DDV vs. MSTI

Last updated Jun 4, 2026

DDV (Defined Duration 5 ETF) and MSTI (Madison Short-Term Strategic Income ETF) are both exchange-traded funds - DDV is a Intermediate Core Bond fund actively managed by Discipline Funds, while MSTI is a Short-Term Bond fund actively managed by Madison. Both are actively managed. A 0.64 correlation means they provide meaningful diversification when combined. DDV charges 0.25%/yr vs 0.40%/yr for MSTI.

Performance

DDV vs. MSTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defined Duration 5 ETF (DDV) and Madison Short-Term Strategic Income ETF (MSTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDV achieves a 2.23% return, which is significantly higher than MSTI's 0.63% return.

DDV

• 1D: -0.02%
• 1M: 0.73%
• YTD: 2.23%
• 6M: 2.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTI

• 1D: -0.12%
• 1M: 0.14%
• YTD: 0.63%
• 6M: 0.87%
• 1Y: 4.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDV vs. MSTI - Yearly Performance Comparison

	2026 (YTD)	2025
DDV Defined Duration 5 ETF	2.23%	0.71%
MSTI Madison Short-Term Strategic Income ETF	0.63%	0.85%

Correlation

The correlation between DDV and MSTI is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025	0.64

Return for Risk

DDV vs. MSTI — Risk / Return Rank

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

MSTI

MSTI Risk / Return Rank: 60
MSTI Sharpe Ratio Rank: 51
MSTI Sortino Ratio Rank: 55
MSTI Omega Ratio Rank: 57
MSTI Calmar Ratio Rank: 66
MSTI Martin Ratio Rank: 72

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.

DDV vs. MSTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defined Duration 5 ETF (DDV) and Madison Short-Term Strategic Income ETF (MSTI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DDV	MSTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.06	2.17	-0.11

Drawdowns

DDV vs. MSTI - Drawdown Comparison

The maximum DDV drawdown since its inception was -1.92%, which is greater than MSTI's maximum drawdown of -1.48%. Use the drawdown chart below to compare losses from any high point for DDV and MSTI.

Drawdown Indicators

	DDV	MSTI	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-1.48%	-0.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.32%	—
Current Drawdown Current decline from peak	-0.12%	-0.33%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.35%	-0.29%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.32%	—

Volatility

Volatility by Period

	DDV	MSTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.68%	2.45%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.68%	2.71%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.68%	2.71%	-0.03%

DDV vs. MSTI - Expense Ratio Comparison

DDV has a 0.25% expense ratio, which is lower than MSTI's 0.40% expense ratio.

Dividends

DDV vs. MSTI - Dividend Comparison

DDV's dividend yield for the trailing twelve months is around 1.21%, less than MSTI's 5.34% yield.

Position	TTM	2025	2024	2023
DDV Defined Duration 5 ETF	1.21%	0.42%	0.00%	0.00%
MSTI Madison Short-Term Strategic Income ETF	5.34%	5.40%	5.48%	1.55%

Frequently Asked Questions

Can I hold both DDV and MSTI in my portfolio?

DDV and MSTI have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDV or MSTI?

On fees, DDV is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDV or MSTI?

DDV is cheaper with a 0.25% expense ratio, compared with 0.40% for MSTI.

Which ETF pays a higher dividend yield, DDV or MSTI?

MSTI has the higher dividend yield at 5.34%, compared with 1.21% for DDV.

What is the main difference between DDV and MSTI?

DDV is categorized as Intermediate Core Bond, while MSTI is Short-Term Bond. They also come from different issuers: Discipline Funds and Madison. Their fees differ too: 0.25% for DDV and 0.40% for MSTI.