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IXG vs. SPMD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXG vs. SPMD

Last updated Jun 10, 2026

IXG (iShares Global Financials ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both exchange-traded funds - IXG is a Financials Equities fund tracking the S&P Global Financials Sector Index, while SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index. Both are passively managed. Over the past 10 years, IXG returned 12.31%/yr vs 11.43%/yr for SPMD. A 0.77 correlation means they provide meaningful diversification when combined. IXG charges 0.46%/yr vs 0.05%/yr for SPMD.

Performance

IXG vs. SPMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Financials ETF (IXG) 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, IXG achieves a 1.61% return, which is significantly lower than SPMD's 13.50% return. Over the past 10 years, IXG has outperformed SPMD with an annualized return of 12.31%, while SPMD has yielded a comparatively lower 11.43% annualized return.

IXG

1D
0.82%
1M
1.43%
YTD
1.61%
6M
5.64%
1Y
14.10%
3Y*
23.01%
5Y*
11.89%
10Y*
12.31%

SPMD

1D
0.82%
1M
0.99%
YTD
13.50%
6M
13.79%
1Y
23.67%
3Y*
15.34%
5Y*
8.06%
10Y*
11.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXG vs. SPMD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXG
iShares Global Financials ETF		1.61%28.54%25.69%14.97%-8.97%25.07%-2.99%24.60%-16.33%23.78%
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		13.50%7.44%13.91%16.48%-13.13%24.76%13.46%25.19%-10.34%15.12%

Correlation

The correlation between IXG and SPMD is 0.71, 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

0.71

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

0.77

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

0.81

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

0.79

Correlation (All Time)
Calculated using the full available price history since Nov 15, 2005

0.77

The correlation between IXG and SPMD shifts across timeframes, from 0.71 (1 year) to 0.81 (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 Global Financials ETF

SPDR Portfolio S&P 400 Mid Cap ETF

Often compared with IXG:
IXG vs. XLFIXG vs. IYGIXG vs. IYFIXG vs. VFHIXG vs. WFIN.ASIXG vs. FXOIXG vs. KBWB
Often compared with SPMD:
SPMD vs. MDYSPMD vs. VOSPMD vs. SPYSPMD vs. SCHMSPMD vs. IWRSPMD vs. IMCBSPMD vs. SWMCX

Return for Risk

IXG vs. SPMD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXG
IXG Risk / Return Rank: 3131
Overall Rank
IXG Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
IXG Sortino Ratio Rank: 3232
Sortino Ratio Rank
IXG Omega Ratio Rank: 3030
Omega Ratio Rank
IXG Calmar Ratio Rank: 2828
Calmar Ratio Rank
IXG Martin Ratio Rank: 3333
Martin Ratio Rank
SPMD
SPMD Risk / Return Rank: 5454
Overall Rank
SPMD Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
SPMD Sortino Ratio Rank: 5151
Sortino Ratio Rank
SPMD Omega Ratio Rank: 4848
Omega Ratio Rank
SPMD Calmar Ratio Rank: 6161
Calmar Ratio Rank
SPMD Martin Ratio Rank: 6161
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.

IXG vs. SPMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Financials ETF (IXG) 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.

IXGSPMDDifference
Sharpe ratioReturn per unit of total volatility
1.02
1.52

-0.49

Sortino ratioReturn per unit of downside risk
1.53
2.22

-0.69

Omega ratioGain probability vs. loss probability

1.18

1.27

-0.09

Calmar ratioReturn relative to maximum drawdown

1.25

2.68

-1.43

Martin ratioReturn relative to average drawdown

4.40

9.83

-5.43

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

IXG vs. SPMD - Sharpe Ratio Comparison

The current IXG Sharpe Ratio is 1.02, which is lower than the SPMD Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of IXG 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

IXGSPMDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

1.52

-0.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.41

+0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.54

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.24

0.45

-0.21

Drawdowns

IXG vs. SPMD - Drawdown Comparison

The maximum IXG drawdown since its inception was -78.42%, which is greater than SPMD's maximum drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for IXG and SPMD.

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Drawdown Indicators

IXGSPMDDifference

Max Drawdown

Largest peak-to-trough decline

-78.42%

-57.62%

-20.80%

Max Drawdown (1Y)

Largest decline over 1 year

-11.33%

-8.86%

-2.47%

Max Drawdown (3Y)

Largest decline over 3 years

-13.54%

-24.08%

+10.54%

Max Drawdown (5Y)

Largest decline over 5 years

-27.20%

-24.08%

-3.12%

Max Drawdown (10Y)

Largest decline over 10 years

-43.47%

-41.86%

-1.61%

Current Drawdown

Current decline from peak

-1.09%

-0.91%

-0.18%

Average Drawdown

Average peak-to-trough decline

-19.74%

-8.11%

-11.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

2.41%

+0.80%

Volatility

IXG vs. SPMD - Volatility Comparison

The current volatility for iShares Global Financials ETF (IXG) is 3.77%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 4.21%. This indicates that IXG 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

IXGSPMDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.77%

4.21%

-0.44%

Volatility (6M)

Calculated over the trailing 6-month period

11.12%

11.55%

-0.43%

Volatility (1Y)

Calculated over the trailing 1-year period

13.82%

15.65%

-1.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.36%

19.72%

-2.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.12%

21.18%

-1.06%

IXG vs. SPMD - Expense Ratio Comparison

IXG has a 0.46% expense ratio, which is higher than SPMD's 0.05% expense ratio.

Dividends

IXG vs. SPMD - Dividend Comparison

IXG's dividend yield for the trailing twelve months is around 2.01%, more than SPMD's 1.23% yield.

PositionTTM20252024202320222021202020192018201720162015
IXG
iShares Global Financials ETF		2.01%2.04%2.64%2.62%3.71%1.69%2.13%2.87%3.14%2.12%2.21%2.79%
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

IXG and SPMD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMD has higher volatility (4.21%) compared to IXG (3.77%). In terms of maximum drawdown, IXG dropped -78.42% vs SPMD's -57.62%.

On 10-year performance, IXG leads with 12.31% vs 11.43% for SPMD. On fees, SPMD is cheaper at 0.05% per year. On volatility, IXG has been the lower-risk option at 3.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IXG has performed better with a 12.31% return vs 11.43%. 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 0.46% for IXG.

IXG has the higher dividend yield at 2.01%, compared with 1.23% for SPMD.

IXG is categorized as Financials Equities, while SPMD is Mid Cap Blend Equities. IXG tracks S&P Global Financials Sector Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.46% for IXG and 0.05% for SPMD.

SPMD currently has the higher Sharpe Ratio (1.52 vs 1.02), 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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