SPIT vs. ERX
SPIT (F/m Emerald Special Situations ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - SPIT is a Large Cap Growth Equities fund actively managed by F/m, while ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%). SPIT is actively managed, while ERX is passively managed. Their -0.09 correlation means they have often moved in opposite directions in the past. SPIT charges 0.89%/yr vs 0.91%/yr for ERX.
Performance
SPIT vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, SPIT achieves a 30.69% return, which is significantly lower than ERX's 58.73% return.
SPIT
- 1D
- -0.22%
- 1M
- -1.60%
- 6M
- 25.62%
- YTD
- 30.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
ERX
- 1D
- -3.72%
- 1M
- 15.60%
- 6M
- 14.96%
- YTD
- 58.73%
- 1Y
- 73.31%
- 3Y*
- 14.98%
- 5Y*
- 33.57%
- 10Y*
- -9.50%
- ALL TIME*
- -7.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.06M | $23.66M | $27.73M | |
| $199.90K | $263.70K | $196.54K |
SPIT vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPIT F/m Emerald Special Situations ETF | 30.69% | 5.31% |
ERX Direxion Daily Energy Bull 2X Shares | 58.73% | 0.57% |
Correlation
The correlation between SPIT and ERX is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025 | -0.09 |
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Return for Risk
SPIT vs. ERX — Risk / Return Rank
SPIT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ERX
SPIT vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m Emerald Special Situations ETF (SPIT) and Direxion Daily Energy Bull 2X Shares (ERX). 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.
| SPIT | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.27 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.46 | — |
| Martin ratioReturn relative to average drawdown | — | 6.18 | — |
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Drawdowns
SPIT vs. ERX - Drawdown Comparison
The maximum SPIT drawdown since its inception was -12.49%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for SPIT and ERX.
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Drawdown Indicators
| SPIT | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.49% | -99.54% | +87.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -29.97% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | -2.91% | -91.99% | +89.08% |
Average DrawdownAverage peak-to-trough decline | -2.87% | -67.26% | +64.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.90% | — |
Volatility
SPIT vs. ERX - Volatility Comparison
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Volatility by Period
| SPIT | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 12.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 33.24% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 26.69% | 42.40% | -15.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.69% | 51.46% | -24.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.69% | 68.84% | -42.15% |
SPIT vs. ERX - Expense Ratio Comparison
SPIT has a 0.89% expense ratio, which is lower than ERX's 0.91% expense ratio.
Dividends
SPIT vs. ERX - Dividend Comparison
SPIT's dividend yield for the trailing twelve months is around 5.49%, more than ERX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.61% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
SPIT F/m Emerald Special Situations ETF | 5.49% | 7.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPIT and ERX have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPIT is cheaper with a 0.89% expense ratio, compared with 0.91% for ERX.
SPIT has the higher dividend yield at 5.49%, compared with 1.61% for ERX.
SPIT is categorized as Large Cap Growth Equities, while ERX is Energy Equities. They also come from different issuers: F/m and Direxion. Their fees differ too: 0.89% for SPIT and 0.91% for ERX.
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