IJH vs. SPMD
IJH (iShares Core S&P Mid-Cap ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds tracking the S&P MidCap 400 Index, from iShares and State Street respectively. Both are passively managed. Over the past 10 years, IJH returned 11.27%/yr vs 11.51%/yr for SPMD. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.
Performance
IJH vs. SPMD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IJH having a 14.10% return and SPMD slightly higher at 14.16%. Both investments have delivered pretty close results over the past 10 years, with IJH having a 11.27% annualized return and SPMD not far ahead at 11.51%.
IJH
- 1D
- -0.12%
- 1M
- 3.84%
- YTD
- 14.10%
- 6M
- 14.33%
- 1Y
- 25.45%
- 3Y*
- 16.09%
- 5Y*
- 8.17%
- 10Y*
- 11.27%
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%
IJH vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJH iShares Core S&P Mid-Cap ETF | 14.10% | 7.42% | 13.92% | 16.40% | -13.11% | 24.72% | 13.60% | 26.10% | -11.19% | 16.26% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.16% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
Correlation
The correlation between IJH and SPMD is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005 | 0.92 |
The correlation between IJH and SPMD has been stable across timeframes, ranging from 0.92 to 1.00 - a consistent structural relationship.
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Return for Risk
IJH vs. SPMD — Risk / Return Rank
IJH
SPMD
IJH vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Mid-Cap ETF (IJH) 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.
| IJH | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.89 | +0.01 |
| Martin ratioReturn relative to average drawdown | 10.60 | 10.61 | -0.01 |
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
| IJH | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 1.65 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.42 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.55 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.45 | +0.01 |
Drawdowns
IJH vs. SPMD - Drawdown Comparison
The maximum IJH drawdown since its inception was -55.07%, roughly equal to the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for IJH and SPMD.
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Drawdown Indicators
| IJH | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.07% | -57.62% | +2.55% |
Max Drawdown (1Y)Largest decline over 1 year | -8.83% | -8.86% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -24.10% | -24.08% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -24.10% | -24.08% | -0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -42.18% | -41.86% | -0.32% |
Current DrawdownCurrent decline from peak | -0.12% | -0.08% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -8.12% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.41% | 0.00% |
Volatility
IJH vs. SPMD - Volatility Comparison
iShares Core S&P Mid-Cap ETF (IJH) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) have volatilities of 4.37% and 4.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IJH | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.37% | 4.38% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 11.37% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.54% | 15.57% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.74% | 19.70% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.18% | 21.18% | 0.00% |
IJH vs. SPMD - Expense Ratio Comparison
Both IJH and SPMD have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IJH vs. SPMD - Dividend Comparison
IJH's dividend yield for the trailing twelve months is around 1.18%, less than SPMD's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJH iShares Core S&P Mid-Cap ETF | 1.18% | 1.36% | 1.33% | 1.46% | 1.68% | 1.18% | 1.28% | 1.63% | 1.72% | 1.19% | 1.60% | 1.56% |
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
With a correlation of 1.00, IJH 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 (4.38%) compared to IJH (4.37%). In terms of maximum drawdown, IJH dropped -55.07% vs SPMD's -57.62%.
On 10-year performance, SPMD leads with 11.51% vs 11.27% for IJH. Both ETFs have the same 0.05% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPMD has performed better with a 11.51% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IJH and SPMD have the same expense ratio: 0.05% per year.
SPMD has the higher dividend yield at 1.23%, compared with 1.18% for IJH.
Both ETFs track S&P MidCap 400 Index. They also come from different issuers: iShares and State Street.
IJH currently has the higher Sharpe Ratio (1.65 vs 1.65), 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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