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EUSA vs. SPMD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUSA vs. SPMD

Last updated Jun 5, 2026

EUSA (iShares MSCI USA Equal Weighted ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds - EUSA tracks the MSCI USA Equal Weighted Index while SPMD tracks the S&P MidCap 400 Index. Both are passively managed. Over the past 10 years, EUSA returned 11.57%/yr vs 11.39%/yr for SPMD. Their correlation of 0.82 suggests significant overlap in exposure. EUSA charges 0.09%/yr vs 0.05%/yr for SPMD.

Performance

EUSA vs. SPMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Equal Weighted ETF (EUSA) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUSA achieves a 10.04% return, which is significantly lower than SPMD's 14.54% return. Both investments have delivered pretty close results over the past 10 years, with EUSA having a 11.57% annualized return and SPMD not far behind at 11.39%.

EUSA

1D
0.81%
1M
3.88%
YTD
10.04%
6M
10.00%
1Y
19.17%
3Y*
16.37%
5Y*
7.90%
10Y*
11.57%

SPMD

1D
0.33%
1M
2.89%
YTD
14.54%
6M
14.24%
1Y
26.21%
3Y*
16.67%
5Y*
8.28%
10Y*
11.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUSA vs. SPMD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EUSA
iShares MSCI USA Equal Weighted ETF		10.04%10.24%14.64%17.72%-17.13%25.60%15.03%30.56%-8.58%19.02%
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		14.54%7.44%13.91%16.48%-13.13%24.76%13.46%25.19%-10.34%15.12%

Correlation

The correlation between EUSA and SPMD is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.95

Correlation (5Y)
Calculated over the trailing 5-year period

0.95

Correlation (10Y)
Calculated over the trailing 10-year period

0.93

Correlation (All Time)
Calculated using the full available price history since May 10, 2010

0.82

The correlation between EUSA and SPMD shifts across timeframes, from 0.82 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI USA Equal Weighted ETF

SPDR Portfolio S&P 400 Mid Cap ETF

Often compared with EUSA:
EUSA vs. RSPEUSA vs. GSEWEUSA vs. VOOEUSA vs. VTIEUSA vs. ^GSPCEUSA vs. SCHGEUSA vs. ITOT
Often compared with SPMD:
SPMD vs. MDYSPMD vs. VOSPMD vs. SPYSPMD vs. SCHMSPMD vs. IWRSPMD vs. IMCBSPMD vs. SWMCX

Return for Risk

EUSA vs. SPMD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUSA
EUSA Risk / Return Rank: 5050
Overall Rank
EUSA Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
EUSA Sortino Ratio Rank: 4949
Sortino Ratio Rank
EUSA Omega Ratio Rank: 4646
Omega Ratio Rank
EUSA Calmar Ratio Rank: 5151
Calmar Ratio Rank
EUSA Martin Ratio Rank: 5757
Martin Ratio Rank
SPMD
SPMD Risk / Return Rank: 5555
Overall Rank
SPMD Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
SPMD Sortino Ratio Rank: 5252
Sortino Ratio Rank
SPMD Omega Ratio Rank: 4848
Omega Ratio Rank
SPMD Calmar Ratio Rank: 6161
Calmar Ratio Rank
SPMD Martin Ratio Rank: 6262
Martin Ratio Rank
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.

EUSA vs. SPMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Equal Weighted ETF (EUSA) 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.

EUSASPMDDifference
Sharpe ratioReturn per unit of total volatility
1.63
1.70

-0.06

Sortino ratioReturn per unit of downside risk
2.36
2.47

-0.11

Omega ratioGain probability vs. loss probability

1.28

1.30

-0.02

Calmar ratioReturn relative to maximum drawdown

2.46

2.97

-0.51

Martin ratioReturn relative to average drawdown

9.76

10.91

-1.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUSA vs. SPMD - Sharpe Ratio Comparison

The current EUSA Sharpe Ratio is 1.63, which is comparable to the SPMD Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of EUSA 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.

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Sharpe Ratios by Period

EUSASPMDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.63

1.70

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.42

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.54

+0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.45

+0.25

Drawdowns

EUSA vs. SPMD - Drawdown Comparison

The maximum EUSA drawdown since its inception was -39.16%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for EUSA and SPMD.

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Drawdown Indicators

EUSASPMDDifference

Max Drawdown

Largest peak-to-trough decline

-39.16%

-57.62%

+18.46%

Max Drawdown (1Y)

Largest decline over 1 year

-7.82%

-8.86%

+1.04%

Max Drawdown (3Y)

Largest decline over 3 years

-18.20%

-24.08%

+5.88%

Max Drawdown (5Y)

Largest decline over 5 years

-25.24%

-24.08%

-1.16%

Max Drawdown (10Y)

Largest decline over 10 years

-39.16%

-41.86%

+2.70%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.59%

-8.12%

+3.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.97%

2.41%

-0.44%

Volatility

EUSA vs. SPMD - Volatility Comparison

The current volatility for iShares MSCI USA Equal Weighted ETF (EUSA) is 2.93%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 4.23%. This indicates that EUSA 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.

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Volatility by Period

EUSASPMDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.93%

4.23%

-1.30%

Volatility (6M)

Calculated over the trailing 6-month period

8.75%

11.36%

-2.61%

Volatility (1Y)

Calculated over the trailing 1-year period

11.80%

15.53%

-3.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.95%

19.70%

-2.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.34%

21.18%

-2.84%

EUSA vs. SPMD - Expense Ratio Comparison

EUSA has a 0.09% expense ratio, which is higher than SPMD's 0.05% 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

EUSA vs. SPMD - Dividend Comparison

EUSA's dividend yield for the trailing twelve months is around 1.51%, more than SPMD's 1.22% yield.

PositionTTM20252024202320222021202020192018201720162015
EUSA
iShares MSCI USA Equal Weighted ETF		1.51%1.63%1.47%1.53%1.73%1.23%1.45%1.49%2.01%1.50%1.59%2.21%
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		1.22%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 0.92, EUSA 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.

SPMD has higher volatility (4.23%) compared to EUSA (2.93%). In terms of maximum drawdown, EUSA dropped -39.16% vs SPMD's -57.62%.

On 10-year performance, EUSA leads with 11.57% vs 11.39% for SPMD. On fees, SPMD is cheaper at 0.05% per year. On volatility, EUSA has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EUSA has performed better with a 11.57% return vs 11.39%. 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 0.09% for EUSA.

EUSA has the higher dividend yield at 1.51%, compared with 1.22% for SPMD.

EUSA tracks MSCI USA Equal Weighted Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for EUSA and 0.05% for SPMD.

SPMD currently has the higher Sharpe Ratio (1.70 vs 1.63), 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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