AVMC vs. SPMD

Last updated Jun 23, 2026

AVMC (Avantis U.S. Mid Cap Equity ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds. AVMC is actively managed, while SPMD is passively managed. Over the past year, AVMC returned 24.86% vs 27.54% for SPMD. With a 0.98 correlation, they move nearly in lockstep. AVMC charges 0.20%/yr vs 0.03%/yr for SPMD.

Performance

AVMC vs. SPMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Mid Cap Equity ETF (AVMC) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVMC achieves a 13.20% return, which is significantly lower than SPMD's 15.83% return.

AVMC

• 1D: 0.45%
• 1M: 2.39%
• YTD: 13.20%
• 6M: 11.34%
• 1Y: 24.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPMD

• 1D: 0.44%
• 1M: 3.74%
• YTD: 15.83%
• 6M: 13.38%
• 1Y: 27.54%
• 3Y*: 16.54%
• 5Y*: 8.92%
• 10Y*: 11.98%

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

AVMC vs. SPMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVMC Avantis U.S. Mid Cap Equity ETF	13.20%	9.98%	16.84%	14.02%
SPMD SPDR Portfolio S&P 400 Mid Cap ETF	15.83%	7.44%	13.91%	14.52%

Correlation

The correlation between AVMC and SPMD is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.98

The correlation between AVMC and SPMD has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

AVMC vs. SPMD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVMC

AVMC Risk / Return Rank: 58
AVMC Sharpe Ratio Rank: 54
AVMC Sortino Ratio Rank: 55
AVMC Omega Ratio Rank: 51
AVMC Calmar Ratio Rank: 66
AVMC Martin Ratio Rank: 66

SPMD

SPMD Risk / Return Rank: 57
SPMD Sharpe Ratio Rank: 53
SPMD Sortino Ratio Rank: 54
SPMD Omega Ratio Rank: 50
SPMD Calmar Ratio Rank: 65
SPMD Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVMC vs. SPMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Mid Cap Equity ETF (AVMC) 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.

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.

	AVMC	SPMD	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.74	+0.04
Sortino ratio: Return per unit of downside risk	2.57	2.53	+0.04
Omega ratio: Gain probability vs. loss probability	1.31	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	3.16	3.12	+0.04
Martin ratio: Return relative to average drawdown	11.76	11.45	+0.31

AVMC vs. SPMD - Sharpe Ratio Comparison

The current AVMC Sharpe Ratio is 1.78, which is comparable to the SPMD Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of AVMC and SPMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVMC vs. SPMD - Drawdown Comparison

The maximum AVMC drawdown since its inception was -21.84%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for AVMC and SPMD.

Drawdown Indicators

	AVMC	SPMD	Difference
Max Drawdown Largest peak-to-trough decline	-21.84%	-57.62%	+35.78%
Max Drawdown (1Y) Largest decline over 1 year	-7.90%	-8.86%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.86%	—
Current Drawdown Current decline from peak	-0.43%	-0.11%	-0.32%
Average Drawdown Average peak-to-trough decline	-3.17%	-8.10%	+4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	2.41%	-0.29%

Volatility

AVMC vs. SPMD - Volatility Comparison

The current volatility for Avantis U.S. Mid Cap Equity ETF (AVMC) is 4.05%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 4.55%. This indicates that AVMC experiences smaller price fluctuations and is considered to be less risky than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVMC	SPMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	4.55%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	11.74%	-1.41%
Volatility (1Y) Calculated over the trailing 1-year period	14.03%	15.89%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.96%	19.72%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.96%	21.21%	-4.25%

AVMC vs. SPMD - Expense Ratio Comparison

AVMC has a 0.20% expense ratio, which is higher than SPMD's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVMC vs. SPMD - Dividend Comparison

AVMC's dividend yield for the trailing twelve months is around 1.21%, less than SPMD's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVMC Avantis U.S. Mid Cap Equity ETF	1.21%	1.12%	1.02%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPMD SPDR Portfolio S&P 400 Mid Cap ETF	1.53%	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

Can I hold both AVMC and SPMD in my portfolio?

With a correlation of 0.97, AVMC 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.

Which is riskier, AVMC or SPMD?

SPMD has higher volatility (4.55%) compared to AVMC (4.05%). In terms of maximum drawdown, AVMC dropped -21.84% vs SPMD's -57.62%.

Which ETF is better, AVMC or SPMD?

On 1-year performance, SPMD leads with 27.54% vs 24.86% for AVMC. On fees, SPMD is cheaper at 0.03% per year. On volatility, AVMC has been the lower-risk option at 4.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVMC or SPMD?

Over the 1-year period, SPMD has performed better with a 27.54% return vs 24.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVMC or SPMD?

SPMD is cheaper with a 0.03% expense ratio, compared with 0.20% for AVMC.

Which ETF pays a higher dividend yield, AVMC or SPMD?

SPMD has the higher dividend yield at 1.53%, compared with 1.21% for AVMC.

What is the main difference between AVMC and SPMD?

They also come from different issuers: Avantis and State Street. Their fees differ too: 0.20% for AVMC and 0.03% for SPMD.

Which has better risk-adjusted returns?

AVMC currently has the higher Sharpe Ratio (1.78 vs 1.74), 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.