MDY vs. BRMKX

Last updated Jun 3, 2026

MDY (SPDR S&P MidCap 400 ETF) and BRMKX (iShares Russell Mid-Cap Index Fund) are both funds - MDY is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Index, while BRMKX is a Mid Cap Blend Equities fund managed by BlackRock. Over the past 10 years, MDY returned 11.05%/yr vs 11.60%/yr for BRMKX. With a 0.96 correlation, they move nearly in lockstep. MDY charges 0.23%/yr vs 0.06%/yr for BRMKX.

Performance

MDY vs. BRMKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P MidCap 400 ETF (MDY) and iShares Russell Mid-Cap Index Fund (BRMKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDY achieves a 14.02% return, which is significantly higher than BRMKX's 12.03% return. Both investments have delivered pretty close results over the past 10 years, with MDY having a 11.05% annualized return and BRMKX not far ahead at 11.60%.

MDY

• 1D: 0.90%
• 1M: 3.28%
• YTD: 14.02%
• 6M: 15.05%
• 1Y: 26.67%
• 3Y*: 15.81%
• 5Y*: 8.07%
• 10Y*: 11.05%

BRMKX

• 1D: 0.12%
• 1M: 3.16%
• YTD: 12.03%
• 6M: 12.67%
• 1Y: 22.47%
• 3Y*: 17.23%
• 5Y*: 8.11%
• 10Y*: 11.60%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MDY vs. BRMKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDY SPDR S&P MidCap 400 ETF	14.02%	7.19%	13.64%	16.07%	-13.28%	24.53%	13.50%	25.78%	-11.29%	15.93%
BRMKX iShares Russell Mid-Cap Index Fund	12.03%	10.48%	15.28%	17.30%	-17.22%	22.52%	17.17%	30.47%	-9.09%	17.74%

Correlation

The correlation between MDY and BRMKX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.96

The correlation between MDY and BRMKX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

MDY vs. BRMKX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MDY

MDY Risk / Return Rank: 54
MDY Sharpe Ratio Rank: 49
MDY Sortino Ratio Rank: 51
MDY Omega Ratio Rank: 48
MDY Calmar Ratio Rank: 60
MDY Martin Ratio Rank: 61

BRMKX

BRMKX Risk / Return Rank: 41
BRMKX Sharpe Ratio Rank: 33
BRMKX Sortino Ratio Rank: 33
BRMKX Omega Ratio Rank: 31
BRMKX Calmar Ratio Rank: 52
BRMKX Martin Ratio Rank: 53

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.

MDY vs. BRMKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P MidCap 400 ETF (MDY) and iShares Russell Mid-Cap Index Fund (BRMKX). 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.

	MDY	BRMKX	Difference
Sharpe ratio Return per unit of total volatility	1.73	1.69	+0.04
Sortino ratio Return per unit of downside risk	2.52	2.44	+0.09
Omega ratio Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio Return relative to maximum drawdown	3.01	2.79	+0.22
Martin ratio Return relative to average drawdown	10.99	10.80	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDY vs. BRMKX - Sharpe Ratio Comparison

The current MDY Sharpe Ratio is 1.73, which is comparable to the BRMKX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MDY and BRMKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MDY	BRMKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	1.69	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.45	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.60	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.62	-0.09

Drawdowns

MDY vs. BRMKX - Drawdown Comparison

The maximum MDY drawdown since its inception was -55.33%, which is greater than BRMKX's maximum drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for MDY and BRMKX.

Drawdown Indicators

	MDY	BRMKX	Difference
Max Drawdown Largest peak-to-trough decline	-55.33%	-40.20%	-15.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-8.17%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-24.03%	-21.07%	-2.96%
Max Drawdown (5Y) Largest decline over 5 years	-24.03%	-26.04%	+2.01%
Max Drawdown (10Y) Largest decline over 10 years	-42.22%	-40.20%	-2.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.03%	-5.65%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.11%	+0.31%

Volatility

MDY vs. BRMKX - Volatility Comparison

SPDR S&P MidCap 400 ETF (MDY) has a higher volatility of 4.40% compared to iShares Russell Mid-Cap Index Fund (BRMKX) at 3.29%. This indicates that MDY's price experiences larger fluctuations and is considered to be riskier than BRMKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDY	BRMKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	3.29%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	11.30%	9.93%	+1.37%
Volatility (1Y) Calculated over the trailing 1-year period	15.48%	13.43%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	18.24%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.19%	19.32%	+1.87%

MDY vs. BRMKX - Expense Ratio Comparison

MDY has a 0.23% expense ratio, which is higher than BRMKX's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MDY vs. BRMKX - Dividend Comparison

MDY's dividend yield for the trailing twelve months is around 1.04%, less than BRMKX's 5.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRMKX iShares Russell Mid-Cap Index Fund	5.31%	5.92%	6.43%	3.02%	3.67%	4.07%	2.86%	3.95%	3.87%	19.24%	2.11%	0.00%
MDY SPDR S&P MidCap 400 ETF	1.04%	1.15%	1.18%	1.21%	1.37%	0.96%	1.12%	1.34%	1.39%	1.18%	1.31%	1.35%

Frequently Asked Questions

Can I hold both MDY and BRMKX in my portfolio?

With a correlation of 0.96, MDY and BRMKX 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.

Which is riskier, MDY or BRMKX?

MDY has higher volatility (4.40%) compared to BRMKX (3.29%). In terms of maximum drawdown, MDY dropped -55.33% vs BRMKX's -40.20%.

Which has better risk-adjusted returns?

MDY currently has the higher Sharpe Ratio (1.73 vs 1.69), 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.