AFMC vs. SPMD
AFMC (First Trust Active Factor Mid Cap ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds. AFMC is actively managed, while SPMD is passively managed. Over the past 5 years, AFMC returned 10.49%/yr vs 8.20%/yr for SPMD. With a 0.95 correlation, they move nearly in lockstep. AFMC charges 0.65%/yr vs 0.05%/yr for SPMD.
Performance
AFMC vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, AFMC achieves a 16.54% return, which is significantly higher than SPMD's 14.16% return.
AFMC
- 1D
- 0.05%
- 1M
- 4.34%
- YTD
- 16.54%
- 6M
- 17.09%
- 1Y
- 28.05%
- 3Y*
- 20.73%
- 5Y*
- 10.49%
- 10Y*
- —
SPMD
- 1D
- -0.08%
- 1M
- 3.86%
- YTD
- 14.16%
- 6M
- 14.41%
- 1Y
- 25.49%
- 3Y*
- 16.15%
- 5Y*
- 8.20%
- 10Y*
- 11.51%
AFMC vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AFMC First Trust Active Factor Mid Cap ETF | 16.54% | 10.23% | 19.06% | 21.46% | -15.55% | 25.75% | 5.87% | 2.56% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.16% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 3.48% |
Correlation
The correlation between AFMC and SPMD is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019 | 0.95 |
The correlation between AFMC and SPMD has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
AFMC vs. SPMD — Risk / Return Rank
AFMC
SPMD
AFMC vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Mid Cap ETF (AFMC) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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.
| AFMC | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 2.89 | +0.54 |
| Martin ratioReturn relative to average drawdown | 12.40 | 10.61 | +1.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AFMC | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 1.65 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.42 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.45 | +0.09 |
Drawdowns
AFMC vs. SPMD - Drawdown Comparison
The maximum AFMC drawdown since its inception was -42.14%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for AFMC and SPMD.
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Drawdown Indicators
| AFMC | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.14% | -57.62% | +15.48% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -8.86% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -21.99% | -24.08% | +2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -25.40% | -24.08% | -1.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.86% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.08% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -8.12% | +0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 2.41% | -0.14% |
Volatility
AFMC vs. SPMD - Volatility Comparison
First Trust Active Factor Mid Cap ETF (AFMC) has a higher volatility of 4.71% compared to SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) at 4.38%. This indicates that AFMC's price experiences larger fluctuations and is considered to be riskier than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AFMC | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 4.38% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 11.37% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.94% | 15.57% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 19.70% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.93% | 21.18% | +1.75% |
AFMC vs. SPMD - Expense Ratio Comparison
AFMC has a 0.65% expense ratio, which is higher than SPMD's 0.05% expense ratio.
Dividends
AFMC vs. SPMD - Dividend Comparison
AFMC's dividend yield for the trailing twelve months is around 0.78%, less than SPMD's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFMC First Trust Active Factor Mid Cap ETF | 0.78% | 0.96% | 0.64% | 0.87% | 1.42% | 0.84% | 1.05% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.23% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
Frequently Asked Questions
With a correlation of 0.95, AFMC and SPMD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
AFMC has higher volatility (4.71%) compared to SPMD (4.38%). In terms of maximum drawdown, AFMC dropped -42.14% vs SPMD's -57.62%.
On 5-year performance, AFMC leads with 10.49% vs 8.20% for SPMD. On fees, SPMD is cheaper at 0.05% per year. On volatility, SPMD has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AFMC has performed better with a 10.49% return vs 8.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMD is cheaper with a 0.05% expense ratio, compared with 0.65% for AFMC.
SPMD has the higher dividend yield at 1.23%, compared with 0.78% for AFMC.
They also come from different issuers: First Trust and State Street. Their fees differ too: 0.65% for AFMC and 0.05% for SPMD.
AFMC currently has the higher Sharpe Ratio (1.89 vs 1.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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