SPIT vs. ILCB

Last updated Apr 1, 2026

Compare and contrast key facts about F/m Emerald Special Situations ETF (SPIT) and iShares Morningstar U.S. Equity ETF (ILCB).

SPIT and ILCB 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. ILCB is a passively managed fund by iShares that tracks the performance of the Morningstar US Large-Mid Cap Index. It was launched on Jun 28, 2004.

Performance

SPIT vs. ILCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m Emerald Special Situations ETF (SPIT) and iShares Morningstar U.S. Equity ETF (ILCB). The values are adjusted to include any dividend payments, if applicable.

SPIT vs. ILCB - Yearly Performance Comparison

	2026 (YTD)	2025
SPIT F/m Emerald Special Situations ETF	2.31%	5.20%
ILCB iShares Morningstar U.S. Equity ETF	-3.86%	1.59%

Returns By Period

In the year-to-date period, SPIT achieves a 2.31% return, which is significantly higher than ILCB's -3.86% return.

SPIT

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

ILCB

• 1D: 0.75%
• 1M: -4.34%
• YTD: -3.86%
• 6M: -1.82%
• 1Y: 18.13%
• 3Y*: 18.59%
• 5Y*: 11.32%
• 10Y*: 13.57%

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

SPIT vs. ILCB - Expense Ratio Comparison

SPIT has a 0.89% expense ratio, which is higher than ILCB's 0.03% expense ratio.

SPIT

F/m Emerald Special Situations ETF

ILCB

iShares Morningstar U.S. Equity ETF

Return for Risk

SPIT vs. ILCB — Risk / Return Rank

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

ILCB

ILCB Risk / Return Rank: 58
ILCB Sharpe Ratio Rank: 53
ILCB Sortino Ratio Rank: 56
ILCB Omega Ratio Rank: 59
ILCB Calmar Ratio Rank: 57
ILCB Martin Ratio Rank: 67

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. ILCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Emerald Special Situations ETF (SPIT) and iShares Morningstar U.S. Equity ETF (ILCB). 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	ILCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.99	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.60	0.00

Correlation

The correlation between SPIT and ILCB is 0.78, 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. ILCB - Dividend Comparison

SPIT's dividend yield for the trailing twelve months is around 7.02%, more than ILCB's 1.12% 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%
ILCB iShares Morningstar U.S. Equity ETF	1.12%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%

Drawdowns

SPIT vs. ILCB - Drawdown Comparison

The maximum SPIT drawdown since its inception was -12.49%, smaller than the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for SPIT and ILCB.

Drawdown Indicators

	SPIT	ILCB	Difference
Max Drawdown Largest peak-to-trough decline	-12.49%	-51.53%	+39.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.30%	—
Current Drawdown Current decline from peak	-8.39%	-5.74%	-2.65%
Average Drawdown Average peak-to-trough decline	-3.00%	-6.28%	+3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.59%	—

Volatility

Volatility by Period

	SPIT	ILCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.37%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.61%	18.42%	+9.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.61%	17.13%	+10.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.61%	18.14%	+9.47%