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Launched · SEC filings

F/m Emerald Special Situations ETF

SPITNasdaqEmeraldD

$28.51−0.44 (−1.53%)

At close: Nov 2, 2026, 4:00 PM ET

D31/ 100

Rank 108 of 126 in US Active Equity

D31/100Rank 108 of 126inUS Active Equity
Intraday session: down, 79 prints from 28.95 to 28.51. Range 28.50 to 29.23. Use the arrow keys to read each point.28.6028.8029.2010 AM12 PM2 PM4 PM
Expense ratio
0.90%
Fund size
$32M
1Y total return
+10.0%
Yield · Last 12 months
No data
Holdings
45
Avg volume · 30D
5.77K sh
52W range
low $23.69high $35.78
Launched
Filings
SEC EDGAR

The ETF.net SPIT Grade

Based on 5 of 6 pillars

D

Score 31 out of 100

Category
US Active Equity⁠
Rank
108 of 126
Six-pillar profile for SPIT. Scores out of 100: Cost 23, Risk 17, Mission not scored, Tradability 38, Holdings 75, Durability 23. Strongest: Holdings (75). Weakest: Risk (17). Based on 5 of 6 pillars.

Score 31 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F23 out of 100
    Rank 96 of 126

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F17 out of 100
    Rank 117 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D38 out of 100
    Rank 83 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A75 out of 100
    Rank 30 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F23 out of 100
    Rank 120 of 126

Our read on SPIT

ETF.net Research

In short

DEvent-driven stock picking in an ETF wrapper: spin-offs, recapitalizations, transformational M&A, new bosses in the corner office. Benchmark-agnostic, any market cap, concentrated, and priced like the active mandate it is at 0.90%.

Stated mandate

The Fund seeks long-term growth through capital appreciation and primarily invests in equity securities of companies undergoing unique, idiosyncratic situations or transformations, including mergers, reorganizations, and other unusual issuer-specific events.

Why people hold it

  • Hunts catalysts, not sectors: spin-offs, divestitures, recapitalizations, transformational mergers and leadership changes, with at least 80% of assets in such special situations.emeraldetfs.com
  • Benchmark-agnostic and sector-agnostic by design, across market caps, so the portfolio is not anchored to mega-cap index weights.businesswire.com
  • Sub-advised by Emerald's Lancaster, Pennsylvania team, which has managed client money since 1992, under F/m Investments as adviser.businesswire.comnasdaqtrader.com

Worth knowing

  • At 0.90% it sits above the typical US active equity fund, with no fee waiver; index-tracking peers like DFAU (0.12%) and AVLC (0.15%) cost far less.
  • Launched October 2025, so the live record is short, and it has stayed small and lightly traded so far; spreads can run wider than on giant index funds.
  • Concentrated and catalyst-driven: single names swing results, and the issuer frames it as a satellite 'gas pedal' rather than a core holding.businesswire.comyahoo.com

SPIT Performance

Launched Oct 6, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
SPIT$11,002
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SPIT $11,002. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SPIT. Periods over one year show the average yearly return.
PeriodSPIT
Year to date+11.6%
1 month−5.5%
3 months−10.3%
1 year+10.0%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SPIT
YearReturn barSPIT
2026 YTD+11.6%
2025+5.5%

Since listing, Oct 6, 2025

SPIT in the news

SPIT Dividends

Last payment
$1.86 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Nov 13, 2025 $1.86. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Nov 13, 2025Nov 14, 2025$1.86

$10,000 in SPIT 1 year ago paid $657 in dividends.

SPIT Risk

Risk pillarF17 out of 100Rank 117 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
25.0%
Annualised · 12 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.34
vs 3-month T-bills · 12 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−19.5%
12 months · trough Oct 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.47
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SPIT Cost

Compare SPIT and TACU

Overpaying vs TACU, cheapest in US Active Equity

$17,040

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SPIT 0.90%

    $17,040

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • SPIT 0.90%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SPIT $17,040TACU $0

Year by year

YearSPITTACUOverpaying
10$1,593$0$1,593
20$6,015$0$6,015
30$17,040$0$17,040

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