MDY vs. MMSC
Compare and contrast key facts about SPDR S&P MidCap 400 ETF (MDY) and First Trust Multi-Manager Small Cap Opportunities ETF (MMSC).
MDY and MMSC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MDY is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Index. It was launched on May 4, 1995. MMSC is an actively managed fund by First Trust. It was launched on Oct 13, 2021.
Performance
MDY vs. MMSC - Performance Comparison
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MDY vs. MMSC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MDY SPDR S&P MidCap 400 ETF | 3.32% | 7.19% | 13.64% | 16.07% | -13.28% | 3.75% |
MMSC First Trust Multi-Manager Small Cap Opportunities ETF | 0.11% | 15.45% | 22.19% | 18.76% | -30.98% | 1.01% |
Returns By Period
In the year-to-date period, MDY achieves a 3.32% return, which is significantly higher than MMSC's 0.11% return.
MDY
- 1D
- 0.82%
- 1M
- -5.32%
- YTD
- 3.32%
- 6M
- 4.62%
- 1Y
- 17.32%
- 3Y*
- 12.06%
- 5Y*
- 6.51%
- 10Y*
- 10.34%
MMSC
- 1D
- 1.11%
- 1M
- -6.37%
- YTD
- 0.11%
- 6M
- 2.53%
- 1Y
- 31.64%
- 3Y*
- 16.84%
- 5Y*
- —
- 10Y*
- —
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MDY vs. MMSC - Expense Ratio Comparison
MDY has a 0.23% expense ratio, which is lower than MMSC's 0.95% expense ratio.
Return for Risk
MDY vs. MMSC — Risk / Return Rank
MDY
MMSC
MDY vs. MMSC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P MidCap 400 ETF (MDY) and First Trust Multi-Manager Small Cap Opportunities ETF (MMSC). 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 | MMSC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 1.20 | -0.38 |
Sortino ratioReturn per unit of downside risk | 1.30 | 1.75 | -0.46 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.23 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.28 | 2.25 | -0.97 |
Martin ratioReturn relative to average drawdown | 5.46 | 7.91 | -2.45 |
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
| MDY | MMSC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 1.20 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.15 | +0.37 |
Correlation
The correlation between MDY and MMSC 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.
Dividends
MDY vs. MMSC - Dividend Comparison
MDY's dividend yield for the trailing twelve months is around 1.15%, while MMSC has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDY SPDR S&P MidCap 400 ETF | 1.15% | 1.15% | 1.18% | 1.21% | 1.37% | 0.96% | 1.12% | 1.34% | 1.39% | 1.18% | 1.31% | 1.35% |
MMSC First Trust Multi-Manager Small Cap Opportunities ETF | 0.00% | 0.00% | 0.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MDY vs. MMSC - Drawdown Comparison
The maximum MDY drawdown since its inception was -55.33%, which is greater than MMSC's maximum drawdown of -40.82%. Use the drawdown chart below to compare losses from any high point for MDY and MMSC.
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Drawdown Indicators
| MDY | MMSC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.33% | -40.82% | -14.51% |
Max Drawdown (1Y)Largest decline over 1 year | -14.07% | -14.17% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -24.03% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.22% | — | — |
Current DrawdownCurrent decline from peak | -5.36% | -8.96% | +3.60% |
Average DrawdownAverage peak-to-trough decline | -7.06% | -19.43% | +12.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 4.02% | -0.73% |
Volatility
MDY vs. MMSC - Volatility Comparison
The current volatility for SPDR S&P MidCap 400 ETF (MDY) is 6.42%, while First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) has a volatility of 9.83%. This indicates that MDY experiences smaller price fluctuations and is considered to be less risky than MMSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDY | MMSC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 9.83% | -3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 11.89% | 18.10% | -6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.11% | 26.45% | -5.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.78% | 24.53% | -4.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.17% | 24.53% | -3.36% |