MDY vs. SPY
Compare and contrast key facts about SPDR S&P MidCap 400 ETF (MDY) and SPDR S&P 500 ETF (SPY).
MDY and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both MDY and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MDY or SPY.
Performance
MDY vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, MDY achieves a 19.40% return, which is significantly lower than SPY's 26.08% return. Over the past 10 years, MDY has underperformed SPY with an annualized return of 9.97%, while SPY has yielded a comparatively higher 13.10% annualized return.
MDY
19.40%
4.74%
12.00%
30.43%
12.10%
9.97%
SPY
26.08%
1.77%
13.59%
32.24%
15.62%
13.10%
Key characteristics
| MDY | SPY | |
|---|---|---|
| Sharpe Ratio | 1.95 | 2.70 |
| Sortino Ratio | 2.74 | 3.60 |
| Omega Ratio | 1.34 | 1.50 |
| Calmar Ratio | 3.05 | 3.90 |
| Martin Ratio | 11.15 | 17.52 |
| Ulcer Index | 2.80% | 1.87% |
| Daily Std Dev | 16.01% | 12.14% |
| Max Drawdown | -55.33% | -55.19% |
| Current Drawdown | -1.15% | -0.85% |
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MDY vs. SPY - Expense Ratio Comparison
MDY has a 0.23% expense ratio, which is higher than SPY's 0.09% 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%.
Correlation
The correlation between MDY and SPY is 0.87, 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.
Risk-Adjusted Performance
MDY vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P MidCap 400 ETF (MDY) and SPDR S&P 500 ETF (SPY). 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.
Dividends
MDY vs. SPY - Dividend Comparison
MDY's dividend yield for the trailing twelve months is around 1.09%, less than SPY's 1.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDY SPDR S&P MidCap 400 ETF | 1.09% | 1.21% | 1.37% | 0.96% | 1.12% | 1.34% | 1.39% | 1.18% | 1.31% | 1.35% | 1.17% | 1.07% |
SPY SPDR S&P 500 ETF | 1.18% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
MDY vs. SPY - Drawdown Comparison
The maximum MDY drawdown since its inception was -55.33%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MDY and SPY. For additional features, visit the drawdowns tool.
Volatility
MDY vs. SPY - Volatility Comparison
SPDR S&P MidCap 400 ETF (MDY) has a higher volatility of 5.40% compared to SPDR S&P 500 ETF (SPY) at 3.98%. This indicates that MDY's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.