F/m Emerald Special Situations ETF
$30.20−0.38 (−1.26%)
- 0.89%
- $33M
- +26.6%
- 0M sh
- $30.88
- low $23.69high $35.78
The ETF.net SPIT Grade
D
Score 33 out of 100
- 105 of 127
Score 33 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.D25 out of 100Rank 95 of 127Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F22 out of 100Rank 113 of 126Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C41 out of 100Rank 79 of 127Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A72 out of 100Rank 35 of 124Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F24 out of 100Rank 120 of 127
Our read on SPIT
DAn event-driven stock picker in ETF wrapping. SPIT hunts mergers, reorganizations and other one-off corporate shake-ups, benchmark-agnostic and sector-agnostic, run by an Emerald team managing US equity money since the early 1990s.
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
- Buys the catalyst, not the index: the mandate targets companies going through mergers, reorganizations and other unusual issuer-specific events.
- Benchmark-agnostic and sector-agnostic by design, so managers can roam across sectors and market caps instead of anchoring to mega-cap-heavy core exposure.businesswire.com
- Sub-advised by Emerald Advisers, a Pennsylvania shop running active US equity since 1991, in a concentrated high-conviction book rather than a sprawling name list.businesswire.com
- The portfolio itself is the strongest part of the package: a genuinely differentiated set of holdings, not an index tracker wearing an active label.
Worth knowing
- Charges 0.89% a year, well above the typical active US equity ETF, and that fee applies whether or not the situations play out.
- Launched in 2025, still a small and thinly traded fund, so bid-ask spreads can be wider than in the giants of its category and the live record is short.
- Deals break. The fund's own risk language notes a special situation may never happen or may take far longer than expected, pressuring the shares involved.businesswire.com
SPIT Holdings
- Stocks
- 45
- 38%
- CORT
Geography
- United States94.03%
- United Kingdom3.17%
- Cayman Islands2.80%
SPIT Performance
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$12,663
Returns run to the Oct 12, 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.
| Period | SPIT |
|---|---|
| Year to date | +17.9% |
| 1 month | −2.6% |
| 3 months | −9.2% |
| 1 year | +26.6% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SPIT |
|---|---|---|
| 2026 YTD | +17.9% | |
| 2025 | +5.5% |
SPIT in the news
SPIT Dividends
- $1.86 per share
- Irregular
Distribution data unavailable.
Distribution history
SPIT Risk
- —
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.
- —
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.
- −12.8%
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.
- 1.47
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPIT Cost
0.89%
SPIT0.89%
- The middle half of US Active Equity funds
- Median 0.70%
92 of the 123 US Active Equity funds charge less.
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