IMCB vs. SPMD
Compare and contrast key facts about iShares Morningstar Mid-Cap ETF (IMCB) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD).
IMCB and SPMD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IMCB is a passively managed fund by iShares that tracks the performance of the IMCB-US - Morningstar U.S. Mid Cap Index. It was launched on Jun 28, 2004. SPMD is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Index. It was launched on Nov 8, 2005. Both IMCB and SPMD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IMCB or SPMD.
Key characteristics
| IMCB | SPMD | |
|---|---|---|
| YTD Return | 19.17% | 19.12% |
| 1Y Return | 31.02% | 31.25% |
| 3Y Return (Ann) | 4.63% | 5.76% |
| 5Y Return (Ann) | 10.66% | 12.11% |
| 10Y Return (Ann) | 9.82% | 10.00% |
| Sharpe Ratio | 2.51 | 2.23 |
| Sortino Ratio | 3.47 | 3.16 |
| Omega Ratio | 1.43 | 1.39 |
| Calmar Ratio | 2.35 | 3.41 |
| Martin Ratio | 13.85 | 13.31 |
| Ulcer Index | 2.27% | 2.73% |
| Daily Std Dev | 12.51% | 16.29% |
| Max Drawdown | -58.80% | -57.62% |
| Current Drawdown | -1.57% | -1.59% |
Correlation
The correlation between IMCB and SPMD is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
IMCB vs. SPMD - Performance Comparison
The year-to-date returns for both stocks are quite close, with IMCB having a 19.17% return and SPMD slightly lower at 19.12%. Both investments have delivered pretty close results over the past 10 years, with IMCB having a 9.82% annualized return and SPMD not far ahead at 10.00%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IMCB vs. SPMD - Expense Ratio Comparison
IMCB has a 0.04% expense ratio, which is lower than SPMD's 0.05% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
IMCB vs. SPMD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) 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.
Dividends
IMCB vs. SPMD - Dividend Comparison
IMCB's dividend yield for the trailing twelve months is around 1.38%, more than SPMD's 1.32% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMCB iShares Morningstar Mid-Cap ETF | 1.38% | 1.55% | 1.70% | 1.08% | 1.12% | 1.32% | 1.80% | 1.31% | 1.79% | 1.47% | 1.40% | 1.19% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.32% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% | 5.71% | 10.67% |
Drawdowns
IMCB vs. SPMD - Drawdown Comparison
The maximum IMCB drawdown since its inception was -58.80%, roughly equal to the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for IMCB and SPMD. For additional features, visit the drawdowns tool.
Volatility
IMCB vs. SPMD - Volatility Comparison
The current volatility for iShares Morningstar Mid-Cap ETF (IMCB) is 4.03%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 5.26%. This indicates that IMCB 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.