MDY vs. TMCPX

Last updated Jun 5, 2026

MDY (SPDR S&P MidCap 400 ETF) and TMCPX (Touchstone Mid Cap Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, MDY returned 10.98%/yr vs 10.62%/yr for TMCPX. Their correlation of 0.92 suggests significant overlap in exposure. MDY charges 0.23%/yr vs 0.93%/yr for TMCPX.

Performance

MDY vs. TMCPX - Performance Comparison

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

Returns By Period

In the year-to-date period, MDY achieves a 14.32% return, which is significantly higher than TMCPX's -1.92% return. Both investments have delivered pretty close results over the past 10 years, with MDY having a 10.98% annualized return and TMCPX not far behind at 10.62%.

MDY

• 1D: 0.36%
• 1M: 2.86%
• YTD: 14.32%
• 6M: 14.00%
• 1Y: 25.74%
• 3Y*: 16.33%
• 5Y*: 8.00%
• 10Y*: 10.98%

TMCPX

• 1D: 0.09%
• 1M: -0.63%
• YTD: -1.92%
• 6M: -1.79%
• 1Y: 5.27%
• 3Y*: 8.57%
• 5Y*: 4.91%
• 10Y*: 10.62%

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

MDY vs. TMCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDY SPDR S&P MidCap 400 ETF	14.32%	7.19%	13.64%	16.07%	-13.28%	24.53%	13.50%	25.78%	-11.29%	15.93%
TMCPX Touchstone Mid Cap Fund	-1.92%	4.87%	8.48%	27.48%	-15.62%	15.21%	12.56%	39.44%	-3.14%	20.23%

Correlation

The correlation between MDY and TMCPX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 6, 2003	0.92

The correlation between MDY and TMCPX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

MDY vs. TMCPX — 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

TMCPX

TMCPX Risk / Return Rank: 5
TMCPX Sharpe Ratio Rank: 5
TMCPX Sortino Ratio Rank: 5
TMCPX Omega Ratio Rank: 4
TMCPX Calmar Ratio Rank: 5
TMCPX Martin Ratio Rank: 5

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. TMCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P MidCap 400 ETF (MDY) and Touchstone Mid Cap Fund (TMCPX). 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	TMCPX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.29	+1.38
Sortino ratio: Return per unit of downside risk	2.45	0.55	+1.90
Omega ratio: Gain probability vs. loss probability	1.30	1.06	+0.24
Calmar ratio: Return relative to maximum drawdown	2.93	0.36	+2.57
Martin ratio: Return relative to average drawdown	10.68	0.97	+9.71
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. TMCPX - Sharpe Ratio Comparison

The current MDY Sharpe Ratio is 1.67, which is higher than the TMCPX Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of MDY and TMCPX, 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	TMCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	0.29	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.28	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.58	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.48	+0.05

Drawdowns

MDY vs. TMCPX - Drawdown Comparison

The maximum MDY drawdown since its inception was -55.33%, roughly equal to the maximum TMCPX drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for MDY and TMCPX.

Drawdown Indicators

	MDY	TMCPX	Difference
Max Drawdown Largest peak-to-trough decline	-55.33%	-58.03%	+2.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-13.48%	+4.66%
Max Drawdown (3Y) Largest decline over 3 years	-24.03%	-21.47%	-2.56%
Max Drawdown (5Y) Largest decline over 5 years	-24.03%	-21.47%	-2.56%
Max Drawdown (10Y) Largest decline over 10 years	-42.22%	-35.54%	-6.68%
Current Drawdown Current decline from peak	0.00%	-7.81%	+7.81%
Average Drawdown Average peak-to-trough decline	-7.03%	-9.62%	+2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	4.95%	-2.53%

Volatility

MDY vs. TMCPX - Volatility Comparison

The current volatility for SPDR S&P MidCap 400 ETF (MDY) is 4.18%, while Touchstone Mid Cap Fund (TMCPX) has a volatility of 4.78%. This indicates that MDY experiences smaller price fluctuations and is considered to be less risky than TMCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDY	TMCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	4.78%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	12.69%	-1.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.44%	16.37%	-0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	17.84%	+1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.19%	18.50%	+2.69%

MDY vs. TMCPX - Expense Ratio Comparison

MDY has a 0.23% expense ratio, which is lower than TMCPX's 0.93% expense ratio.

Dividends

MDY vs. TMCPX - Dividend Comparison

MDY's dividend yield for the trailing twelve months is around 1.04%, less than TMCPX's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TMCPX Touchstone Mid Cap Fund	2.25%	2.20%	2.52%	0.92%	1.43%	2.80%	1.93%	5.18%	3.95%	1.10%	0.58%	0.06%

Frequently Asked Questions

Can I hold both MDY and TMCPX in my portfolio?

MDY and TMCPX 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 TMCPX?

TMCPX has higher volatility (4.78%) compared to MDY (4.18%). In terms of maximum drawdown, MDY dropped -55.33% vs TMCPX's -58.03%.

Which has better risk-adjusted returns?

MDY currently has the higher Sharpe Ratio (1.67 vs 0.29), 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.