Core Viewpoint - Emerald Advisers is launching the F/m Emerald Special Situations ETF (NASDAQ:SPIT), which aims to target companies undergoing significant transformations, diverging from traditional benchmark-focused ETFs [2][5]. Group 1: ETF Characteristics - SPIT is designed for investors seeking unique opportunities that avoid crowded strategies and mega-cap concentration [3]. - The fund managers are not limited by sector or geography, allowing them to invest in companies where the market may be temporarily confused [3][5]. - The ETF is compared to a "gas pedal" within a portfolio, providing true diversification beyond existing holdings [4]. Group 2: Market Context - The launch of SPIT comes at a time when passive ETFs are experiencing record inflows and market concentration risks are at multi-decade highs, highlighting the need for active management [5]. - This ETF represents the second collaboration between Emerald Advisers and F/m Investments, following the introduction of the F/m Emerald Life Sciences Innovation ETF (NASDAQ:LFSC) [5].