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MDY vs. IJH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MDY vs. IJH

Last updated Jun 24, 2026

MDY (SPDR S&P MidCap 400 ETF) and IJH (iShares Core S&P Mid-Cap ETF) are both Mid Cap Blend Equities funds tracking the S&P MidCap 400 Index, from State Street and iShares respectively. Both are passively managed. Over the past 10 years, MDY returned 11.40%/yr vs 11.63%/yr for IJH. With a 0.99 correlation, they move nearly in lockstep. MDY charges 0.23%/yr vs 0.05%/yr for IJH.

Performance

MDY vs. IJH - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with MDY having a 14.41% return and IJH slightly higher at 14.64%. Both investments have delivered pretty close results over the past 10 years, with MDY having a 11.40% annualized return and IJH not far ahead at 11.63%.

MDY

1D
-1.01%
1M
2.67%
YTD
14.41%
6M
12.36%
1Y
24.68%
3Y*
15.79%
5Y*
8.21%
10Y*
11.40%

IJH

1D
-1.01%
1M
2.70%
YTD
14.64%
6M
12.56%
1Y
25.12%
3Y*
16.11%
5Y*
8.47%
10Y*
11.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MDY vs. IJH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MDY
SPDR S&P MidCap 400 ETF		14.41%7.19%13.64%16.07%-13.28%24.53%13.50%25.78%-11.29%15.93%
IJH
iShares Core S&P Mid-Cap ETF		14.64%7.42%13.92%16.40%-13.11%24.72%13.60%26.10%-11.19%16.26%

Correlation

The correlation between MDY and IJH 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

1.00

Correlation (All Time)
Calculated using the full available price history since May 26, 2000

0.99

The correlation between MDY and IJH has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

MDY vs. IJH - Sectors Allocation Comparison

Sectors
MDY
IJH

Industrials

24.8%
25.9%

Technology

17.4%
16.6%

Financial Services

13.3%
13.5%

Consumer Cyclical

10.7%
9.2%

Healthcare

9.1%
8.7%

Real Estate

7.4%
7.5%

Energy

5.0%
5.3%

Basic Materials

4.9%
4.9%

Consumer Defensive

3.4%
4.2%

Utilities

3.0%
3.0%

Communication Services

1.0%
1.0%

Industrials

MDY
24.8%
IJH
25.9%

Technology

MDY
17.4%
IJH
16.6%

Financial Services

MDY
13.3%
IJH
13.5%

Consumer Cyclical

MDY
10.7%
IJH
9.2%

Healthcare

MDY
9.1%
IJH
8.7%

Real Estate

MDY
7.4%
IJH
7.5%

Energy

MDY
5.0%
IJH
5.3%

Basic Materials

MDY
4.9%
IJH
4.9%

Consumer Defensive

MDY
3.4%
IJH
4.2%

Utilities

MDY
3.0%
IJH
3.0%

Communication Services

MDY
1.0%
IJH
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P MidCap 400 ETF

iShares Core S&P Mid-Cap ETF

Often compared with MDY:
MDY vs. SPYMDY vs. IWMMDY vs. SPMDMDY vs. VOMDY vs. VOOMDY vs. XMVMMDY vs. XMHQ
Often compared with IJH:
IJH vs. VOIJH vs. IJRIJH vs. IJJIJH vs. SCHMIJH vs. IJKIJH vs. IVOOIJH vs. VOE

Return for Risk

MDY vs. IJH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MDY
MDY Risk / Return Rank: 5252
Overall Rank
MDY Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
MDY Sortino Ratio Rank: 4848
Sortino Ratio Rank
MDY Omega Ratio Rank: 4444
Omega Ratio Rank
MDY Calmar Ratio Rank: 5959
Calmar Ratio Rank
MDY Martin Ratio Rank: 6060
Martin Ratio Rank
IJH
IJH Risk / Return Rank: 5252
Overall Rank
IJH Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IJH Sortino Ratio Rank: 4949
Sortino Ratio Rank
IJH Omega Ratio Rank: 4545
Omega Ratio Rank
IJH Calmar Ratio Rank: 6060
Calmar Ratio Rank
IJH 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.

MDY vs. IJH - Risk-Adjusted Trends Comparison

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

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

MDYIJHDifference
Sharpe ratioReturn per unit of total volatility
1.57
1.59

-0.02

Sortino ratioReturn per unit of downside risk
2.31
2.33

-0.02

Omega ratioGain probability vs. loss probability

1.28

1.28

0.00

Calmar ratioReturn relative to maximum drawdown

2.81

2.86

-0.05

Martin ratioReturn relative to average drawdown

10.23

10.44

-0.21

MDY vs. IJH - Sharpe Ratio Comparison

The current MDY Sharpe Ratio is 1.57, which is comparable to the IJH Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of MDY and IJH, 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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Drawdowns

MDY vs. IJH - Drawdown Comparison

The maximum MDY drawdown since its inception was -55.33%, roughly equal to the maximum IJH drawdown of -55.07%. Use the drawdown chart below to compare losses from any high point for MDY and IJH.

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Drawdown Indicators

MDYIJHDifference

Max Drawdown

Largest peak-to-trough decline

-55.33%

-55.07%

-0.26%

Max Drawdown (1Y)

Largest decline over 1 year

-8.82%

-8.83%

+0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-24.03%

-24.10%

+0.07%

Max Drawdown (5Y)

Largest decline over 5 years

-24.03%

-24.10%

+0.07%

Max Drawdown (10Y)

Largest decline over 10 years

-42.22%

-42.18%

-0.04%

Current Drawdown

Current decline from peak

-1.13%

-1.13%

0.00%

Average Drawdown

Average peak-to-trough decline

-7.02%

-7.55%

+0.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.42%

2.41%

+0.01%

Volatility

MDY vs. IJH - Volatility Comparison

SPDR S&P MidCap 400 ETF (MDY) and iShares Core S&P Mid-Cap ETF (IJH) have volatilities of 4.69% and 4.75%, 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

MDYIJHDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.69%

4.75%

-0.06%

Volatility (6M)

Calculated over the trailing 6-month period

11.70%

11.75%

-0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

15.81%

15.88%

-0.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.78%

19.76%

+0.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.18%

21.17%

+0.01%

MDY vs. IJH - Expense Ratio Comparison

MDY has a 0.23% expense ratio, which is higher than IJH's 0.05% 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. IJH - Dividend Comparison

MDY's dividend yield for the trailing twelve months is around 1.02%, less than IJH's 1.18% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
MDY
SPDR S&P MidCap 400 ETF		1.02%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

With a correlation of 1.00, MDY and IJH 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.

IJH has higher volatility (4.75%) compared to MDY (4.69%). In terms of maximum drawdown, MDY dropped -55.33% vs IJH's -55.07%.

On 10-year performance, IJH leads with 11.63% vs 11.40% for MDY. On fees, IJH is cheaper at 0.05% per year. 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, IJH has performed better with a 11.63% return vs 11.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJH is cheaper with a 0.05% expense ratio, compared with 0.23% for MDY.

IJH has the higher dividend yield at 1.18%, compared with 1.02% for MDY.

Both ETFs track S&P MidCap 400 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.23% for MDY and 0.05% for IJH.

IJH currently has the higher Sharpe Ratio (1.59 vs 1.57), 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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