SPIT vs. FPX

Last updated Jun 4, 2026

SPIT (F/m Emerald Special Situations ETF) and FPX (First Trust US Equity Opportunities ETF) are both Large Cap Growth Equities funds. SPIT is actively managed, while FPX is passively managed. Their correlation of 0.82 suggests significant overlap in exposure. SPIT charges 0.89%/yr vs 0.57%/yr for FPX.

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.

Returns By Period

In the year-to-date period, SPIT achieves a 25.30% return, which is significantly higher than FPX's 18.28% return.

SPIT

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

FPX

• 1D: -0.55%
• 1M: 4.63%
• YTD: 18.28%
• 6M: 18.02%
• 1Y: 39.24%
• 3Y*: 32.32%
• 5Y*: 10.31%
• 10Y*: 14.65%

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

SPIT vs. FPX - Yearly Performance Comparison

	2026 (YTD)	2025
SPIT F/m Emerald Special Situations ETF	25.30%	5.20%
FPX First Trust US Equity Opportunities ETF	18.28%	-0.72%

Correlation

The correlation between SPIT and FPX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 7, 2025	0.82

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: 52
FPX Sharpe Ratio Rank: 49
FPX Sortino Ratio Rank: 44
FPX Omega Ratio Rank: 43
FPX Calmar Ratio Rank: 64
FPX Martin Ratio Rank: 58

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	—	1.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.57	+1.43

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	—	-12.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-30.88%	—
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	-1.85%	-0.83%	-1.02%
Average Drawdown Average peak-to-trough decline	-2.62%	-11.34%	+8.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.78%	—

Volatility

Volatility by Period

	SPIT	FPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.35%	23.10%	+3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.35%	26.49%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.35%	24.28%	+2.07%

SPIT vs. FPX - Expense Ratio Comparison

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

Dividends

SPIT vs. FPX - Dividend Comparison

SPIT's dividend yield for the trailing twelve months is around 5.73%, more than FPX's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPX First Trust US Equity Opportunities ETF	0.49%	0.53%	0.09%	0.27%	1.08%	0.14%	0.28%	0.67%	0.88%	0.68%	0.77%	0.62%
SPIT F/m Emerald Special Situations ETF	5.73%	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

Can I hold both SPIT and FPX in my portfolio?

SPIT and FPX have a correlation of 0.82, 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 FPX?

On fees, FPX is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPIT or FPX?

FPX is cheaper with a 0.57% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.73%, compared with 0.49% for FPX.

What is the main difference between SPIT and FPX?

They also come from different issuers: F/m Investments and First Trust. Their fees differ too: 0.89% for SPIT and 0.57% for FPX.