SPIT vs. FPX

Last updated Apr 1, 2026

Compare and contrast key facts about F/m Emerald Special Situations ETF (SPIT) and First Trust US Equity Opportunities ETF (FPX).

SPIT and FPX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPIT is an actively managed fund by F/m Investments. It was launched on Aug 1, 2014. FPX is a passively managed fund by First Trust that tracks the performance of the IPOX-100 U.S. Index. It was launched on Apr 12, 2006.

Performance

SPIT vs. FPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m Emerald Special Situations ETF (SPIT) and First Trust US Equity Opportunities ETF (FPX). The values are adjusted to include any dividend payments, if applicable.

SPIT vs. FPX - Yearly Performance Comparison

	2026 (YTD)	2025
SPIT F/m Emerald Special Situations ETF	2.31%	5.20%
FPX First Trust US Equity Opportunities ETF	-2.88%	-0.72%

Returns By Period

In the year-to-date period, SPIT achieves a 2.31% return, which is significantly higher than FPX's -2.88% return.

SPIT

• 1D: 4.68%
• 1M: -6.38%
• YTD: 2.31%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FPX

• 1D: 4.38%
• 1M: -4.68%
• YTD: -2.88%
• 6M: -4.25%
• 1Y: 42.94%
• 3Y*: 23.97%
• 5Y*: 5.98%
• 10Y*: 12.79%

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

SPIT vs. FPX - Expense Ratio Comparison

SPIT has a 0.89% expense ratio, which is higher than FPX's 0.57% expense ratio.

SPIT

F/m Emerald Special Situations ETF

FPX

First Trust US Equity Opportunities ETF

Return for Risk

SPIT vs. FPX — Risk / Return Rank

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

FPX

FPX Risk / Return Rank: 83
FPX Sharpe Ratio Rank: 81
FPX Sortino Ratio Rank: 81
FPX Omega Ratio Rank: 76
FPX Calmar Ratio Rank: 90
FPX Martin Ratio Rank: 87

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.

SPIT vs. FPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Emerald Special Situations ETF (SPIT) and First Trust US Equity Opportunities ETF (FPX). 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	FPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.47	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.52	+0.08

Correlation

The correlation between SPIT and FPX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPIT vs. FPX - Dividend Comparison

SPIT's dividend yield for the trailing twelve months is around 7.02%, more than FPX's 0.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPIT F/m Emerald Special Situations ETF	7.02%	7.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FPX First Trust US Equity Opportunities ETF	0.59%	0.53%	0.09%	0.27%	1.08%	0.14%	0.28%	0.67%	0.88%	0.68%	0.77%	0.62%

Drawdowns

SPIT vs. FPX - Drawdown Comparison

The maximum SPIT drawdown since its inception was -12.49%, smaller than the maximum FPX drawdown of -56.29%. Use the drawdown chart below to compare losses from any high point for SPIT and FPX.

Drawdown Indicators

	SPIT	FPX	Difference
Max Drawdown Largest peak-to-trough decline	-12.49%	-56.29%	+43.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.19%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.14%	—
Current Drawdown Current decline from peak	-8.39%	-8.22%	-0.17%
Average Drawdown Average peak-to-trough decline	-3.00%	-11.43%	+8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.18%	—

Volatility

Volatility by Period

	SPIT	FPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.61%	29.34%	-1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.61%	26.54%	+1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.61%	24.17%	+3.44%