TNXT vs. SPIT

Last updated Jul 12, 2026

TNXT (T. Rowe Price Innovation Leaders ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. TNXT charges 0.49%/yr vs 0.89%/yr for SPIT.

Performance

TNXT vs. SPIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Innovation Leaders ETF (TNXT) and F/m Emerald Special Situations ETF (SPIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TNXT

• 1D: -0.21%
• 1M: 5.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPIT

• 1D: -1.32%
• 1M: 2.53%
• 6M: 21.58%
• YTD: 29.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TNXT vs. SPIT - Yearly Performance Comparison

	2026 (YTD)
TNXT T. Rowe Price Innovation Leaders ETF	12.47%
SPIT F/m Emerald Special Situations ETF	19.09%

Correlation

The correlation between TNXT and SPIT is 0.84, 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 Jan 29, 2026	0.84

Return for Risk

TNXT vs. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Innovation Leaders ETF (TNXT) and F/m Emerald Special Situations ETF (SPIT). 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.

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

Drawdowns

TNXT vs. SPIT - Drawdown Comparison

The maximum TNXT drawdown since its inception was -13.11%, roughly equal to the maximum SPIT drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for TNXT and SPIT.

Drawdown Indicators

	TNXT	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-13.11%	-12.49%	-0.62%
Current Drawdown Current decline from peak	-0.21%	-3.59%	+3.38%
Average Drawdown Average peak-to-trough decline	-3.28%	-2.50%	-0.78%

Volatility

Volatility by Period

	TNXT	SPIT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	21.23%	26.35%	-5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.23%	26.35%	-5.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	26.35%	-5.12%

TNXT vs. SPIT - Expense Ratio Comparison

TNXT has a 0.49% expense ratio, which is lower than SPIT's 0.89% expense ratio.

Dividends

TNXT vs. SPIT - Dividend Comparison

TNXT has not paid dividends to shareholders, while SPIT's dividend yield for the trailing twelve months is around 5.53%.

Position	TTM	2025
SPIT F/m Emerald Special Situations ETF	5.53%	7.18%
TNXT T. Rowe Price Innovation Leaders ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TNXT and SPIT in my portfolio?

TNXT and SPIT have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TNXT or SPIT?

On fees, TNXT is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TNXT or SPIT?

TNXT is cheaper with a 0.49% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.53%, compared with 0.00% for TNXT.

What is the main difference between TNXT and SPIT?

They also come from different issuers: T. Rowe Price and F/m Investments. Their fees differ too: 0.49% for TNXT and 0.89% for SPIT.