FLDZ vs. SPMD
FLDZ (RiverNorth Patriot ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds. FLDZ is actively managed, while SPMD is passively managed. Over the past 3 years, FLDZ returned 13.19%/yr vs 16.15%/yr for SPMD. Their correlation of 0.94 suggests significant overlap in exposure. FLDZ charges 0.77%/yr vs 0.05%/yr for SPMD.
Performance
FLDZ vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, FLDZ achieves a 4.32% return, which is significantly lower than SPMD's 14.16% return.
FLDZ
- 1D
- -0.20%
- 1M
- -0.80%
- YTD
- 4.32%
- 6M
- 3.13%
- 1Y
- 8.06%
- 3Y*
- 13.19%
- 5Y*
- —
- 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%
FLDZ vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLDZ RiverNorth Patriot ETF | 4.32% | 6.66% | 15.99% | 12.15% | -11.99% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.16% | 7.44% | 13.91% | 16.48% | -13.41% |
Correlation
The correlation between FLDZ and SPMD is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2022 | 0.94 |
The correlation between FLDZ and SPMD has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
FLDZ vs. SPMD — Risk / Return Rank
FLDZ
SPMD
FLDZ vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RiverNorth Patriot ETF (FLDZ) 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.
| FLDZ | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.89 | -1.59 |
| Martin ratioReturn relative to average drawdown | 3.94 | 10.61 | -6.67 |
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
| FLDZ | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.65 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.42 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.45 | -0.12 |
Drawdowns
FLDZ vs. SPMD - Drawdown Comparison
The maximum FLDZ drawdown since its inception was -19.54%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for FLDZ and SPMD.
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Drawdown Indicators
| FLDZ | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.54% | -57.62% | +38.08% |
Max Drawdown (1Y)Largest decline over 1 year | -6.25% | -8.86% | +2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -17.43% | -24.08% | +6.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.86% | — |
Current DrawdownCurrent decline from peak | -1.72% | -0.08% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -5.98% | -8.12% | +2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 2.41% | -0.36% |
Volatility
FLDZ vs. SPMD - Volatility Comparison
The current volatility for RiverNorth Patriot ETF (FLDZ) is 2.57%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 4.38%. This indicates that FLDZ 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
| FLDZ | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 4.38% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 11.37% | -3.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 15.57% | -4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 19.70% | -2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.91% | 21.18% | -4.27% |
FLDZ vs. SPMD - Expense Ratio Comparison
FLDZ has a 0.77% expense ratio, which is higher than SPMD's 0.05% expense ratio.
Dividends
FLDZ vs. SPMD - Dividend Comparison
FLDZ's dividend yield for the trailing twelve months is around 1.48%, more than SPMD's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLDZ RiverNorth Patriot ETF | 1.48% | 1.54% | 1.17% | 1.39% | 1.52% | 0.00% | 0.00% | 0.00% | 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
FLDZ and SPMD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (4.38%) compared to FLDZ (2.57%). In terms of maximum drawdown, FLDZ dropped -19.54% vs SPMD's -57.62%.
On 3-year performance, SPMD leads with 16.15% vs 13.19% for FLDZ. On fees, SPMD is cheaper at 0.05% per year. On volatility, FLDZ has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPMD has performed better with a 16.15% return vs 13.19%. 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 0.77% for FLDZ.
FLDZ has the higher dividend yield at 1.48%, compared with 1.23% for SPMD.
They also come from different issuers: RiverNorth and State Street. Their fees differ too: 0.77% for FLDZ and 0.05% for SPMD.
SPMD currently has the higher Sharpe Ratio (1.65 vs 0.72), 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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