SPIT vs. CPHY

Last updated Jun 4, 2026

SPIT (F/m Emerald Special Situations ETF) and CPHY (F/m Compoundr High Yield Bond ETF) are both exchange-traded funds - SPIT is a Large Cap Growth Equities fund actively managed by F/m Investments, while CPHY is a High Yield Bonds fund tracking the Nasdaq Compoundr U.S. High Yield Bond Index. SPIT is actively managed, while CPHY is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. SPIT charges 0.89%/yr vs 0.35%/yr for CPHY.

Performance

SPIT vs. CPHY - Performance Comparison

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

Returns By Period

In the year-to-date period, SPIT achieves a 25.30% return, which is significantly higher than CPHY's 0.25% return.

SPIT

• 1D: -1.85%
• 1M: 3.31%
• YTD: 25.30%
• 6M: 23.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPHY

• 1D: -0.18%
• 1M: 0.31%
• YTD: 0.25%
• 6M: 0.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPIT vs. CPHY - Yearly Performance Comparison

	2026 (YTD)	2025
SPIT F/m Emerald Special Situations ETF	25.30%	5.20%
CPHY F/m Compoundr High Yield Bond ETF	0.25%	1.03%

Correlation

The correlation between SPIT and CPHY is 0.64, 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 7, 2025	0.64

Return for Risk

SPIT vs. CPHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Emerald Special Situations ETF (SPIT) and F/m Compoundr High Yield Bond ETF (CPHY). 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.

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

Sharpe Ratios by Period

	SPIT	CPHY	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.89	+1.10

Drawdowns

SPIT vs. CPHY - Drawdown Comparison

The maximum SPIT drawdown since its inception was -12.49%, which is greater than CPHY's maximum drawdown of -2.51%. Use the drawdown chart below to compare losses from any high point for SPIT and CPHY.

Drawdown Indicators

	SPIT	CPHY	Difference
Max Drawdown Largest peak-to-trough decline	-12.49%	-2.51%	-9.98%
Current Drawdown Current decline from peak	-1.85%	-0.74%	-1.11%
Average Drawdown Average peak-to-trough decline	-2.62%	-0.56%	-2.06%

Volatility

Volatility by Period

	SPIT	CPHY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	26.35%	3.59%	+22.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.35%	3.59%	+22.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.35%	3.59%	+22.76%

SPIT vs. CPHY - Expense Ratio Comparison

SPIT has a 0.89% expense ratio, which is higher than CPHY's 0.35% expense ratio.

Dividends

SPIT vs. CPHY - Dividend Comparison

SPIT's dividend yield for the trailing twelve months is around 5.73%, while CPHY has not paid dividends to shareholders.

Position	TTM	2025
CPHY F/m Compoundr High Yield Bond ETF	0.00%	0.00%
SPIT F/m Emerald Special Situations ETF	5.73%	7.18%

Frequently Asked Questions

Can I hold both SPIT and CPHY in my portfolio?

SPIT and CPHY have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPIT or CPHY?

On fees, CPHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPIT or CPHY?

CPHY is cheaper with a 0.35% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.73%, compared with 0.00% for CPHY.

What is the main difference between SPIT and CPHY?

SPIT is categorized as Large Cap Growth Equities, while CPHY is High Yield Bonds. Their fees differ too: 0.89% for SPIT and 0.35% for CPHY.