FDVV vs. SPMD
FDVV (Fidelity High Dividend ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both exchange-traded funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index, while SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index. Both are passively managed. Over the past 5 years, FDVV returned 13.83%/yr vs 8.72%/yr for SPMD. Their correlation of 0.85 suggests significant overlap in exposure. FDVV charges 0.29%/yr vs 0.05%/yr for SPMD.
Performance
FDVV vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, FDVV achieves a 9.83% return, which is significantly lower than SPMD's 15.96% return.
FDVV
- 1D
- 0.49%
- 1M
- 4.24%
- YTD
- 9.83%
- 6M
- 10.02%
- 1Y
- 24.53%
- 3Y*
- 19.43%
- 5Y*
- 13.83%
- 10Y*
- —
SPMD
- 1D
- 0.39%
- 1M
- 5.72%
- YTD
- 15.96%
- 6M
- 14.71%
- 1Y
- 28.46%
- 3Y*
- 15.58%
- 5Y*
- 8.72%
- 10Y*
- 11.85%
FDVV vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDVV Fidelity High Dividend ETF | 9.83% | 17.08% | 21.81% | 18.00% | -4.21% | 29.24% | 2.80% | 24.07% | -1.26% | 14.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 15.96% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
Correlation
The correlation between FDVV and SPMD is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016 | 0.85 |
The correlation between FDVV and SPMD shifts across timeframes, from 0.75 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FDVV vs. SPMD — Risk / Return Rank
FDVV
SPMD
FDVV vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) 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.
| FDVV | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.32 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 3.23 | -0.58 |
| Martin ratioReturn relative to average drawdown | 10.98 | 11.84 | -0.86 |
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Drawdowns
FDVV vs. SPMD - Drawdown Comparison
The maximum FDVV drawdown since its inception was -40.25%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for FDVV and SPMD.
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Drawdown Indicators
| FDVV | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.25% | -57.62% | +17.37% |
Max Drawdown (1Y)Largest decline over 1 year | -9.30% | -8.86% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -15.90% | -24.08% | +8.18% |
Max Drawdown (5Y)Largest decline over 5 years | -20.18% | -24.08% | +3.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.86% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.80% | -8.11% | +4.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 2.41% | -0.17% |
Volatility
FDVV vs. SPMD - Volatility Comparison
The current volatility for Fidelity High Dividend ETF (FDVV) is 3.08%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 5.07%. This indicates that FDVV 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
| FDVV | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 5.07% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 11.74% | -3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.07% | 15.86% | -5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.77% | 19.75% | -4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 21.20% | -4.22% |
FDVV vs. SPMD - Expense Ratio Comparison
FDVV has a 0.29% expense ratio, which is higher than SPMD's 0.05% expense ratio.
Dividends
FDVV vs. SPMD - Dividend Comparison
FDVV's dividend yield for the trailing twelve months is around 2.68%, more than SPMD's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDVV Fidelity High Dividend ETF | 2.68% | 2.89% | 2.94% | 3.77% | 3.44% | 2.70% | 3.19% | 3.93% | 4.05% | 3.66% | 1.04% | 0.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.21% | 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
FDVV and SPMD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (5.07%) compared to FDVV (3.08%). In terms of maximum drawdown, FDVV dropped -40.25% vs SPMD's -57.62%.
On 5-year performance, FDVV leads with 13.83% vs 8.72% for SPMD. On fees, SPMD is cheaper at 0.05% per year. On volatility, FDVV has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDVV has performed better with a 13.83% return vs 8.72%. 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 0.29% for FDVV.
FDVV has the higher dividend yield at 2.68%, compared with 1.21% for SPMD.
FDVV is categorized as Large Cap Blend Equities, while SPMD is Mid Cap Blend Equities. FDVV tracks Fidelity Core Dividend Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.29% for FDVV and 0.05% for SPMD.
FDVV currently has the higher Sharpe Ratio (2.45 vs 1.81), 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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