MDY vs. NOMIX

Last updated Jun 26, 2026

MDY (SPDR S&P MidCap 400 ETF) and NOMIX (Northern Mid Cap Index Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, MDY returned 11.89%/yr vs 11.54%/yr for NOMIX. With a 0.98 correlation, they move nearly in lockstep. MDY charges 0.23%/yr vs 0.10%/yr for NOMIX.

Performance

MDY vs. NOMIX - Performance Comparison

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

Returns By Period

In the year-to-date period, MDY achieves a 16.17% return, which is significantly higher than NOMIX's 15.29% return. Both investments have delivered pretty close results over the past 10 years, with MDY having a 11.89% annualized return and NOMIX not far behind at 11.54%.

MDY

• 1D: 0.92%
• 1M: 2.65%
• YTD: 16.17%
• 6M: 13.92%
• 1Y: 26.46%
• 3Y*: 16.06%
• 5Y*: 8.36%
• 10Y*: 11.89%

NOMIX

• 1D: 0.55%
• 1M: 1.74%
• YTD: 15.29%
• 6M: 13.01%
• 1Y: 25.70%
• 3Y*: 16.20%
• 5Y*: 8.21%
• 10Y*: 11.54%

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

MDY vs. NOMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDY SPDR S&P MidCap 400 ETF	16.17%	7.19%	13.64%	16.07%	-13.28%	24.53%	13.50%	25.78%	-11.29%	15.93%
NOMIX Northern Mid Cap Index Fund	15.29%	7.45%	13.41%	16.43%	-13.42%	24.47%	13.59%	25.94%	-11.31%	16.06%

Correlation

The correlation between MDY and NOMIX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 23, 2005	0.98

The correlation between MDY and NOMIX shifts across timeframes, from 0.88 (1 year) to 0.98 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

MDY vs. NOMIX — Risk / Return Rank

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

MDY

MDY Risk / Return Rank: 62
MDY Sharpe Ratio Rank: 58
MDY Sortino Ratio Rank: 60
MDY Omega Ratio Rank: 55
MDY Calmar Ratio Rank: 69
MDY Martin Ratio Rank: 69

NOMIX

NOMIX Risk / Return Rank: 54
NOMIX Sharpe Ratio Rank: 42
NOMIX Sortino Ratio Rank: 43
NOMIX Omega Ratio Rank: 42
NOMIX Calmar Ratio Rank: 76
NOMIX Martin Ratio Rank: 67

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. NOMIX - Risk-Adjusted Trends Comparison

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

	MDY	NOMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.56	+0.12
Sortino ratio: Return per unit of downside risk	2.46	2.29	+0.17
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	3.01	2.98	+0.03
Martin ratio: Return relative to average drawdown	10.97	10.88	+0.09

MDY vs. NOMIX - Sharpe Ratio Comparison

The current MDY Sharpe Ratio is 1.69, which is comparable to the NOMIX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of MDY and NOMIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MDY vs. NOMIX - Drawdown Comparison

The maximum MDY drawdown since its inception was -55.33%, roughly equal to the maximum NOMIX drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for MDY and NOMIX.

Drawdown Indicators

	MDY	NOMIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.33%	-55.44%	+0.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-8.84%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.03%	-24.34%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-24.03%	-27.65%	+3.62%
Max Drawdown (10Y) Largest decline over 10 years	-42.22%	-42.03%	-0.19%
Current Drawdown Current decline from peak	0.00%	-0.50%	+0.50%
Average Drawdown Average peak-to-trough decline	-7.02%	-7.90%	+0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.40%	+0.02%

Volatility

MDY vs. NOMIX - Volatility Comparison

SPDR S&P MidCap 400 ETF (MDY) and Northern Mid Cap Index Fund (NOMIX) have volatilities of 4.51% and 4.70%, 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.

Volatility by Period

	MDY	NOMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	4.70%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	12.88%	-1.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.79%	16.87%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.78%	21.31%	-1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.17%	21.80%	-0.63%

MDY vs. NOMIX - Expense Ratio Comparison

MDY has a 0.23% expense ratio, which is higher than NOMIX's 0.10% 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. NOMIX - Dividend Comparison

MDY's dividend yield for the trailing twelve months is around 1.01%, less than NOMIX's 6.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDY SPDR S&P MidCap 400 ETF	1.01%	1.15%	1.18%	1.21%	1.37%	0.96%	1.12%	1.34%	1.39%	1.18%	1.31%	1.35%
NOMIX Northern Mid Cap Index Fund	6.01%	6.93%	9.67%	8.01%	10.43%	10.30%	4.80%	2.21%	9.23%	7.46%	6.46%	8.25%

Frequently Asked Questions

Can I hold both MDY and NOMIX in my portfolio?

MDY and NOMIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDY or NOMIX?

NOMIX has higher volatility (4.70%) compared to MDY (4.51%). In terms of maximum drawdown, MDY dropped -55.33% vs NOMIX's -55.44%.

Which has better risk-adjusted returns?

MDY currently has the higher Sharpe Ratio (1.69 vs 1.56), 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.