SPIT vs. ZHOG

Last updated Aug 2, 2026

SPIT (F/m Emerald Special Situations ETF) and ZHOG (F/m Opportunistic Income ETF) are both exchange-traded funds - SPIT is a Large Cap Growth Equities fund actively managed by F/m, while ZHOG is a Intermediate Core-Plus Bond fund actively managed by F/m. Both are actively managed. Their 0.34 correlation means their historical movements had little consistent relationship. SPIT charges 0.89%/yr vs 0.43%/yr for ZHOG.

Performance

SPIT vs. ZHOG - 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 Opportunistic Income ETF (ZHOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPIT achieves a 24.45% return, which is significantly higher than ZHOG's 0.84% return.

SPIT

• 1D: 0.51%
• 1M: -5.03%
• 6M: 16.23%
• YTD: 24.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

ZHOG

• 1D: -0.02%
• 1M: -0.29%
• 6M: 0.45%
• YTD: 0.84%
• 1Y: 3.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPIT F/m Emerald Special Situations ETF	$242.68K	$282.09K	$201.11K
ZHOG F/m Opportunistic Income ETF	$58.62K	$55.64K	$69.45K

SPIT vs. ZHOG - Yearly Performance Comparison

	2026 (YTD)	2025
SPIT F/m Emerald Special Situations ETF	24.45%	5.31%
ZHOG F/m Opportunistic Income ETF	0.84%	1.02%

Correlation

The correlation between SPIT and ZHOG is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.34

Return for Risk

SPIT vs. ZHOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPIT

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

ZHOG

ZHOG Risk / Return Rank: 89
ZHOG Sharpe Ratio Rank: 92
ZHOG Sortino Ratio Rank: 93
ZHOG Omega Ratio Rank: 93
ZHOG Calmar Ratio Rank: 82
ZHOG Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPIT vs. ZHOG - 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 Opportunistic Income ETF (ZHOG). 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	ZHOG	Difference
Sharpe ratio: Return per unit of total volatility	—	2.43	—
Sortino ratio: Return per unit of downside risk	—	3.59	—
Omega ratio: Gain probability vs. loss probability	—	1.46	—
Calmar ratio: Return relative to maximum drawdown	—	3.01	—
Martin ratio: Return relative to average drawdown	—	12.31	—

Drawdowns

SPIT vs. ZHOG - Drawdown Comparison

The maximum SPIT drawdown since its inception was -12.49%, which is greater than ZHOG's maximum drawdown of -3.66%. Use the drawdown chart below to compare losses from any high point for SPIT and ZHOG.

Drawdown Indicators

	SPIT	ZHOG	Difference
Max Drawdown Largest peak-to-trough decline	-12.49%	-3.66%	-8.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.31%	—
Current Drawdown Current decline from peak	-7.55%	-0.54%	-7.01%
Average Drawdown Average peak-to-trough decline	-2.85%	-0.67%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.32%	—

Volatility

Volatility by Period

	SPIT	ZHOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.59%	1.62%	+24.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.59%	3.93%	+22.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.59%	3.93%	+22.66%

SPIT vs. ZHOG - Expense Ratio Comparison

SPIT has a 0.89% expense ratio, which is higher than ZHOG's 0.43% expense ratio.

Dividends

SPIT vs. ZHOG - Dividend Comparison

SPIT's dividend yield for the trailing twelve months is around 5.77%, more than ZHOG's 5.52% yield.

Position	TTM	2025	2024	2023
SPIT F/m Emerald Special Situations ETF	5.77%	7.18%	0.00%	0.00%
ZHOG F/m Opportunistic Income ETF	5.04%	5.35%	5.50%	1.70%

Frequently Asked Questions

Can I hold both SPIT and ZHOG in my portfolio?

SPIT and ZHOG have a correlation of 0.34, 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 ZHOG?

On fees, ZHOG is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPIT or ZHOG?

ZHOG is cheaper with a 0.43% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.77%, compared with 5.04% for ZHOG.

What is the main difference between SPIT and ZHOG?

SPIT is categorized as Large Cap Growth Equities, while ZHOG is Intermediate Core-Plus Bond. Their fees differ too: 0.89% for SPIT and 0.43% for ZHOG.