/m Investments. Their fees differ too: 1.00% for RONB and 0.89% for SPIT.